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I hope that you are having a great day,

I am trying to write a research paper on the Heston model deep calibration. I noticed during my literature review that the most common approach is to calibrate the model to implied volatility and not option prices. What is the rationale behind this ?

Thanks a lot

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    $\begingroup$ Deep ITM and OTM Option prices are not very sensitive to input parameters, while implied volatility is. $\endgroup$
    – river_rat
    Apr 17 at 15:24

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