SNDK Flow Report

Analysis based on market close April 6, 2026

Directional Theta Gang Flow Earnings Consensus

Flow Verdict

Confidence:

7 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 7.8% from MP

Watch next session: $750C OI buildup; Put flow at $720-$725

Flow Summary

Net premium: +$170.9M bullish

P/C volume ratio: 1.11 — slight put-dominant volume

P/C OI ratio: 1.03 — neutral OI positioning

Massive net premium bullish despite slightly elevated put volume, indicating strong institutional call buying. Flow regime is mixed but GEX strongly positive at +$8.4M, creating pinning pressure.

Notable Prints

SNDK 4/24 $750 Call

Vol: 2,220

OI: 195

Vol/OI: 11.4x

IV: 95.3%

Notional: ~$113M

Intent: Fresh directional call buying

Dual read: Bought (bullish) or sold/overwritten (neutral)

Read-through: Large notional bullish bet targeting +3.5% move in 18 days, consistent with $750 premium flow dominance

SNDK 4/10 $720 Put

Vol: 1,172

OI: 120

Vol/OI: 9.8x

IV: 105.7%

Notional: ~$34.6M

Intent: Near-term protective hedge

Dual read: Bought (bearish) or sold (neutral/bullish)

Read-through: Likely hedging against short-term downside near spot, with high IV suggesting premium selling is possible

SNDK 4/10 $725 Call

Vol: 1,130

OI: 161

Vol/OI: 7.0x

IV: 106.9%

Notional: ~$35.9M

Intent: Directional call buying

Dual read: Bought (bullish) or sold/overwritten (neutral)

Read-through: At-the-money call flow supporting bullish bias near current price

SNDK 4/10 $727.50 Put

Vol: 666

OI: 109

Vol/OI: 6.1x

IV: 108.7%

Notional: ~$22.4M

Intent: ITM put hedge or spread leg

Dual read: Bought (bearish) or sold (neutral/bullish)

Read-through: In-the-money put with high volume, likely part of collar or protective strategy given spot proximity

SNDK 4/10 $430 Put

Vol: 1,210

OI: 242

Vol/OI: 5.0x

IV: 177.3%

Notional: ~$60.5K

Intent: Lottery ticket or far OTM hedge

Dual read: Bought (crash protection) or sold (premium collection)

Read-through: Extremely high IV suggests likely premium selling, not directional bearish bet

Institutional Positioning

Call additions: $750-$1000 calls across April expirations, with massive premium flow at $750C ($20.7M) and $1000C ($19.5M)

Put additions: Protective puts at $720-$727.50 and far OTM puts at $430-$570

GEX/DEX consistency: Yes — positive GEX of +$8.4M aligns with bullish premium flow and pinning regime

OI clusters: $580 call wall (6,576 OI), $575 put floor (4,759 OI), $770-$1080 call wall (4,044-3,417 OI), $500-$530 put floor (3,385-3,711 OI)

Hedging evidence: Moderate near-term put flow at $720-$727.50 suggests some hedging, but dwarfed by call premium

Max pain context: Near-term max pain at $672.50 (4/10) and $610 (4/17), well below spot at $724.63, creating upward pinning pressure

Signal vs Noise

~$430 Put 4/10 with 177.3% IV is likely premium selling, not directional bearish bet

~$545 Put 4/10 with 135.8% IV appears as lottery ticket or far OTM hedge, not meaningful flow

~$1140 Call 4/24 is far OTM (57% from spot) and likely speculative or spread leg

Key Conclusions

🐂Net premium +$170.9M strongly bullish despite mixed volume

📌Positive GEX +$8.4M creates pinning pressure with spot above max pain

🛡️Near-term put flow at $720-$727.50 shows hedging, not dominant bearish positioning

Read the Flow analysis for SNDK for 2026-04-06. This AI-generated report covers regime classification, key price levels, strategy recommendations, and actionable trade ideas drawn from end-of-day options data including gamma exposure, delta exposure, and implied volatility.