Core Insights - Jefferies Financial Group Inc's shares increased by 6.8% to $52.12 following an upgrade to "outperform" from "perform" by Oppenheimer, despite a previous double-digit drop after the investor day presentation [1] - The stock has faced challenges this year, down 33.7% in 2025, but found support around the $48 level, preventing further losses [2] - The popularity of put options has surged, with a 10-day put/call volume ratio of 1.26, indicating a potential opportunity for bullish investors [3] Trading Activity - Following the upgrade, options trading has significantly increased, with 10,000 calls and 4,623 puts traded, which is three times the average intraday pace [4] - The most actively traded option is the January 16, 2026, 75-strike call, followed by the October 50 put [4]