How Does the ‘Sticky Delta’ Concept Relate to Options Trading?

'Sticky Delta' is a hypothesis that suggests that when the underlying asset price changes, the Implied Volatility (IV) for a given Delta level (e.g. 25-Delta) tends to remain constant.

This contrasts with the 'Sticky Strike' hypothesis, where IV for a given strike price remains constant. Sticky Delta is often observed in the cryptocurrency options market during significant price moves.