Bloomberg: In October, Bitcoin bearish and bullish options are evenly distributed, investors are "prepared for both" for the US election

Bitcoin speculators are preparing for potential market volatility following the U.S. Election Day. Since the global market plummeted in August, Bitcoin's 30-day implied volatility index has reached its highest level. The index is compiled by CF Benchmarks Ltd., derived from CME Bitcoin option pricing.
Caroline Mauron, co-founder of crypto derivative trading liquidity provider Orbit Markets, said that the options market predicts an expected fluctuation of about 8% on the day after voting, while normal fluctuations are usually around 2%.

She added: "After November 7th, there is no significant volatility premium in the market, which indicates that the market expects election results to come out quickly. Considering how competitive public opinion polls show it to be, this might be an optimistic prediction."

According to a report by crypto derivatives trading platform Derive.xyz throughout October, bearish and bullish options for Bitcoin were evenly distributed indicating speculators were preparing for both upward and downward trends before the US election.

Furthermore according to data from Deribit within weeks after elections based on peak open positions of put and call options; bitcoin's trading range could possibly be between $60k-$80k USD.(Bloomberg)