dollar-cost averaging achieves

implied volatility tells you

Implied volatility indicates the market's expectation of future price movement

Volatility smile

Implied volatility varies with strike price, contradicting Black-Scholes

Bid–ask spread

Bid-ask spread measures transaction costs and liquidity

VIX

VIX measures 30-day S&P 500 volatility

Bias ratio

Bias ratio detects valuation bias in asset pricing

Deflated Sharpe ratio

DSR penalizes upside volatility as much as downside