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SNDK

Sandisk CorporationClose $1452.02EOD only
Max Pain
$1200.00
Next expiry May 15, 2026
Expected Move
±$136.50
9.4% from close
Price Gap
-252.02
Distance to max pain
IV Rank
64
High premium
P/C OI
1.41
Slightly put-heavy
Consensus
6.5/10
Bullish tilt
Published snapshot: May 12, 2026 close
End-of-day snapshot

This page reflects SNDK options positioning from the latest published market-close snapshot. Intraday price and contract changes are not displayed.

Published Snapshot
May 12, 2026 close
SNDK Earnings Report
Analysis based on market close May 13, 2026
DirectionalTheta GangFlowEarningsConsensus

Historical consensus-supported lens with full content, report chain context, and metric rail.

Earnings Verdict

SNDK: extremely elevated IV with 9d expected move 14.9%. Massive premium flow ($485M) with aggressive call buying near $1450 and put activity at $1190/$1300. Historical 100% beat rate supports bullish bias but spot 18.6% above max pain. Confidence high.

Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 18.6% from MP; +1 VIX 18
Most important: Watch $1337/$1557 guardrails and $1220 max pain. IV crush post-event could be severe.
📈Massive call buying above $1400 signals upside conviction
⚠️Spot 18% above max pain; pinning failure possible

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
Above
Gamma flip: ~$1200.00 — Approx — based on put OI concentration of 4,868 (17.1% below spot)

Earnings Overview

Expected moves:

  • 2026-05-15 (2d): ±$110.05 (7.6%)
  • 2026-05-22 (9d): ±$216.20 (14.9%)
  • 2026-05-29 (16d): ±$134.60 (9.3%)

IV Setup

Term structure: Inverted: 2d 7.6%, 9d 14.9%, 16d 9.3% – front-loaded vol.

Crush estimate: Sharp crush ~60% if event on May 15.

Skew: Put skew steep with heavy OTM puts; call skew flat.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Not available; 100% beat rate implies upside surprise.

Directional bias: Bullish on beat rate.

Key Levels

1$1200.00 gamma flip
2EM guardrails: 2d $1337.18/$1557.28; 1w $1231.03/$1663.43
3Max pain pins: $1220 (2026-05-15); $1280 (2026-05-22); $1200 (2026-05-29)

Flow Highlights

Aggressive call buying: 3,043 contracts at $1450C, 507 at $1440C, 432 at $1500C

Strong bullish positioning with upside risk.

Put activity: 598 contracts at $1300P, 407 at $1190P

Hedging or bearish bets; put floor active $800-$1200.

Strategies

Call Diagonal Vol Play
Sell 2026-05-22 $1470.00 call / buy 2026-05-29 $1490.00 call
Debit: $14.67-$17.93
Max loss: $17.93
Max gain: Variable
BE: Path-dependent
Trigger: Monitor $1337 support; exit if spot drops below invalidation $1312.63 Liquidity warning: Liquidity constraints: long_call: Open interest below 25.
Inverted vol term structure yields premium decay edge
Outperforms: Sell short-term high IV call, buy longer expiry to capture vol crush
Underperforms: Loss of support or adverse vol term shift weakens thesis.

Risk Assessment

!Event IV inflated; post-earnings crush could erase premium quickly.
!Spot 18.6% above max pain; pinning unlikely; risk of sharp move away.

What to Watch

?2d guardrails: $1337.18 support / $1557.28 resistance.
?Max pain $1220; large call OI at $1600-$2000.
How to Use These Reports
This earnings reflects the market close on May 13, 2026.
What the reports do

Each report translates the same market-close options snapshot into a specific lens such as directional bias, premium-selling posture, flow quality, or earnings setup.

How traders use them

Reports are most useful for narrowing the playbook, surfacing entry and risk context, and deciding which raw data page to inspect next.

What to remember

These are interpretation layers, not execution guarantees. Validate the setup against chain liquidity, expected move, and exposure before sizing risk.

If the report conviction and the raw data disagree, slow down and resolve the mismatch before sizing risk.