15.9 Other Volatility smiles What is the volatility smile if True distribution has a less heavy left tail and heavier right tail True distribution has both a less heavy left tail and a less heavy right tail Options, Futures, and other Derivatives, 5th edition 2002 by John C. HullOptions, Futures, and Other Derivatives, 5th edition © 2002 by John C. Hull 15.9 Other Volatility Smiles? What is the volatility smile if • True distribution has a less heavy left tail and heavier right tail • True distribution has both a less heavy left tail and a less heavy right tail