Put options open interest is much higher than those on the call side suggesting a downward bias in the market.
If you know these concepts you can trade better in options.
Going by the broader market perspective, the definition of high IV and low IV changes depending upon the market scenario.
The previous two sessions on “Knowledge Center: Learning Derivatives†explained the concepts of Future & Option contracts. This session elaborates further on Option contracts. An option contract is a contract which gives one party the right to buy or sell the underlying asset on a future date at a pre-determined price (called the strike price).
With flexibility, limited risk hedging and leveraging, Options is indeed a good too for trading in the markets