CNBC analyst Mike Khouw noted that the 30-year U.S. government bond yield has clearly surpassed its 2023 high in recent weeks, rising another 7.6 basis points on September 11. As a result, options traders are actively betting on further declines in the U.S. long-term Treasury ETF (TLT). On September 10, TLT options trading volume nearly doubled, with put option volume being 3.3 times the average. There was a block trade (approximately $1.8 million) betting that TLT would fall below $80 before its October expiration. TLT closed at $80.78 on September 11, after touching a 52-week low of $80.665 during the session.