mike kuo with the name options traders are buzzing about. >> that tha name is bristol-myers.ing we saw three times the daily average call volume in the name today. where that was concentrated in the october 62 1/2 calls. we know it was opening because over 12,000 of these traded with only 1800 open interest. and if we take a look at implied volatility, which is basically the price of options, we saw it's rising throughout the day. looks like a lot of the activity toward the end of the day were likely buyers who were betting bristol-myers is going to be up 7-plus percent by october 16th, which is when these options expire. >> i'm sure pete najarian here, sitting to my right, saw -- >> mike kuo, you're the best, brother. >> easy. >> love this name. everybody says, well, it's bristol-myers and all the rest of that stuff -- this company has been oversold i think from when it had made that big run and this call buying i think will turn out to show a lot about where it company's going by late october. >> our thanks to mike kuo out in austin. for more expectation ppgs check out the

mike kuo's in austin with the options action. what do you see? >> this is interesting.on't think the fed has been weighing the vix very heavily in their calculus on whether to raise rates. but you go back to 1990 and take a look at the three rate hike cycles they've engaged in we've never seen a rate hike cycle commence with 2109. that took place in june of 1999 and actually the only time we've seen a rate hike of any type during the discount rate on may 19th of 2000 or the fed funds rate of the 16th of that same month was with the vix at 25 or lower. so with the vix this high which usually accompanies sharply declining stock prices and increasing investor anxiety, one wonders whether that's sort of enkapslighting a lot of the other inputs they would use and that would suggest we're not going to get a hike this september. >> i think a lot of the fed officials specifically stanley fischer had left the door open saying they're going to monitor market events and volatility as one input -- >> it's one input. but remember, markets reflect everything else and that's what mike