Sandisk stock perpetuals surge past SpaceX and SK Hynix to $1.73B
Something unusual is happening in the derivatives corner of the crypto market: a flash-memory chipmaker has become the hottest name in perpetual futures trading. Sandisk stock perpetuals have pulled ahead of every other equity-linked contract tracked across crypto exchanges, with open interest hitting $1.73 billion as of August 17, according to data shared by WuBlockchain and corroborated by crypto.news. That makes SNDK, not a meme coin or a Bitcoin proxy, the single largest stock perpetual in the entire crypto derivatives space.
Key takeaways
- Open interest in Sandisk (SNDK) stock perpetuals reached $1.73 billion as of August 17, the highest among all stock perpetuals tracked in crypto markets.
- At that snapshot, SNDK’s open interest was roughly 1.86 times SPCX’s $928 million and 3.51 times SKHX’s $493 million, though crypto.news later reported SKHX had climbed to about $1.35 billion, narrowing the gap.
- Twenty-four-hour SNDK perpetual trading volume reached $2.51 billion, up 248% and nearly eight times Micron’s comparable $320 million.
- Susquehanna (SIG) and IMC are SNDK options on Cboe Options and EDGX Options have designated primary market makers for each platform, respectively, while Citadel Securities leads market making for options on the SNDU ETF.
- Jane Street disclosed beneficial ownership of 7.4094 million Sandisk shares — a 5.0% stake — in a Schedule 13G filed August 5.
Record Open Interest Puts SNDK at the Top of Stock Perpetuals
SNDK’s $1.73 billion open interest figure isn’t just a big number — it’s the largest position size ever recorded for a single stock perpetual on crypto trading venues. That status alone signals a shift in how traders are treating semiconductor and memory-chip exposure: instead of buying shares through a brokerage, a growing pool of capital is betting on Sandisk’s price through stock perpetual open interest built entirely on crypto infrastructure.
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