Why is IV so high with only 2 days to go for BBRY

[Victor123]

Why is the IV of the BBRY call options with only 2 days to go so high for ITM and OTM options?

Should not less time to go imply less volatility, since there is less time for the stock to bounce around?

 

[panzerman]

The phenomena known as volatility smile is probably at work here. The real analysis to be done is to look at a normalized IV surface and determine if the current IV smile is out of line with historic IV smiles.

 

[OTM-Options]

Why is the IV of the BBRY call options with only 2 days to go so high for ITM and OTM options?

I would assume that any tidbit of news would have a big impact on BBRY - hence the high IV.

Should not less time to go imply less volatility, since there is less time for the stock to bounce around?

I don't see why time would influence the IV. Unexpected news can come at anytime.