O RLY?, short for Oh, really? is a popular Internet phenomenon, typically presented as an image macro. The usual conversation flow starts with O RLY?, triggering a YA RLY (Yeah, really) response, and then ending with NO WAI!!! (No way) (though sometimes OIC (Oh, I see) is used instead). An additional exchange of SRSLY? SRSLY! (Seriously? Seriously!) or YA WAI... (Yeah way...) may follow. The discussion may also be ended with a I WINZ (I win.) or I LOL'D (I laughed out loud).
O RLY? is typically used in a sarcastic or sardonic manner: it may be used to mock AOL speak or indicate that the original post was blatantly obvious. One may also troll by posting O RLY? in response to a lengthy post.