A trader was asked to show a bid to buy $110.00 calls from a customer. The stock price was $105.00, the interest rate was 5%, and the implied volatility was 35%, and there were 60 days until expiry (based on a 365 day year).

The customer takes some time to think about it, and asks for a re-pricing of the deal.

With 45 days to expiry the stock price was $108.00, the interest rate was unchanged, and the implied volatility was 38%.

The customer likes the price and hits your bid for options equivalent to 75,000 shares.

At 10 days before expiry, the stock price has rallied to $109.00, the interest rate is unchanged, and the implied volatility has increased to 39%. Ignoring the shares bought/sold in Part 3 and focusing only on the option position, is it more or less responsive per unit of directional change in the price of the underlying relative to the measurements with 45 days to expiry?