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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

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 Flow Report

Analysis based on market close June 5, 2026

Directional Theta Gang Flow Earnings Consensus

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

Flow Verdict

Confidence:

6.5 / 10

base 5; +2 GEX/flow strongly aligned; -1 spot 6.1% from MP; +0.5 VIX 22

Watch next session: 1550; 1580; 1620

Flow Summary

Net premium: -$247.8M bearish

P/C volume ratio: 1.42

P/C OI ratio: 1.74

Heavy bearish flow: net premium -$248M, put/call volume ratio 1.42, OI ratio 1.74. Negative gamma -$15M magnifies downside. Spot below MP in high vol regime. Notable cheap call buying at 1600-1680 likely speculative.

Notable Prints

SNDK 2026-06-05 $1600.00 Call

Vol: 10,255

OI: 353

Vol/OI: 29.1x

IV: 30.3%

Notional: ~$51K

Intent: Speculative long call

Dual read: Potential bearish hedge

Read-through: High volume opening in deep OTM calls suggests lottery-like bets on a spike.

SNDK 2026-06-05 $1680.00 Call

Vol: 3,184

OI: 125

Vol/OI: 25.5x

IV: 53.1%

Notional: ~$10K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

SNDK 2026-06-05 $1650.00 Call

Vol: 6,325

OI: 384

Vol/OI: 16.5x

IV: 41.4%

Notional: ~$6K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

SNDK 2026-06-05 $1565.00 Put

Vol: 2,004

OI: 146

Vol/OI: 13.7x

IV: 37.6%

Notional: ~$2.2M

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

SNDK 2026-06-05 $1510.00 Put

Vol: 2,103

OI: 178

Vol/OI: 11.8x

IV: 43.1%

Notional: ~$181K

Intent: Unclear flow intent

Read-through: Needs contextual interpretation.

Institutional Positioning

Call additions: Heavy OTM call volume at $1600-$1680, likely speculative or upside hedges.

Put additions: Large put volume at $1565, $1580, and deep OTM $950 (6/12), indicating hedging.

GEX/DEX consistency: GEX negative (-$15M) aligns with bearish flow; DEX positive (+22M) shows dealer long gamma, consistent with hedging.

OI clusters: Largest OI: $1580 put (423) and $1600 call (353).

Hedging evidence: Concentrated put buying at $1580 & $1565 suggests protective collars.

Max pain context: Spot at $1566, below max pain; likely pin or drift lower.

Signal vs Noise

~Real signal: negative net premium, put/call ratios >1, regime below MP, gamma flip at $1550.

~Noise: heavy OTM call volume on low OI may be retail or hedging noise.

Key Conclusions

📉Bearish flow with puts dominating; spot below MP; gamma flip at $1550 suggests downside risk.

⚠️High VIX (21.5) and net premium -$247M indicate sustained selling pressure.

🔍Large OTM call volume is likely noise; primary signal is put accumulation.

How to Use These Reports

This flow reflects the market close on June 5, 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.