Yeah, basically. Also need the strike, spot, an estimate of the risk free rate (probably not today).
The implied vol is a useful way to make sense of the actual market prices of options. We also might have some predictions about the market's implied vol changing going forward and we can reverse those errors back into expected price changes (and maybe trade on them).
The implied vol is a useful way to make sense of the actual market prices of options. We also might have some predictions about the market's implied vol changing going forward and we can reverse those errors back into expected price changes (and maybe trade on them).