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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

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 Flow Report

Analysis based on market close May 22, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

8 / 10

base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 5.6% from MP; +1 VIX 17

Watch next session: 1470; 1520; 1550

Flow Summary

Net premium: +$280.4M bullish

P/C volume ratio: 1.01

P/C OI ratio: 1.46

Heavy premium with put/call volume near parity but OI skewed puts. Unusual prints show high-volume put and call buying at key strikes. Gamma pinning near spot at $1500 with +$6.3M GEX. Mixed flow suggests two-sided positioning, awaiting catalyst.

Notable Prints

SNDK 2026-05-22 $1480.00 Put

Vol: 1,793

OI: 120

Vol/OI: 14.9x

IV: 21.4%

Notional: ~$1.0M

Intent: Protective put hedging downside risk

Dual read: Bearish outright purchase if new

Read-through: Worries about downside

SNDK 2026-05-22 $1540.00 Call

Vol: 2,431

OI: 211

Vol/OI: 11.5x

IV: 31.1%

Notional: ~$2K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

SNDK 2026-05-22 $1470.00 Put

Vol: 1,498

OI: 130

Vol/OI: 11.5x

IV: 22.8%

Notional: ~$363K

Intent: Similar put buying for downside protection

Dual read: Bearish speculation at lower strike

Read-through: Increased bearish positioning

SNDK 2026-05-22 $1505.00 Call

Vol: 1,793

OI: 157

Vol/OI: 11.4x

IV: 22.3%

Notional: ~$36K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

SNDK 2026-05-22 $1535.00 Call

Vol: 1,199

OI: 149

Vol/OI: 8.1x

IV: 35.9%

Notional: ~$6K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Calls at 1495-1550, massive 1550C vol.

Put additions: Puts at 1480/1470, high vol/OI.

GEX/DEX consistency: GEX +$6.3M, DEX +19.2M, both positive.

OI clusters: Top OI: $1550C 3060, $1510C 705, $1520C 575.

Hedging evidence: Puts below spot suggest downside hedge.

Max pain context: Spot above MP; gamma pinning near $1500-$1510.

Signal vs Noise

~Signal: high vol/OI puts at 1480/1470 (hedging), 1550C 17k vol.

~Noise: low-vol calls at 1505, 1535, 1495.

Key Conclusions

🛡️Deep OTM puts (1480/1470) high vol/OI - institutional hedging.

📈Positive GEX/DEX, call wall at 1550 - bullish gamma.

⚡Mixed flow (PC vol ~1), spot above MP, multiple unusual prints - uncertainty.

How to Use These Reports

This flow 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.