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.
labor union. noun. Legal Definition of labor union. : a labor organization usually consisting of workers of the same trade that is formed for the purpose of advancing its members' interests (as through collective bargaining) in respect to wages, benefits, and working conditions â see also craft union, bargaining unit.