Primary read
Mixed
Options-market disagreement
Ticker Options Intelligence
SNDK options intelligence
Sandisk Corp options pressure, expected move, strike concentration, and Sharemaestro trend context.
Conviction
44
Market data through 31 Jul 2026
Checked 2 Aug 2026 04:51 · partial chain
Options-market disagreement
Mixed pressure
SNDK currently carries mixed options pressure with a 44/100 conviction score. The nearest-chain expected move is 18.9%, with volume/open-interest participation at 0.54.
Expected move
18.9%
Wider near-term move priced
Activity / OI
0.54
Current volume is elevated versus prior open interest
Put-call
0.91
Balanced tape
Trend fit
82
Options agree with trend context
Weekly backdrop
-15.4%
RS 68.0
Expected move
18.9%
Put-call volume
0.91
Volume / OI
0.54
Reference IV
1.72
Max pain
1315.00
Underlying
1214.83
Nearest expiry
7 Aug 2026
Contracts
2000
Research Brief
SNDK has a mixed chain read with 44/100 evidence alignment.
The practical question is whether the underlying confirms the options concentration. The chain prices a reference range of 984.63–1445.03; The largest call open-interest concentration is 2000.00; the largest put concentration is 1370.00. The most active strike by current volume is 800.00.
Priced range984.63–1445.03
Call concentration2000.00
Put concentration1370.00
Max pain reference1315.00
- A clear directional pressure reading develops and price begins to agree.
- The current chain read already agrees with the stored weekly trend context.
- Volatility falls and the chain remains directionally mixed.
- Front-expiry volatility is rich, so the signal may be event-driven and vulnerable to volatility compression.
Priced Move
Where the chain says movement becomes exceptional
Options imply 984.63 to 1445.03. Max pain at 1315.00 sits inside that range, 8.2% above spot.
Spot
Max pain
984.631214.83 ± 230.201445.03
Confirmation level
A close beyond 1445.03 or below 984.63 at the 7 Aug expiry would exceed the move currently priced by this chain.
Important limitation
The range is a pricing reference, not a forecast; volatility can reprice sharply after news or as expiry approaches.
Score Construction
Why conviction is 44/100
Pressure is 3/100 toward calls; conviction uses its strength, while the signal label carries its direction.
Directional pressure3 × 42%
+1.2
How strongly activity leans toward calls or puts.
Participation53 × 22%
+11.6
Volume relative to existing open interest and contract-level activity.
Trend agreement82 × 26%
+21.3
How closely the chain read agrees with the underlying trend backdrop.
Volatility96 × 10%
+9.6
The intensity of implied volatility and the priced move.
Positioning by Strike
Where open interest and current activity concentrate
The largest call open-interest concentration is 2000.00; the largest put concentration is 1370.00. The most active strike by current volume is 800.00. Open-interest concentrations show where positions exist; they are not proven support, resistance or dealer exposure.
Put open interestStrikeCall open interest
1247
530.00-56.4%
8
2506
750.00-38.3%
10
911
800.00-34.1%
30
1331
900.00-25.9%
24
442
950.00-21.8%
1252
1396
1000.00-17.7%
155
799
1100.00-9.5%
558
979
1150.00-5.3%
273
947
1200.00-1.2%
1605
241
1250.002.9%
620
315
1300.007.0%
712
3267
1370.0012.8%
418
345
1400.0015.2%
1218
1147
1500.0023.5%
1075
226
1600.0031.7%
877
143
1800.0048.2%
1181
8
2000.0064.6%
1863
Nearest spot strike Max pain strikeBars show relative OI within this expiry
Volatility Curve
Front-loaded volatility
Near-term options are materially richer than later expirations, consistent with concentrated event or immediate-risk pricing.
1.72
7 Aug
7d
1.51
14 Aug
14d
1.40
21 Aug
21d
Volatility by Strike
Downside protection premium
Out-of-the-money puts carry higher implied volatility than comparable calls, indicating richer downside protection.
975
1000
1025
1050
1068
1080
1100
1125
1150
1175
1200
1230
1255
1280
1305
1330
1355
1380
1405
1430
1455
Put IV Call IV
Historical Replay
How matured reads behaved through expiry
Forward validation is building. The earliest eligible stored read expires 31 Jul 2026; its result will appear after the matched closing reference is stored.
Directional follow-through-
Moves contained by pricing-
Average expiry move-
Validation readiness
- Versioned calculationv2 observations only
- Independent entryone read per market session
- Point-in-time referencerequired at entry
- Matched expiry closereported only after maturity
Only v2 snapshots with a point-in-time market reference are eligible. Each observation uses one read per market session and the first weekly close on or immediately after expiry. It is an evidence audit, not an executable strategy or evidence of future performance.
Evidence Quality
Usable with limits
Retained chain16%
Implied volatility100%
Two-sided quotes100%
Open interest100%
- Chain status
- Retained chain subset
- Market date
- 31 Jul 2026
- Calculation
- v2.0
- Contracts
- 2000 / 12200
- 16% of provider contracts were retained for this snapshot.
Aggregate chain data supports concentration, participation and pricing analysis. It does not identify trade aggressor, opening versus closing activity, multi-leg intent or dealer inventory.
Options Intent Radar
Earnings/event positioning
Options activity is concentrated around a live event window, so the cleanest read is event positioning rather than pure direction.
The options read is mixed, so divergence is not strong enough to classify.
Earnings/event positioning matters because it connects the options headline to the actual evidence: $479.9M of estimated gross traded notional, calls · 0-7 days · itm, and a no clean flow/price divergence backdrop. Use it as a research priority signal, then validate the chart, liquidity, event calendar, and risk before acting.
Options pressure+3
1W price-15.4%
Call premium62%
Put premium38%
Notional split
C 62% / P 38%
Estimated gross traded notional uses volume × contract multiplier × midpoint, or last price when no valid midpoint is available.
Freshness
0.54
Volume divided by open interest across the visible chain.
Trend fit
82/100
Agreement between options pressure and Sharemaestro market context.
Event window
5 Aug
Matched earnings event is 3 days away.
Aggregate chain data does not identify trade aggressor or opening versus closing activity; call/put concentration is not proof of market direction.
Calls · 0-7 days · ITM
calls cluster with 4099 contracts traded, $127.7M estimated gross traded notional, and 27% of visible notional.
$127.7M
Calls · 0-7 days · OTM
calls cluster with 21904 contracts traded, $85.1M estimated gross traded notional, and 18% of visible notional.
$85.1M
Puts · 0-7 days · ITM
puts cluster with 2815 contracts traded, $57.6M estimated gross traded notional, and 12% of visible notional.
$57.6M
Puts · 0-7 days · OTM
puts cluster with 20961 contracts traded, $41.2M estimated gross traded notional, and 9% of visible notional.
$41.2M
Calls · 0-7 days · ATM
calls cluster with 3124 contracts traded, $36.2M estimated gross traded notional, and 8% of visible notional.
$36.2M
Setup Classification
Opportunity and risk frame
Positioning agrees with the Sharemaestro trend backdrop.
The tape is pricing or displaying unusually elevated activity.
Expected move or upcoming earnings makes the setup more event-sensitive.
Activity Anomaly
Warming up
3 of 10 completed market sessions are available. More session history is needed before activity can be compared with a reliable normal.
Baseline: 3 completed sessions
Volume rank-
Volume/OI rank-
IV rank-
Market Context
Underlying confirmation
Close1214.83
1W-15.4%
RS68.0
Fair value+142.8%
Options pressure3
Speculation53
Volatility96
Trend fit82
Today Versus Normal
Stored-options context
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
30d avg - · 3/10 sessions
-
90d avg - · 3/30 sessions
-
180d avg - · 3/60 sessions
-
Pressure Trail
Recent pressure and volatility
29 Jul 16:03
Mixed
Pressure -3
Move 28.9%
29 Jul 16:20
Mixed
Pressure -5
Move 29.7%
29 Jul 16:48
Mixed
Pressure -4
Move 28.6%
29 Jul 17:10
Mixed
Pressure -5
Move 28.8%
29 Jul 17:30
Mixed
Pressure -4
Move 26.6%
29 Jul 17:52
Mixed
Pressure -3
Move 27.2%
29 Jul 18:20
Mixed
Pressure -3
Move 25.7%
29 Jul 18:40
Mixed
Pressure -2
Move 26.6%
Strike Map
Where activity is clustering
Strike530.00
Calls · V 0 · OI 8
Puts · V 709 · OI 1247
Strike535.00
Calls · V 1 · OI 21
Puts · V 106 · OI 55
Strike540.00
Calls · V 0 · OI 1
Puts · V 84 · OI 15
Strike545.00
Calls · V 0 · OI 0
Puts · V 17 · OI 3
Strike550.00
Calls · V 0 · OI 1
Puts · V 258 · OI 80
Strike555.00
Calls · V 0 · OI 0
Puts · V 19 · OI 1
Strike560.00
Calls · V 0 · OI 0
Puts · V 24 · OI 14
Strike565.00
Calls · V 0 · OI 0
Puts · V 6 · OI 1
Term Structure
Expiration activity
Expiry7 Aug 2026
Contracts964
Avg IV1.72
Put-call0.92
Expiry14 Aug 2026
Contracts870
Avg IV1.51
Put-call0.83
Expiry21 Aug 2026
Contracts166
Avg IV1.40
Put-call0.92
Skew
Call/put IV balance
7 Aug 2026Put IV premium
Call IV1.68
Put IV1.77
Skew0.09
14 Aug 2026Put IV premium
Call IV1.48
Put IV1.56
Skew0.08
21 Aug 2026Put IV premium
Call IV1.38
Put IV1.44
Skew0.06
Contract Tape
Most active contracts
ContractSNDK260807C01400000
SideCall
Expiry7 Aug 2026
Strike1400.00
Volume2442
OI1218
IV1.67
ContractSNDK260807C01500000
SideCall
Expiry7 Aug 2026
Strike1500.00
Volume2283
OI1075
IV1.68
ContractSNDK260807C00800000
SideCall
Expiry7 Aug 2026
Strike800.00
Volume2050
OI30
IV1.87
ContractSNDK260807C01300000
SideCall
Expiry7 Aug 2026
Strike1300.00
Volume1969
OI712
IV1.70
ContractSNDK260807P01000000
SidePut
Expiry7 Aug 2026
Strike1000.00
Volume1877
OI1396
IV1.79
ContractSNDK260807C01200000
SideCall
Expiry7 Aug 2026
Strike1200.00
Volume1564
OI1605
IV1.72
ContractSNDK260807P01200000
SidePut
Expiry7 Aug 2026
Strike1200.00
Volume1440
OI947
IV1.72
ContractSNDK260807P00650000
SidePut
Expiry7 Aug 2026
Strike650.00
Volume1280
OI193
IV2.01
Research Graph
Related research and context
Sharemaestro research
Related News
Market Watch
Sandisk Corp (SNDK) gives back 38.0% over four weeks as pressure builds22 Jul 2026 10:59
Sandisk Corp (SNDK) snaps higher while the four-week tape stays negative17 Jul 2026 04:59
Sandisk Corp (SNDK) rebounds as weekly trend remains active15 Jul 2026 09:30
Sandisk Corp (SNDK) weekly setback challenges an active storage rally9 Jul 2026 04:10
Sandisk Corp (SNDK) twelve-week advance reaches 254.8%23 Jun 2026 10:45
Sandisk Corp (SNDK) carries a 254.8% twelve-week surge into weekly close22 Jun 2026 15:31
Earnings
Plain English Guide
Options context
What usually looks constructive
What usually looks cautious
Options can move quickly and can lose value fast. Treat this as research context, not a buy or sell instruction.