Buying puts before election?

I wonder what you guys think about purchasing november 6 puts on a long only personal portfolio today before the election? It looks like it would cost about 2.5 percent on average, do you think this is worth it? Also, it would be great if anybody in the hedge fund or AM industry could chime in, do you guys use puts to hedge, and if not, how do you hedge besides having a short positions? Thanks

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IV is ridiculously high. Especially expensive to hedge with puts. If you look at index options they already are pricing in a few percentage points of movement around election. Just reduce overall exposure

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