Current IV levels at 10.7 but jumps to 15.2 at 11/8 expiration. I understand its election related but looks like it's totally dismissing Reporting season, and some 70% of SPY stocks will be reporting before elections.
With the markets in extreme hype rally mode, earnings better justify this entire continous parabolic move up every day as record setting closings continue.. .
We estimate a 1.9% move at expiration to equate for the jump. https://gyazo.com/933b4dfb70b0786b2ed5b564f45295c1