In listed option's world, sometimes I see someone put different vols interchargablly, e.g. 6.7% Vol or 171 abpv or 11 dbpv may anyone elaborate each jargon in some detail, and how and when should they be used? Also are there any formula to quickly derive one another? Thanks.
I’ve never seen those on Bberg but I’m sure they stand for annual basis point vol and daily basis point vol respectively. This is how most people look at interest rate options. You can also look at lognormal vol but most people don’t. The approximate relationships between them :$$ DBpv = abpv/ sqrt (252). $$ And $$ Logvol = abpv/ forward rate $$