SanDisk Corp. (SNDK) is a California based data and media storage solutions provider. At the time of this post (9:30AM CST), SNDK is currently trading at 81.10, up 3.91% on the day. The stock is currently still trading well within the lower portion of its 52 week trading range of 73.03-108.77, but today’s early sharp move higher represents a significant push through the 81.00 resistance level on a daily chart.
Even with the stock trading well below the cloud traders put on some very bullish positions in SNDK today. Earlier today a trader bought 2,500 on the SNDK Mar 6th Weekly 79 Calls for $1.15. These calls hit OptionHacker around 8:51 CT and the stock ripped to session highs right after the order hit. These calls soared higher with the stock and have already traded as high as $2.89 making this an absolute blowout winner.
If a trader bought a 20 lot of these calls they would have profited $3,480 at the highs. Even though the broader market is flat today unusual options activity is still able to provide opportunities like this.
Trade: A trader bought 2,500 on the SNDK Mar 6th Weekly 79 Calls for $1.15
Risk: $115 per 1 lot
Reward: Unlimited
Breakeven: $80.15
Regards,
Andrew Keene
President/Founder KeeneOnTheMarket.com
