Investors are increasingly preparing for the risk of a contested U.S. presidential election come the fall, worried that an ugly political situation will create volatility across markets.
FILE PHOTO: U.S. President Donald Trump speaks at a roundtable on donating plasma during a visit to the American Red Cross National Headquarters in Washington, U.S., July 30, 2020. REUTERS/Carlos Barria
Trump escalated fears of a contested election in a tweet Thursday morning and suggested the election be delayed until people can “properly, securely and safely vote.” Trump has no direct authority to change the date of federal elections - Congress has that power - so the concern for investors is of a contested election rather than the actual election being postponed.
“We don’t typically see call spreads out that far, and the most likely thing to target,” said Christopher Murphy, co-head of derivatives strategy at Susquehanna Financial Group.
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