Vol Log Jump Factor

Key Vol Log Jump Factor in Merton76 Model refers to the value of the parameter δ in the distribution of log(1+J) given by: log(1+J) ~ N(μ,δ²)
It equals the standard deviation of the logarithm of the "jump factor" S'/S = 1+J in the underlying price poisson process, where S' is the underlying price right after a jump.
Setting Vol Log Jump Factor = 0 removes the jump size randomness (i.e. all jumps have the same fixed size), but the time occurrence of the jumps remains.