On-base Plus Slugging (OPS)
Definition
OPS adds on-base percentage and slugging percentage to get one number that unites the two. It's meant to combine how well a hitter can reach base, with how well he can hit for average and for power.
It can also be used in evaluating pitchers; when used in that context, it is referred to as OPS against.
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Apparently it means this:
100* [OBP/1g OBP + SLG/1g SLG - 1]
Adjusted to the player's ballpark (s)
Don't ask me what it means because it doesn't even make any sense to a fifth grader.
OPS Stat in MLB is a metric that adds on base percentage to slugging percentage.