Can anybody explain to me Why should we calculate implied volatility if there is already an implied volatility index where implied volatility is already calculated??? I can't understand the difference
closed as unclear what you're asking by Daneel Olivaw, skoestlmeier, Helin, LocalVolatility, Attack68 Jan 5 at 19:40
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Assuming that you imply that the corresponding volatility index is VIX, it's value represents the 30day IV using the out-of-the-money puts and calls. However, it doesn't capture the structure of the IV for different strikes and maturities. Secondly, depending on the model, we might extract different IV from the IV implied by the BS formula. For instance, under a jump-diffusion model we would extract different IV if we need to price short-term options.