Pagaya Technologies Surges 8.67% on $240M Volume Ranking 409th Amid AI-Driven Tech Rally

Pagaya Technologies (PGY) surged 8.67% on August 28, 2025, with a trading volume of $240 million—135.08% higher than the previous day—ranking 409th in market activity. The rally aligns with heightened tech sector optimism driven by AI advancements and product launches, including Apple’s anticipated iPhone 17 event and Anthropic’s AI security alerts. Despite breaking above its 30-day moving average of $31.61, the stock remains below its 52-week high of $41.48.

Options market activity intensified, with 304,488 shares traded—7.06% of its float—indicating aggressive positioning. Technical indicators show an RSI of 60.9 (neutral to overbought) and a MACD histogram near zero, suggesting short-term momentum may be stabilizing. The stock’s price proximity to the upper Bollinger Band ($36.01) and a dynamic P/E ratio of 63.26x highlight its speculative nature compared to broader tech benchmarks.

High-leverage call options such as PGY20250919C38 and PGY20250919C39 attracted attention, offering leverage of 13.3% and 16.0% respectively. These contracts, with moderate deltas and strong gamma sensitivity, reflect investor anticipation of volatility ahead of Apple’s September 9 event. A 5% price increase to $40 would yield payoffs of $2.05 and $1.05 for these options, underscoring their appeal for short-term directional bets.

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