After the Georgia Senate runoff results were called today (Jan. 6, 2021), I had expected the IV on many election-related tickers to fall. In other words, I thought a major IV crush was in the cards.
For example, SolarEdge Technologies (SEDG), which benefits from a Democratic Senate, should have seen its implied volatility fall drastically over the day while the stock went up.
Conversely, tech stocks like NFLX, which are harmed by a Democratic Senate, saw their volatility go UP.
I don't understand. Isn't Implied Volatility supposed to fall after the related binary event?