Schaeffer’s Daily Option Blog: Pessimism Lingers as SanDisk (SNDK) Soars

SanDisk (NASDAQ: SNDK) was the center of some heavy option yesterday, as more than 86,000 contracts crossed the tape, according to data from WhatsTrading.com. This volume was more than three times the equity's average daily trading volume of 24,845 contracts. Furthermore, we find that nearly 73% of the volume changed hands on the call side.

In the front three months of options, the most active contract was the January 2010 21 put, which added 3,600 new contracts. The January 2010 27 call added roughly 3,000 new contracts.

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