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SanDisk Corp shares rose in morning trading, last seen up 0.8% at $858.39, after Mizuho reiterated an “outperform” rating on the storage and memory company. The firm also raised its price target on SanDisk to $1,000 from $710.
Mizuho’s note followed a broader set of views on the sector, including a bull note to SanDisk’s former parent company, Western Digital (WDC). For SanDisk, the updated target implies a higher valuation than the prior $710 level.
SanDisk shares opened at a fresh record high of $873.95. The move put the stock on track for a third consecutive daily gain and added to its 2,227% year-over-year increase.
The stock’s 50-day moving average has also been acting as support since September, according to the article, having held through two pullbacks in March.
Despite the strong price action, options traders appear heavily bearish. The article cites SanDisk’s 10-day put/call volume ratio across the ISE, CBOE, and NASDAQ OMX PHLX (PHLX), which is higher than 88% of annual readings.
It also points to a Schaeffer’s put/call open interest ratio (SOIR) of 1.09, which the article says ranks in the 95th annual percentile.
SanDisk’s Schaeffer’s Volatility Scorecard (SVS) is reported at 89 out of 100. The article interprets this as evidence that shares have consistently realized higher volatility than what options have priced in over the past 12 months.

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