The Analox II is very easy to inadvertently knock it out of calibration. That little knob is very sensitive and way too easy to turn a smidge by accident.
Thus, you should calibrate every time you take it out of the box or after setting it down for any amount of time.
If you're analyzing mixes that are 30-ish % or less, calibrating in ambient air is generally okay. But, you DO run the risk of encountering a current limited cell that, for example, reads 21 in air, but only reads (for example) 25 when it's exposed to 30%.
If you're analyzing mixes like 70%, you should calibrate with O2 and then confirm that it reads very close to 21 in ambient air. Or calibrate in air (ambient or tank) and then confirm it reads 100 when you expose it to pure O2.
If you only calibrate to O2 and the cell is current-limited, it could tell you that you have 100% in a cylinder that is really only 70% (for example). Or it could tell you some other complete wrong value for a mix.
Using a second point to verify calibration is really important. Not doing it won't bite you very often. But, it CAN and when it does, it could be really bad.
Example:
Your cell puts out 10mV in Air.
If it's healthy, it will put out 4.76 times that or 47.6 mV in 100% O2. (because 100% / 21% = 4.76)
If it's current limited, it might still put out 10mV in air, but only put out 40mV in O2. I.e. it is current limited to 40mV (and yes, I know volts are not current - I didn't create the terminology).
If you only do a single point calibration (in O2) with no verification in air, then the analyzer will think 40mV means 100%.
Then, if you feed it a gas that produces 20mV, it will tell you that you have 50% (because you told it 40mV is 100%). But, in reality, you only have 42%. 10mV is 21% (air), so double that (20mV) means double the FO2 - i.e. 42%.
But, if you had done that calibration in O2 and then verified it with Air, you see the analyzer telling you that it's reading 10mV (in Air) and that means you're analyzing 25% Nitrox. That's because you told it during calibration that 40mV is 100%. Therefore, 10mV is 25%.
A reading of 25% in Air is your clue that your sensor is hosed. It could be current limited, or it could just be really non-linear. Either way, it's time to just junk it and put in a new sensor.
Similarly, instead of calibration in O2 and verification in Air, you can do the opposite.
Calibrate in Air with 10mV means your O2 should produce 47.6 mV. If the cell is limited to 40mV, then the analyzer will tell you that your 100% O2 is actually (4 * 21%=) 84%. So, you still get the clue that your sensor needs to be replaced.
With that Analox II, calibrate AND verify every time!