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SNDK

Sandisk CorporationClose $1542.24EOD only
Max Pain
$1345.00
Next expiry May 22, 2026
Expected Move
±$64.70
4.2% from close
Price Gap
-197.24
Distance to max pain
IV Rank
53
Middle-high premium
P/C OI
1.41
Slightly put-heavy
Consensus
6.0/10
Bullish tilt
Published snapshot: May 21, 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 21, 2026 close
SNDK Earnings Report
Analysis based on market close May 22, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

High IV with heavy 1550 call activity and put buying at 1480. No upcoming earnings event.

Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 5.6% from MP; +1 VIX 17
Most important: Watch 1550 call wall and 1480 put activity for gamma pinning.
📊1550 call OI 3k vs 17k vol suggests aggressive bullish bets.

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
Above
Gamma flip: ~$1100.00 — Approx — based on put OI concentration of 6,701 (25.6% below spot)

Earnings Overview

Expected moves:

  • 2026-05-29 (7d): ±$148.25 (10.0%)
  • 2026-06-05 (14d): ±$216.80 (14.7%)
  • 2026-06-12 (21d): ±$271.60 (18.4%)

IV Setup

Term structure: Upward sloping: 7d ±10%, 14d ±14.7%, 21d ±18.4%.

Crush estimate: N/A – no defined event.

Skew: Put-heavy OI (1.46 ratio) but call volume concentrated at 1550.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: N/A (no earnings history for expected vs actual moves).

Directional bias: Mixed – call walls suggest upside target, put buying hedges downside.

Key Levels

1$1100.00 gamma flip
2EM guardrails: 1w $1330.44/$1626.94
3Max pain pins: $1400 (2026-05-22); $1350 (2026-05-29); $1330 (2026-06-05)

Flow Highlights

Unusual call buying at 1550: vol/oi 5.6, 17k volume vs 3k OI.

Bulls targeting $1550+ break.

Heavy put buying at 1480/1470: vol/oi >10.

Bearish hedge or downside speculation.

Strategies

Iron Condor
Sell 2026-05-29 $1480.00/$1460.00 put wing and $1500.00/$1510.00 call wing
Credit: $13.73-$16.78
Max loss: $3.22
Max gain: $16.78
BE: 1463.22 / 1516.78
Trigger: Monitor 1550 call wall and 1480 put; adjust if breached.
No event, elevated IV, range-bound backdrop.
Outperforms: Sells 1480/1460 put and 1500/1510 call wings.
Underperforms: Move outside short strikes invalidates range thesis.
Call Calendar
Sell 2026-05-29 $1500.00 call / buy 2026-07-17 $1500.00 call
Debit: $136.62-$166.98
Max loss: $166.98
Max gain: Variable
BE: Path-dependent
Trigger: Exit if stock below 1400.
Upward sloping term structure; sell near-term premium.
Outperforms: Sell 2026-05-29 1500 call, buy 2026-07-17 1500 call.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Put Calendar
Sell 2026-05-29 $1500.00 put / buy 2026-07-17 $1500.00 put
Debit: $126.31-$154.39
Max loss: $154.39
Max gain: Variable
BE: Path-dependent
Trigger: Watch 1480 put activity; roll if 1500 breached.
Elevated put IV near-term; steep term structure.
Outperforms: Sell near-term 1500 put, buy later put.
Underperforms: Loss of support or adverse vol term shift weakens thesis.

Risk Assessment

!IV elevated (VIX 16.7, term structure steep).
!Gamma flip at 1100 – extreme move could trigger cascade.

What to Watch

?1550 call OI wall – resistance for near-term rallies.
?1480 put activity – key support level for gamma pinning.
How to Use These Reports
This earnings reflects the market close on May 22, 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.