Sandisk’s SNDK Becomes Largest Stock Perpetual as Open Interest Hits $1.73 Billion

Sandisk-linked SNDK topped stock perpetuals by open interest on Aug. 17, with positions totaling $1.73 billion, according to WuBlockchain Data.

That put SNDK well ahead of SPCX and SKHX, which had open interest of $928 million and $493 million, respectively. SNDK’s trading volume was also higher than that of most comparable storage stocks, including MU.

Moreover, Jane Street disclosed a 5.0% beneficial ownership position in Sandisk in a Schedule 13G filed Aug. 5. The filing showed the firm held 7.4094 million shares as of July 30. Jane Street, an electronic market maker, was an early TradFi participant in digital asset trading. 

Interestingly, other market-making firms with digital asset operations have roles in Sandisk-related listed derivatives. Susquehanna serves as designated primary market maker for SNDK options on Cboe Options, while Cboe records assign the corresponding EDGX Options role to IMC.

Citadel Securities has a separate role involving SNDU, the ticker for the T-REX 2X Long SNDK Daily Target ETF. MIAX documentation named Citadel as the primary lead market maker when options on the fund were introduced.

Source: Wu Blockchain