confusion in IV analysis

[Nitin Bhatia]

sir…
there are two thing i learned abiut iv..
1) it measures fear.. if call iv is high .. means ..bull are fearful.. and market will go down . and vice versa..

today.. i observed it too that when iv of put side was 40 and call side iv was 30 .. market rallied upside…

2) second thought .. is that iv does not tell direction.. it only tells degree of transactions going on at any strike price.. when big players create position ant any strike price.. iv increases.. even when they close the position iv increases…

so…. plz clarify.. how to use iv.

[Author]

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