smile
n.— «The pattern of implied volatilities form a “smile” shape, which is called a volatility smile. Most derivatives markets exhibit persistent patterns of volatilities varying by strike…In practice, either the term “volatility smile” or “volatility skew” (or simply skew) may be used to refer to the general phenomena of volatilities varying by strike. Indeed, you may even hear of “volatility smirks” or “volatility sneers”, but such names are often as much whimsical as they are descriptive of any particular volatility pattern.» —“Volatility Skew” riskglossary.com , 2004. (source: Double-Tongued Dictionary)
Further reading
Astronauts returning from space say they experience what’s called the overview effect, a new understanding of the fragility of our planet and our need to reflect on what humans all share as a species. A book about the end of the universe...
Lee in Charleston, South Carolina, remembers her dad used to refer to a blue patch of sky after a rain as kitten’s britches. Similar terms include Dutchman’s trousers, old woman’s apron, and cat’s vest, all suggesting that...