What It Scores
PIOY is a valid word in the tournament list this site uses. Tile values only, before any premium square: 9 in Scrabble and 10 in Words With Friends. The letters break down as P3 I1 O1 Y4.
Words Made From The Letters In PIOY
9 shorter words come out of these tiles. On a board that matters more than the long play, because a short word on a premium square often beats a long one on plain squares.
3 letter words (2)
2 letter words (7)
Longer Words Containing PIOY
PIOY appears inside each of these, which is what makes it worth knowing as a hook.
Next: the Word Unscrambler for any letters at all. Full entry and definition at Merriam-Webster.