In Christianity, the Epiphany refers to a realization that Christ is the Son of God. Western churches generally celebrate the Visit of the Magi as the revelation of the Incarnation of the infant Christ, and commemorate the Feast of the Epiphany on January 6.
Acelity began as Kinetic Concepts Inc., a medical technology company founded in 1976 by Dr. Jim Leininger, an emergency room physician in San Antonio, Texas.
The historic volatility is the movement that did occur. The implied volatility is the movement that is expected to occur in the future. When we are estimating future prices, we use the implied volatility.