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 Unions. A labor union is a third-party organization that acts as liaison between workers and the management of the companies that hire them. Labor unions commonly represent workers who perform manual labor, such as factory workers and janitors, but they can also represent teachers and other educated workers.