Market volatility is increasing as the US election approaches, with the VIX index closing above 20 every day this week, the first time this has happened this year. Analysts from Goldman Sachs (GS) and Evercore have noted that longer-dated tenors are surging, and bullish bets on the VIX are rising. The COT report also indicates a rise in bullish bets on the VIX. Historically, the VIX often increases leading up to US elections and then normalizes as uncertainty fades.