In the previous chapter, we introduced the concept of Volatility. We saw things such as what volatility is, the most widely used measure of volatility, how to calculate and interpret standard deviation, how to annualize standard deviation, how to convert annualized standard deviation into the time period that you desire, how to calculate standard deviation in Microsoft Excel, what historical volatility is, and what implied volatility is. Given that we now understand the basics of volatility, it is time to refocus on Options Greeks and talk about our next Greek: Vega.