### Comment:
This is theta not IV. Because option loses externistic value every day, every day the underlying needs to move further in the favourable direction for the option to have the same value as day before

### REPLY:
Wtf? It's both 
  
 Higher IV = Higher Theta 
  
 Edit: also your breakeven doesn't move ever. You know your break even at the time of entry. The closer to expiry the tighter the breakeven before entry. (E2:nvm)

### END.