Another Massively Profitable Trade Hits the Tape in SanDisk Corp. (SNDK)

SanDisk Corp. (SNDK) is a California based data storage solutions and digital storage media manufacturer. At the time of this post , SNDK is currently trading at 82.80, up 4.68% on the day following yesterday’s news release regarding new product innovations for large data storage. Even with today’s move higher, SNDK is still trading firmly within the lower portion of its 52 week trading range of 73.03-108.77, though today’s move higher does represent a significant break upward through 80.00 level resistance on a daily chart.

Earlier today a trader put on a very bullish options position in SNDK just before the stock ripped to session highs. A trader bought 2,220 SNDK Apr 92.5 Calls for $0.65 about 11 minutes after the open. SNDK was trading at $80.26 when the trade hit and is now trading at $82.80. These calls have ripped higher with the stock and have already traded as high as $1.00 today making this an extremely profitable trade.

Trade: A trader bought 2,220 SNDK Apr 92.5 Calls for $0.65
Risk: $65 per 1 lot
Reward: Unlimited
Breakeven: $93.15

If a trader would have bought a 20 lot of these calls they would have a profit of $700 at the highs. Another big winner in SNDK on OptionHacker!