To understand what it means, you'll need more context.
Here are some possibilities:
* Typo: It could be a misspelling of a word like "okay," "over," or "away."
* Slang: It might be a slang term used in a particular community or social group.
* Regional dialect: Some words and phrases are specific to certain regions or dialects.
To get a better understanding of the meaning, please provide more context like:
* The sentence or conversation where you saw the word.
* The speaker's background or location.
* Any other clues about the meaning.
With more information, I might be able to help you understand the intended meaning of "ovay."