According to WuBlockchain Data, as of August 17, open interest in Sandisk (SNDK) stock perpetuals reached $1.73 billion, the highest among all stock perpetuals. The figure was approximately 1.86 times SPCX’s $928 million and 3.51 times SKHX’s $493 million. SNDK is now the crypto market’s largest stock perpetual by open interest, while its trading volume also significantly exceeds that of most storage-sector peers, including MU.

Notably, several firms providing liquidity for SNDK and related derivatives are also deeply involved in digital asset markets. Cboe directories list Susquehanna (SIG) and IMC as the designated primary market makers for SNDK options on Cboe Options and EDGX Options, respectively. MIAX documents show that Citadel Securities was appointed primary lead market maker when options on the T-REX 2X Long SNDK Daily Target ETF (SNDU) were launched.

In addition, a Schedule 13G filed by Jane Street on August 5 shows that, as of July 30, the firm beneficially owned 7.4094 million Sandisk shares, representing a 5.0% stake. Jane Street is one of the world’s largest electronic market makers and was also an early mover among traditional financial institutions in digital asset trading.