What is the O/N implied volatility if one year implied volatility is 16%

Hmmm at this short time frame, using 252 (trading days) vs 365 days (calendar time as in Black Scholes etc.) can make a difference in calculating daily vol. Far as I can tell most gurus use 252 but it's debated.

But you're asking about overnight (17.5 hours).

So, overnight IV = Price * .16 * sqrt((17.5/24)/252) ... maybe Just taking a stab at it.

Wonder when they'll start offering hourly expiration?