U.S. stock futures are trading higher this morning. Wall Street’s trade fears have eased somewhat in the wake of the just announced U.S./Mexico agreement. The Donald Trump administration said that talks with Canada are up next. Still, trade worries linger as U.S./China talks have made no real headway.

Bulls continue to outweigh bears, however, as futures on the Dow Jones Industrial Average are up 0.14% this morning. Additionally, S&P 500 futures have added 0.13% and Nasdaq-100 futures have rallied 0.26%.

In the options pits, calls dominated the landscape yesterday as volume took off. Overall, about 21.6 million calls and 13.7 million puts changed hands yesterday. On the CBOE, the single-session equity put/call volume ratio fell to a seven week low of 0.51. The ramp up in call activity also pushed the 10-day moving average to a five week low of 0.61.

Tech and finance were the hot sectors for options traders on Monday. Bank of America (NYSE:BAC) drew a spike in call volume on news the financial giant filed a cryptocurrency patent.

Elsewhere, Nvidia (NASDAQ:NVDA) was pulled higher by momentum in rival Advanced Micro Devices (NASDAQ:AMD). Finally, Twitter (NYSE:TWTR) calls were popular on news CEO Jack Dorsey would testify before the U.S. Senate.

Let’s take a closer look:

Bank of America (BAC)

Cryptocurrencies rallied and Bank of America stock gained ground on Monday. BAC stock rode the crypto wave after news broke that the bank applied for a blockchain patent for cryptocurrency storage. The patent describes an application that uses encryption linked to blockchain data blocks as a form of data security. So far, Bank of America has filed 50 patents related to blockchain and cryptocurrencies.

Options traders ran with the news, piling into BAC stock call options. Volume on Monday rose to over 419,000 contracts, or about 1.5 times BAC’s daily average. Calls claimed a whopping 79% of the day’s take.

These typically bullish options have gained considerable traction on BAC stock in the front-month September series. Specifically, the put/call open interest ratio for September has fallen to a reading of 0.57 in the past couple of weeks. In short, calls nearly double puts in September, indicating that options traders are expecting BAC stock to rally though the month.

Nvidia (NVDA)

Rival AMD launched its new Radeon Pro V340 graphics card for virtual graphics processing unit workloads in Las Vegas this weekend. The new GPU takes aim at Nvidia’s market-leading processors and could put pressure on Nvidia in the data processing market. Still, the bullish news lifted the sector as a whole, adding to NVDA stock’s momentum.

For its part, NVDA stock attracted more than 215,000 contracts in the options pits yesterday. Calls gobbled up 65% of the day’s take. That said, there is still lingering bearish sentiment on NVDA stock among options traders.

Specifically, the September put/call OI ratio rests at 0.95, with puts on the verge of parity with calls for the month. However, as NVDA stock gains momentum, we could see this negativity evaporate and more bulls come out in support of the shares.

Twitter (TWTR)

A pair of reports have helped TWTR stock rally in the past couple of days. First, Activision Blizzard (NASDAQ:ATVI) announced a multi-annual streaming deal with Twitter for Overwatch League’s highlights and live content.

Second, CEO Jack Dorsey will testify before the U.S. Senate on Sept. 5.  Senate Republicans are expected to ask about social media companies removing content from conservatives, a topic that gained momentum following a Trump tweet, ironically.

TWTR stock jumped 4.7% yesterday, and options traders responded with a wave of call activity. Volume on TWTR rose to 172,000 contracts, with calls claiming 72% of the day’s take.

Optimism remains high on TWTR stock among options traders, especially in September. Currently, the front-month put/call OI ratio comes in at 0.54, with calls nearly doubling puts for the series. That said, TWTR stock is still down nearly 30% from its 2018 highs.

As of this writing, Joseph Hargett held no position in any of the aforementioned equities.