Vega

An option sensitivity to changes in implied volatility.

Vega measures how much an option price changes for a 1 percentage point change in implied volatility. Long options have positive vega, gaining value when volatility rises. Vega is highest for at-the-money options with more time to expiration and matters most around uncertain events like earnings.

High vega meant the long option jumped in value when implied volatility spiked before the news.