Vega - Is the measure of change in an option given a change in the volatility. Theoretically, it measures the instantaneous change in premium to the instantaneous change in volatility. In practice, it tends to be viewed as the change in premium given a 1 percent in volatility. Vega Risk - Refers to the monetary exposure for a change in volatility for an option. It might refer to a change from 6 to 7 or 6 to 5 percent depending on whether a party is short or long the option.
Some participants breakdown the vega risks into finer gradients or decimals.
Verbal - Is the oral report or order given between the parties in a transaction. Verbal fills or order executions must be followed by written documentation of the transaction. This documentation is the confirmation. Versus Purchase - Is the specific identification of securities to be paired as completed transactions for tax purposes. Volatility - Is the annualized standard deviation of the natural logarithms of asset returns.