Volume Spike Investor

SanDisk Corp. (NASDAQ: SNDK) is seeing some unusual options trading in the near months contracts today.  Here we show the options contracts by strike and by month with open interest there:

JUL08 CALLS   Volume   OpInt
$25.00            9,821    25,781
$27.50            17,840  29,408
$30.00            1,957    11,285
$32.50            4,567    10,185

AUG08 CALLS  Volume  OpInt
$20.00            6,878    1,398
$22.50           12,736   3,663
$25.00            1,463    2,224

This is occurring on a day where the stock itself is getting shelled.  We have seen a major drop that took place over the last hour and shares are down some 6.1% at $17.56 as of 12:08 PM EST.  We have also seen 7.5 million shares traded.

Avg. Volume:       9.9 million shares
52-week range:  $18.63 to $59.75
Market Cap:        $3.9+ Billion

Jon C. Ogg
July 1, 2008