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SANMSanmina Corp

Options Analysis Report•PRINTED CIRCUIT BOARDS
Market Cap $10.4B|NASDAQ
● 2026-08-31$194.01
NEUTRAL
Analysis: 2026-08-28 EOD data
1Y +65.7%YTD +21.8%7D +4.6%
521
30D
±16.9%
24%

SANM Options Overview

IV is elevated. Conditions favor premium sellers.

REWARDS

RISK ANALYSIS

4.9VALUESENTIMENTACTIVITYLIQUIDITYTIMING

Snowflake Analysis

Favorable conditions for premium sellers

Learn
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SANM Gamma Walls

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Value

Is IV priced right?

5.3
ExpensiveCheap

Measures whether options are cheap, fair, or rich relative to historical and peer

levels.

Risk Checks4/9 checks passed
≤35%

IV Rank 87.0% — elevated vs history

<1.05x

IV/HV 1.10x — IV premium over HV

Sector Relative≤50%

Sector percentile 70% — above sector median

<1.1x

Front/Back 0.85x — contango

<1.25x

Put/Call IV 1.16x — elevated

<80%

ATM IV 65.7% — normal range

<80%

Effective IV 88.6% (ATM 65.7% + spread 11.5% + bias) — expensive

<3.0%

Total drag 20.63% (spread 11.47% + slippage 9.16%) — high friction

≥5.0

Vega efficiency 51.26 (vega 58.800 / spread 11.47%) — efficient

Sentiment

Bullish or bearish?

5.1
BearishBullish

Analyzes

,
, and flow direction to determine market bias.

Risk ChecksVery Bearish - Strong signal (Conviction: -39%, Raw: -51%)
|net sentiment| ≥25%

Conviction-weighted: -39% (strong bearish) — Raw: -51%

≥15%

|OI skew| 28.0% — call-heavy

Same sign, |vol skew| ≥10%

Vol skew +71.2%, OI skew +28.0% — aligned

≥2/3 conditions

0-DTE 0%, far-OTM 15%, avg DTE 30

|change| ≥3%

OI change +0.0% (5d) — stable

|weighted flow| ≥20%

ITM: -19%, ATM: -64%, OTM: -61% — strong bearish (ITM/ATM aligned)

Sector Relative≤40% or ≥60%

Sector P/C percentile 23% — very bullish vs sector

Activity

Unusual activity?

3.7
QuietActive

Detects volume surges,

, and unusual options activity that may signal moves.

Risk Checks2/8 checks passed
≥1.5x

Volume 0.6x avg — normal

≥15%

Vol/OI 3.9% — normal turnover

≥2 days

1 day(s) elevated — may be one-day event

≥5%

OI change +3.1% (5d) — building

Sector Relative≥60%

Sector activity percentile 60% — active vs sector

≥30%

Large trade volume 0% — mostly retail

≥60%

Aggressive execution 44% — patient

≥30

Conviction -39 (bearish) — moderate

Liquidity

Can I trade efficiently?

3.2
IlliquidLiquid

Evaluates

, volume depth, and open interest for trade execution quality.

Risk Checks2/8 checks passed
≤5.0%

Spread 11.5% — wide

≥10,000

OI 13,267 — adequate

≥500

Volume 521/day — adequate

≤$0.50

$0.57 to cross — expensive

≥5 strikes

0 liquid strikes — limited options

Sector Relative≤40%

Sector spread percentile 82% — much wider than sector

≥100 contracts

Depth 59.4 contracts (bid:23.4 ask:36.0) — thin

<1.0%

Avg slippage 9.16% — poor

Timing

Is now a good time?

7.3
RiskyFavorable

Considers earnings proximity,

, and event calendar for optimal entry timing.

Risk Checks7/9 checks passed
|slope| ≥5%

Slope -15.4% — contango

<30 or >70

IV percentile 87% — seller opportunity

≥10pts kink

IV kink -6.2pts — no clear event

<0.5 or >2.0

θ/ν ratio 590.36 — favors income trades

≥3 expirations

3 liquid expirations — flexible

≥60% (safe)

safe window: No events detected

<1.2 ratio

Spread ratio 1.00x — stable

≥25% strength + ≥50% consistency

Flow -39% @ 70% consistency — moderate (bearish)

≥40 composite score

Score 30 (ITM 20% + inst 0%) — retail dominated

Directional Strategy Fit

Option Buyers
Long Calls5.2
bullishIV fair, mixed flow
Long Puts5.2
bearishIV fair, mixed flow
Premium Sellers
Cash-Secured Put4.9
bullishIV fair, mixed flow
Covered Call4.8
bearishIV fair, mixed flow

For educational purposes only. Not investment advice.

The Options Desk tracks the move options price into every US earnings report the week of Aug 31, next to how much each stock has actually moved on its past prints — plus the SPY, QQQ and IWM expected ranges and the gamma walls that box them in.

More on SANM

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