Premium not falling

Hi Community friends,

I have Sold 33300 PE yesterday at 97 when market was at 35330. I expected market to move up.

Today market opened at 36000 and VIX is at 2% higher but my premium didn’t fall.

I feel 2% hike in VIX for a move like 35330 to 36000 is not very important to consider, but my premiums are not falling.

Can someone explain the reason for this condition.
Thanks in advance.

Today it looks like BN IV shoot up heavily & didn’t cool down much. Mostly it will start to reduce from Monday & you can earn profits


Option premiums are not that simple to model it has varied factors like IV, VIX, number of buyers and sellers etc, if there is no sellers and only buyers of options even though underline moves in your direction premiums moves opposite. I have seen Put rise up even though Index moved up etc or call didn’t move up even though Index shot up. ONLY one thing is certain <ATM (Out of the Money) will expire to 0 at Thursday 3:30 pm :stuck_out_tongue: