IV and long call options

Annualized vol of the underlying shares, not the options.

 

options of diff strikes behave completely different ie DITM call is like holdin a deltaone whereas otm calls need spectacular upside moves to beat theta decay.

All your questions will be answered once you forget the actual options and just look at the Greeks.

 

Perhaps give yourself a little more time.

 

You can learn how the variables change an option's value by simply using the C.B.O.E. Option Calculator below. Enter your stock or ETF symbol in the yellow vertical band and click go.
Then change the variables on the lower left side for stock price, strike price, expiration date,
and volatility. After each change click the blue Calculate button in the middle and you can see how each change effects the call or put price value.


http://www.cboe.com/framed/IVolfram...ADING_TOOLS&title=CBOE - IVolatility Services

 

Thanks! Much appreciated