Hey all, I probably should not be trading options since I am still so amateur with the pricing. Anyway I have the XLF December 14 Puts and I am wondering how I calculate what the option price would be in a stock market crash scenario? I don't know how to figure out how much premium is added to the price of the option if volatility skyrockets. Volatility adds to the price of the option right ? Lets say I am correct that the stock market crashes going into end of this week where we see XLF hit a price of 10. So then I would be 4 dollars in the money and there would be premium added because there is still time left till expiration in December... but then how much would I add to the price for the fact that the price of XLF gets there in about 4 days in panic crash fashion? I wonder how much the price of the options increased during the epicenter of the 1987 crash on October 19th.