SanDisk Corp (SNDK) $17.17 +5.99%
Sandisk (SNDK) gapped higher after Amtech analysts raised their price target on the stock to $21. The firm expects a solid pricing environment and a good earnings report, next Wednesday after market. Shares are up $1.38 to $17.58 and not far from session highs ($17.77). In the options market, trading is running 4X the usual, with 44K calls and 14K puts traded. On the ISE, where about 40 percent of today’s options have traded, sentiment data indicate 50 percent opening customer buyers. So, while some players might be selling to close ahead of the expiration and on today’s rally in the shares, others are probably opening new positions ahead of the earnings report. Implied vols steady at 69.
Category: All Stocks, Mid Cap Stocks, Semiconductors
Free Newsletter
If you enjoyed this article, sign up to receive more just like it.
About the Author (Author Profile)
Frederic Ruffy is a well-known trader, writer, and strategist who has spent years educating investors and creating intelligent, insightful, unbiased market observations that are frequently cited by the Wall Street Journal and other financial publications. As senior analyst, Fred provides frequent and regular notes and daily updates for activity of interest.
