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.
About trade unions. Trade unions are groups of employees who join together to maintain and improve their conditions of employment. The typical activities of a trade union include providing assistance and services to their members, collectively bargaining for better pay and conditions for all workers, working to improve the quality of public services, political campaigning and industrial action.