Things are moving a lot today! So why are BVOL and iBVOL about the same as before?
Well volatility is up, _in % space_, by about 5%. OTOH, BTC is down about 5%. So people think it'll move 5% more, but from a 5% lower number--which roughly cancel out.
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hmm, but S&P moved down as well and the VIX went up... Not sure why BTC doing the same thing doesn't impact BVOL
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I guess that from a mthly/quarterly MOVE perspective, a drop from here on BTC means staying in a range, and IV on those contracts was pricing a break of 10k (could have lead to a parabolic move). IV on S&P rises on down moves bc it drops faster than it rises & the bottom is far.
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why not % based? pls re-design it. if change to % based, it more simple and easy to understand. ppl will not invest complicate rules behind..