Overall volume in PEP options was roughly three times the average daily level for the stock as of 11:00 a.m.

FORBES: Money Pours Into PepsiCo Calls, Illumina Options Light Up Before Earnings

Japan's Nikkei Stock Average climbed 2% to the highest level seen since July 2008 as markets reacted to the Bank of Japan's new aggressive efforts to ease monetary policy.

WSJ: Stocks Notch Another Record

In Asia, Japan's Nikkei Stock Average surged 1.9% to its highest level since June 2008.

WSJ: U.S. Stocks Close Higher