A notable options trade hit SNDK with a June 18, 2026 $1,150 put sweep traded at the ask, indicating aggressive buying interest. The trade had a reported size of 200 contracts and total volume of 200 contracts, compared to just 5 open interest. This produced a very elevated V/OI ratio of 40.0x. That suggests this activity is likely new positioning rather than simply closing an existing position.
The contracts traded at $197.20, representing approximately $3.9 million in premium paid, making it a sizable bet. With SNDK trading around $1,097.33, the put was already in-the-money at the time of the trade, and the contract has about 49 days until expiration. This gives the buyer several weeks for movement in the stock or volatility expansion to work in their favor.
Volume and Open Interest Data
The SNDK $1,150 put expiring 06/18/2026 showed a major spike in activity on 04/30/26. On that day, volume jumped to 207 contracts while open interest was only 5 contracts. This creates an extremely elevated volume-to-open-interest ratio of about 41.4x, pointing to unusual and likely fresh positioning in the contract.
Open interest only increased by +1, which suggests much of the day’s volume may not yet be fully reflected in OI or could include intraday trading activity. The contract’s close was $194.03, down from $218.00 the prior day and $259.23 on 04/28. Meanwhile, implied volatility remained very high at 103.34%. Overall, the chart highlights a sharp one-day surge in put activity, with volume far exceeding existing open interest.
What’s Happening with SNDK
SanDisk has emerged as one of the most aggressive beneficiaries of AI‑driven demand for high‑performance flash and storage, with its stock soaring more than 20‑plus times since being spun off from Western Digital in early 2025 and recently joining the Nasdaq 100. The inclusion into the index has attracted substantial passive inflows and trader attention. The company’s most recent reported quarter (fiscal Q2 2026) showed a sharp fundamental inflection, with revenue of about 3.03 billion dollars, up roughly 61% year over year, and non‑GAAP EPS of 6.20 dollars. The results beat expectations by more than 70% as higher pricing per gigabyte and rising exabytes sold dramatically expanded gross margin.
Management guided for another powerful step‑up in Q3 with revenue of 4.4–4.8 billion dollars and non‑GAAP EPS of 12–14 dollars, and investors are now focused on the April 30, 2026 Q3 earnings release to see whether AI‑related datacenter demand and tight supply can sustain this new earnings power.
Strategically, SanDisk is leaning into its role at the center of next‑generation infrastructure: datacenter revenue grew more than 60% sequentially last quarter, AI customers are rapidly scaling deployments, and the company has also moved into industry‑standardization efforts, partnering with SK hynix around new memory interface standards to support future growth.
About SNDK
Sandisk is a global storage and memory technology company focused on NAND flash memory, SSDs, and data storage solutions. Its products are used across consumer electronics, PCs, gaming systems, mobile devices, enterprise/cloud storage, automotive, industrial, and connected-device markets. The company is best known for flash-based products such as solid-state drives, memory cards, USB drives, embedded storage, and storage components.
Sandisk operates as a major flash semiconductor storage company and became an independent public company again after being spun off from Western Digital in 2025. Today, the company is increasingly tied to demand for high-performance storage driven by cloud computing, AI infrastructure, and data-heavy applications.
Analyst Ratings
| Analyst / Firm | Rating | Updated |
|---|---|---|
| Morningstar | 2 stars | 04/14/2026 |
| LSEG | Outperform | 04/29/2026 |
| Schwab Equity Ratings | D | 04/29/2026 |
The analyst ratings shown for SNDK are mixed, with a clear split between positive and negative views. LSEG has the most bullish rating in the image, assigning SNDK an Outperform rating as of 04/29/2026. On the other hand, Morningstar rates the stock 2 stars, which leans negative.
Meanwhile, Schwab Equity Ratings gives SNDK a D, also signaling a cautious or bearish view. Overall, the image suggests Wall Street sentiment is not strongly unified, with one bullish rating offset by weaker ratings from Morningstar and Schwab.
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Disclaimer: Options trading involves significant risk and is not suitable for all investors. You may lose the entire investment, and certain strategies may result in losses exceeding the initial amount invested. Past performance does not guarantee future results. This content is for informational purposes only and should not be considered investment advice. Always consult a financial or tax advisor before making investment decisions.
