Shares of Tiger Brokers (TIGR) surged 9.29% on Tuesday, driven by bullish options trading activity that signaled rising optimism about the online brokerage firm's prospects.
The stock rally came as options traders flooded the market with Tiger Brokers call options, which give the buyer the right to purchase the underlying shares at a predetermined price in the future. According to market data, nearly 17,100 call options on Tiger Brokers traded hands on Tuesday - well above the stock's average daily options volume.
The elevated call volume and increasing implied volatility point to growing speculative bullish bets that Tiger Brokers' stock could continue its upward march in the coming weeks and months. While the reasons behind the heightened optimism remain unclear, the robust options activity suggests traders are positioning for further gains after the online broker's shares have already advanced over 30% so far in 2023.
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