Pricing in a move in options?

You keep hearing traders say x% of a move is priced in in xyz option. How do you get this info by looking at the greeks? Thanks!

 

I prefer....

 

....you look at the put and the call price at the ATM strikes....

 

There's several ways and depends on what you're asking for...

For the one day move:

Look at the ATM straddle value.

For movement between two different expirations:

Calculate the event-related volatility using the forward volatility and use that to calculate the event-related move

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Google forward volatility if you don't understand what it is

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EDIT:

What does naked women have to do with implied moves?

 

They're Greek

 

bahaha!!!

 

There's a couple of threads on this subject here already.