Underestimated Risks in the U.S. Midterm Elections?
The market is seriously underestimating the risk that the results of the U.S. midterm elections could be challenged, triggering political and legal disputes. At the same time, hedging costs on Wall Street have fallen to their lowest level of the year, and the implied volatility of S&P 500 put options for November has dropped below 15%, creating a low-cost window to buy protection early.
The probability that the election results could be disputed, or even spark political turmoil, is being severely underestimated by the market, and current pricing in the options market does not fully reflect this tail risk.
As the market calmed in August, the implied volatility of S&P 500 put options has fallen significantly from its July highs. The calmer the market, the cheaper protection becomes; but once election risk is truly priced into assets, volatility could rise rapidly, and the cost of hedging at that point would increase markedly.
The core logic is built on the current polling situation. Polls generally show Trump’s approval rating slipping, Democrats likely to regain control of the House, and Republicans expected to keep their Senate majority.
What the market is truly overlooking is not the election result itself, but the political and legal disputes that could emerge if the result is challenged. If the final outcome is unfavorable to Trump, the market is severely underestimating the likelihood that Trump would react strongly and challenge results in certain districts.
In that scenario, Trump may launch legal challenges to every “contested” district, delaying the certification process and triggering a wave of media coverage around disputes such as “what happens next” and claims that the election was “stolen.”
This political uncertainty could ultimately spill over into financial markets and drive volatility sharply higher. For markets, the most dangerous outcome is not necessarily that one side wins, but that the election result remains unconfirmed for an extended period, creating persistent uncertainty.
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Fear and Greed Index hits 71 and people shout “top”? Don’t get fooled.
Lately, lots of people have been saying: “It’s getting greedy—so it’s going to drop.” The Fear and Greed Index has reached 71, so “run.” Let me say one thing: is 71 really “greed”?
Let me show you a few numbers: 2021 bull market peak: 95 October 2025, when BTC touched 126,000: 88 Now: 71 — just at the threshold of “greed.”
What is real greed? It’s the market aunt asking you what coin to buy. It’s the taxi driver talking about the candlestick chart. It’s your mom wanting to get in— that’s real greed.
What about now? There are still plenty of people shouting “a bull market rebound” and “pump it to unload.” The bears are still stubborn, and the bulls are still hesitating.
Price rises amid doubt and ends amid celebration. If so many people are still in doubt now, it clearly hasn’t ended yet.
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$BTC BTC opinion Update BTC is sitting around the $79.7K area, and this is a zone where I’d rather wait for confirmation than chase a move. The key area is around $74K–$75K. If BTC gets rejected here, the next important levels I’m watching are $57.8K and $52.2K. But if buyers reclaim the resistance and break the structure with strong confirmation, the bullish move could accelerate. For me, patience is the trade right now. Let the market show the direction first. #BTC #Bitcoin @BabylonLabs_io
Breaking news! Apple’s first foldable iPhone is here! iPhone Duo officially debuts
On September 10, Apple officially launched its first foldable-screen smartphone, the iPhone Duo. When unfolded, it features a 7.6-inch inner display—Apple’s largest screen to date. In the folded state, it sports a 5.4-inch outer display, with a visible area reaching 90% of the iPhone 18 Pro’s.
Both screens support ProMotion adaptive refresh rates and always-on, outdoor peak brightness can reach up to 3,000 nits.
The device uses a five-level titanium alloy middle frame, paired with a precision hinge made up of hundreds of components. The whole unit supports IP68 dust and water resistance. The side button integrates Touch ID fingerprint recognition. In terms of performance, the iPhone Duo is powered by the 2-nanometer A20 Pro chip, with a custom vapor-cooling heat dissipation system. Compared with the iPhone 17 Pro, sustained performance can improve by up to 35%, and it supports split-screen dual apps running simultaneously.
The imaging system includes a 48MP main camera plus a 48MP ultra-wide lens. With its foldable design, you can directly use the rear camera for selfies, and the outer screen supports live-view preview.
The new model uses a dual-battery setup. With only the outer display in use, it can play video continuously for up to 44 hours. Color options include Starlight White and Night Sky. Storage comes in four tiers: 256GB, 512GB, 1TB, and 2TB. In the U.S. market, the starting price is $1,999. Preorders begin on October 16, with official sales starting on October 23. The first batch will launch in more than 70 countries and regions, including China.
At the same event, the iPhone 18 Pro (China mainland model) starts at 9,999 yuan, the iPhone 18 Pro Max (China mainland model) starts at 10,999 yuan, and the foldable iPhone Duo (China mainland model) is priced from 15,999 yuan.