smile
n.— «A reference to the common shape of a graph of at- or out-of-the-money put and call implied volatilities for options with a common expiration date. The name comes from the fact that the furthest out of the money options generally have the highest implied volatilities, causing the ends of the graph to turn up. » —by Gary L. Gastineau, Mark P. Kritzman Dictionary of Financial Risk Management , 1999. (source: Double-Tongued Dictionary)
Further reading
What kind of book do people ask for most often in prison? Romance novels? No. The Bible? No. The most requested books by far are … dictionaries! A number of volunteer organizations gather and distribute used dictionaries to help inmates with...
What if, instead of being an inanimate object, a dictionary were alive? That’s the idea behind a lavishly illustrated new children’s book called The Dictionary Story (Bookshop|Amazon) by Oliver Jeffers and Sam Winston. This is part of a...