Accepted answer
It gives 1 mg/mL, and whether that is sensible depends on the dose you will draw from it. 2 ÷ 2 = 1 mg/mL in sterile water for injection. A 0.5 mg dose is then 50 units on a U-100 barrel and a 1 mg dose is 100 units. Both land high on a 0.3 mL barrel; a 0.5 mL barrel or less diluent would be tidier.
Answer first: diluent volume sets concentration and therefore resolution on the syringe barrel, and resolution is free at reconstitution and impossible to recover afterwards.
Worked example. A 10 mg vial reconstituted with 2 mL gives 5 mg/mL. A 0.5 mg dose is 0.5 ÷ 5 = 0.1 mL, which on a U-100 syringe is 10 units. Reconstitute the same vial with 1 mL and the concentration doubles to 10 mg/mL, the same dose becomes 0.05 mL, and you are now reading 5 units instead of 10 — the same dose at half the resolution.
More usefully, dead-space loss scales with the number of draws, not with the concentration, so a lower concentration spread over more draws loses proportionally less of the total peptide.
U-100 means 100 units per millilitre by definition, so 1 unit is 0.01 mL and volume in millilitres times one hundred gives units. Every conversion here reduces to that.
Choose the volume that puts your largest intended dose between 10 and 30 units. Everything else follows.