### Comment:
how is the IV calculated? is it based on some analysts bullshit or is it based on volume/demand?

### REPLY:
It’s based on the expectation that something crazy is going to happen and there will be a big move in the stock price, regardless of which direction. Once the big event happens, like an earnings release, the IV collapses. In this case, we don’t just have one big unknown crazy event happening (earnings) but rather two...earnings and lockup expiration.

### END.