(Bloomberg) -- Two-month euro puts have become more expensive than calls for the first time since August as investors begin to hedge against risks surrounding Italian parliamentary elections on March 4. Though the anti-establishment Five Star Movement was ahead in polling last month, there's no clear leader, opening up the possibility of a grand coalition or hung parliament. Since late December, euro puts expiring in March have outnumbered calls by nearly two to one, a contrast to broader market activity which shows euro calls in relative demand.
To contact the reporter on this story: Robert Fullem in New York at rfullem5@bloomberg.net.
To contact the editors responsible for this story: Benjamin Purvis at bpurvis@bloomberg.net, Mark Tannenbaum, Sophie Caronello
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