SNDKSandisk Corporation Common Stock
Options Analysis Report•COMPUTER STORAGE DEVICES
Market Cap $204.8B|NASDAQ
● 2026-05-15$1382.72
NEUTRAL
Analysis: 2026-05-14 EOD data
1Y +3310.8%YTD +402.4%7D -11.5%
Options Vol
149,100
30D
Implied Move
±29.7%
IV Rank
68%
SNDK Options Overview
IV is elevated. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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Value
Is IV priced right?
3.0
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks3/9 checks passed
IV Rank
≤35%IV Rank 99.8% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 1.07x — IV premium over HV
Sector Relative≤50%
Sector percentile 99% — above sector median
Term Structure
<1.1xFront/Back 1.10x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 106.1% — crisis-level IV
Spread-Adjusted Value
<80%Effective IV 116.5% (ATM 106.1% + spread 5.2% + bias) — expensive
Execution Efficiency
<3.0%Total drag 10.43% (spread 5.22% + slippage 5.21%) — high friction
Vega Efficiency
≥5.0Vega efficiency 155.07 (vega 80.945 / spread 5.22%) — efficient
Sentiment
Bullish or bearish?
4.7
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Weak signal (Conviction: -2%, Raw: -4%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -2% (neutral) — Raw: -4%
OI Skew Magnitude
≥15%|OI skew| 10.1% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +1.7%, OI skew -10.1% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 59%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: +7%, ATM: -6%, OTM: -5% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 79% — very bearish vs sector
Activity
Unusual activity?
4.6
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks3/9 checks passed
Volume Surge
≥1.5xVolume 0.8x avg — normal
Turnover Rate
≥15%Vol/OI 18.8% — high turnover
Strike Concentration
≥60%Top 3 strikes = 50% — dispersed
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +23.6% (5d) — building
Sector Relative≥60%
Sector activity percentile 92% — very active vs sector
Trade Quality
≥30%Large trade volume 9% — mostly retail
Execution Urgency
≥60%Aggressive execution 34% — patient
Flow Conviction
≥30Conviction -2 (bearish) — mixed
Liquidity
Can I trade efficiently?
6.2
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks3/8 checks passed
Tradeable Spread
≤5.0%Spread 5.2% — wide
Adequate OI
≥10,000OI 792,111 — deep
Active Volume
≥500Volume 149,100/day — active
Reasonable Cost
≤$0.50$0.26 to cross — cheap
Strike Coverage
≥5 strikes2 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 99% — much wider than sector
Order Book Depth
≥100 contractsDepth 65.7 contracts (bid:32.1 ask:33.6) — thin
Execution Quality
<1.0%Avg slippage 5.21% — poor
Timing
Is now a good time?
8.2
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks7/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +9.8% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 100% — seller opportunity
Event Detection
≥10pts kinkIV kink 11.6pts — event priced
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 13.81 — favors income trades
Expiration Distribution
≥3 expirations5 liquid expirations — flexible
Event Risk
≥60% (safe)safe window: No events detected
Spread Momentum
<1.2 ratioSpread ratio 1.00x — stable
Flow Momentum
≥25% strength + ≥50% consistencyFlow -2% @ 51% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 39 (ITM 20% + inst 9%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls4.9
bullishIV expensive, mixed flow
Long Puts5.0
bearishIV expensive, mixed flow
Premium Sellers
Cash-Secured Put6.2
bullishIV rich premium, mixed flow
Covered Call6.4
bearishIV rich premium, mixed flow
For educational purposes only. Not investment advice.