SNDKSandisk Corporation Common Stock
Options Analysis Report•COMPUTER STORAGE DEVICES
Market Cap $218.6B|NASDAQ
● 2026-08-24$1493.12
NEUTRAL
Analysis: 2026-08-21 EOD data
1Y +3091.8%YTD +442.5%7D -8.2%
Options Vol
223,058
30D
Implied Move
±21.8%
IV Rank
0%
SNDK Options Overview
IV is elevated with unusual activity. Conditions favor premium sellers.
REWARDS
RISK ANALYSIS
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SNDK Gamma Walls
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Value
Is IV priced right?
6.2
ExpensiveCheap
Measures whether options are cheap, fair, or rich relative to historical and peer
IV
levels.Risk Checks5/9 checks passed
IV Rank
≤35%IV Rank 99.6% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.53x — IV ≤ HV
Sector Relative≤50%
Sector percentile 99% — above sector median
Term Structure
<1.1xFront/Back 0.88x — contango
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 78.0% — normal range
Spread-Adjusted Value
<80%Effective IV 85.1% (ATM 78.0% + spread 3.6% + bias) — expensive
Execution Efficiency
<3.0%Total drag 7.19% (spread 3.57% + slippage 3.62%) — high friction
Vega Efficiency
≥5.0Vega efficiency 341.30 (vega 121.844 / spread 3.57%) — efficient
Sentiment
Bullish or bearish?
5.1
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Very weak signal (Conviction: -0%, Raw: -0%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -0% (neutral) — Raw: -0%
OI Skew Magnitude
≥15%|OI skew| 7.6% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +12.1%, OI skew -7.6% — divergent (opposite)
Conviction Quality
≥2/3 conditions0-DTE 0%, far-OTM 15%, avg DTE 30
OI Momentum
|change| ≥3%OI change +0.0% (5d) — stable
Smart Money Flow
|weighted flow| ≥20%ITM: -0%, ATM: +2%, OTM: -2% — neutral (ITM/ATM divergent)
Sector Relative≤40% or ≥60%
Sector P/C percentile 64% — bearish vs sector
Activity
Unusual activity?
4.8
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks3/8 checks passed
Volume Surge
≥1.5xVolume 0.8x avg — normal
Turnover Rate
≥15%Vol/OI 20.8% — high turnover
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change +14.8% (5d) — building
Sector Relative≥60%
Sector activity percentile 94% — very active vs sector
Trade Quality
≥30%Large trade volume 8% — mostly retail
Execution Urgency
≥60%Aggressive execution 24% — patient
Flow Conviction
≥30Conviction -0 (bearish) — mixed
Liquidity
Can I trade efficiently?
6.3
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks4/8 checks passed
Tradeable Spread
≤5.0%Spread 3.6% — acceptable
Adequate OI
≥10,000OI 1,074,930 — deep
Active Volume
≥500Volume 223,058/day — active
Reasonable Cost
≤$0.50$0.18 to cross — cheap
Strike Coverage
≥5 strikes0 liquid strikes — limited options
Sector Relative≤40%
Sector spread percentile 99% — much wider than sector
Order Book Depth
≥100 contractsDepth 35.5 contracts (bid:16.9 ask:18.6) — thin
Execution Quality
<1.0%Avg slippage 3.62% — poor
Timing
Is now a good time?
7.5
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope -11.8% — contango
IV Percentile Clarity
<30 or >70IV percentile 100% — seller opportunity
Event Detection
≥10pts kinkIV kink -6.5pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 35.00 — 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 -0% @ 50% consistency — unclear
Smart Money Timing
≥40 composite scoreScore 38 (ITM 20% + inst 8%) — retail dominated
Directional Strategy Fit
Option Buyers
Long Calls6.0
bullishIV cheap, mixed flow
Long Puts6.0
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put5.3
bullishIV too cheap, mixed flow
Covered Call5.2
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.