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SNDK

Sandisk CorporationClose $1759.68EOD only
Max Pain
$1650.00
Next expiry Jun 5, 2026
Expected Move
±$77.50
4.4% from close
Price Gap
-109.68
Distance to max pain
IV Rank
62
High premium
P/C OI
1.66
Slightly put-heavy
Consensus
6.0/10
Consensus signal
Published snapshot: Jun 4, 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
Jun 4, 2026 close
SNDK Earnings Report
Analysis based on market close June 4, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Earnings Verdict

Non-earnings day with elevated IV and put-heavy flow. Stock above max pain.

Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 6.6% from MP; +1 VIX 15
Most important: High put volume ratio suggests downside hedging.
📊Put/Call volume ratio 1.93 indicates bearish sentiment.

Regime Classification

Vol Regime
High
Gamma Regime
Pinning
Flow Regime
Mixed
Spot vs MP
Above
Gamma flip: ~$1300.00 — Approx — based on put OI concentration of 3,760 (26.1% below spot)

Earnings Overview

Next earnings: 2026-08-24 (81 days)explicit

Expected moves:

  • 2026-06-05 (1d): ±$77.50 (4.4%)
  • 2026-06-12 (8d): ±$215.75 (12.3%)
  • 2026-06-18 (14d): ±$280.75 (16.0%)

IV Setup

Term structure: Steep contango: 4.4% (1d) to 16.0% (14d) expected moves.

Crush estimate: N/A - no earnings event today.

Skew: Put skew elevated, deep OTM puts trading at extreme IV.

Historical Context

Beat rate: 100% (5/5 quarters)

Avg move vs expected: Not applicable (no earnings event)

Directional bias: Historical beat rate 100% but not relevant today.

Key Levels

1$1300.00 gamma flip
2EM guardrails: 2d $1682.18/$1837.18; 1w $1543.93/$1975.43
3Max pain pins: $1650 (2026-06-05); $1500 (2026-06-12); $1000 (2026-06-18)

Flow Highlights

Heavy put activity: $670 strike with 13.7x vol/OI ratio (3264 vol).

Potential hedging or bearish speculation.

Call buying at $1800-$1820 strikes with 3-5x vol/OI.

Bullish bets near current price, perhaps short-term.

Strategies

Bearish Put Diagonal
Sell 2026-06-12 $1650.00 put / buy 2026-07-17 $1570.00 put
Debit: $78.30-$95.70
Max loss: $95.70
Max gain: Variable
BE: Path-dependent
Trigger: Monitor front-month expiry; roll if near strike.
Liquidity pass; aligns with put-heavy flow and elevated IV.
Outperforms: Bearish tilt via short front-month put, long later put; exploits contango.
Underperforms: Loss of support or adverse vol term shift weakens thesis.
Iron Condor
Sell 2026-06-12 $1650.00/$1515.00 put wing and $1920.00/$2070.00 call wing
Credit: $54.00-$66.00
Max loss: $84.00
Max gain: $66.00
BE: 1584.00 / 1986.00
Trigger: Adjust if stock breaches wings. Liquidity warning: Liquidity constraints: long_put: Volume below 5.; long_call: Volume below 5.
Neutral theta play; but liquidity fail may hinder execution.
Outperforms: Symmetric short vol trade; benefits from IV contraction.
Underperforms: Move outside short strikes invalidates range thesis.

Risk Assessment

!Elevated IV (VIX 15.4, IV >70%) may spike further.
!Put-heavy flow signals downside risk.
!Stock above max pain but call resistance at $2000.

What to Watch

?Monitor $1800-$1870 call OI and $900-$1430 put activity.
?Watch gamma flip level at $1300 for potential acceleration.
How to Use These Reports
This earnings reflects the market close on June 4, 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.