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
What do you call a long sandwich filled with lots of ingredients? Whether you call it a sub, a hoagie, a grinder, or something else entirely depends on where you’re from. And: Martha’s visit to an Alaskan reindeer ranch reveals why you...
Is there such a thing as a “neutral” accent, and if so what does it sound like? And that quirk in the way southern Californians talk about freeways. They’ll say things like take the 405 and get on the 8. Why the definite article...