Howard has a few adjustments to make in his portfolio, but before that, they recap their discussion on IV Rank.
Previously, they used IV Rank to not only help with trade entry, but also to manage existing positions.
Tom explains that implied volatility is simply a measure of expected move. From there, he walks through how the IV Rank metric is calculated based on the maximum and minimum implied volatility over a specific timeframe in ONE underlying.
Moving on, Tom and Howard examine a few other metrics, like individual delta versus beta-weighted delta.
Check out this segment for a better understanding of the metrics options traders look at to enhance a portfolio and adjust positions!
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