Whether you buy a call or put, you’re long volatility. Intuitively, when you buy an option, you hope the underlying will go into the money, and higher volatility makes that event more likely.
this doesn’t sound right to me. ??longing a put, you will expect the underlying price go down. volatility goes up, put value goes down. so it’s shorting the volatility.
RRL, does a put’s value actually go down when volatility goes up? One way to look at is to remember that an option’s vega is always positive, and is the same for a call and put with the same characteristics.
Not too many words needed. Volatility is your friend when you are long in either a call or put. ( you want your underlying to move, move and move- that’s what you are betting on.) Q.E.D. -Yanis
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