How much does the volatility change for a 1$ move in the underlying

Question

Is there a quick and dirty way to approximate how much the volatility of an underlying would change for a 1$ move in the underlying.

The individual option Greeks measure the sensitivity of an option price w.r.t various factors like underlying price,volatility of underlying. But these factors are not independent.

Hence, I am trying to understand how a change in underlying affects the volatility.

Answer 1

The volatility measures how fast the stock moves, not how much. So you need to know the period during which that change occurred. Then the volatility naturally is higher the faster is the change.