{"schemaVersion":1,"asset":"ETH","reportDate":"2026-09-25","timestamps":{"currentSnapshotAt":"2026-09-25T17:28:00+00:00","previousSnapshotAt":"2026-09-24T17:28:00+00:00","generatedAt":"2026-09-25T17:29:14+00:00"},"comparison":{"status":"available","note":null},"provenance":{"reportArtifact":"published daily report","sourceReport":"ETH","sourceReportHref":"/reports/eth/2026-09-25","source":"Derivasys proprietary historical SVI surface and canonical ETH index databases","comparison":"Nearest successful surface snapshots approximately 24 hours apart","rrConvention":"25-delta call IV minus 25-delta put IV","bfConvention":"Average 25-delta wing IV minus ATM forward IV","fixedTenors":"Fixed-tenor measures are published only when listed expiries bracket the target at both comparison snapshots. Targets outside either observable range are suppressed, not extrapolated; headline rankings use only supported tenors.","realisedVolatility":"Annualised root-mean-square of one-minute canonical ETH-USD index log returns using a 365-day basis; all windows end at the current snapshot."},"tenors":[{"tenor":"1W","targetExpiry":1790962080158,"availability":"available","unavailableReason":null,"atmIv":{"current":38.75,"previous":44.86,"change":-6.11,"percentChange":-13.62},"rr25":{"current":-1.25,"previous":-1.17,"change":-0.08,"percentChange":-6.84},"bf25":{"current":2.21,"previous":2.87,"change":-0.66,"percentChange":-23}},{"tenor":"2W","targetExpiry":1791566880158,"availability":"available","unavailableReason":null,"atmIv":{"current":43.84,"previous":47.12,"change":-3.28,"percentChange":-6.96},"rr25":{"current":-1.06,"previous":-0.5,"change":-0.56,"percentChange":-112},"bf25":{"current":2.48,"previous":2.82,"change":-0.34,"percentChange":-12.06}},{"tenor":"1M","targetExpiry":1792949280158,"availability":"available","unavailableReason":null,"atmIv":{"current":47.1,"previous":49.04,"change":-1.94,"percentChange":-3.96},"rr25":{"current":-0.53,"previous":-0.08,"change":-0.45,"percentChange":-562.5},"bf25":{"current":2.25,"previous":2.78,"change":-0.53,"percentChange":-19.06}},{"tenor":"3M","targetExpiry":1798219680158,"availability":"available","unavailableReason":null,"atmIv":{"current":51.81,"previous":52.49,"change":-0.68,"percentChange":-1.3},"rr25":{"current":0.2,"previous":0.49,"change":-0.29,"percentChange":-59.18},"bf25":{"current":2.98,"previous":3.19,"change":-0.21,"percentChange":-6.58}},{"tenor":"6M","targetExpiry":1806082080158,"availability":"available","unavailableReason":null,"atmIv":{"current":53.88,"previous":54.25,"change":-0.37,"percentChange":-0.68},"rr25":{"current":0.62,"previous":1.03,"change":-0.41,"percentChange":-39.81},"bf25":{"current":3.14,"previous":3.29,"change":-0.15,"percentChange":-4.56}},{"tenor":"9M","targetExpiry":1813944480158,"availability":"available","unavailableReason":null,"atmIv":{"current":54.87,"previous":55.05,"change":-0.18,"percentChange":-0.33},"rr25":{"current":1.44,"previous":1.76,"change":-0.32,"percentChange":-18.18},"bf25":{"current":2.84,"previous":2.98,"change":-0.14,"percentChange":-4.7}},{"tenor":"1Y","targetExpiry":1821893280158,"availability":"unavailable","unavailableReason":"The target tenor falls outside the listed-expiry range at one or both snapshots; extrapolated values are suppressed.","atmIv":{"current":null,"previous":null,"change":null,"percentChange":null},"rr25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25":{"current":null,"previous":null,"change":null,"percentChange":null}}],"realisedVolatility":{"source":"canonical/ETH-USD-INDEX (DERIBIT and OKX indexes)","fallbackObservations":72,"fallbackPolicy":"Missing canonical minutes use the stored Deribit index first, then the stored OKX index; canonical bars always take precedence.","samplingInterval":"1 minute","annualizationBasis":"365 days","windowEnd":"2026-09-25T17:28:00+00:00","spotWindowStart":"2026-09-24T17:28:00+00:00","spotMetric":"spot-index return","spotUnit":"percent","spotMove24hPercent":0.19,"rv24hPercent":null,"rv7dPercent":null,"rv30dPercent":null,"observations":{"24h":1370,"7d":10010,"30d":43130},"coverage":{"24h":{"status":"unavailable","observedReturns":1370,"expectedReturns":1440,"coveragePercent":95.1389,"missingPriceMinutes":68,"missingIntervals":2,"largestMissingRunMinutes":67,"unavailableReason":"24h RV requires at least 99.5% valid one-minute returns and no price gap over 60 minutes; coverage is 95.1389% with 68 missing price minutes across 2 intervals and a largest gap of 67 minutes."},"7d":{"status":"unavailable","observedReturns":10010,"expectedReturns":10080,"coveragePercent":99.3056,"missingPriceMinutes":68,"missingIntervals":2,"largestMissingRunMinutes":67,"unavailableReason":"7d RV requires at least 99.5% valid one-minute returns and no price gap over 60 minutes; coverage is 99.3056% with 68 missing price minutes across 2 intervals and a largest gap of 67 minutes."},"30d":{"status":"unavailable","observedReturns":43130,"expectedReturns":43200,"coveragePercent":99.838,"missingPriceMinutes":68,"missingIntervals":2,"largestMissingRunMinutes":67,"unavailableReason":"30d RV requires at least 99.5% valid one-minute returns and no price gap over 60 minutes; coverage is 99.8380% with 68 missing price minutes across 2 intervals and a largest gap of 67 minutes."}},"coveragePolicy":{"version":"observed-minute-returns-v1","minimumCoveragePercent":99.5,"minimumCoveragePercentByWindow":{"24h":99.5,"7d":99.5,"30d":99.5},"maximumMissingRunMinutes":60,"methodology":"Each RV window qualifies independently. RV annualises the mean squared observed one-minute log return; returns spanning gaps are excluded, not interpolated or zero-filled. Partial estimates assume observed minutes are representative and may miss volatility during gaps."},"spotUnavailableReason":null,"oneWeekAtmIvPercent":38.75,"oneWeekIvMinus7dRvPoints":null,"oneWeekIvMinus24hRvPoints":null,"oneWeekIvMinus30dRvPoints":null,"oneWeekIvTo7dRvRatio":null,"spreadPercentile":null},"realisedVolatilityUnavailableReason":null}