Over-leveraging with far out-of-the-money options is risky due to Vomma and rapid volatility expansion

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Traders often over-leverage by selling multiple far out-of-the-money options due to favorable buying power, but this strategy is highly susceptible to market slides because the second-level Greek, Vomma, which measures the acceleration of Vega, peaks around 5-delta options, causing immense pain as volatility can double rapidly, forcing liquidation even if the option is still likely to expire worthless.