Live: Spot $1,447.05 (−0.34% vs. previous day, +2.0% since Wed morning).

Structurally, there has been a massive shift since the morning snapshot:

Wednesday Intraday Progression

Metric	Wed 10:05 ET	Wed 15:55 ET (Now)	6h Change
Spot	$1,418.00	$1,447.05	+$29 (+2.0%)
Net Dealer GEX	−$0.20M	−$3.30M	16x deeper short
Gamma Flip	$1,397	$1,393	Flat
Buffer	+1.5%	+3.9%	Slightly expanded
Deepest Short-γ	$1,781 (−$2.43M)	$1,620 (−$4.83M)	+$160 closer, 2x more intense
Deepest Long-γ	$1,168 (+$1.11M)	$1,290 (+$2.62M)	+$122 higher, 2.4x stronger
Top Strikes (Filter)	2,819 / 2,539	2,480 / 2,111	Slightly reduced

Structural Developments

Both gamma peaks have moved toward the spot price AND intensified. This is the exact opposite of the morning diagnosis ("thinning structure"). Three interconnected observations:

1. The "Squeeze Magnet" moves from $1,781 to $1,620. Over the course of the US trading session, massive call activity concentrated in the $1,500–$1,650 corridor. This is the same area we saw yesterday afternoon at $1,500 (−$3.00M)—only this time it’s even deeper at −$4.83M. Quantitatively, this is the most intense short-gamma cluster since the start of our analysis.
2. The Long-γ anchor at $1,290 is becoming a formidable defense. At +$2.62M, this is the strongest concentration of Put Long Gamma we have ever seen. It is strong enough to mechanically absorb a spot drop below $1,300, as dealers would be forced to actively buy the stock there.
3. Net GEX at −$3.30M is the second-deepest short position since inception (the record was May 7th with −$3.23M at the deepest point in the profile, though not at the spot). For comparison: May 13th morning was −$0.20M, yesterday noon was +$0.07M, and now we are at −$3.30M. Squeeze mechanics have been aggressively reactivated in the last few hours.

Full Timeline (8 Data Points)

Date/Time	Spot	Net GEX	Flip	Buffer	Min-γ
07.05. EOD	$1,340	−$1.20M	$1,264	+6.0%	$1,491 (−$3.23M)
08.05. EOD	$1,562	−$1.12M	$1.095	+42.7%	$1,749
11.05. 15:55	$1,548	−$1.34M	$1,233	+25.5%	$1,761
12.05. 12:30	$1,382	−$0.33M	$1,358	+1.8%	$1,834
12.05. 15:55	$1,452	+$0.07M	$1,448	+0.3%	$1,493
13.05. 10:05	$1,418	−$0.20M	$1,397	+1.5%	$1,781
13.05. 15:55	$1,447	−$3.30M	$1,393	+3.9%	$1,620 (−$4.83M)

This is quantitatively a classic "Reload-and-Reignite" profile: after yesterday’s crash, the structure was hollowed out (morning), but aggressive new Call OI was built at $1,500–$1,650 during the day, breathing fresh life into the squeeze mechanics. This suggests active retail or speculative buyers "buying the dip" via leveraged OTM calls.

Data Quality Caveat

I am approaching these large intraday shifts with some caution. Possible explanations:

• Genuine new OI via intraday adjustment prints (Yahoo sometimes shows new OI before the official EOD settle)—this is the most likely explanation.
• Intraday IV shifts amplifying gamma magnitudes even without changes in OI.
• Strike concentration closer to ATM (Spot at $1,447 vs $1,418) makes $1,500–$1,650 calls more gamma-sensitive.

In reality, it’s likely a combination of all three. While the OI change isn't literally 16x, the Gamma impact is, because $1,500–$1,650 calls are far more gamma-active with the spot at $1,447 than they were at $1,418.

Current Trading Implications

The setup has suddenly turned "bullish-mechanical" again:

• Squeeze Magnet at $1,620 is only +12% away—reachable within 1-2 trading days if momentum holds.
• −$4.83M Short Gamma at that strike means a run toward it would trigger intense hedging (buying) by dealers.
• Long-γ cushion at $1,290 mechanically limits the downside.
• Note: We are only +3.9% above the Flip. The setup remains fragile.

Key Levels:

• Above $1,500: Initial resistance + entry into the squeeze magnet corridor → acceleration possible.
• $1,620: Deepest Short-γ → maximum hedging pressure → but also resistance due to heavy Call OI.
• Below $1,393 (Flip): Regime shift → mean reversion → stabilization toward $1,290.
• $1,290: Strong Put-γ anchor; mechanical line of defense.

If you are long SNDK today:

• The setup has significantly improved since this morning. The mechanical tailwind is back.
• Stop below $1,380; Target for the first tranche at $1,500; main target $1,620.
• IV is still high—if you are holding calls, factor in the Vega drag.

Observation for tomorrow: I am very curious to see the EOD settlement OI tonight. If the +$3M Short-γ move is confirmed in the official overnight settle, we are looking at the strongest structural squeeze reload since the original wave.

Heads up — significant shift. SNDK fell intraday Tuesday to $1,397.21 (12:25 ET / 18:25 CET) — that’s a -9.73% drop since yesterday at 15:55 ET ($1,547). We are now sitting directly at the Gamma Flip:

Three-Point Comparison: Today vs. Yesterday

Metric	Mon 12:40	Mon 15:55	Tue 12:25 (NOW)	Δ since yesterday
Spot	$1,560	$1,548	$1,397	-9.7%
Net GEX	-$1.38M	-$1.34M	-$0.33M	+$1.01M (significantly less short)
Call GEX	-$2.43M	-$2.42M	-$2.39M	Flat
Put GEX	+$1.04M	+$1.09M	+$2.06M	+89% (doubled)
Gamma Flip	$1,254	$1,233	$1,347	+$114
Buffer above Flip	+24%	+25%	+3.8%	Practically AT the flip
Deepest Short-γ	-$1.73M @ $1,775	-$1.64M @ $1,761	-$1.98M @ $1,834	Further OTM, deeper
ATM IV May-15	118%	111%	113%	Slightly up (panic 3 days to expiry)
ATM IV May-22	122%	119%	114%	Continuing lower

What this means mechanically

We are at the regime-change point. With the spot at $1,397 vs. the flip at $1,347, we only have a 3.8% buffer left. Remember my analysis from Friday: "A break below the flip = regime shift to Long Gamma → Dealers buy dips, sell rallies → Mean-reversion mode." That is exactly what could trigger today.

The doubling of Put Gamma is the real driver here. All the protective puts built in the $1,100–$1,400 range over the last few days were far OTM (out-of-the-money) with low gamma when the spot was at $1,560. At $1,397, they are suddenly near-ATM — and since gamma peaks at the money, dealer Put-Long-Gamma has exploded from $1.09M to $2.06M. This is structurally stabilizing for the stock on the downside.

Volume Anomaly: At 11:55 ET today, we saw a 5-minute bar with 8.86 million shares, followed by another 9.11 million at 12:10 ET. For context, "normal" 5-minute bars are around 100K–200K. These are classic liquidation bars or block trades. The 12:10 bar showed a range recovery from $1,403 → $1,418 (+$15) before dropping right back — it looks like squeeze-and-cover or halt-reopening mechanics.

Today’s flow shows something interesting

Side	Top Volume	Strike	% OTM
Calls	4,072	$1,500	+7.4%
Calls	3,367	$2,000	+43%
Calls	2,334	$1,900	+36%
Calls	2,050	$1,600	+14.5%
Calls	2,007	$1,700	+21.7%
Puts	3,727	$1,250	-10.5%
Puts	3,043	$1,300	-7.0%
Puts	2,788	$1,000	-28%
Puts	1,490	$700	-50%
Puts	1,249	$490	-65%

Two striking observations:

1. Call volume is back in the "Squeeze Zone" ($1,500–$1,700 accounts for 10K+ contracts). This differs from yesterday, where the consensus was $2,000+. Someone is actively buying the pullback — dip-buyers, bottom-fishers, or hedged long re-entries.
2. Tail Puts at $700 and $490 with 2,700+ contracts is wild. These aren't just hedges anymore; these are genuine crash bets or volatility-long trades. $490 is -65% from the current spot. For a stock that traded there three weeks ago, it’s not impossible — but the volume spike there today is noteworthy.

P/C Volume Ratio: Currently 1.15 (yesterday 1.24) — slightly less put-dominant, but still put-heavy.

Tactical Consequences

• Above $1,347 (Flip): The squeeze mechanism remains active, but it's thin. The buffer is only 3.8% — one more 4% move down and we enter the mean-reversion regime. A very fragile setup for trend-following plays.
• On a break below $1,347: This is now the most important quantitative level. Dealer positioning flips to Long Gamma → they actively buy every dip below and sell every rally → the stock tends to mean-revert back upward. This sounds good initially, but it means the up-momentum thesis is dead. You'd see a grinding, range-bound consolidation rather than a new parabolic run.
• If Spot returns above $1,500: The setup partially heals, the buffer returns to +10%, and the reactivation of the $1,500–$1,700 calls traded today could re-ignite the squeeze.

Specifically for your position:

• If long shares directly: $1,347 is your quantitative stop level. A break below means the squeeze story is mechanically over (even if the stock doesn't crash, the engine that drove the run is gone).
• If long LETFs (SNXX/SNDU): You are down ~18-19% since yesterday. Vega-drag is real, and the IV crush has begun. Holding only makes sense if you believe in a recovery above $1,500.
• If long Call options: Vega crush + Spot drop = a double hit. Re-check your position sizing.

Bottom line: You’re asking at the perfect time. We are at the quantitative tipping point. The next 1-2 hours until the close (or Wednesday morning at the latest) will decide if this is a consolidation within a squeeze or a true regime change. Keep these levels in sight: $1,347 down, $1,500 up.

https://preview.redd.it/xb1d31j6jq0h1.png?width=1440&format=png&auto=webp&s=30df1ff545779992a1e81dddc260d04daf78b166

Spot just dropped further to $1,382.33; the Flip is now at $1,358 — Buffer compressed to +1.8%. Here is the full Gamma curve with all three components:

Quantitative Breakdown of the Curve

1. Call Gamma (Red): Negative across the entire range and increases as the spot price rises (peaking at $1,700–$1,800: -$2.79M). This is a standard trajectory — as spot moves up, more OTM (out-of-the-money) calls move toward ATM/ITM, and their gamma contributions stack up.
2. Put Gamma (Green): A clear bell curve peaking at $1,200–$1,250 (+$2.45M). The protective puts built over the last few days are concentrated in this cluster. As the spot price approaches $1,200, the stabilizing "Dealer Put-Long-Gamma" component increases.
3. Net Gamma (Blue): This creates a classic S-curve:
   • Long Gamma Zone ($700–$1,358): (Highlighted Green) Dealers buy dips, sell rallies → Stabilizing.
   • Flip Point ($1,358)
   • Short Gamma Zone ($1,358+): (Highlighted Red) Dealers buy rallies, sell dips → Destabilizing (Squeeze Mechanics).
   • Maximum Long γ at $975 (+$0.82M): This is where the stock would be most heavily "anchored" by mean-reversion hedging.
   • Maximum Short γ at $1,800 (-$2.07M): This is where squeeze acceleration would be most intense.

The Critical Observation

Spot ($1,382) is sitting extremely close to the Flip ($1,358) — only a $24 or 1.8% buffer. This is the tightest positioning since this analysis began. Look at the compression over time:

Date	Spot	Flip	Buffer
May 07 (Wed)	$1,340	$1,264	+6.0%
May 08 (Fri)	$1,562	$1,095	+42.7%
May 11, 12:40 ET	$1,560	$1,254	+24.4%
May 11, 15:55 ET	$1,548	$1,233	+25.5%
May 12, 12:25 ET	$1,397	$1,347	+3.8%
May 12, 12:30 ET	$1,382	$1,358	+1.8%

The mechanics have completely inverted within 24 hours. Yesterday, the Flip was 25% below spot — a very robust squeeze setup. Today, we are 1.8% above it — one sneeze and it breaks.

Potential Scenarios

Scenario A — Spot breaks $1,358 to the downside:

• Net GEX becomes positive → Long Gamma regime.
• Dealers begin buying dips and selling rallies.
• Mean-reversion pull toward $975 (deepest long γ) — though realistically, we’d likely see choppy action in the $1,200–$1,400 range.
• The trend thesis is mechanically dead.
• Vol Crush accelerates (realized volatility falls without a trend driver).
• For your position: No mass sell-off, but no comeback run either.

Scenario B — Spot turns and stabilizes above $1,358:

• Remains in Short Gamma mode.
• Squeeze setup stays nominally active, but the magnitude is half as strong as last Thursday.
• On recovery >$1,500: Reactivation of the call clusters traded today ($1,500–$1,700).
• The $1,800 magnet point becomes relevant again.
• For your position: Trend-continuation setup intact, but with a paper-thin margin of safety.

Scenario C — Ranging between $1,347–$1,420 for several days:

• Profile Erosion: Theta decay kills the options daily; IV continues to crush.
• LETF/Call positions bleed out passively.
• The direct stock position simply waits for a resolution.
• Statistically: Prolonged consolidation at Flip levels usually ends in the direction of the prior trend (up) — but not always.

What the components are telling you

• The Put-Gamma Anchor ($1,200–$1,250) is the most important structural insight from this curve. Even if Spot briefly breaks $1,358, there is substantial Long-Gamma stabilization below. A free fall is mechanically very unlikely — dealers would actively defend $1,250–$1,300 with stock purchases.
• Flat Call Gamma starting at $1,700–$1,800 confirms what I sketched last week: the squeeze mechanics do not intensify above those levels. It peaks there and then actually decreases. If the stock hits $1,800, there is no additional mechanical "boost."
• Asymmetry around the Flip: Net γ turns positive very quickly below $1,358 (+$0.33M at $1,300), but only turns negative gradually above it (-$0.27M at $1,400). This means a break lower triggers an immediate, strong stabilizing response, while a break higher only builds acceleration gradually. The asymmetry favors downside protection.

Bottom Line: This curve currently looks like a classic late-phase profile: Put clusters built up below (hedges), and Call walls exhausted above. The "big squeeze magic" is quantitatively over. What remains is a stock that is mechanically well-anchored between $1,200 and $1,800 — with the current Flip level of $1,358 acting as the short-term tipping point.

SNDK closed Friday at $1,562.34—representing a +16.6% surge on Friday alone and for the week, significantly outperforming the +10% projected in the model scenario. The data is fresh:

https://preview.redd.it/upvxi1vlwa0h1.png?width=900&format=png&auto=webp&s=2ea778218453d43e75542f7bd5160724e26cb204

What has changed since the last analysis

Metric	1 Week Ago (May 7)	Now (May 8)	Change
Spot	$1,340	$1,562	+16.6%
Net Dealer GEX	−$1.20M	−$1.12M	−7% (nearly unchanged!)
Gamma Flip	$1,264	$1,095	−13.4%
Buffer above Flip	+6.0%	+42.7%	+36.7 percentage points
Deepest Short-$\gamma$ Point	$1,491 (−$3.23M)$	$1,749 (−$1.23M)$	Magnitude decreased by 62%
Total Call OI	301,385	267,570	−11%
Total Put OI	265,820	284,451	+7%
P/C OI Ratio	0.88 (Call-heavy)	1.06 (Put-heavy)	Regime Shift
ATM IV (May-15)	97%	115%	+18 pp
Max Pain (Front-Expiry)	$1,235	$1,000	Effectively decoupled

Forecast Validation

My May 7 model predicted the following for a +10% move over 7 days:

• Net GEX: Predicted −$1.70M vs. Actual −$1.12M
• Flip: Predicted $894 vs. Actual $1,095
• Deepest Short-$\gamma$: Predicted −$2.09M vs. Actual −$1.23M

All three indicators were directionally correct, and the magnitude was actually conservative—the actual squeeze erosion was even stronger than predicted. The mechanism I described (front-week decay + ITM decay outweighing retail rebuild) is functioning quantitatively.

Fundamental Shifts

1. P/C OI Flip is significant. One week ago, the ratio was 0.88 (Calls dominant). Now it is 1.06 (Puts dominant). We see +18,600 net Puts built and −33,800 Calls removed. This is no longer "rabid retail call buying"—this is hedging activity, likely from institutions protecting long positions. A "squeeze thesis" requires the opposite: explosive growth in Call OI at increasingly higher strikes. We aren't seeing that.
2. IV has exploded to 110–116% across the curve. That is an 18-point jump for the front month. Realized volatility over the last 7 days is ~250% annualized. Since IV is still significantly below realized vol, options remain "underpriced" relative to the price action. This suggests a non-equilibrium market still playing catch-up with its own volatility.
3. Max Pain at $1,000 is no longer operational. At −36% from spot, it is beyond any realistic pin mechanism for the remaining 5 trading days. The OI structure is completely decoupled from spot reality; the Max Pain argument is dead.
4. Strike density has moved up, but not explosively. New calls at $1,700 (1,939), $1,800 (1,515), $1,900 (2,520+2,173), and $2,000 (2,147). Together, this is ~10k contracts—indicative of institutional positioning rather than retail mania. A true retail cluster would look like 20k+ contracts per strike between $1,500 and $1,700, which is absent.

What this means for your trade

The setup has become structurally weaker, not stronger:

• Squeeze "Powder" has discharged by 62%, and new fuel isn't arriving with the same magnitude.
• The Flip has dropped to $1,095. A 43% buffer is massive, but it also means a drop to $1,200 is within the "stabilization zone" and would not be mechanically accelerated to the downside. This is good for holders but explicitly allows for a 15–20% pullback without a "crash" mechanism.
• The deepest Short-$\gamma$ is now at $1,749 (~12% above spot). If SNDK rallies there, there is still a small mechanical tailwind, but it's only half the magnitude of last week.

The real risk has shifted:

• Theta is the enemy: With IV at 115%, every day SNDK moves sideways or down, the long-vol component of options will be eaten alive. If you hold Calls or LETFs, time decay is now your primary threat, while Gamma is no longer your primary friend.
• Sentiment Signal: The P/C ratio flip should be taken seriously. Institutions that were right about the Q3 NDQ100 setup are now actively hedging.
• Volatility Drag: Single-stock LETFs (SNXX/SNDU) will accumulate brutal vol-drag with IV at 115% the moment the "drift phase" pauses. The compounding bonus will flip into a compounding tax.

Critical Levels:

• Above $1,500: Trend intact, squeeze mechanics present but weakened.
• Break below $1,350: New test zone; not a flip break, but a sentiment break.
• Break below $1,095: Regime change to Long-Gamma $\rightarrow$ Mean reversion setup.
• First Short-Squeeze Reload Zone: $1,749 (but with half the "juice").

Bottom Line: The stock can certainly continue to climb, but no longer "because of a gamma squeeze." That argument has measurably shrunk with the expiration of the May-8 weeklies. Whatever drives it higher now must be index-inclusion flows, fundamental re-rating, or a fresh retail wave—all of which are less mechanical and less predictable than last week's GEX story. Adjust position sizing accordingly.

Going by the posts in recent days, people don't see that it is a feedback loop of gamma squeezing on this stock.

The higher the price goes, market makers sell new strikes.

More were added on this past Monday.

Wednesday is always a no-man's land day, as the previous week's run up and options expiry has been fulfilled.

Late Thursday and Friday is delta-hedging to remain delta-neutral from institutions that sold those options.

4.28pm today, two mins before close, 700,000+ green candle.

Tomorrow the buying should continue, and again, squeezing back into Monday/Tuesday, and then independent shorts being liquidated (which is what we saw on Tuesday, and into AH).

It's a feedback loop, and has been for most of the past twelve months. MMs lost control on this stock a long time ago.

Yesterday, Wednesday no-man's land, I really saw sentiment starting to pick up on the WSB movestomorrow/daily, unlike I had never seen before. People posting how they stood on the sidelines since 200, and just capitulating to join the rocket.

So much so, I'm still averaging up. Putting another 20K into it tomorrow morning at open and will gladly post proof.

Anyone that thinks it is wrong, look at that 4.28pm candle. SNDK wasn't even in the top imbalances as a buy today.

Edit:

I know someone on Trader TV live was shorting it yesterday, and made a packet. They are prop floor traders, who have to be zeroed out by close of bell.

Now imagine everyone not on a prop floor, trading with their own capital, that don't need to be zeroed...(shoutout to the Stocktwits that have been panicking since Monday)

Do you think the Stocktwits independents took profits? Not a chance... not from 1400.... They got greedy on their RH accounts playing successful day traders. They went momentum trading, and the momentum isn't with them. Expect more of their saltiness tomorrow. Don't have a stocktwits account, just go to:

https://finviz.com/quote?t=SNDK&p=d

And the stocktwits feed shows live on the right below the chart. The salt is fucking immense since Monday. Seen so many people/comments about how they lost everything, and accrediting it to a user that was posting 2X leverage Short SNDK. (Which is why I'm against people posting 2X long SNDK posts on the flipside. Posted about it two days ago, post got removed... here we are two days later down. SNDK shares would have been better right? Those now feeling it.)

RIP.

Edit 2: Full disclosure, we need to stay above 1300. We lose the 1300 battle, that's the sign that MMs have started to get it under control finally. We lose 1300 support, we'll downtrend hard, and stop loss triggers. So far... legends and stock buyback algo, keeping it 1300+.

N.B: So if you are thinking of averaging up on dips, do it at 1290 - 1300.

(Anyone that wants to argue, or needs more reinforcement, just feed this post into your AI of choice, mention how earnings announced a buyback etc, and paste in the options chain data link here , and ask it to analyse if the stock is in a feedback loop of gamma squeezing)

I'm stupid at explaining things, so maybe that shit might explain it easier.

So, we finish above 1300 tomorrow at closing bell, we'll again see some nice action Monday and Tuesday coming. Just hope a lot of covering isn't done on AH or PM again... but most probably will.

EDIT This week have been reading so many posts and comments from people about "Are we done?". The commenters saying in replies... "what the fuck are you doing investing in this if you don't know shit"... are 100% correct, and proud that there are so many that are commenting on it. Strengthens the resolve that there are a lot here that weather the storms, see the chart in the daily and not the 1m.

Edit 666: If you got this far, good on you. Here is the real info:

Anyone invested in Ai or needs a good explanation about all the different cogs of the machine, Bloomberg uploaded this video two mornings ago Here Please give a comment below if you watched the video.. 20 mins sure.... ASML shot up like 200 bucks just from that video.

P.s: I'm guessing, a lot of people don't know they are in the biggest "Squeeze" that has ever happened. Nevermind, SNDK is still in "price discovery" still. Sure, it's a long played out squeeze, but that also means, less violent pullbacks. We still squeezing, and MMs that buried themselves a year ago, still can't get it under control.

Not saying it's lambo money, maybe a 2026 Miata. But, profit is profit.

Don't DM me unless it's tits.

Why is SNDK not just aquired by any of the MAG7 when they have such a shortage of memory/storage so that company can decide what stake from the output it can get. Because competition only about prices is not so clever than just buying a 25.1% or 50.1% stake of the entire stock company of Sandisk to have a meaningful word. It did not make the round so far, but I could imagine big companies are buying Sandisk shares just to have more power on who gets what and how much, or what do you think ? I mean $170 billion market cap for a MAG7 company is not too much than Micron for example with over $600 billion market cap already.

I mean in a race of stake competition to get some SNDK shares, the stock could surge fast to $7000 per share too, I think, that would be a $1 trillion valuation then.