This measure would not account with the volatility σ of the underlying asset. Unlike former inputs, volatility is indirectly observable from market details, but should rather be computed in certain model, mainly working with ATM implied volatility from the Black–Scholes design. Dispersion is proportional to volatility, so standardizing by volatility https://strike-price97395.vblogetin.com/32432068/top-guidelines-of-implied-volatility