Is psql command line interface broken on HEAD?

When I try run psql with a option on HEAD I get following message:

-bash-3.2$ /var/tmp/pg84_upg/bin/psql template1 -t
psql: FATAL:  role "-t" does not exist

when I change a order to

var/tmp/pg84_upg/bin/psql -t template1

then everything is OK.

Does it intention or it is a bug? Current behavior correspond with psql help but 
It works fine on 8.1, 8.2 (8.3 not tested).
    Thanks Zdenek