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Daily altcoin options report · XRP, HYPE, AVAX and TRX

Altcoin options split as XRP–TRX one-week skew dispersion widens

One-week RR25 dispersion widened to 8.35 volatility points as XRP calls became relatively richer while TRX puts became relatively richer. The divide was accompanied by a 4.74-point range in one-week ATM IV changes, leaving AVAX higher and TRX lower, rather than signalling a uniform repricing across altcoins.

Generated · By Sean Gordon / Derivasys Research

Asset eligibility and coverage

The published headline is retained as written. Fit labels describe fit quality; they do not establish research eligibility.

Comparison and headline eligibility by asset
AssetFit acceptanceNative windowCommon cutoffHistoryHeadline
XRPFit acceptance not recordedUnknown — native-window eligibility not recorded or verifiedIncluded in shared endpoint cohort (current 06 Sept 2026, 16:59 UTC; previous 05 Sept 2026, 16:59 UTC)Unknown — history eligibility not recordedUnavailable — eligibility receipt not recorded
HYPEFit acceptance not recordedUnknown — native-window eligibility not recorded or verifiedIncluded in shared endpoint cohort (current 06 Sept 2026, 16:59 UTC; previous 05 Sept 2026, 16:59 UTC)Unknown — history eligibility not recordedUnavailable — eligibility receipt not recorded
AVAXFit acceptance not recordedUnknown — native-window eligibility not recorded or verifiedIncluded in shared endpoint cohort (current 06 Sept 2026, 16:59 UTC; previous 05 Sept 2026, 16:59 UTC)Unknown — history eligibility not recordedUnavailable — eligibility receipt not recorded
TRXFit acceptance not recordedUnknown — native-window eligibility not recorded or verifiedIncluded in shared endpoint cohort (current 06 Sept 2026, 16:59 UTC; previous 05 Sept 2026, 16:59 UTC)Unknown — history eligibility not recordedUnavailable — eligibility receipt not recorded
Snapshot data and comparison

Snapshot · 6 Sept 2026, 16:59 UTC

Generated timestamp:

  • XRPSpot-index 24h Unavailable1W ATM IV 56.58%1W RR25 +3.90 vol pts1W BF25 +2.86 vol pts1W IV − 7D RV Unavailable
  • HYPESpot-index 24h Unavailable1W ATM IV 65.90%1W RR25 +3.66 vol pts1W BF25 +4.30 vol pts1W IV − 7D RV Unavailable
  • AVAXSpot-index 24h Unavailable1W ATM IV 56.32%1W RR25 +2.30 vol pts1W BF25 +4.28 vol pts1W IV − 7D RV Unavailable
  • TRXSpot-index 24h Unavailable1W ATM IV 20.36%1W RR25 -4.45 vol pts1W BF25 +2.25 vol pts1W IV − 7D RV Unavailable

Market context · daily observation window

Market context

AVAX spot-index return unavailable; 1W ATM IV rose 3.19 volatility points to 56.32% over the daily window. RR25 moved toward puts (-0.31 points); BF25 wing premium decreased (-0.21 points); 1/4 assets had lower 1W ATM IV; partial native coverage (12/16 measurements).

Previous report, watch levels and methodology

One-week surface context; the published headline retains its original evidence basis. Cutoffs 5 Sept, 16:59 UTC to 6 Sept, 16:59 UTC.

Measured change since prior report

Prior comparison unavailable: the exact adjacent published edition could not be verified.

A structured watchlist was not recorded or could not be verified in the prior edition; prior-watch outcomes remain unavailable.

Next daily cutoff: measurable checks

These checks are reconstructed from this edition’s stored endpoints; they were not recorded in the original report.

  • Hold the observed level: AVAX 1W ATM IV ≥ 56.32 percent at . Current level 56.32; threshold is the current observed endpoint.
  • Full retrace: AVAX 1W ATM IV ≤ 53.13 percent at . Current level 56.32; threshold is the previous observed endpoint.
Measurement basis and receipt

These are observed-level conditions for the next aligned cutoff, with no forecast or trade action. Spot uses exact index endpoints where available; ATM IV is quoted in percent and its change, RR25 and BF25 in volatility points. Derived from verified legacy artifact endpoints.

Canonical current report JSON · SHA-256 ee86e900dd090bc3ed91235b5a590406b260ef8c6e1556ce55027260684f1dc0

Consumed endpoint proof: f874ca03de6f8f3bdb4d8dbad87660343d9208c3db5fb34821eb89b7774d18bf

  • AVAX:atmIv:1W:observed-current-level: rows[asset=AVAX].report.tenors[tenor=1W].atmIv.previous; rows[asset=AVAX].report.tenors[tenor=1W].atmIv.current; rows[asset=AVAX].report.tenors[tenor=1W].atmIv.change; evaluation window 2026-09-06T16:59:00+00:00 to 2026-09-07T16:59:00+00:00.
  • AVAX:atmIv:1W:observed-previous-level: rows[asset=AVAX].report.tenors[tenor=1W].atmIv.previous; rows[asset=AVAX].report.tenors[tenor=1W].atmIv.current; rows[asset=AVAX].report.tenors[tenor=1W].atmIv.change; evaluation window 2026-09-06T16:59:00+00:00 to 2026-09-07T16:59:00+00:00.

01 · Market read

What is unusual across the altcoin options complex.

The altcoin complex developed a pronounced one-week skew split, with XRP at 3.90 RR25 and TRX at -4.45 RR25.

Cross-sectional observations

One-week ATM IV level dispersion: Widening: absolute level gap 45.54 vol points; absolute gap change +2.54 vol points. Stored one-week tenor comparison at this cutoff across 4 assets.

Daily one-week ATM IV-change dispersion: The cross-asset spread is 4.74 vol points. Stored daily changes across 4 assets.

TRX stands apart: 1W ATM IV change is 2.95 vol points below the group median. Stored cross-section of 4 assets at this report cutoff.

Daily 1W ATM IV moves ranged from -1.55 points to +3.19 points. HYPE had the highest absolute 1W IV at 65.90%.

XRP had the highest 1W RR25 at +3.90 points, call-rich; TRX had the lowest at -4.45 points, put-rich.

One-week ATM IV level dispersion is widening, at 45.54 vol pts.

This is a comparison of separate fitted surfaces, not a pooled altcoin index; unavailable history is not converted into a zero move.

02 · Relative-value rankings

Leaders, laggards and rank changes.

Metric1st2nd3rd4th
1W ATM IV levelHYPE · 65.90XRP · 56.58AVAX · 56.32TRX · 20.36
Daily 1W ATM IV changeAVAX · 3.19XRP · 1.80HYPE · 0.99TRX · -1.55
Highest 1W RR25XRP · 3.90 · up 3HYPE · 3.66AVAX · 2.30TRX · -4.45 · down 3
Lowest 1W RR25TRX · -4.45 · up 3AVAX · 2.30HYPE · 3.66XRP · 3.90 · down 3
24h forward-proxy returnTRX · 3.03HYPE · 2.04AVAX · 0.92XRP · -0.70
TRX

1W ATM IV change

-2.95 points from the group median

TRX

1W ATM IV level

-36.09 points from the group median

TRX

1W RR25 level

-7.43 points from the group median

03 · Altcoin scorecard

Current one-week volatility, realised value and skew.

AssetSpot 24hForward proxy1W ATM1W ATM Δ7d RV1W IV − 7d RVIV/RV ratioSpread percentile1W RR25Fit evidenceNative fit timeStatus
XRPUnavailable$1.4156.58%+1.80 vol ptsUnavailableUnavailableUnavailableUnavailable+3.90 vol ptsAccepted fit · 7 expiriesNative fit: 06 Sept 2026, 16:59 UTC (at cutoff)24h comparable
HYPEUnavailable$87.9365.90%+0.99 vol ptsUnavailableUnavailableUnavailableUnavailable+3.66 vol ptsAccepted fit · 7 expiriesNative fit: 06 Sept 2026, 16:59 UTC (at cutoff)24h comparable
AVAXUnavailable$7.6456.32%+3.19 vol ptsUnavailableUnavailableUnavailableUnavailable+2.30 vol ptsAccepted fit · 7 expiriesNative fit: 06 Sept 2026, 16:59 UTC (at cutoff)24h comparable
TRXUnavailable$0.3420.36%-1.55 vol ptsUnavailableUnavailableUnavailableUnavailable-4.45 vol ptsAccepted fit · 7 expiriesNative fit: 06 Sept 2026, 16:59 UTC (at cutoff)24h comparable

04 · Term structures

ATM implied volatility across standard tenors.

Asset1W ATM / Δ1M ATM / Δ3M ATM / Δ
XRP56.58% / +1.8055.38% / -0.4055.40% / +0.21
HYPE65.90% / +0.9966.70% / +1.1664.74% / +0.14
AVAX56.32% / +3.1955.56% / -0.0754.78% / -0.21
TRX20.36% / -1.5517.30% / -0.1218.13% / -0.48

05 · Catalyst check

News context unavailable.

News context unavailable because source coverage was incomplete.

Evidence, source data and methodology

Altcoins report data

Download the report’s stored cross-asset comparisons, rankings, declared lead evidence and per-asset quality information. Missing analysis remains unavailable.

Download report JSON · Download report CSV

Original report summary

One-week RR25 dispersion widened to 8.35 volatility points as XRP calls became relatively richer while TRX puts became relatively richer. The divide was accompanied by a 4.74-point range in one-week ATM IV changes, leaving AVAX higher and TRX lower, rather than signalling a uniform repricing across altcoins.

At report cutoff · Levels and stored endpoint changes

What matters now

Vol: XRP 1W ATM IV 56.58% · Δ +1.80 vol pts; HYPE 1W ATM IV 65.90% · Δ +0.99 vol pts; AVAX 1W ATM IV 56.32% · Δ +3.19 vol pts; TRX 1W ATM IV 20.36% · Δ -1.55 vol pts

Skew: XRP 1W RR25 3.90 vol pts · Δ +2.36 vol pts; HYPE 1W RR25 3.66 vol pts · Δ +0.62 vol pts; AVAX 1W RR25 2.30 vol pts · Δ -0.31 vol pts; TRX 1W RR25 -4.45 vol pts · Δ -7.62 vol pts

IV change dispersion: 1W ATM IV daily-change dispersion 4.74 vol pts (AVAX Δ +3.19 versus TRX Δ -1.55 vol pts)

Vol

XRP 1W ATM IV 56.58% · Δ +1.80 vol pts

HYPE 1W ATM IV 65.90% · Δ +0.99 vol pts

AVAX 1W ATM IV 56.32% · Δ +3.19 vol pts

TRX 1W ATM IV 20.36% · Δ -1.55 vol pts

Skew

XRP 1W RR25 3.90 vol pts · Δ +2.36 vol pts

HYPE 1W RR25 3.66 vol pts · Δ +0.62 vol pts

AVAX 1W RR25 2.30 vol pts · Δ -0.31 vol pts

TRX 1W RR25 -4.45 vol pts · Δ -7.62 vol pts

Wings

XRP 1W BF25 2.86 vol pts · Δ +0.32 vol pts

HYPE 1W BF25 4.30 vol pts · Δ +0.56 vol pts

AVAX 1W BF25 4.28 vol pts · Δ -0.21 vol pts

TRX 1W BF25 2.25 vol pts · Δ +0.32 vol pts

IV versus RV

XRP Unavailable

HYPE Unavailable

AVAX Unavailable

TRX Unavailable

Unavailable readings: XRP IV versus RV; HYPE IV versus RV; AVAX IV versus RV; TRX IV versus RV. See the report’s data availability notes.

Δ compares the report’s stored surface endpoints. IV versus RV is a level comparison, not a daily change.

Component cutoffs: XRP 6 Sept 2026, 16:59 UTC; HYPE 6 Sept 2026, 16:59 UTC; AVAX 6 Sept 2026, 16:59 UTC; TRX 6 Sept 2026, 16:59 UTC. Each asset is shown separately.

7D realised volatility · data quality

AssetRecorded RVStatusCoverage / requiredLongest gap / maximum
XRPUnavailableUnavailablenot recorded / not recorded requirednot recorded / not recorded maximum
HYPEUnavailableUnavailablenot recorded / not recorded requirednot recorded / not recorded maximum
AVAXUnavailableUnavailablenot recorded / not recorded requirednot recorded / not recorded maximum
TRXUnavailableUnavailablenot recorded / not recorded requirednot recorded / not recorded maximum

Thresholds are asset-specific policies recorded in this edition. Each window is assessed independently; returns spanning gaps are excluded. Partial estimates may miss volatility during gaps.

RV coverage and methodology

XRP · Unavailable · Surface cutoff 06 Sept 2026, 16:59:00 UTC · 7D coverage not recorded / not recorded required · largest 7D gap not recorded / not recorded maximum · maximum gap not recorded. RV suppressed — valid 7D coverage was not recorded. Canonical XRP index coverage for 7d is incomplete: expected 10080 returns, found 10045 Full 7D coverage policy was not recorded.

HYPE · Unavailable · Surface cutoff 06 Sept 2026, 16:59:00 UTC · 7D coverage not recorded / not recorded required · largest 7D gap not recorded / not recorded maximum · maximum gap not recorded. RV suppressed — valid 7D coverage was not recorded. Canonical HYPE index coverage for 7d is incomplete: expected 10080 returns, found 10045 Full 7D coverage policy was not recorded.

AVAX · Unavailable · Surface cutoff 06 Sept 2026, 16:59:00 UTC · 7D coverage not recorded / not recorded required · largest 7D gap not recorded / not recorded maximum · maximum gap not recorded. RV suppressed — valid 7D coverage was not recorded. Canonical AVAX index coverage for 7d is incomplete: expected 10080 returns, found 10045 Full 7D coverage policy was not recorded.

TRX · Unavailable · Surface cutoff 06 Sept 2026, 16:59:00 UTC · 7D coverage not recorded / not recorded required · largest 7D gap not recorded / not recorded maximum · maximum gap not recorded. RV suppressed — valid 7D coverage was not recorded. Canonical TRX index coverage for 7d is incomplete: expected 10080 returns, found 10045 Full 7D coverage policy was not recorded.

Source data JSON

06 · Methodology and provenance

An availability-aware daily comparison.

Latest successful snapshot at or before the common cutoff versus the nearest successful snapshot 24 hours earlier, within a three-hour tolerance.

Current levels remain visible when a 24-hour baseline does not yet exist; changes stay null rather than being inferred from a shorter window.

Realised volatility uses the canonical minute index for each asset. Spot returns and rankings use the same stored 24-hour index return; missing index returns remain unavailable. Forward levels and any legacy forward-return rankings are labelled separately.

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