FIGS, Inc. (FIGS) experienced a significant intraday surge, with its stock price soaring 12.59% during Thursday's trading session.
The sharp upward movement appears to be driven by heightened investor anticipation ahead of the company's upcoming earnings report. Options market activity shows pre-earnings volume at 2.4 times normal levels, with calls overwhelmingly outnumbering puts by a ratio of 23:1. This unusually high call volume indicates strong bullish sentiment among traders positioning for potential positive earnings results.
Implied volatility in FIGS options suggests the market is anticipating substantial price movement following the earnings announcement, with investors apparently betting on favorable outcomes that could drive the stock higher.