SanDisk Surges on Takeover Speculation (SNDK)

Unconfirmed takeover chatter is moving shares or SanDisk (NASDAQ: SNDK) which are up 13c to 40.40 substantially off morning lows of 39.17. Volume is moderate for this time of day, with just over 3 million shares changing hands. SanDisk has resistance at 40.50.

Options traders focused on the on the November 41, 42 and 43 calls trikes. Traders are speculating SNDK will move through 41 before next Friday's Opex.

Day's Range: 39.17 - 40.46