Core Viewpoint - SanDisk Corp has entered the S&P 500 Index, leading to a significant increase in its stock price, which peaked at $237.77 before stabilizing around $215.24, indicating a potential 13.5% gain for November [1] Group 1: Stock Performance - The stock surged to a high of $237.77 following its inclusion in the S&P 500 Index but later pulled back to $215.24, showing volatility in response to the news [1] - The 30-day moving average has provided support for the stock, indicating a potential upward trend [1] Group 2: Short Interest and Trading Activity - Short interest in SanDisk has increased, now representing 5.5% of the stock's available float, which may have contributed to the stock's bounce due to short covering [1] - In the options market, call traders are actively targeting SanDisk, with 26,000 calls exchanged, significantly higher than the typical volume, compared to only 7,518 puts [2] Group 3: Options Trading Insights - The December 40 call is the most popular among options traders, with new positions being opened, indicating bullish sentiment [2] - SanDisk's stock tends to outperform options traders' volatility expectations, as reflected in its Schaeffer's Volatility Scorecard (SVS) rating of 91 out of 100 [2]
SanDisk Stock Pulls Back From Gains After S&P 500 Debut