Options Trading, Options Greeks, Volatility Trading, Moontower, Black Scholes Model.
talking about a $50 crazy biotech stock or a $50 bond ETF the 1-year vega is exactly the same even if the straddle prices will vary according to the implied vols. The vega of the ATM option is the maximum vega of any option in that expiry. This statement implies that the vega of an option varies by