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Investors with a lot of money to spend have taken a bearish stance on SanDisk (NASDAQ:SNDK).
And retail traders should know.
We noticed this today when the trades showed up on publicly available options history that we track here at Benzinga.
Whether these are institutions or just wealthy individuals, we don't know. But when something this big happens with SNDK, it often means somebody knows something is about to happen.
So how do we know what these investors just did?
Today, Benzinga's options scanner spotted 165 uncommon options trades for SanDisk.
This isn't normal.
The overall sentiment of these big-money traders is split between 35% bullish and 50%, bearish.
Out of all of the special options we uncovered, 59 are puts, for a total amount of $8,147,552, and 106 are calls, for a total amount of $9,107,901.
Analyzing the Volume and Open Interest in these contracts, it seems that the big players have been eyeing a price window from $70.0 to $420.0 for SanDisk during the past quarter.
In terms of liquidity and interest, the mean open interest for SanDisk options trades today is 436.55 with a total volume of 37,008.00.
In the following chart, we are able to follow the development of volume and open interest of call and put options for SanDisk's big money trades within a strike price range of $70.0 to $420.0 over the last 30 days.
| Symbol | PUT/CALL | Trade Type | Sentiment | Exp. Date | Ask | Bid | Price | Strike Price | Total Trade Price | Open Interest | Volume |
|---|---|---|---|---|---|---|---|---|---|---|---|
| SNDK | PUT | TRADE | BEARISH | 11/21/25 | $72.7 | $70.3 | $72.0 | $277.50 | $1.4M | 389 | 276 |
| SNDK | CALL | SWEEP | BEARISH | 12/12/25 | $70.6 | $68.0 | $68.0 | $140.00 | $1.0M | 0 | 150 |
| SNDK | PUT | SWEEP | BEARISH | 11/21/25 | $22.2 | $20.9 | $22.2 | $230.00 | $774.7K | 4.1K | 1.8K |
| SNDK | PUT | SWEEP | BEARISH | 11/21/25 | $75.2 | $72.2 | $73.81 | $280.00 | $748.4K | 377 | 139 |
| SNDK | PUT | TRADE | NEUTRAL | 11/21/25 | $70.5 | $67.9 | $69.0 | $277.50 | $517.5K | 389 | 0 |
Sandisk is one of the five largest suppliers of NAND flash memory semiconductors globally. Sandisk is vertically integrated, producing substantially all of its flash chips at manufacturing sites across Japan via a joint-venture framework with Kioxia. Sandisk then repackages most of its chips into SSDs for consumer electronics, external storage, or cloud storage. Sandisk was formerly a piece of Western Digital for nine years (after being acquired in 2016) and was spun off as an independent company in 2025.
5 market experts have recently issued ratings for this stock, with a consensus target price of $253.6.
Turn $1000 into $1270 in just 20 days?
20-year pro options trader reveals his one-line chart technique that shows when to buy and sell. Copy his trades, which have had averaged a 27% profit every 20 days. Click here for access. * Maintaining their stance, an analyst from Mizuho continues to hold a Outperform rating for SanDisk, targeting a price of $215. * Maintaining their stance, an analyst from Morgan Stanley continues to hold a Overweight rating for SanDisk, targeting a price of $263. * Consistent in their evaluation, an analyst from B of A Securities keeps a Buy rating on SanDisk with a target price of $300. * Maintaining their stance, an analyst from Wedbush continues to hold a Outperform rating for SanDisk, targeting a price of $260. * Consistent in their evaluation, an analyst from Wells Fargo keeps a Equal-Weight rating on SanDisk with a target price of $230.
Trading options involves greater risks but also offers the potential for higher profits. Savvy traders mitigate these risks through ongoing education, strategic trade adjustments, utilizing various indicators, and staying attuned to market dynamics. Keep up with the latest options trades for SanDisk with Benzinga Pro for real-time alerts.
Posted In: SNDK
