All-In on Calls at Bottom of the Dip

What would be an approximate gain. I know that volatility in the black Scholes pricing model would have an insane impact on the price of the options. I'm assuming as the volatility dies down, your returns would be stunted. Any idea what a potential return could be and why people dont invest throughout dips. When the market is down 35% it just makes sense. it's not going to last forever looking at history.