water   Water is a gas when it is steam. It condenses to liquid, becoming water. It becomes solid when it freezes, and then becomes liquid again as it melts. The entire pro â¦ cess depends on temperature. The molecular structure of water does not change throughout all these changes.
Volatile Definition: Volatile refers to a substance that vaporizes readily. Volatility is a measure of how readily a substance vaporizes. By Anne Marie Helmenstine, Ph.D.
From Wikipedia, the free encyclopedia. In financial mathematics, the implied volatility of an option contract is that value of the volatility of the underlying instrument which, when input in an option pricing model (such as BlackâScholes) will return a theoretical value equal to the current market price of the option.