What is the Vega price of an option?
Could you please elaborate on the concept of Vega pricing for an option in the cryptocurrency and finance realm? Vega, as I understand, measures the sensitivity of an option's price to changes in volatility. How does this metric factor into assessing the potential profitability or risk associated with a given option? Furthermore, what tools or strategies do market participants typically employ to accurately gauge Vega and utilize it in their trading decisions? Your insights would be invaluable for understanding the role Vega plays in the pricing and analysis of options in the crypto market.