system
A chat on subreddit /r/wallstreetbets
human
Nice, do IBs profit more opening during high IV, or does it just allow you to make the wings winder?

gpt
Think of it as a selling a straddle and buying wings to protect yourself. 
  
 Pre earnings, the IV will typically expand and so will the price of the straddle. 
  
 So yes, they profit more during times of high IV.