Puts on the iShares Long-Term Bond Fund (TLT) are active, as bonds get sacked during a shortened trading session Wednesday. The benchmark ten-year fell an impressive 1 22/32nd, as a strong jobs report, light volume, and long-awaited profit taking conspired to send prices lower and yields higher. TLT, which holds a basket of long-term Treasurys, is down $2.67 to $119.23 and 9,100 puts traded, compared to 2,400 TLT calls. Jan 120 and 115 puts saw the most action.