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SNDK

Sandisk CorporationClose $1383.29EOD only
Max Pain
$1330.00
Next expiry May 22, 2026
Expected Move
±$124.55
9.0% from close
Price Gap
-53.29
Distance to max pain
IV Rank
33
Middle-high premium
P/C OI
1.38
Slightly put-heavy
Consensus
7.0/10
Bearish tilt
Published snapshot: May 19, 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 19, 2026 close
SNDK Earnings Report
Analysis based on market close May 20, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

No upcoming earnings event; current flow is bearish with elevated put activity. Implied moves suggest large expected swings; IV elevated.

Confidence:
6.5 / 10
base 5; +1 GEX positive (pinning); -0.5 spot 4.7% from MP; +1 VIX 17
Most important: Implied moves >7% for 2d; put skew steep; aggressive downside positioning.
🐻Put/call vol ratio 1.47; unusual prints at 1205p, 1100p
⚡IV elevated; term structure steep at 7.5% for 2d

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Bearish
Spot vs MP
Above
Gamma flip: ~$1100.00 — Approx — based on put OI concentration of 7,127 (21.0% below spot)

Earnings Overview

Expected moves:

  • 2026-05-22 (2d): ±$105.00 (7.5%)
  • 2026-05-29 (9d): ±$177.25 (12.7%)
  • 2026-06-05 (16d): ±$239.60 (17.2%)

IV Setup

Term structure: Steep: 2d ±7.5%, 9d ±12.7%, 16d ±17.2%

Crush estimate: No event; IV expected to decay slowly

Skew: Put skew elevated; deep OTM puts traded heavily

Historical Context

Beat rate: 100% (5/5 quarters)

Key Levels

1$1100.00 gamma flip
2EM guardrails: 2d $1287.56/$1497.56; 1w $1215.31/$1569.81
3Max pain pins: $1330 (2026-05-22); $1300 (2026-05-29); $1300 (2026-06-05)

Flow Highlights

Heavy put buying at 1205 and 1100 strikes; volume/oi >4x

Aggressive downside hedge or speculative bet

Call activity at 1395 and 1425; moderate volume

Upside speculation near resistance

Strategies

Iron Condor on SNDK
Sell 2026-05-29 $1330.00/$1325.00 put wing and $1500.00/$1510.00 call wing
Credit: $3.60-$4.40
Max loss: $5.60
Max gain: $4.40
BE: 1325.60 / 1504.40
Trigger: Manage if spot approaches wings; typically held to expiry.
Best for high-IV environment with no catalyst; defined risk and premium decay.
Outperforms: Sells put and call wings near support/resistance to capture IV crush and time decay.
Underperforms: Move outside short strikes invalidates range thesis.
Call Calendar on SNDK
Sell 2026-05-29 $1500.00 call / buy 2026-06-05 $1500.00 call
Debit: $27.22-$33.27
Max loss: $33.27
Max gain: Variable
BE: Path-dependent
Trigger: Close if spot drops below invalidation level or near expiration.
Exploits steep term structure; near-term IV > back-month.
Outperforms: Sells near-term call, buys later call; profits from IV contraction and time decay.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Long straddle
Buy 2026-05-29 $1410.00 put + buy $1410.00 call
Debit: $159.84-$195.36
Max loss: $195.36
Max gain: Unlimited
BE: 1214.64 / 1605.36
Elevated IV and steep put skew signal large expected swing; straddle captures move.
Outperforms: Vol convexity play targeting large implied move in SNDK.
Underperforms: Under-realized move and IV crush hurt long-vol thesis.

Risk Assessment

!Put-heavy flow may indicate hedging; spot could break support if no catalyst
!Gamma flip at 1100; if spot drops, delta hedging accelerates selloff

What to Watch

?Monitor put volume continuation; 1330 support and 1500 resistance
?Check if earnings date is announced; IV may change
How to Use These Reports
This earnings reflects the market close on May 20, 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.