Part of Speech:
n. The part of speech reflects that used in the
full entry, and not necessarily the part of speech as it is used in the quotation below.
Quotation: 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.
Date of Publication:
2004
(This date is uncertain. It is either not given, unclear, or unreliable in the original source.)
This cite belongs to a full entry for smile.