How Can an Options Trader Profit from a Decrease in Implied Volatility through a Specific Strategy?

A trader can profit from a decrease in implied volatility (IV) by selling options, as a drop in IV will cause the option premium to decrease, regardless of the underlying asset's price movement (assuming all else equal). Strategies like selling a 'strangle' or 'straddle' are common.

These involve selling both a call and a put option, profiting from the premium collected if the underlying price stays within a range and IV falls.