One trader is betting that potential upside is limited for SanDisk even as the stock rallies today.
optionMONSTER’s tracking systems show that a trader sold 4,554 December 45 calls for $1.32. The volume is well above open interest of 1,722 contracts at the start of the session, clearly indicating new activity.
SNDK is up 4.98 percent to $43.86, a day after its lowest close since the start of September. Shares of the memory-chip maker have been trending lower since trading above $46 later that month.
— Option Monster