Hmmm.... simple definition of I/Volatility as applies to derivatives (ETO's/ Equity Warrants) and expressed as a percentage ... is the likelihood (%) that the current Underlying Price (Stock Price) will reach the Strike Price by the Expiry Date ...
Watch out for Warrants as the I/Volatility quoted (e.g. Parity) is seldom the TRUE figure according to BSOPM modeling ... rather a number created by MM's to support their preferred Bid/Ask position ...
