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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 Theta Report
Analysis based on market close May 26, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness8 / 10
Sizing: Aggressive
Primary: N/A
Invalidation: Spot breaks below $1250 gamma flip
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 14.4% from MP; +1 VIX 17

IV Environment

IV Regime
High
IV vs VIX
IV 113% vs VIX 17, elevated.
Favorable?
Yes

Term structure: Contango; short-dated put skew steep.

⚠️Put IV >150% OTM at front, extreme fear premium.

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+4.5M)

Gamma flip: ~$1250.00 — Approx — based on put OI concentration of 3,371 (21.4% below spot)

OI concentrations: Max pain $1390 (5/29), $1350 (6/5), $1385 (6/12); put floor $800-$1250.

Verdict: Strong pinning potential near max pain strikes.

Premium Opportunities

#1
Short strangle
Sell 2026-06-18 $1440.00 put + sell $1900.00 call
Sells put and call to collect elevated IV premium with undefined risk.
Credit: $147.56-$180.34
Max loss: Unlimited
BE: 1259.66 / 2080.34
Mgmt: Monitor gamma flip near $1250; set stop-loss.
#2
Put credit spread
Sell 2026-06-18 $1385.00/$1250.00 put spread
Sell put spread to capture IV premium with capped loss.
Credit: $30.69-$37.51
Max loss: $97.49
BE: $1347.49
Mgmt: Watch $1250 support; exit if break. Liquidity warning: Liquidity constraints: short_put: Volume below 5.
#3
Iron condor
Sell 2026-06-18 $1385.00/$1250.00 put wing and $1980.00/$2190.00 call wing
Iron condor harvests call and put premium with defined risk.
Credit: $55.03-$67.27
Max loss: $142.73
BE: 1317.73 / 2047.27
Mgmt: Adjust wings if spot moves near strikes. Liquidity warning: Liquidity constraints: short_put: Volume below 5.; short_call: Open interest below 25.

Risk Alerts

!High put OI 21.4% below spot amplifies pin risk.
!Gamma flip $1250: break triggers rapid dealer hedging.
How to Use These Reports
This theta 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.