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
Unwrap the name of a candy bar, and you just might find a story inside. For instance, one chewy treat found in many a checkout lane is named after a family’s beloved horse. And: 50 years ago in the United States, some Latino elementary...
Quiz Guy John Chaneski was inspired by a version of film in which a filmmaker went to the trouble to take a clip of every word used in the movie The Wizard of Oz, arranging them in alphabetical order, all the way to the Tin Man’s saying zipper...