Coffee Traders' Forum - A Discussion about Coffee Futures Trading
Coffee Traders Discussion Forum
Hello markwilim, The volatility smile or the volatility curve is simply an illustration of the value of implied volatility for out of the money strikes in contrast to the at the money value. The following link will bring you to an in depth explanation of the "smile":
Although I do trade options actively, there are others in the forum that are very familiar with the terminology used in options. Hopefully they will share their thoughts as well.