在市场平静的时候，愿意出售期权的人增加，使它们的价格，也就是隐含波动性的等级下降。
In quiet markets, the number of people who want to sell options increases, driving their prices, and thus the level of implied volatility, down.
也许因为这些大牌昂贵的价格，或者因为这位那位名流恰巧出现在它们的广告中，这些大牌使我们相信它们更安全。
They make us believe that they are safe perhaps because they are so expensive, or because this or that celebrity happens to appear on their advertisement.
能对下跌的价格下赌注(“卖空”)使它们区别于传统的“只做多头”基金，后者只能在价格上升的时候获利。
This ability to bet on falling prices (" going short ") distinguishes them from traditional "long-only" funds, which profit only if prices rise.
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