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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 Theta Report
Analysis based on market close June 4, 2026
DirectionalTheta GangFlowEarningsConsensus

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

Theta Verdict

Attractiveness8 / 10
Sizing: Aggressive
Primary: Short put verticals
Invalidation: Spot breaks below $1600 or IV drops below 100%
Confidence:
8 / 10
base 5; +2 GEX/flow strongly aligned; +1 GEX positive (pinning); -1 spot 6.6% from MP; +1 VIX 15

IV Environment

IV Regime
High
IV vs VIX
Avg IV 116.8% vs VIX 15.4 – extremely elevated
Favorable?
Yes

Term structure: Front-week ATM IV 74-98%, longer-dated 100-108% – steep contango in short term, elevated across board

📈IV 116.8% vs VIX 15.4 – extreme premium; pin risk elevated near expirations

Pin Risk Assessment

Spot vs MP: Above

GEX regime: Pinning ($+2.9M)

Gamma flip: ~$1300.00 — Approx — based on put OI concentration of 3,760 (26.1% below spot)

OI concentrations: Put floor $900-$1600; Call wall $2000; max pain pins at $1650 (1d), $1500 (8d), $1000 (14d)

Verdict: High pin risk – multiple strikes with heavy OI, especially $1650 and $1500 expiring soon

Premium Opportunities

#1
Iron condor
Sell 2026-06-26 $1600.00/$1470.00 put wing and $2080.00/$2260.00 call wing
Sells put and call wings, profiting if spot stays within $1470-$2080 by expiry; low directional bias.
Credit: $64.35-$78.65
Max loss: $101.35
BE: 1521.35 / 2158.65
Mgmt: Exit if spot approaches $1600 or $2080; set stop loss at 50% of max loss. Liquidity warning: Liquidity constraints: long_put: Volume below 5.; short_call: Volume below 5.
#2
Put credit spread
Sell 2026-06-26 $1535.00/$1390.00 put spread
Sells put spread at $1535/$1390, betting spot stays above $1535; limited risk.
Credit: $33.57-$41.03
Max loss: $103.97
BE: $1493.97
Mgmt: Monitor spot; roll up if spot drops below $1550; close before earnings. Liquidity warning: Liquidity constraints: short_put: Volume below 5.; long_put: Volume below 5.

Risk Alerts

!Extreme IV suggests binary event risk; high put/call ratios (1.93 vol, 1.66 OI) indicate strong hedging demand
!Gamma flip at $1300 – keep position sizes small and monitor spot proximity
How to Use These Reports
This theta 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.