What is LOLNO?

1. I do not find this to be funny.

2. I do not agree that this joke is funny.

-Did you know women poop when they give birth? XD
-Lolno

LOLNO - meme gif

A response to a statement that was so incorrect, that it was funny.

Derp: "Cows have a secret gland that makes them grow leaves on their back"

Me: "....LOLno."

When someone pretends to laugh at a joke, but then rejects it absoloutely.

Barry:...and then there wasn't any chicken left!
Me: LOLNO