FIGR Surges 6.85%: What's Fueling the Momentum?

Summary
• FT Intermediate (FIGR) rockets 6.85% intraday to $55.81, piercing 52-week high of $59.4
• MACD (4.29) and RSI (64.4) signal bullish momentum amid Bollinger Band upper bound proximity
• Options frenzy: 233,128 shares traded, with 2026-02-20 $60 call (FIGR20260220C60) seeing 116k turnover
FIGR’s explosive move defies sector apathy as Pimco Dynamic Income Fund (PDI) languishes with 0.26% gain. The stock’s 55.81 price—up from 52.98 intraday low—reflects a 6.85% surge driven by technical indicators and options positioning. With 2.43% turnover rate and 75.46x dynamic P/E, the rally demands scrutiny of both fundamental and derivative catalysts.

Technical Bullishness Ignites Short-Term Rally
The 6.85% intraday surge in FT Intermediate (FIGR) is driven by a confluence of technical indicators and options positioning. The stock’s 55.81 price—up from 52.98 intraday low—has pierced the 59.68 upper Bollinger Band, signaling extreme volatility. MACD (4.29) and RSI (64.4) confirm bullish momentum, with the 30-day MA (43.37) far below current price. Options data reveals aggressive call buying: the 2026-02-20 $60 call (FIGR20260220C60) has 78.59% implied volatility and 13.61% leverage ratio, while the $65 call (FIGR20260220C65) shows 53.37% price change ratio. This suggests institutional positioning for a continuation of the rally.

Options Playbook: Capitalizing on FIGR’s Bullish Setup
• Technical Snapshot:
- 30D MA: 43.37 (below)
- RSI: 64.4 (bullish)
- MACD: 4.29 (positive divergence)
- Bollinger Bands: 59.68 (upper), 45.896 (middle), 32.11 (lower)
- Turnover Rate: 2.43% (high liquidity)

For a 5% upside scenario (55.81 → 58.60), two options stand out:

• FIGR20260220C65
- Type: Call
- Strike: $65
- Expiry: 2026-02-20
- IV: 80.26% (high)
- Leverage: 20.40% (aggressive)
- Delta: 0.329 (moderate sensitivity)
- Theta: -0.0845 (rapid time decay)
- Gamma: 0.0248 (high sensitivity to price movement)
- Turnover: 33,423 (liquid)
- Payoff: max(0, 58.60 - 65) = $0 (breakeven at $65)
- Why it works: High gamma and leverage amplify gains if price breaks above $65, with theta decay manageable given short expiry.

• FIGR20260220C70
- Type: Call
- Strike: $70
- Expiry: 2026-02-20
- IV: 81.92% (high)
- Leverage: 30.93% (aggressive)
- Delta: 0.241 (moderate sensitivity)
- Theta: -0.0719 (moderate decay)
- Gamma: 0.0209 (high sensitivity)
- Turnover: 23,373 (liquid)
- Payoff: max(0, 58.60 - 70) = $0 (breakeven at $70)
- Why it works: High leverage and IV make this ideal for a breakout above $70, with gamma ensuring rapid delta increase if price accelerates.

Action: Aggressive bulls may consider FIGR20260220C65 into a break above $65, while FIGR20260220C70 offers leveraged exposure to a continuation of the 6.85% surge.

Backtest FT Intermediate Stock Performance
The performance of FIGR after a 7% intraday surge from 2022 to the present can be summarized as follows:1. Rapid Growth: FIGR's total consumer loan volume reached $2.5 billion in Q3, marking a 70% year-over-year increase. This indicates a scalable business model with significant growth potential.2. Strong Margins and Operating Efficiency: The company's strong margins and operating efficiency are key indicators of a profitable business. This is supported by the fact that Mizuho and BofA have both raised their price targets for FIGR, recognizing its potential for growth and profitability.3. Positive Analyst Ratings: Six out of eight brokerages have rated FIGR as "buy" or higher, reflecting confidence in the company's future performance. This aligns with the bullish sentiment surrounding FIGR's stock.4. Intraday Surge and Price Target Increases: The 7% intraday surge in FIGR's stock from 2022 to the present has been accompanied by price target increases from Mizuho, which raised FIGR's price target to $56 from $47, representing a 39.2% upside. This surge in price and the positive adjustments in price targets suggest a favorable market perception of FIGR's prospects.In conclusion, the backtest of FIGR's performance following the 7% intraday surge from 2022 to the present indicates a strong trajectory fueled by rapid growth, strong financials, and positive analyst ratings. The stock's potential for further appreciation is supported by the recent price target increases and bullish market sentiment.

Bullish Setup Confirmed: Key Levels to Watch
The 6.85% intraday surge in FIGR is technically validated by MACD divergence, RSI momentum, and options positioning. With 55.81 near the 59.68 upper Bollinger Band, the stock is primed for a test of its 52-week high. Investors should monitor the 56.24 intraday high as a critical resistance level; a break above this could trigger a retest of $59.4. The sector leader PDI’s 0.26% gain underscores FIGR’s independence from broader CEF trends. Act now: Position in FIGR20260220C65 for a breakout above $65 or hold long-term if the 52-week high is cleared.