(Bloomberg) -- Traders are boosting bets in the U.S. options market that this year’s rally in the Standard & Poor’s 500 Index won’t last. The fourth most-active options to sell the SPDR Trust Series 1 yesterday were December 2010 $55 puts, contracts with so-called strike prices more than 50 percent below the cost of the exchange-traded fund known as the SPY. S&P 500 options to protect against losses in 2010 are 33 percent more expensive than one-month contracts, among the highest premiums in the past five years, according to data compiled by Bloomberg.
http://www.bloomberg.com/apps/news?pid=newsarchive&sid=akKQKa.Hbk5M
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