{"canonicalEventFacts":null,"editorialContext":null,"originalProducerEvidence":null,"weeklyMarketPattern":null,"schemaVersion":2,"metricDefinitions":{"bf25":{"version":"average-wing-minus-atm-v1","formula":"(iv25Call + iv25Put) / 2 - ivAtm","fullFlyFormula":"iv25Call + iv25Put - 2 * ivAtm","unit":"volatility points","conversionMethod":"verified-captured-explicit-bf25-else-decimal-full-fly-half-v1","rounding":"native six-place operands; four-place endpoints/change; two-place percent change","verification":"Exact capture hash, native builder/endpoints and rounded captured wing consistency; no raw-quote or SVI refit validation"}},"bf25Projection":{"kind":"derivedBf25Presentation","originalBasis":"unknown","historicalStatistics":{"status":"unavailable","reason":"Stored BF25 historical statistics, ranks and pooled summaries lack authenticated compatible metric-basis lineage; they are not rescaled or reconstructed."}},"schemaUrl":"https://www.derivasys.com/schemas/report-dataset-v2.schema.json","family":"altcoins","reportDate":"2026-09-19","sourceSelectionPolicy":null,"canonicalUrl":"https://www.derivasys.com/reports/altcoins/2026-09-19","datasetUrl":"https://www.derivasys.com/data/reports/altcoins/2026-09-19/data.json","headline":"Altcoin options reprice higher as AVAX volatility breaks away","timestamps":{"generatedAt":"2026-09-19T17:01:30+00:00","currentSnapshotAt":"2026-09-19T16:59:00+00:00","previousSnapshotAt":"2026-09-18T16:59:00+00:00","referenceCutoffAt":null,"comparisonCutoffAt":"2026-09-19T16:59:00+00:00"},"comparison":{"status":"available","validationStatus":"legacy","nativeObservationsOnly":false,"windowHours":null,"eligibility":null,"sourceSha256":null},"units":{"atmIv":"annualised percent","realisedVolatility":"annualised percent","rr25":"volatility points","bf25":"volatility points","change":"volatility points","return":"percent","slope":"volatility points","percentile":"percentile (0–100)","ratio":"dimensionless","forward":"USD"},"semantics":{"bf25":"Canonical derived BF25 = (25-delta call IV + 25-delta put IV) / 2 - ATM IV. Only authenticated captured inputs are projected; original producer bytes and native proof remain unchanged. fullFly25 is retained separately. Missing proof yields null BF25, never conversion inferred from a date or magnitude.","originalEvidence":"Hash-bound sourceRows, sourceCanonicalJson and sourceSha256 retain exact original producer inputs and conventions. They are original evidence, not newly canonicalized observations; only the explicitly identified BF25 derivatives claim the new canonical projection.","previousSnapshotAt":"For last-good-as-of-v1, the baseline belongs to the authenticated exact-endpoint comparison cohort; an unavailable cohort has null aggregate endpoints. Legacy baselines require every family constituent to share the same valid stored previous instant. Constituent timestamps remain unchanged; scheduled references and comparisonCutoffAt never substitute for native endpoints.","referenceCutoffAt":"Immutable scheduled edition reference for last-good-as-of-v1. Native fit ages are measured against this reference, never against publication or retrieval time; missing, future or more-than-three-hour-old native clocks have unavailable freshness.","relativeValueObservation":"Stored highestSpreadAsset and lowestSpreadAsset describe IV-minus-realised spread ordering, not fair value. Legacy richestAsset and cheapestAsset aliases are omitted; missing neutral fields are not inferred. Other stored observation fields retain their producer wording and values.","leadComparison":"currentSpread is selected asset A minus comparison asset B; previousSpread has the same orientation; changeSpread is currentSpread minus previousSpread. All retain their sign. The current level gap is abs(currentSpread), while daily-change dispersion is abs(changeA minus changeB). Gap change is abs(currentSpread) minus abs(previousSpread), distinct from daily-change dispersion.","pairedSkewRotation":"Both named 1W RR25 endpoints cross zero in opposite directions beyond 0.10 volatility points. current/previous are the signed first-asset-minus-second-asset spread; change is its rotation. This is distinct from unsigned level dispersion. Missing matching history remains null.","crossMetricJointEvent":"Complete aligned historical spot/ATM/RR25/BF25 vectors provide descriptive direction-pattern and simultaneous magnitude-exceedance episode counts. At least 20 eligible historical vectors are required. No joint rarity percentile is estimated; causality is not assessed.","jointComparisons":"Spot/ATM, ATM/RR25 and spot/ATM/RR25/BF25 comparisons each retain their own frozen complete-vector history, source receipt and descriptive counts. Their denominators are independent; marginal percentiles are not combined.","termStructureRegimeChange":"1M minus 1W ATM IV slope. Version 2 separates technical crossings from material changes requiring opposite endpoints beyond the provisional ±0.5 point deadband. A genuine crossing requires strictly opposite nonzero signs; an exactly zero endpoint is a zero touch. Historical rarity requires at least 20 compatible prior observations.","marketWideEvent":"Canonical seven-asset daily observation with aligned source receipts, spot breadth and compatible prior history. This is dated report context, not a current live market snapshot.","comparisons":"Leader and laggard are the highest and lowest signed values; spread is highest minus lowest, a non-negative cross-sectional range. Changes retain their sign.","termStructure":"1Y minus 1W ATM IV; slopeChange is current slope minus previous slope.","rankingOrder":"Stored producer order; previousRank and rankChange remain null when unavailable. Positive rankChange means moving up the ranking.","rankingBasis":{"oneWeekAtmIvLevel":"descending signed value","oneWeekAtmIvChange":"descending signed value","oneWeekAtmIvAbsoluteMove":"descending absolute magnitude; values retain their sign","ivMinusRealised7d":"descending signed value","oneWeekRr25CallRichness":"descending signed value","oneWeekRr25PutRichness":"ascending signed value","termStructureSlope":"descending signed value","termStructureSlopeChange":"descending absolute magnitude; values retain their sign","spotPerformance24h":"descending signed value"},"outliers":"Stored distanceFromMedian is signed value minus groupMedian; outlier selection uses absolute distance.","unavailable":"Null means unavailable, never zero; absent stored analysis is not reconstructed.","csv":"One scalar per row, with section, metric, asset and JSON pointer; value_type distinguishes null from empty string. Numeric serialization preserves stored precision."},"provenance":{"source":"Published report and its stored constituent observations","storedHeadline":"Altcoin options reprice higher as AVAX volatility breaks away","reportCorrection":null,"constituents":null,"methodology":{"source":"Stored Derivasys SVI surfaces","comparison":"Latest successful snapshot at or before the common cutoff versus the nearest successful snapshot 24 hours earlier, within a three-hour tolerance.","availability":"Current levels remain visible when a 24-hour baseline does not yet exist; changes stay null rather than being inferred from a shorter window."},"summaryMetrics":{"basis":"Equal-weight average across assets with a valid 24-hour baseline","unit":"volatility points","atmIvChange":2.06,"rr25Change":-1.01,"bf25Change":null},"originalBf25Basis":"unknown"},"leadSignal":{"status":"unavailable","declaredEvidence":null,"validatedDisplay":null,"comparativeEvidence":[{"id":"alts-cross-1w-atm-change-dispersion","metric":"1W ATM IV change dispersion","unit":"volatility points","leader":"AVAX","laggard":"HYPE","highest":11.51,"lowest":-1.8,"spread":13.31,"highestToLowestRatio":null,"largestAbsoluteMoveAsset":"AVAX","largestAbsoluteMoveValue":11.51,"values":[{"asset":"XRP","value":-1.74},{"asset":"HYPE","value":-1.8},{"asset":"AVAX","value":11.51},{"asset":"TRX","value":0.26}]},{"id":"alts-cross-1w-atm-level-dispersion","metric":"1W ATM IV level dispersion","unit":"volatility points","leader":"AVAX","laggard":"TRX","highest":66.51,"lowest":18.91,"spread":47.6,"highestToLowestRatio":3.5172,"largestAbsoluteMoveAsset":"AVAX","largestAbsoluteMoveValue":66.51,"values":[{"asset":"XRP","value":61.47},{"asset":"HYPE","value":65.26},{"asset":"AVAX","value":66.51},{"asset":"TRX","value":18.91}],"previousSpread":48.41,"spreadChange":-0.81,"dispersionDirection":"compressing"},{"id":"alts-cross-1w-rr25-dispersion","metric":"1W RR25 level dispersion","unit":"volatility points","leader":"AVAX","laggard":"TRX","highest":6.59,"lowest":-1.22,"spread":7.81,"highestToLowestRatio":null,"largestAbsoluteMoveAsset":"AVAX","largestAbsoluteMoveValue":6.59,"values":[{"asset":"XRP","value":1.23},{"asset":"HYPE","value":6.05},{"asset":"AVAX","value":6.59},{"asset":"TRX","value":-1.22}],"previousSpread":10.92,"spreadChange":-3.11,"dispersionDirection":"compressing"},{"id":"alts-cross-term-structure-divergence","metric":"1Y minus 1W ATM IV slope dispersion","unit":"volatility points","leader":null,"laggard":null,"highest":null,"lowest":null,"spread":null,"highestToLowestRatio":null,"largestAbsoluteMoveAsset":null,"largestAbsoluteMoveValue":null,"values":[{"asset":"XRP","value":null},{"asset":"HYPE","value":null},{"asset":"AVAX","value":null},{"asset":"TRX","value":null}],"previousSpread":null,"spreadChange":null,"dispersionDirection":"unavailable"},{"id":"alts-cross-iv-minus-realised-dispersion","metric":"1W IV minus 7D realised volatility dispersion","unit":"volatility points","leader":"TRX","laggard":"XRP","highest":5.75,"lowest":-16.9,"spread":22.65,"highestToLowestRatio":null,"largestAbsoluteMoveAsset":"XRP","largestAbsoluteMoveValue":-16.9,"values":[{"asset":"XRP","value":-16.9},{"asset":"HYPE","value":-10.06},{"asset":"AVAX","value":-6.53},{"asset":"TRX","value":5.75}]},{"id":"alts-cross-spot-performance","metric":"24H spot performance dispersion","unit":"percentage points","leader":"AVAX","laggard":"TRX","highest":19.95,"lowest":0.09,"spread":19.86,"highestToLowestRatio":221.6667,"largestAbsoluteMoveAsset":"AVAX","largestAbsoluteMoveValue":19.95,"values":[{"asset":"XRP","value":3.89},{"asset":"HYPE","value":2.71},{"asset":"AVAX","value":19.95},{"asset":"TRX","value":0.09}]},{"id":"alts-cross-term-structure-change","metric":"1Y minus 1W ATM IV slope change dispersion","unit":"volatility points","leader":null,"laggard":null,"highest":null,"lowest":null,"spread":null,"highestToLowestRatio":null,"largestAbsoluteMoveAsset":null,"largestAbsoluteMoveValue":null,"values":[{"asset":"XRP","value":null},{"asset":"HYPE","value":null},{"asset":"AVAX","value":null},{"asset":"TRX","value":null}]}],"candidateId":null,"historicalContext":null,"scoreComponents":null},"historicalContext":{"candidates":[],"unavailableReason":"No frozen candidate history was stored in this edition; legacy history is not reconstructed."},"analysisStatus":"available","marketWideEvent":null,"analysisUnavailableReason":null,"crossAssetAnalysis":{"schemaVersion":1,"purpose":"Identify what is unusual across the altcoin options complex, not produce four mini reports.","returnMetric":{"key":"spotPerformance24h","source":"spotMove24hPercent","label":"24h spot-index return","unit":"percent"},"assets":["XRP","HYPE","AVAX","TRX"],"comparableAssets":["XRP","HYPE","AVAX","TRX"],"oneWeek":{"atmIvLevel":{"leader":"AVAX","laggard":"TRX","highest":66.51,"lowest":18.91,"spread":47.6,"highestToLowestRatio":3.5172,"largestAbsoluteMoveAsset":"AVAX","largestAbsoluteMoveValue":66.51,"values":[{"asset":"XRP","value":61.47},{"asset":"HYPE","value":65.26},{"asset":"AVAX","value":66.51},{"asset":"TRX","value":18.91}],"previousSpread":48.41,"spreadChange":-0.81,"dispersionDirection":"compressing"},"atmIvChange":{"leader":"AVAX","laggard":"HYPE","highest":11.51,"lowest":-1.8,"spread":13.31,"highestToLowestRatio":null,"largestAbsoluteMoveAsset":"AVAX","largestAbsoluteMoveValue":11.51,"values":[{"asset":"XRP","value":-1.74},{"asset":"HYPE","value":-1.8},{"asset":"AVAX","value":11.51},{"asset":"TRX","value":0.26}]},"rr25Level":{"leader":"AVAX","laggard":"TRX","highest":6.59,"lowest":-1.22,"spread":7.81,"highestToLowestRatio":null,"largestAbsoluteMoveAsset":"AVAX","largestAbsoluteMoveValue":6.59,"values":[{"asset":"XRP","value":1.23},{"asset":"HYPE","value":6.05},{"asset":"AVAX","value":6.59},{"asset":"TRX","value":-1.22}],"previousSpread":10.92,"spreadChange":-3.11,"dispersionDirection":"compressing"},"rr25Change":{"leader":"AVAX","laggard":"HYPE","highest":5.04,"lowest":-4.98,"spread":10.02,"highestToLowestRatio":null,"largestAbsoluteMoveAsset":"AVAX","largestAbsoluteMoveValue":5.04,"values":[{"asset":"XRP","value":-2.76},{"asset":"HYPE","value":-4.98},{"asset":"AVAX","value":5.04},{"asset":"TRX","value":-1.33}]}},"relativeVolatilityLeader":{"asset":"AVAX","metric":"absolute 1W ATM IV change","value":11.51},"termStructure":{"definition":"1Y minus 1W ATM IV, in volatility points","currentSlope":{"leader":null,"laggard":null,"highest":null,"lowest":null,"spread":null,"highestToLowestRatio":null,"largestAbsoluteMoveAsset":null,"largestAbsoluteMoveValue":null,"values":[{"asset":"XRP","value":null},{"asset":"HYPE","value":null},{"asset":"AVAX","value":null},{"asset":"TRX","value":null}],"previousSpread":null,"spreadChange":null,"dispersionDirection":"unavailable"},"slopeChange":{"leader":null,"laggard":null,"highest":null,"lowest":null,"spread":null,"highestToLowestRatio":null,"largestAbsoluteMoveAsset":null,"largestAbsoluteMoveValue":null,"values":[{"asset":"XRP","value":null},{"asset":"HYPE","value":null},{"asset":"AVAX","value":null},{"asset":"TRX","value":null}]}},"relativeValue":{"ivMinusRealised7d":{"leader":"TRX","laggard":"XRP","highest":5.75,"lowest":-16.9,"spread":22.65,"highestToLowestRatio":null,"largestAbsoluteMoveAsset":"XRP","largestAbsoluteMoveValue":-16.9,"values":[{"asset":"XRP","value":-16.9},{"asset":"HYPE","value":-10.06},{"asset":"AVAX","value":-6.53},{"asset":"TRX","value":5.75}]},"spotPerformance24h":{"leader":"AVAX","laggard":"TRX","highest":19.95,"lowest":0.09,"spread":19.86,"highestToLowestRatio":221.6667,"largestAbsoluteMoveAsset":"AVAX","largestAbsoluteMoveValue":19.95,"values":[{"asset":"XRP","value":3.89},{"asset":"HYPE","value":2.71},{"asset":"AVAX","value":19.95},{"asset":"TRX","value":0.09}]}},"rankings":{"oneWeekAtmIvLevel":[{"rank":1,"asset":"AVAX","value":66.51,"previousRank":3,"rankChange":2},{"rank":2,"asset":"HYPE","value":65.26,"previousRank":1,"rankChange":-1},{"rank":3,"asset":"XRP","value":61.47,"previousRank":2,"rankChange":-1},{"rank":4,"asset":"TRX","value":18.91,"previousRank":4,"rankChange":0}],"oneWeekAtmIvChange":[{"rank":1,"asset":"AVAX","value":11.51,"previousRank":null,"rankChange":null},{"rank":2,"asset":"TRX","value":0.26,"previousRank":null,"rankChange":null},{"rank":3,"asset":"XRP","value":-1.74,"previousRank":null,"rankChange":null},{"rank":4,"asset":"HYPE","value":-1.8,"previousRank":null,"rankChange":null}],"oneWeekAtmIvAbsoluteMove":[{"rank":1,"asset":"AVAX","value":11.51,"previousRank":null,"rankChange":null},{"rank":2,"asset":"HYPE","value":-1.8,"previousRank":null,"rankChange":null},{"rank":3,"asset":"XRP","value":-1.74,"previousRank":null,"rankChange":null},{"rank":4,"asset":"TRX","value":0.26,"previousRank":null,"rankChange":null}],"ivMinusRealised7d":[{"rank":1,"asset":"TRX","value":5.75,"previousRank":null,"rankChange":null},{"rank":2,"asset":"AVAX","value":-6.53,"previousRank":null,"rankChange":null},{"rank":3,"asset":"HYPE","value":-10.06,"previousRank":null,"rankChange":null},{"rank":4,"asset":"XRP","value":-16.9,"previousRank":null,"rankChange":null}],"oneWeekRr25CallRichness":[{"rank":1,"asset":"AVAX","value":6.59,"previousRank":3,"rankChange":2},{"rank":2,"asset":"HYPE","value":6.05,"previousRank":1,"rankChange":-1},{"rank":3,"asset":"XRP","value":1.23,"previousRank":2,"rankChange":-1},{"rank":4,"asset":"TRX","value":-1.22,"previousRank":4,"rankChange":0}],"oneWeekRr25PutRichness":[{"rank":1,"asset":"TRX","value":-1.22,"previousRank":1,"rankChange":0},{"rank":2,"asset":"XRP","value":1.23,"previousRank":3,"rankChange":1},{"rank":3,"asset":"HYPE","value":6.05,"previousRank":4,"rankChange":1},{"rank":4,"asset":"AVAX","value":6.59,"previousRank":2,"rankChange":-2}],"termStructureSlope":[{"rank":null,"asset":"XRP","value":null,"previousRank":null,"rankChange":null},{"rank":null,"asset":"HYPE","value":null,"previousRank":null,"rankChange":null},{"rank":null,"asset":"AVAX","value":null,"previousRank":null,"rankChange":null},{"rank":null,"asset":"TRX","value":null,"previousRank":null,"rankChange":null}],"termStructureSlopeChange":[{"rank":null,"asset":"XRP","value":null,"previousRank":null,"rankChange":null},{"rank":null,"asset":"HYPE","value":null,"previousRank":null,"rankChange":null},{"rank":null,"asset":"AVAX","value":null,"previousRank":null,"rankChange":null},{"rank":null,"asset":"TRX","value":null,"previousRank":null,"rankChange":null}],"spotPerformance24h":[{"rank":1,"asset":"AVAX","value":19.95,"previousRank":null,"rankChange":null},{"rank":2,"asset":"XRP","value":3.89,"previousRank":null,"rankChange":null},{"rank":3,"asset":"HYPE","value":2.71,"previousRank":null,"rankChange":null},{"rank":4,"asset":"TRX","value":0.09,"previousRank":null,"rankChange":null}]},"outliers":[{"metric":"1W ATM IV change","asset":"AVAX","value":11.51,"groupMedian":-0.74,"distanceFromMedian":12.25},{"metric":"1W ATM IV level","asset":"TRX","value":18.91,"groupMedian":63.37,"distanceFromMedian":-44.45},{"metric":"1W RR25 level","asset":"TRX","value":-1.22,"groupMedian":3.64,"distanceFromMedian":-4.86},{"metric":"1W IV minus 7D realised volatility","asset":"TRX","value":5.75,"groupMedian":-8.29,"distanceFromMedian":14.04}],"relativeValueObservation":{"spread":22.65,"metric":"1W ATM IV minus 7D realised volatility","interpretation":"TRX screens richest and XRP cheapest on one-week implied volatility versus seven-day realised volatility, with a 22.65-point cross-sectional range."},"historicalContext":{"minimumObservations":20,"observations":21,"oneWeekAtmIvLevelDispersionPercentile":61.9,"oneWeekAtmIvChangeDispersionPercentile":100,"oneWeekRr25LevelDispersionPercentile":85.7,"termStructureDispersionPercentile":null,"ivMinusRealisedDispersionPercentile":null,"availabilityNote":null},"correlations":{"metric":"spotMove24hPercent","minimumObservations":10,"lookbackObservations":30,"pairs":[{"assets":["XRP","HYPE"],"value":null,"observations":9},{"assets":["XRP","AVAX"],"value":0.555,"observations":10},{"assets":["XRP","TRX"],"value":0.5652,"observations":10},{"assets":["HYPE","AVAX"],"value":null,"observations":9},{"assets":["HYPE","TRX"],"value":null,"observations":9},{"assets":["AVAX","TRX"],"value":0.0987,"observations":10}],"availabilityNote":"Pair correlations require 10 aligned prior reports."},"evidence":[{"id":"alts-cross-1w-atm-change-dispersion","metric":"1W ATM IV change dispersion","unit":"volatility points","leader":"AVAX","laggard":"HYPE","highest":11.51,"lowest":-1.8,"spread":13.31,"highestToLowestRatio":null,"largestAbsoluteMoveAsset":"AVAX","largestAbsoluteMoveValue":11.51,"values":[{"asset":"XRP","value":-1.74},{"asset":"HYPE","value":-1.8},{"asset":"AVAX","value":11.51},{"asset":"TRX","value":0.26}]},{"id":"alts-cross-1w-atm-level-dispersion","metric":"1W ATM IV level dispersion","unit":"volatility points","leader":"AVAX","laggard":"TRX","highest":66.51,"lowest":18.91,"spread":47.6,"highestToLowestRatio":3.5172,"largestAbsoluteMoveAsset":"AVAX","largestAbsoluteMoveValue":66.51,"values":[{"asset":"XRP","value":61.47},{"asset":"HYPE","value":65.26},{"asset":"AVAX","value":66.51},{"asset":"TRX","value":18.91}],"previousSpread":48.41,"spreadChange":-0.81,"dispersionDirection":"compressing"},{"id":"alts-cross-1w-rr25-dispersion","metric":"1W RR25 level dispersion","unit":"volatility points","leader":"AVAX","laggard":"TRX","highest":6.59,"lowest":-1.22,"spread":7.81,"highestToLowestRatio":null,"largestAbsoluteMoveAsset":"AVAX","largestAbsoluteMoveValue":6.59,"values":[{"asset":"XRP","value":1.23},{"asset":"HYPE","value":6.05},{"asset":"AVAX","value":6.59},{"asset":"TRX","value":-1.22}],"previousSpread":10.92,"spreadChange":-3.11,"dispersionDirection":"compressing"},{"id":"alts-cross-term-structure-divergence","metric":"1Y minus 1W ATM IV slope dispersion","unit":"volatility points","leader":null,"laggard":null,"highest":null,"lowest":null,"spread":null,"highestToLowestRatio":null,"largestAbsoluteMoveAsset":null,"largestAbsoluteMoveValue":null,"values":[{"asset":"XRP","value":null},{"asset":"HYPE","value":null},{"asset":"AVAX","value":null},{"asset":"TRX","value":null}],"previousSpread":null,"spreadChange":null,"dispersionDirection":"unavailable"},{"id":"alts-cross-iv-minus-realised-dispersion","metric":"1W IV minus 7D realised volatility dispersion","unit":"volatility points","leader":"TRX","laggard":"XRP","highest":5.75,"lowest":-16.9,"spread":22.65,"highestToLowestRatio":null,"largestAbsoluteMoveAsset":"XRP","largestAbsoluteMoveValue":-16.9,"values":[{"asset":"XRP","value":-16.9},{"asset":"HYPE","value":-10.06},{"asset":"AVAX","value":-6.53},{"asset":"TRX","value":5.75}]},{"id":"alts-cross-spot-performance","metric":"24H spot performance dispersion","unit":"percentage points","leader":"AVAX","laggard":"TRX","highest":19.95,"lowest":0.09,"spread":19.86,"highestToLowestRatio":221.6667,"largestAbsoluteMoveAsset":"AVAX","largestAbsoluteMoveValue":19.95,"values":[{"asset":"XRP","value":3.89},{"asset":"HYPE","value":2.71},{"asset":"AVAX","value":19.95},{"asset":"TRX","value":0.09}]},{"id":"alts-cross-term-structure-change","metric":"1Y minus 1W ATM IV slope change dispersion","unit":"volatility points","leader":null,"laggard":null,"highest":null,"lowest":null,"spread":null,"highestToLowestRatio":null,"largestAbsoluteMoveAsset":null,"largestAbsoluteMoveValue":null,"values":[{"asset":"XRP","value":null},{"asset":"HYPE","value":null},{"asset":"AVAX","value":null},{"asset":"TRX","value":null}]}]},"assets":[{"asset":"XRP","sourceData":{"page":"https://www.derivasys.com/data/xrp/2026-09-19","json":"https://www.derivasys.com/data/xrp/2026-09-19/data.json","csv":"https://www.derivasys.com/data/xrp/2026-09-19/data.csv"},"sourceSnapshot":{"status":"unknown","unavailableReason":"captured-source-snapshot-not-stored","capturedArtifact":null,"originalDatabase":{"status":"unknown","sha256":null,"revision":null}},"bf25Presentation":{"version":1,"kind":"derivedBf25Presentation","status":"unavailable","originalBasis":"unknown","unavailableReason":"invalid-or-missing-captured-source-snapshot","definition":{"version":"average-wing-minus-atm-v1","formula":"(iv25Call + iv25Put) / 2 - ivAtm","fullFlyFormula":"iv25Call + iv25Put - 2 * ivAtm","unit":"volatility points","conversionMethod":"verified-captured-explicit-bf25-else-decimal-full-fly-half-v1","rounding":"native six-place operands; four-place endpoints/change; two-place percent change","verification":"Exact capture hash, native builder/endpoints and rounded captured wing consistency; no raw-quote or SVI refit validation"},"lineage":null,"tenors":[],"derivationSha256":null},"sourceSelectionPolicy":null,"timestamps":{"currentSnapshotAt":"2026-09-19T16:59:00+00:00","previousSnapshotAt":"2026-09-18T16:59:00+00:00","referenceCutoffAt":null},"oneWeek":{"tenor":"1W","availability":"available","unavailableReason":null,"atmIv":{"current":61.47,"previous":63.21,"change":-1.74,"percentChange":-2.75},"rr25":{"current":1.23,"previous":3.99,"change":-2.76,"percentChange":-69.17},"bf25":{"current":null,"previous":null,"change":null,"percentChange":null},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"},"tenors":[{"tenor":"1W","availability":"available","unavailableReason":null,"atmIv":{"current":61.47,"previous":63.21,"change":-1.74,"percentChange":-2.75},"rr25":{"current":1.23,"previous":3.99,"change":-2.76,"percentChange":-69.17},"bf25":{"current":null,"previous":null,"change":null,"percentChange":null},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"},{"tenor":"2W","availability":"available","unavailableReason":null,"atmIv":{"current":59.74,"previous":61.13,"change":-1.39,"percentChange":-2.27},"rr25":{"current":2.13,"previous":4.33,"change":-2.2,"percentChange":-50.81},"bf25":{"current":null,"previous":null,"change":null,"percentChange":null},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"},{"tenor":"1M","availability":"available","unavailableReason":null,"atmIv":{"current":58.58,"previous":58.48,"change":0.1,"percentChange":0.17},"rr25":{"current":3.06,"previous":3.08,"change":-0.02,"percentChange":-0.65},"bf25":{"current":null,"previous":null,"change":null,"percentChange":null},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"},{"tenor":"3M","availability":"available","unavailableReason":null,"atmIv":{"current":57.02,"previous":56.47,"change":0.55,"percentChange":0.97},"rr25":{"current":2.08,"previous":2.27,"change":-0.19,"percentChange":-8.37},"bf25":{"current":null,"previous":null,"change":null,"percentChange":null},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"},{"tenor":"6M","availability":"unavailable","unavailableReason":"The target tenor is not bracketed by listed expiries; 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},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"},{"tenor":"9M","availability":"unavailable","unavailableReason":"The target tenor is not bracketed by listed expiries; 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},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"},{"tenor":"1Y","availability":"unavailable","unavailableReason":"The target tenor is not bracketed by listed expiries; 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},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"}],"realisedVolatility":{"source":"canonical/XRP-USDC-INDEX (DERIBIT and OKX indexes)","fallbackObservations":35,"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":"2026-09-19T16:59:00+00:00","spotWindowStart":"2026-09-18T16:59:00+00:00","spotMetric":"spot-index return","spotUnit":"percent","spotMove24hPercent":3.89,"rv24hPercent":74.39,"rv7dPercent":78.37,"rv30dPercent":94.38,"observations":{"24h":1440,"7d":10042,"30d":43162},"coverage":{"24h":{"status":"complete","observedReturns":1440,"expectedReturns":1440,"coveragePercent":100,"largestMissingRunMinutes":0,"unavailableReason":null},"7d":{"status":"partial","observedReturns":10042,"expectedReturns":10080,"coveragePercent":99.623,"largestMissingRunMinutes":37,"unavailableReason":null},"30d":{"status":"partial","observedReturns":43162,"expectedReturns":43200,"coveragePercent":99.912,"largestMissingRunMinutes":37,"unavailableReason":null}},"coveragePolicy":{"version":"observed-minute-returns-v1","minimumCoveragePercent":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":61.47,"oneWeekIvMinus7dRvPoints":-16.9,"oneWeekIvMinus24hRvPoints":-12.92,"oneWeekIvMinus30dRvPoints":-32.91},"dataQuality":{"coverage":{"24h":{"status":"complete","observedReturns":1440,"expectedReturns":1440,"coveragePercent":100,"largestMissingRunMinutes":0,"unavailableReason":null},"7d":{"status":"partial","observedReturns":10042,"expectedReturns":10080,"coveragePercent":99.623,"largestMissingRunMinutes":37,"unavailableReason":null},"30d":{"status":"partial","observedReturns":43162,"expectedReturns":43200,"coveragePercent":99.912,"largestMissingRunMinutes":37,"unavailableReason":null}},"coveragePolicy":{"version":"observed-minute-returns-v1","minimumCoveragePercent":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."},"realisedVolatilityUnavailableReason":null,"fitQuality":null,"freshness":null,"comparisonStatus":"available","comparisonNote":null,"rejectedPreviousSnapshotAt":null},"methodology":null,"nearestEligibleForward":{"label":"25SEP26","daysToExpiry":5.626,"forward":{"current":1.44,"previous":1.38,"change":0.06,"percentChange":4.35}}},{"asset":"HYPE","sourceData":{"page":"https://www.derivasys.com/data/hype/2026-09-19","json":"https://www.derivasys.com/data/hype/2026-09-19/data.json","csv":"https://www.derivasys.com/data/hype/2026-09-19/data.csv"},"sourceSnapshot":{"status":"unknown","unavailableReason":"captured-source-snapshot-not-stored","capturedArtifact":null,"originalDatabase":{"status":"unknown","sha256":null,"revision":null}},"bf25Presentation":{"version":1,"kind":"derivedBf25Presentation","status":"unavailable","originalBasis":"unknown","unavailableReason":"invalid-or-missing-captured-source-snapshot","definition":{"version":"average-wing-minus-atm-v1","formula":"(iv25Call + iv25Put) / 2 - ivAtm","fullFlyFormula":"iv25Call + iv25Put - 2 * ivAtm","unit":"volatility points","conversionMethod":"verified-captured-explicit-bf25-else-decimal-full-fly-half-v1","rounding":"native six-place operands; four-place endpoints/change; two-place percent change","verification":"Exact capture hash, native builder/endpoints and rounded captured wing consistency; no raw-quote or SVI refit validation"},"lineage":null,"tenors":[],"derivationSha256":null},"sourceSelectionPolicy":null,"timestamps":{"currentSnapshotAt":"2026-09-19T16:59:00+00:00","previousSnapshotAt":"2026-09-18T16:59:00+00:00","referenceCutoffAt":null},"oneWeek":{"tenor":"1W","availability":"available","unavailableReason":null,"atmIv":{"current":65.26,"previous":67.06,"change":-1.8,"percentChange":-2.68},"rr25":{"current":6.05,"previous":11.03,"change":-4.98,"percentChange":-45.15},"bf25":{"current":null,"previous":null,"change":null,"percentChange":null},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"},"tenors":[{"tenor":"1W","availability":"available","unavailableReason":null,"atmIv":{"current":65.26,"previous":67.06,"change":-1.8,"percentChange":-2.68},"rr25":{"current":6.05,"previous":11.03,"change":-4.98,"percentChange":-45.15},"bf25":{"current":null,"previous":null,"change":null,"percentChange":null},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"},{"tenor":"2W","availability":"available","unavailableReason":null,"atmIv":{"current":65.01,"previous":65.78,"change":-0.77,"percentChange":-1.17},"rr25":{"current":4.56,"previous":5.52,"change":-0.96,"percentChange":-17.39},"bf25":{"current":null,"previous":null,"change":null,"percentChange":null},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"},{"tenor":"1M","availability":"available","unavailableReason":null,"atmIv":{"current":63.66,"previous":63.98,"change":-0.32,"percentChange":-0.5},"rr25":{"current":3.65,"previous":5.09,"change":-1.44,"percentChange":-28.29},"bf25":{"current":null,"previous":null,"change":null,"percentChange":null},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"},{"tenor":"3M","availability":"available","unavailableReason":null,"atmIv":{"current":62.71,"previous":62.31,"change":0.4,"percentChange":0.64},"rr25":{"current":4.5,"previous":4.42,"change":0.08,"percentChange":1.81},"bf25":{"current":null,"previous":null,"change":null,"percentChange":null},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"},{"tenor":"6M","availability":"unavailable","unavailableReason":"The target tenor is not bracketed by listed expiries; 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},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"},{"tenor":"9M","availability":"unavailable","unavailableReason":"The target tenor is not bracketed by listed expiries; 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},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"},{"tenor":"1Y","availability":"unavailable","unavailableReason":"The target tenor is not bracketed by listed expiries; 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},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"}],"realisedVolatility":{"source":"canonical/HYPE-USDC-INDEX (DERIBIT and OKX indexes)","fallbackObservations":35,"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":"2026-09-19T16:59:00+00:00","spotWindowStart":"2026-09-18T16:59:00+00:00","spotMetric":"spot-index return","spotUnit":"percent","spotMove24hPercent":2.71,"rv24hPercent":67.94,"rv7dPercent":75.32,"rv30dPercent":86.22,"observations":{"24h":1440,"7d":10040,"30d":43160},"coverage":{"24h":{"status":"complete","observedReturns":1440,"expectedReturns":1440,"coveragePercent":100,"largestMissingRunMinutes":0,"unavailableReason":null},"7d":{"status":"partial","observedReturns":10040,"expectedReturns":10080,"coveragePercent":99.6032,"largestMissingRunMinutes":37,"unavailableReason":null},"30d":{"status":"partial","observedReturns":43160,"expectedReturns":43200,"coveragePercent":99.9074,"largestMissingRunMinutes":37,"unavailableReason":null}},"coveragePolicy":{"version":"observed-minute-returns-v1","minimumCoveragePercent":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":65.26,"oneWeekIvMinus7dRvPoints":-10.06,"oneWeekIvMinus24hRvPoints":-2.68,"oneWeekIvMinus30dRvPoints":-20.96},"dataQuality":{"coverage":{"24h":{"status":"complete","observedReturns":1440,"expectedReturns":1440,"coveragePercent":100,"largestMissingRunMinutes":0,"unavailableReason":null},"7d":{"status":"partial","observedReturns":10040,"expectedReturns":10080,"coveragePercent":99.6032,"largestMissingRunMinutes":37,"unavailableReason":null},"30d":{"status":"partial","observedReturns":43160,"expectedReturns":43200,"coveragePercent":99.9074,"largestMissingRunMinutes":37,"unavailableReason":null}},"coveragePolicy":{"version":"observed-minute-returns-v1","minimumCoveragePercent":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."},"realisedVolatilityUnavailableReason":null,"fitQuality":null,"freshness":null,"comparisonStatus":"available","comparisonNote":null,"rejectedPreviousSnapshotAt":null},"methodology":null,"nearestEligibleForward":{"label":"25SEP26","daysToExpiry":5.626,"forward":{"current":93.41,"previous":91.18,"change":2.23,"percentChange":2.45}}},{"asset":"AVAX","sourceData":{"page":"https://www.derivasys.com/data/avax/2026-09-19","json":"https://www.derivasys.com/data/avax/2026-09-19/data.json","csv":"https://www.derivasys.com/data/avax/2026-09-19/data.csv"},"sourceSnapshot":{"status":"unknown","unavailableReason":"captured-source-snapshot-not-stored","capturedArtifact":null,"originalDatabase":{"status":"unknown","sha256":null,"revision":null}},"bf25Presentation":{"version":1,"kind":"derivedBf25Presentation","status":"unavailable","originalBasis":"unknown","unavailableReason":"invalid-or-missing-captured-source-snapshot","definition":{"version":"average-wing-minus-atm-v1","formula":"(iv25Call + iv25Put) / 2 - ivAtm","fullFlyFormula":"iv25Call + iv25Put - 2 * ivAtm","unit":"volatility points","conversionMethod":"verified-captured-explicit-bf25-else-decimal-full-fly-half-v1","rounding":"native six-place operands; four-place endpoints/change; two-place percent change","verification":"Exact capture hash, native builder/endpoints and rounded captured wing consistency; no raw-quote or SVI refit validation"},"lineage":null,"tenors":[],"derivationSha256":null},"sourceSelectionPolicy":null,"timestamps":{"currentSnapshotAt":"2026-09-19T16:59:00+00:00","previousSnapshotAt":"2026-09-18T16:59:00+00:00","referenceCutoffAt":null},"oneWeek":{"tenor":"1W","availability":"available","unavailableReason":null,"atmIv":{"current":66.51,"previous":55,"change":11.51,"percentChange":20.93},"rr25":{"current":6.59,"previous":1.55,"change":5.04,"percentChange":325.16},"bf25":{"current":null,"previous":null,"change":null,"percentChange":null},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"},"tenors":[{"tenor":"1W","availability":"available","unavailableReason":null,"atmIv":{"current":66.51,"previous":55,"change":11.51,"percentChange":20.93},"rr25":{"current":6.59,"previous":1.55,"change":5.04,"percentChange":325.16},"bf25":{"current":null,"previous":null,"change":null,"percentChange":null},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"},{"tenor":"2W","availability":"available","unavailableReason":null,"atmIv":{"current":59.73,"previous":56.14,"change":3.59,"percentChange":6.39},"rr25":{"current":4.15,"previous":1.67,"change":2.48,"percentChange":148.5},"bf25":{"current":null,"previous":null,"change":null,"percentChange":null},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"},{"tenor":"1M","availability":"available","unavailableReason":null,"atmIv":{"current":57.87,"previous":56.13,"change":1.74,"percentChange":3.1},"rr25":{"current":2.94,"previous":2.01,"change":0.93,"percentChange":46.27},"bf25":{"current":null,"previous":null,"change":null,"percentChange":null},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"},{"tenor":"3M","availability":"available","unavailableReason":null,"atmIv":{"current":57.14,"previous":57.1,"change":0.04,"percentChange":0.07},"rr25":{"current":2.38,"previous":1.72,"change":0.66,"percentChange":38.37},"bf25":{"current":null,"previous":null,"change":null,"percentChange":null},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"},{"tenor":"6M","availability":"unavailable","unavailableReason":"The target tenor is not bracketed by listed expiries; 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},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"},{"tenor":"9M","availability":"unavailable","unavailableReason":"The target tenor is not bracketed by listed expiries; 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},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"},{"tenor":"1Y","availability":"unavailable","unavailableReason":"The target tenor is not bracketed by listed expiries; 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},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"}],"realisedVolatility":{"source":"canonical/AVAX-USDC-INDEX (DERIBIT and OKX indexes)","fallbackObservations":35,"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":"2026-09-19T16:59:00+00:00","spotWindowStart":"2026-09-18T16:59:00+00:00","spotMetric":"spot-index return","spotUnit":"percent","spotMove24hPercent":19.95,"rv24hPercent":125.1,"rv7dPercent":73.04,"rv30dPercent":71.18,"observations":{"24h":1440,"7d":10042,"30d":43162},"coverage":{"24h":{"status":"complete","observedReturns":1440,"expectedReturns":1440,"coveragePercent":100,"largestMissingRunMinutes":0,"unavailableReason":null},"7d":{"status":"partial","observedReturns":10042,"expectedReturns":10080,"coveragePercent":99.623,"largestMissingRunMinutes":37,"unavailableReason":null},"30d":{"status":"partial","observedReturns":43162,"expectedReturns":43200,"coveragePercent":99.912,"largestMissingRunMinutes":37,"unavailableReason":null}},"coveragePolicy":{"version":"observed-minute-returns-v1","minimumCoveragePercent":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":66.51,"oneWeekIvMinus7dRvPoints":-6.53,"oneWeekIvMinus24hRvPoints":-58.59,"oneWeekIvMinus30dRvPoints":-4.67},"dataQuality":{"coverage":{"24h":{"status":"complete","observedReturns":1440,"expectedReturns":1440,"coveragePercent":100,"largestMissingRunMinutes":0,"unavailableReason":null},"7d":{"status":"partial","observedReturns":10042,"expectedReturns":10080,"coveragePercent":99.623,"largestMissingRunMinutes":37,"unavailableReason":null},"30d":{"status":"partial","observedReturns":43162,"expectedReturns":43200,"coveragePercent":99.912,"largestMissingRunMinutes":37,"unavailableReason":null}},"coveragePolicy":{"version":"observed-minute-returns-v1","minimumCoveragePercent":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."},"realisedVolatilityUnavailableReason":null,"fitQuality":null,"freshness":null,"comparisonStatus":"available","comparisonNote":null,"rejectedPreviousSnapshotAt":null},"methodology":null,"nearestEligibleForward":{"label":"25SEP26","daysToExpiry":5.626,"forward":{"current":9.7,"previous":8.09,"change":1.61,"percentChange":19.9}}},{"asset":"TRX","sourceData":{"page":"https://www.derivasys.com/data/trx/2026-09-19","json":"https://www.derivasys.com/data/trx/2026-09-19/data.json","csv":"https://www.derivasys.com/data/trx/2026-09-19/data.csv"},"sourceSnapshot":{"status":"unknown","unavailableReason":"captured-source-snapshot-not-stored","capturedArtifact":null,"originalDatabase":{"status":"unknown","sha256":null,"revision":null}},"bf25Presentation":{"version":1,"kind":"derivedBf25Presentation","status":"unavailable","originalBasis":"unknown","unavailableReason":"invalid-or-missing-captured-source-snapshot","definition":{"version":"average-wing-minus-atm-v1","formula":"(iv25Call + iv25Put) / 2 - ivAtm","fullFlyFormula":"iv25Call + iv25Put - 2 * ivAtm","unit":"volatility points","conversionMethod":"verified-captured-explicit-bf25-else-decimal-full-fly-half-v1","rounding":"native six-place operands; four-place endpoints/change; two-place percent change","verification":"Exact capture hash, native builder/endpoints and rounded captured wing consistency; no raw-quote or SVI refit validation"},"lineage":null,"tenors":[],"derivationSha256":null},"sourceSelectionPolicy":null,"timestamps":{"currentSnapshotAt":"2026-09-19T16:59:00+00:00","previousSnapshotAt":"2026-09-18T16:59:00+00:00","referenceCutoffAt":null},"oneWeek":{"tenor":"1W","availability":"available","unavailableReason":null,"atmIv":{"current":18.91,"previous":18.65,"change":0.26,"percentChange":1.39},"rr25":{"current":-1.22,"previous":0.11,"change":-1.33,"percentChange":-1209.09},"bf25":{"current":null,"previous":null,"change":null,"percentChange":null},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"},"tenors":[{"tenor":"1W","availability":"available","unavailableReason":null,"atmIv":{"current":18.91,"previous":18.65,"change":0.26,"percentChange":1.39},"rr25":{"current":-1.22,"previous":0.11,"change":-1.33,"percentChange":-1209.09},"bf25":{"current":null,"previous":null,"change":null,"percentChange":null},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"},{"tenor":"2W","availability":"available","unavailableReason":null,"atmIv":{"current":19.45,"previous":19.39,"change":0.06,"percentChange":0.31},"rr25":{"current":-1.19,"previous":-0.67,"change":-0.52,"percentChange":-77.61},"bf25":{"current":null,"previous":null,"change":null,"percentChange":null},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"},{"tenor":"1M","availability":"available","unavailableReason":null,"atmIv":{"current":20.51,"previous":20.21,"change":0.3,"percentChange":1.48},"rr25":{"current":-0.15,"previous":0.24,"change":-0.39,"percentChange":-162.5},"bf25":{"current":null,"previous":null,"change":null,"percentChange":null},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"},{"tenor":"3M","availability":"available","unavailableReason":null,"atmIv":{"current":21.08,"previous":21.06,"change":0.02,"percentChange":0.09},"rr25":{"current":-0.52,"previous":-0.04,"change":-0.48,"percentChange":-1200},"bf25":{"current":null,"previous":null,"change":null,"percentChange":null},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"},{"tenor":"6M","availability":"unavailable","unavailableReason":"The target tenor is not bracketed by listed expiries; 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},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"},{"tenor":"9M","availability":"unavailable","unavailableReason":"The target tenor is not bracketed by listed expiries; 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},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"},{"tenor":"1Y","availability":"unavailable","unavailableReason":"The target tenor is not bracketed by listed expiries; 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},"fullFly25":{"current":null,"previous":null,"change":null,"percentChange":null},"bf25Status":"unavailable","bf25UnavailableReason":"invalid-or-missing-captured-source-snapshot"}],"realisedVolatility":{"source":"canonical/TRX-USDC-INDEX (DERIBIT and OKX indexes)","fallbackObservations":35,"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":"2026-09-19T16:59:00+00:00","spotWindowStart":"2026-09-18T16:59:00+00:00","spotMetric":"spot-index return","spotUnit":"percent","spotMove24hPercent":0.09,"rv24hPercent":12.07,"rv7dPercent":13.16,"rv30dPercent":17.85,"observations":{"24h":1440,"7d":10042,"30d":43162},"coverage":{"24h":{"status":"complete","observedReturns":1440,"expectedReturns":1440,"coveragePercent":100,"largestMissingRunMinutes":0,"unavailableReason":null},"7d":{"status":"partial","observedReturns":10042,"expectedReturns":10080,"coveragePercent":99.623,"largestMissingRunMinutes":37,"unavailableReason":null},"30d":{"status":"partial","observedReturns":43162,"expectedReturns":43200,"coveragePercent":99.912,"largestMissingRunMinutes":37,"unavailableReason":null}},"coveragePolicy":{"version":"observed-minute-returns-v1","minimumCoveragePercent":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":18.91,"oneWeekIvMinus7dRvPoints":5.75,"oneWeekIvMinus24hRvPoints":6.84,"oneWeekIvMinus30dRvPoints":1.06},"dataQuality":{"coverage":{"24h":{"status":"complete","observedReturns":1440,"expectedReturns":1440,"coveragePercent":100,"largestMissingRunMinutes":0,"unavailableReason":null},"7d":{"status":"partial","observedReturns":10042,"expectedReturns":10080,"coveragePercent":99.623,"largestMissingRunMinutes":37,"unavailableReason":null},"30d":{"status":"partial","observedReturns":43162,"expectedReturns":43200,"coveragePercent":99.912,"largestMissingRunMinutes":37,"unavailableReason":null}},"coveragePolicy":{"version":"observed-minute-returns-v1","minimumCoveragePercent":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."},"realisedVolatilityUnavailableReason":null,"fitQuality":null,"freshness":null,"comparisonStatus":"available","comparisonNote":null,"rejectedPreviousSnapshotAt":null},"methodology":null,"nearestEligibleForward":{"label":"25SEP26","daysToExpiry":5.626,"forward":{"current":0.34,"previous":0.34,"change":0,"percentChange":0}}}]}