U.S. stock futures are trading higher again this morning, as the North Korea/hurricane relief rally continues. Technology will be in focus today, as traders count down to the release of Apple Inc.’s (NASDAQ:AAPL) newest iPhone.

Options traders have been call-heavy on AAPL stock leading up to the event. The iPhone 8, or “Anniversary Edition,” is expected to arrive with a price tag near $1,000. Apple is also expected to reveal two new iPhone products, a new Apple Watch and an upgraded version of Apple TV.

Returning to broad-market action, futures on the Dow Jones Industrial Average were last seen higher by 0.24%, S&P 500 futures were 0.14% and Nasdaq-100 futures had added 0.2%.

In broader options action, volume was quite brisk on Monday, with about 16.6 million calls and 13.1 million puts changing hands. Meanwhile, the CBOE single-session equity put/call volume ratio retreated to 0.65, pushing the 10-day moving average back down to 0.60.

In addition to Apple driving yesterday’s options activity, Teva Pharmaceutical Industries Ltd (ADR)’s (NYSE:TEVA) volume surged after the company appointed a new CEO. Elsewhere, Snap Inc (NYSE:SNAP) calls climbed in the face of negativity from Deutsche Bank, and Tesla Inc (NASDAQ:TSLA) traders cheered layoffs at the company’s SolarCity unit.

Teva Pharmaceutical Industries Ltd (ADR) (TEVA)

It has been seven months since Teva’s last CEO resigned amid a bribery scandal that rocked the company and TEVA stock. Yesterday, Teva announced it was appointing Kare Schultz, a former Novo Nordisk A/S (ADR) (NYSE:NVO) executive, as the new company head. Furthermore, after the close yesterday, Teva said it was selling its Paragard implantable contraceptive to CooperSurgical for $1.1 billion in cash.

TEVA stock soared nearly 20% following the CEO change, and the shares are up almost 9% pre-market as traders react to the contraceptive unit sale.

Options traders chased yesterday’s rally, and will likely chase today’s as well. Volume surged to 189,000 contracts on Monday, more than tripling TEVA’s average daily options activity. Typically bullish call options made up 70% of the day’s take.

Looking out to October, calls were already in fashion for TEVA stock. The October put/call open interest ratio currently rests at 0.55, with calls nearly doubling puts for the series. Peak call OI currently rests at the October $20 strike, which has a chance of trading in the money today for the first time since Aug 4.

Snap Inc (SNAP)

For the past month, Snap has been one of Wall Street’s most unlikely comeback stories. After botching earnings on Aug. 11, SNAP stock has rebounded nearly 30%, and has momentum to extend those gains. But analysts at Deutsche Bank think this is as good as it will get for SNAP.

“While Snap has improved its ad platform (particularly around measurement), negative headlines and fierce competition have reduced the interest level in Snap advertising,” the brokerage firm said in a research note. Deutsche Bank downgraded SNAP to “hold” from “buy” and cut its price target to $17 from $20.

Options traders aren’t buying it — or rather they are buying SNAP. Volume topped 187,000 contracts on Monday, outstripping SNAP’s daily average and loading up on bullish call options, which made up 77% of yesterday’s take. That said, pessimism still blankets SNAP in October, where the put/call OI ratio comes in at 1.36.

SNAP appears poised to bounce back today, which would be a bullish sign — especially after yesterday’s downgrade.

Tesla Inc (TSLA)

It’s time for restructuring at Tesla’s SolarCity unit. Yesterday, the company announced plans to lay off roughly 200 employees at its Roseville, California, offices. The notice arrived as two “WARN Act” letters to the California Employment Development Department. According to Tesla, most of those employees will be moved to other offices, but 63 of those positions will not be returning.

TSLA options traders appeared cautiously optimistic following the news. Volume rose to 167,000 contracts, with calls eking out 54% of the day’s take. Optimism is also fleeting in the October series for TSLA, where the put/call OI ratio arrives at 1.01.

This reading is down sharply from its near-term peak north of 1.50 earlier in August, and rising optimistic sentiment could have a bullish effect on the stock.

As of this writing, Joseph Hargett did not hold a position in any of the aforementioned securities.