U.S. stock futures are mixed this morning, as Wall Street struggles for new highs heading into what could be a volatile week. House Republicans unveiled their tax plan this weekend to mixed reviews, and President Trump embarked on a tour of Asia in an effort to ostensibly reach a diplomatic solution on North Korea. However, many investors will be paying close attention to Trump’s comments on North Korea, which have been quite inflammatory in the past.

Heading into the open, Dow Jones Industrial Average futures are up 0.12%, S&P 500 futures have risen 0.02% and Nasdaq-100 futures are up 0.07%.

On the options front, volume remained brisk on Friday, with about 19.8 million calls and 15.7 million puts changing hands on the session. On the CBOE, the single-session equity put/call volume ratio fell to 0.60, while the 10-day moving average held at 0.64.

Taking a closer look at Friday’s options activity, Apple Inc. (NASDAQ:AAPL) call options gained considerable traction after the company saw non-iPhone sales rise 24%. Meanwhile, Qualcomm, Inc. (NASDAQ:QCOM) options speculation surged as rumors hit that Broadcom Ltd (NASDAQ:AVGO) was planning a $100 billion-plus bid for the chipmaker. Finally, Tesla Inc (NASDAQ:TSLA) had its “production hell” quip thrown back in its face after poor third-quarter earnings.

Apple Inc. (AAPL)

Apple silenced quite a few bears last week when it beat third-quarter earnings expectations. While iPhone sales still remain below historical levels, the company banked on a 24% jump in non-iPhone sales, which came in at $23.1 billion on the quarter. Apple also set iPhone deliveries within expectations following the launch of the iPhone X last week.

That said, some analysts were quick to point out that Wall Street’s expectations had fallen since the September iPhone 8 event, and that these lowered expectations were the only reason Apple was able to turn in an earnings beat.

Options traders were happy with the results, however, as calls made up an above average 67% of Friday’s take, which came in at more than 1.4 million contracts. However, the November put/call open interest ratio of 0.80 indicates that there are still more than a few bears betting that AAPL stock is due for a pullback. In fact, put OI has ballooned to more than 15,500 contracts at the $165 strike, with another 40,000 at the Nov $160 strike.

Qualcomm Inc (QCOM)

Rumors that Broadcom was readying an unsolicited $100 billion-plus bid for Qualcomm swirled on Friday, driving heavy options speculation on QCOM stock. Volume soared to 339,000 contracts, nearly seven-times QCOM’s daily average. Calls accounted for a whopping 79% of the day’s take, as traders looked to capitalize on a potential buyout.

That bid was confirmed this morning, when Broadcom officially made an offer for QCOM stock, valued at $130 billion, including debt. Qualcomm is poised to fight the offer, which it claims undervalues the company. Both stocks were halted in premarket trading this morning.

Returning to QCOM options activity, quite a bit of Friday’s call activity was centered on the front-month November series. In fact, the November put/call OI ratio plummeted to a reading of 0.55, with calls nearly doubling puts among near-term options. However, that was before Qualcomm said it would fight the unsolicited bid. Whether that changes speculation in the options pits or not — QCOM is already up another 4% premarket — remains to be seen.

Tesla Inc (TSLA)

“Production hell” was a phrase coined by Tesla CEO Elon Musk in reference to the company’s gearing up for Model 3 production. And hell it has been. In the company’s third-quarter report, Tesla admitted that it had only produced 260 Model 3s in just three months — well below the promised 1,500 vehicles. The report brought forth a wave of cynicism and vitriol from the financial media, especially the alternative energy press.

TSLA options traders, who were already leaning toward TSLA puts ramped up their bearish efforts last week. Friday’s volume topped 256,000 contracts, with puts snapping up 53% of the day’s take.

What’s more, the November put/call OI ratio ballooned to a reading of 1.08 in the past week, as puts were added at a considerably faster pace than calls among front-month options.

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