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SNDK

Sandisk CorporationClose $1478.69EOD only
Max Pain
$1350.00
Next expiry May 29, 2026
Expected Move
±$148.25
10.0% from close
Price Gap
-128.69
Distance to max pain
IV Rank
55
Middle-high premium
P/C OI
1.46
Slightly put-heavy
Consensus
6.5/10
Bullish tilt
Published snapshot: May 22, 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 22, 2026 close
SNDK Earnings Report
Analysis based on market close May 26, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

SNDK earnings 90 days out, 100% beat rate, high IV environment.

Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 14.4% from MP; +1 VIX 17
Most important: Earnings far out; focus on near-term IV crush expectations and put skew.
⚠️SNDK 100% beat rate but 5/29 max pain $1390 vs spot $1588 – potential pin action.
📉Put skew steep; large put OI at $1250-$1600 suggests downside hedges.

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
Above
Gamma flip: ~$1250.00 — Approx — based on put OI concentration of 3,371 (21.4% below spot)

Earnings Overview

Next earnings: 2026-08-24 (90 days)explicit

Expected moves:

  • 2026-05-29 (3d): ±$131.00 (8.2%)
  • 2026-06-05 (10d): ±$228.55 (14.4%)
  • 2026-06-12 (17d): ±$293.70 (18.5%)

IV Setup

Term structure: Upward sloping: 8.2% (3d), 14.4% (10d), 18.5% (17d).

Crush estimate: No immediate crush; earnings 90d away.

Skew: Put OI concentrated 21.4% below spot; strong put skew.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Not available; 5/5 beats suggest larger moves.

Directional bias: Bullish bias from consistent beats.

Key Levels

1$1250.00 gamma flip
2EM guardrails: 2d $1458.55/$1720.55; 1w $1361.00/$1818.10
3Max pain pins: $1390 (2026-05-29); $1350 (2026-06-05); $1385 (2026-06-12)

Flow Highlights

Large put buying at $1600 and $1255 strikes on 5/29 expiry.

Hedging against downside risk near max pain.

Aggressive call buying at $1750 and $1950 strikes.

Speculation on upside breakout.

Strategies

Short Strangle
Sell 2026-06-05 $1520.00 put + sell $1680.00 call
Credit: $144.13-$176.16
Max loss: Unlimited
Max gain: $176.16
BE: 1343.84 / 1856.16
Trigger: Monitor IV; exit if IV drops below 70% or at 50% max gain.
Near-term IV >100%, upward term structure, no catalyst until earnings, ideal for theta decay.
Outperforms: Sell OTM put and call to capture high IV premium with low event risk.
Underperforms: Break outside short strikes invalidates short-vol thesis.
Call Calendar
Sell 2026-06-05 $1600.00 call / buy 2026-07-17 $1600.00 call
Debit: $119.52-$146.08
Max loss: $146.08
Max gain: Variable
BE: Path-dependent
Trigger: Close if short side IV drops below 50% of long IV.
Upward sloping IV makes near-term high IV sell, long-dated buy advantageous.
Outperforms: Sell short-term call, buy longer-term call to profit from volatility term structure.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Bull call spread
Buy 2026-08-21 $1550.00/$1590.00 call spread
Debit: $12.69-$15.51
Max loss: $15.51
Max gain: $24.49
BE: $1565.51
Bullish bias and high IV make call spreads attractive.
Outperforms: Bet on upside from consistent beats.
Underperforms: Loss of support weakens upside continuation thesis.

Risk Assessment

!Volatility crush risk if no catalyst until earnings.
!Gamma flip at $1250; spot 14.4% above max pain $1390.
!Put-heavy OI ratio (1.5) indicates bearish positioning.

What to Watch

?Monitor IV crush expectations as earnings approaches.
?Watch for increased volume in weekly expiries post-5/29.
How to Use These Reports
This earnings reflects the market close on May 26, 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.