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
Advice about college essays from the winner of a top prize for children’s literature: Kelly Barnhill encourages teens to write about experiences that are uniquely their own, from a point of view that is theirs and no one else’s. Plus, why do we say...
While compiling the Oxford English Dictionary, lexicographer James Murray exchanged hundreds of letters a week with authors, advisors, and volunteer researchers. A new collection online lets you eavesdrop on discussions about which words should be...