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Time to expiration and the vega
The more time remaining to option expiration, the higher the vega. This makes sense as time value makes up a larger proportion of the premium for longer term options and it is the time value that is sensitive to changes in volatility.
The chart above depicts the behaviour of the vega of options at various strikes expiring in 3 months, 6 months and 9 months when the stock is currently trading at $50.
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