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.
Labor Organization Definition: A defined group of employees formed for the purposes of representing those employees with the employer as to the terms of a collective contract of employment. Related Terms: Union, Trade Union, Labor Union, Collective Bargaining, Disclaimer of Interest.
What is a Union? A union is an organized group of workers who come together to make decisions about the conditions of their work. Through union membership, workers can impact wages, work hours, benefits, workplace health and safety, and other work-related issues. Under U.S. law, workers of all ages have the right to join a union.