### Comment:
Vega values for long term options are higher (like 2 to 3 times higher) than the short term options. So for every 1% drop in IV, the long term option loses more than the short term options.  
  
 Even if you assume that the vol crush for long term strike is only half of the short term strike, there is not much to gain from the IV drop. 
   


### REPLY:
Iv crush on the front dated option was 3x more than the backdated this morning.  11/2 iv 120 to 20ish.  11/30 went from 60 to 28.   11/30 Vega wasn’t more than triple and so this gained from iv crush.

### END.