I hold a long position in a call option on IBM stock. If the price of IBM goes down and its volatility goes up, then the value of my call option

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The value of a call option is influenced by both the underlying stock price and the volatility of the stock. If the price of IBM goes down, the value of the call option typically decreases because the likelihood of the option being in-the-money (strike price below stock price) at expiration decreases. However, if volatility increases, the value of the option can increase because higher volatility increases the potential for the stock to move above the strike price before expiration. Therefore, the net effect on the option's value can be an increase, decrease, or no change, depending on the relative magnitudes of the price decrease and the volatility increase.

I Hold a Long Position in a Call Option on IBM