What It Scores
WAVY is a valid word in the tournament list this site uses. Tile values only, before any premium square: 13 in Scrabble and 13 in Words With Friends. The letters break down as W4 A1 V4 Y4.
Words Made From The Letters In WAVY
6 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 (3)
2 letter words (3)
Next: the Word Unscrambler for any letters at all. Full entry and definition at Merriam-Webster.