Realized volatility refers to:

a. The markets expected volatility embedded in a derivatives contract on a given asset b. The volatility that is experienced by an investor over the life of a derivative contract c. A calculation of historical volatility of an underlying asset prior to investing in a derivatives contract on that asset d. The existence of jumps in asset prices due to market-moving news or earnings announcements e. The forecasted volatility projected by investors when considering an investment in a derivatives contract on a given asset