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.
To understand what implied volatility (IV) is, you must first understand what volatility is. Volatility measures the amount that something changes (or in more fancy jargon, it measures the magnitude of change). For example...the price of gas is volatile.