I know my LEAPS Calls technically will be affected by an IV crush but will the impact be miniscule since I am more than 1 year to expiration? I surmise the higher the delta I have (closer in the money) the better safeguard I have for an IV crush.
Also, if historical IV for the underlying is 140% and now the latest 30 day IV average is 120% do the IVs tend to stabilize around historical IV eventually? Seeing how the market in general is very uncertain of the underlying if the historical IV is that high?