The implied volatility is the volatility that gives the current option price (given the risk free rate, dividend, time to maturity and strike price).

The related link contains a spreadsheet to help you calculate implied volatility in VBA

A component of the option price is the implied volatility of the stock.

When the implied volatility rises the price of the option rises slightly.

Read more about VEGA & DELTA of an option.

Implied volatility is the expected volatility of the underlying stock. The higher the implied volatility, the more the underlying stock is expected to move and thus the more expensive an option becomes due to increased extrinsic value.

To calculate implied volatility using Solver, you need an options pricing model (such as Black-Scholes) and market data (including the option price, strike price, underlying asset price, risk-free rate, time to expiration, and any dividends). Build the pricing model in a spreadsheet, input the market data, and set the initial volatility value in Solver. Set the objective to match the calculated option price with the market price by changing the volatility cell. Run Solver to find the implied volatility that minimizes the difference between the calculated and market option prices.

Option Vega is the change in the value of an option for a 1-percentage point increase in implied volatility, i.e. the first derivative of the option price with respect to volatility.