U.S. stock futures are trading higher this morning after President Donald Trump announced “substantial progress” in the long-running trade talks with China. As a result, the U.S. will delay the tariffs that were initially slated for early March.

Against this backdrop, futures on the Dow Jones Industrial Average are up 0.7% and S&P 500 futures are higher by 0.57%. Nasdaq-100 futures have added 0.82%.

In the options pits, call volume rebounded alongside the market on Friday, helping to drive overall volume back to average levels. Specifically, about 19.5 million calls and 15.5 million puts changed hands on the session.

The call comeback made a small impact at the CBOE, where the single-session equity put/call volume fell back to 0.63. Meanwhile, the 10-day moving average fell to 0.59.

Here were three stocks capturing traders’ attention on Friday. Kraft Heinz Co (NASDAQ:KHC) plunged after missing earnings estimates, slashing their dividend and reporting billions in write-downs. Intel (NASDAQ:INTC) benefited from an upgrade from investment bank Morgan Stanley (NYSE:MS). Finally, Snap (NYSE:SNAP) scored a breakout over its 200-day moving average.

Let’s take a closer look:

Kraft Heinz Co (KHC)

The packaged food and ketchup businesses aren’t what they used to be. An ongoing shift in consumer preferences finally came to a head last quarter causing the company to deliver a catastrophic earnings report. In the fourth quarter, KHC earnings non-GAAP earnings of 84 cents per share on revenue of $6.89 billion. Though both numbers missed analyst estimates, it gets much, much worse. The company disclosed the Securities and Exchange Commission is investigating its accounting practices. And the continued deterioration of sales in top brands like Kraft and Oscar Meyer finally prompted the company to write-down $15.4 billion in goodwill and intangibles.

One more nail in the coffin was the decision to slash its quarterly dividend from 62.5 cents to 40 cents.

KHC shares cratered 27.5% on the session amid massive volume.

On the options trading front, total activity screamed to 1,856% of the average daily volume, with 268,821 total contracts traded. Calls grabbed most of the attention, contributing 61% do the day’s sum.

With uncertainty now through the roof, implied volatility ramped to 44%, which places it at the 100th percentile of its one-year range. Premiums are now trading at their most expensive levels of the year.

Intel (INTC)

Intel received some love from Morgan Stanley on Friday. The bank upgraded INTC shares from equal weight to overweight and lifted its price target from $55 to $64. It marks the first time Morgan Stanley has been bullish on the semiconductor giant in seven years.

INTC stock gained 2.1% on the session and is up another 1% in premarket trading this morning. Earlier this month, INTC departed its six-month range with a breakout above $50. So, Friday’s upgrade is adding fuel to the fire that was already heating up.

On the options trading front, the upgrade spurred traders to bid for call options. Total activity grew to 174% of the average daily volume, with 230,580 total contracts traded. 66% of the tally came from calls.

Implied volatility dipped on the day to 23%. That places it at the 14th percentile of its one-year range which brings premiums to one of the cheapest levels on the year.

Snap (SNAP)

The budding recovery in Snap scored another victory on Friday. The struggling social media stock vaulted above the 200-day moving average for the first time since last April. High volume accompanied the surge confirming buyers’ dominance and the likelihood that the resistance breach will stick.

With the optimism surrounding stocks this morning, SNAP shares are up another 2.2% premarket.

The technicals are continuing to improve for the stock. It now sits north of a rising 20-day and 50-day moving average. The excitement surrounding its recent earnings release could continue to propel the stock higher over the entire quarter.

Friday’s breakout lit a fire under call demand. By days end the total activity climbed to 134% of the average daily volume, with 156,376 total contracts traded. Calls drove the bulk of the increase, accounting for 76% of the take.

The increased demand drove implied volatility higher on the day to 55%, placing it at the 36th percentile of its one-year range.

As of this writing, Tyler Craig didn’t hold a position in any of the aforementioned securities. Check out his recently released Bear Market Survival Guide to learn how to defend your portfolio against market volatility.