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The S&P 500 is pausing after a big run, but one investor expects a strong end to the year.

optionMONSTER's Heat Seeker monitoring program detected a large bullish call buy in the SPDR S&P 500 exchange-traded fund, which tracks the index. More than 60,000 December quarterly 152 calls were purchased for $0.99 against previous open interest of just 3,383 contracts. The options expire on Dec. 31, and are different from the standard monthlies that run out on Dec. 21.

SPY rose 0.37 percent to $141.19 in late morning trading and is hovering near its highest price since June 2008, shortly before the subprime meltdown since the market tumbling.

That call buyer is looking for that resistance level to give way and for the fund to end the year strong. Using calls gives him or her exposure at a modest cost, limiting their capital at risk in case they're wrong. See our Education Section for more on how options can be used to manage exposures.

It was the biggest trade to cross our systems so far today.

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