SNDKSandisk Corporation Common Stock
Options Analysis Report•COMPUTER STORAGE DEVICES
Market Cap $218.6B|NASDAQ
● 2026-08-25$1493.12
NEUTRAL
Analysis: 2026-08-24 EOD data
1Y +3091.8%YTD +442.5%7D -8.2%
Options Vol
225,976
30D
Implied Move
±22.8%
IV Rank
6%
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?
6.0
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 99.6% — elevated vs history
IV/HV Ratio
<1.05xIV/HV 0.57x — IV ≤ HV
Sector Relative≤50%
Sector percentile 99% — above sector median
Term Structure
<1.1xFront/Back 1.11x — backwardation
Skew Normal
<1.25xPut/Call IV 1.16x — elevated
Absolute IV
<80%ATM IV 81.8% — crisis-level IV
Spread-Adjusted Value
<80%Effective IV 87.2% (ATM 81.8% + spread 2.7% + bias) — expensive
Execution Efficiency
<3.0%Total drag 4.46% (spread 2.72% + slippage 1.74%) — high friction
Vega Efficiency
≥5.0Vega efficiency 646.45 (vega 175.835 / spread 2.72%) — efficient
Sentiment
Bullish or bearish?
5.1
BearishBullish
Analyzes
put/call ratios
, open interest skew
, and flow direction to determine market bias.Risk ChecksNeutral - Weak signal (Conviction: -0%, Raw: -0%)
Flow Direction
|net sentiment| ≥25%Conviction-weighted: -0% (neutral) — Raw: -0%
OI Skew Magnitude
≥15%|OI skew| 10.4% — balanced
Volume-OI Alignment
Same sign, |vol skew| ≥10%Vol skew +13.2%, OI skew -10.4% — 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: -4%, ATM: -0%, OTM: -0% — neutral (ITM/ATM aligned)
Sector Relative≤40% or ≥60%
Sector P/C percentile 59% — bearish vs sector
Activity
Unusual activity?
4.3
QuietActive
Detects volume surges,
block trades
, and unusual options activity that may signal moves.Risk Checks2/8 checks passed
Volume Surge
≥1.5xVolume 0.8x avg — normal
Turnover Rate
≥15%Vol/OI 26.1% — high turnover
Multi-Day Persistence
≥2 days1 day(s) elevated — may be one-day event
OI Build
≥5%OI change -12.8% (5d) — unwinding
Sector Relative≥60%
Sector activity percentile 92% — very active vs sector
Trade Quality
≥30%Large trade volume 8% — mostly retail
Execution Urgency
≥60%Aggressive execution 19% — patient
Flow Conviction
≥30Conviction -0 (bearish) — mixed
Liquidity
Can I trade efficiently?
7.0
IlliquidLiquid
Evaluates
bid-ask spreads
, volume depth, and open interest for trade execution quality.Risk Checks5/8 checks passed
Tradeable Spread
≤5.0%Spread 2.7% — acceptable
Adequate OI
≥10,000OI 866,851 — deep
Active Volume
≥500Volume 225,976/day — active
Reasonable Cost
≤$0.50$0.14 to cross — cheap
Strike Coverage
≥5 strikes22 liquid strikes — good coverage
Sector Relative≤40%
Sector spread percentile 99% — much wider than sector
Order Book Depth
≥100 contractsDepth 36.5 contracts (bid:18.4 ask:18.1) — thin
Execution Quality
<1.0%Avg slippage 1.74% — fair
Timing
Is now a good time?
8.1
RiskyFavorable
Considers earnings proximity,
time decay
, and event calendar for optimal entry timing.Risk Checks6/9 checks passed
Term Structure Clarity
|slope| ≥5%Slope +10.6% — backwardation
IV Percentile Clarity
<30 or >70IV percentile 100% — seller opportunity
Event Detection
≥10pts kinkIV kink 9.8pts — no clear event
Theta/Vega Clarity
<0.5 or >2.0θ/ν ratio 79.22 — 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 Calls6.2
bullishIV cheap, mixed flow
Long Puts6.1
bearishIV cheap, mixed flow
Premium Sellers
Cash-Secured Put5.6
bullishIV too cheap, mixed flow
Covered Call5.5
bearishIV too cheap, mixed flow
For educational purposes only. Not investment advice.