Peloton Interactive Inc. ($PTON) has experienced notable speculative trading activity over the past several days, marked by a surge in call option buying and increased stock price. The stock is trading higher than it was before the company's recent earnings report. Market participants have speculated that Peloton could be a potential takeover target for Apple Inc., a theory that has circulated since last year. Despite the stock rising approximately 12% recently without any new public announcements, investors quickly bought shares during a morning dip, indicating strong demand. The put-to-call option ratio reflects heavy call buying, with approximately 79,000 call options traded compared to 5,752 put options, underscoring bullish sentiment among traders.