In my experience Zach, not really. IV is a market unto its self. Its obviously correlated with historical Vol, but will expand and contract much quicker than historical vol, especially in times like last week, and it is forward looking in nature. IV is a function of the price of the actual option which in turn is driven by the supply/demand for each option strike. IV also gets skewed, so you’d probably find IV (hence the price) of puts is higher than calls when a bearish shock hits the underlying market, and vice versa.