No i think you've got the concept pretty well, I just didn't explain my point very well. Volatility is an input to the BS FORMULA so the market price just implies a certain volatility input so everything calculates out just fine. But compared to historic or realized volatility, the lower the strike price the higher the premium paid, I.e. IV above H V. Reasons appear to be risk on the puts of a sharp move but I'd also guess supply and demand, there are more of call writers than put writers. Also the natural bias of the market to go up over time with inflation, economic expansion i read was a factor.
The point being that there is a slight skew in option pricing but sufficient to affect the way you might otherwise trade puts vs calls.
(20min delay)