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
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...
Floordrobe is the new word for an old habit: piling your clothes on the floor instead of putting them away. The Oxford English Dictionary recently added an entry for it, defining floordrobe as “an untidy heap of discarded clothing left on the floor...