How Is the Concept of “Vega” Related to Implied Volatility?

Vega is an option Greek that measures the sensitivity of an option's price to a 1% change in implied volatility (IV). Since IV is a direct input into the option pricing model, Vega quantifies how much the option's price will change if the market's expectation of future volatility shifts.

Naked option writers have negative Vega, meaning their position loses value if IV rises.