The Volatility Surface Explained: What Your Broker's 'IV' Isn't Telling You
Your broker shows you one implied volatility number. The market prices hundreds. That single IV reading next to your option chain is a summary statistic, like describing the weather in
Implied Volatility in Options Trading: What It Actually Is (and What It Isn't)
Your options lost money because you treated implied volatility as a forecast. Everyone does at some point. You saw IV at 50% and assumed the market expected a 50% annualized