Susquehanna options strategist Alison Edwards notes bearish options activity in Taiwan Semi (NYSE: TSM), as investors purchased 5k Feb 37 Puts for $2.35 (will make investors long ~14k puts), followed later by 2k Feb 35 Puts for $0.75. Trading indicates investors think shares are headed for a move lower in the coming weeks when there will be a slew of semi earnings released by Feb expiry (i.e. ~80% of SMH holdings).