Hi, Was reading this: http://www.schaeffersresearch.com/sentiment/pdfs/sentiment_2012_Summer.pdf. There is a section later on about implied vol. It says: "Options on stocks with low implied volatilities do not need ot make very big moves to yield an attractive profifts, ...." Could someone explain why this is? Is it because the Iv was low, the options themselves were low and so you can get closer to ATM, resulting in a large move in the value of the option itself increases? Thanks, AIJ.