Dear all, I would really appreciate if those you can could provide me with answers to the two questions I have. S&P 500 stocks are rather well correlated to the performance of the index itself (S&P500). My main question is: how about IV? On average, is the IV of S&P500 stocks options rather well correlated to the IV of S&P500 index option? Also, on average, would the correlation of the IV of a S&P500 stock option to the IV of an option of the S&P500 index be LOWER OR HIGHER than the average correlation of the performance of a S&P500 stock to the performance of the S&P500 index?