Abstract: Postmodernism is commonly described as incredulity towards metanarratives. A metanarrative is an abstract idea that is thought to be a comprehensive explanation of historical experience or knowledge. It claims to arrive at a single universal truth. But postmodernism undercuts this holistic stance by establishing alternative possibilities for construction of truth. The word "parody" is still tainted with eighteenth century notion of wit and ridicule but coming out of such period limited definitions, parody in postmodern texts can mean witty ridicule as well as intertextuality or ironic quotation. The article analyses Margaret Atwood's novella The Penelopiad, exploring the postmodern conventions of historiographic metafiction and parody. Employing her tongue-in-cheek humour and featuring two centres of consciousness, Atwood subverts the Homeric omniscient narrator. Resurrecting the mysteriously veiled figure of Penelope, Odysseus's wife, who is known for her nobility and constancy, Atwood gives Penelope the narrative voice, telling a widely different tale from the Homeric version.Keywords. Margaret Atwood; The Penelopaid; postmodernism; metanarrativeIntroductionMyths are timeless, larger than life stories that naturalize gender roles through their fixed representations of men and women. One such Greek myth, Odyssey, is the story of noble and constant Penelope, wife of Odysseus "known to the world / for every kind of craft" (Homer 1996: 139). In Homer's myth, while Odysseus, the wanderer, has the talent to deceive and is a persuasive speaker, Penelope is presented as a loyal and trustworthy wife, who keeps the suitors at bay while pretending to weave a shroud for her father-in-law. Margaret Atwood resurrects the long-suffering, mysteriously veiled figure and narrates her tale of woe in a witty and invigorating style that makes us chuckle.Postmodernism is most succinctly described as "incredulity towards metanarratives" by Jean Francois Lyotard which means disbelief or rejection of any holistic or totalizing view. The dominant attitude in postmodernism is scepticism. A postmodern narrative is sceptic of any moral or political judgments because it undermines the validity of any one privileged position or any single truth. No longer relying upon the validity of meta-narratives, it demands alternative possibilities for the construction of truth. Whereas Homer's tale was recited by an omniscient narrator, Atwood features two centres of consciousness (Penelope and the maids) which not only refute or endorse each other's viewpoints but delineate the opinion of two classes of the society: the royalty and the beggar-maids. Atwood's story openly subverts the consensual and conventional patriarchal thinking prevalent in the times of Homer. But even in Homer, Penelope is not a monolithic figure. She is enigmatic till the very end. She is enduring and patient yet an object of suitor's desire and also of her son's suspicions. Although firm in her decision not to remarry, she does feel flattered by the suitor's attentions. When Athena instructs her "to display herself to the suitors, fan their hearts/inflame them more" (1996: 308), she betrays her own longing which lies beneath that calm, unruffled veneer of loyalty to her husband. Although "wary and reserved" (1996: 14), Penelope like Odysseus is a woman of many "twists and turns", as is revealed by Atwood's short fiction. In this paper, we analyse The Penelopiadjds a metafictional historiography and a postmodern parody.Analysis and DiscussionTraditional realism was based on mimesis of an objective truth that was mirrored by language but poststructuralists like Roland Barthes and Jacques Derrida reject the possibility of a mimetic reflection of life through art because for them life is as much of a linguistic construct as art itself. For Derrida nothing is outside "text", challenging therefore the separation of literary and historical. …