On August 5, Tradr 2X Long SNDK Daily ETF declined 8.3% in regular trading, trading at $11.665/share, with turnover of $564 million. The ETF is a 2x leveraged long product tracking SanDisk, which is scheduled to report fourth fiscal quarter earnings after market close.

On the news front, SanDisk's options market previously saw a $2.16 million out-of-the-money put purchase on the August 14 expiry at a $745 strike, signaling distinctly bearish sentiment among large-block traders. Market consensus expects SanDisk revenue of approximately $84 billion, but after a 47% plunge in July, investors remain cautious on whether the report can validate the sustainability of AI-driven storage demand. The options market is pricing in a 14% post-earnings move for SanDisk.

The intensified bull-bear positioning ahead of the earnings release, combined with the 2x leverage mechanism, further amplified intraday volatility for this ETF product.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)