Crypto Options Volatility Reports — September 2026
September 2026 crypto options volatility reports across BTC, ETH, SOL, Major Coins and Altcoins, with daily and weekly ATM implied volatility, RR25 skew, BF25 convexity and realised-volatility analysis. Every item links to its dated, permanent report and preserved methodology.
Historical daily observations
Find options levels from September 2026.
Compare published 1W ATM implied volatility, 1W RR25 and 7-day realised volatility by report date. Values are annualised percentages or volatility points as labelled; missing observations remain unavailable. Weekly editions are listed separately below.
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Latest BTC daily snapshot
Bitcoin options levels from 30 September 2026.
Stored BTC snapshot
Bitcoin BF25 increased by an average 0.25 volatility points across the six headline tenors, extending the convexity change beyond the focal expiry. The surface therefore recorded different directions for curvature and volatility near the underlying price.
Bitcoin's 24-hour spot-index return was positive at 1.30%. At the cutoff, Bitcoin one-week ATM IV stood 2.73 volatility points below seven-day realised volatility. That comparison uses realised volatility calculated from one-minute returns; it describes the current implied-versus-realised relationship rather than a measured daily change in the spread. Bitcoin one-year fixed-tenor observations remain unavailable, limiting conclusions about the full curve.
Ether one-week call-minus-put RR25 fell 2.63 volatility points to -2.30 volatility points over the daily observation window ending September 30, reversing from a call-rich reading, according to Derivasys data. The relative shift toward puts accompanied a decline in volatility implied by options near the underlying price: Ether one-week ATM IV fell 3.19 volatility points to 42.90%. The combination establishes a skew reversal alongside lower central implied volatility, without establishing an absolute increase in put volatility.
Solana one-week ATM IV fell 2.77 volatility points to 56.37% between the September 29 and September 30 observations, the largest standard-tenor ATM move in Derivasys data. The easing extended across the front end: Solana ATM IV averaged 55.96% across one-week, two-week and one-month tenors, down 2.09 volatility points. These readings describe lower volatility implied by options near the underlying price, with the focal move classified as routine.
At the September 30 cutoff, Derivasys data show Ether one-week ATM IV stood 1.22 volatility points above seven-day realised volatility, while Bitcoin's equivalent spread stood at -2.73 points and Solana's at -4.49 points. The Ether–Solana one-week implied-versus-realised range was 5.71 volatility points. This separates the majors on a common volatility comparison despite falling one-week ATM IV across all three; the spread readings are levels, without measured daily changes.
Derivasys data show the AVAX–TRX one-week call-minus-put RR25 gap widened by 2.33 volatility points to 10.11 points over the daily observation window ending September 30. AVAX one-week RR25 stood at 10.55 volatility points, while TRX one-week RR25 stood at 0.44 volatility points. Both remained call-rich, but TRX was close to neutral: the comparison separates the strength of relative call-side volatility rather than opposing call-rich and put-rich markets.
Bitcoin one-week call-minus-put RR25 rose 1.07 volatility points to -0.24 volatility points over the 24-hour observation window ending September 29, according to Derivasys data. The shift reduced relative put-side richness and brought the skew close to neutral, although puts still carried slightly higher implied volatility than comparable calls. RR25 compares call-side and put-side volatility; this movement describes their relative balance rather than an absolute change in either wing. The skew adjustment accompanied softer volatility implied by options near the underlying's current price.
Derivasys data show Ether one-week ATM IV fell 2.52 volatility points to 43.85% over the 24-hour observation window ending September 29. The broader front end also eased: Ether ATM IV across one-week, two-week and one-month options declined by an average 1.85 volatility points to 45.29%. ATM IV is the volatility implied by options near the underlying's current price.
Solana one-week call-minus-put RR25 rose 3.61 volatility points to +2.49 volatility points over the 24-hour observation window ending September 29, according to Derivasys data. The adjustment left call-side implied volatility above comparable put-side volatility. Solana's one-week RR25 move registered at the 86.7 percentile of comparable changes over the preceding month, marking a notable relative shift between the wings. This measures the balance of call and put volatility, without establishing investor demand, positioning or an absolute increase in call IV.
Ether one-week ATM IV fell 2.52 volatility points, compared with a 0.46-point decline in Solana one-week ATM IV, according to Derivasys data for the 24-hour window ending September 29. The difference between their daily changes was 2.06 volatility points. Bitcoin one-week ATM IV fell 1.32 points, placing its adjustment between those extremes. All three majors eased at this tenor, but Ether underwent the sharper repricing of volatility implied by options near the underlying price.
Derivasys data show AVAX one-week ATM IV rose 14.42 volatility points to 90.44% over the 24-hour observation window ending September 29, while HYPE one-week ATM IV fell 0.71 points to 61.54%. The AVAX–HYPE range in one-week ATM IV daily changes stood at 15.13 volatility points. This was a differentiated repricing across the complex: TRX one-week ATM IV rose 0.40 points, while XRP one-week ATM IV fell 0.30 points. ATM IV measures volatility implied by options near the underlying's current price.
its decline does not mean every Bitcoin implied-volatility measure fell. Bitcoin one-week at-the-money implied volatility, drawn from options near the underlying price, rose 2.78 points to 34.60%.
Derivasys data show Ether one-week RR25, the difference between call-side and put-side implied volatility, fell 1.96 volatility points to −2.02% over the daily observation window. That shift made the relative put side richer; it does not establish an absolute rise in put implied volatility. Ether one-week at-the-money implied volatility rose by 1.42 volatility points to 45.09%. The skew move was notable against comparable history, while the at-the-money move was routine.
Derivasys data show Solana one-week RR25 fell 4.08 volatility points to −0.14% over the daily observation window, moving from a call-rich reading to one close to neutral but slightly put-rich. RR25 is the difference between call-side and put-side implied volatility, so the fall marks a relative shift rather than proof that put implied volatility rose outright.
Derivasys data show Ether one-week at-the-money IV stood 1.48 volatility points above Ether seven-day realised volatility, while Solana one-week at-the-money IV stood 3.35 points below Solana seven-day realised volatility. The 4.83-point range between those implied-versus-realised readings was at the 79.2 percentile of available aligned history. This is a comparison of levels at the cutoff, not a measured daily widening. Bitcoin lay between the two, leaving the major-coin relative-value picture more differentiated than their common rise in one-week implied volatility suggests.
Derivasys data show AVAX one-week at-the-money implied volatility fell 6.16 volatility points to 76.03%, while TRX one-week at-the-money implied volatility rose 3.41 points to 18.33% over the daily observation window. The 9.57-point range between those changes sits at the 82.8 percentile of the available history. At-the-money implied volatility measures volatility implied by options near the underlying asset’s current price. AVAX still had the highest one-week implied-volatility level among the four altcoins, despite its sharp decline.
Derivasys data show Bitcoin one-week at-the-money implied volatility rose 2.06 volatility points to 32.76% over the observation window, concentrating the repricing in short-dated options. At-the-money IV is the volatility implied by options near Bitcoin’s current price. Bitcoin front-end ATM IV rose on average, while long-dated ATM IV edged down. The split matters because a rise in the short end alone gives a different reading from a parallel increase across maturities.
Derivasys data show Ether one-week at-the-money implied volatility rose 2.01 volatility points to 43.69% over the observation window. That is volatility implied by options near Ether’s current price. The increase was concentrated at shorter maturities: Ether front-end ATM IV rose on average, while its long-dated ATM IV was broadly unchanged. Ether’s 24-hour spot-index return was positive 0.31%, providing a measured price comparison alongside the options move without explaining it.
Derivasys data show Solana one-week at-the-money implied volatility at 56.12%, or 6.10 volatility points below its seven-day realised volatility, at the cutoff. That is a level comparison between volatility implied by options near Solana’s current price and volatility observed in one-minute returns. Solana one-week ATM IV nevertheless rose 1.99 volatility points over the observation window. The current implied-versus-realised shortfall should therefore be read alongside, rather than mistaken for, a measured daily change in that gap.
Derivasys data show one-week ATM implied volatility below seven-day realised volatility in Bitcoin, Ether and Solana at the cutoff. Solana had the largest shortfall, while Ether had the smallest, leaving a 3.32-volatility-point range in the implied-minus-realised comparison. This is a comparison of levels across the three assets, not a measured daily widening of that range. At-the-money implied volatility reflects options near each coin’s current price; realised volatility measures observed returns.
Derivasys data show the gap between AVAX and TRX one-week at-the-money implied-volatility levels widened by 2.89 volatility points to 63.13 points over the observation window. That measure compares volatility implied by options near each asset’s current price. AVAX had the highest one-week ATM IV level in the group, while TRX had the lowest. The widening makes the contrast between the two a sharper description of the altcoin options market than the group’s common rise in short-dated volatility.
Bitcoin options became more put-rich at the three-month tenor between 25 September, 18:31 UTC and 26 September, 18:31 UTC. Derivasys data show Bitcoin three-month RR25, the implied-volatility difference between comparable calls and puts, falling 0.33 volatility points to minus 1.05%. That is a relative shift toward puts, rather than evidence that put implied volatility rose outright. Bitcoin one-week ATM IV also increased, but its move was routine against its available history. The two changes point to a firmer front-end volatility level alongside a more defensive medium-term skew.
Ether’s short-dated options priced more volatility between 25 September, 18:31 UTC and 26 September, 18:31 UTC, even as its spot index moved only slightly. Derivasys data show Ether one-week ATM IV rising 1.66 volatility points to 40.91%, while Ether’s 24-hour spot-index return was minus 0.21%. The one-week implied-volatility increase was routine against the available comparison history. Longer-dated ATM IV edged lower, leaving the repricing concentrated near the front of the curve. One-week implied volatility remained above the volatility realised over the latest day, though a matching seven-day realised-volatility comparison was unavailable.
Solana’s one-week options lost wing premium between 25 September, 18:31 UTC and 26 September, 18:31 UTC. Solana one-week RR25 also fell sharply, shifting relative volatility toward puts while remaining call-rich. Both changes were notable against Solana’s short available history. The underlying one-week ATM IV level eased too, but the distinctive daily development lay in the shape of the options surface.
The one-week implied-volatility premium carried by Solana over Bitcoin narrowed between 25 September, 18:31 UTC and 26 September, 18:31 UTC. Derivasys data put the SOL–BTC one-week ATM IV gap at 23.19 volatility points, down 2.47 points from the prior cutoff, while Solana still had the highest one-week ATM IV among the three major coins. Ether led the daily increase in that metric and Solana declined, bringing their levels closer together. The cross-asset story is convergence in volatility pricing; separate skew readings show another narrowing gap.
AVAX and TRX still marked the extremes of altcoin one-week at-the-money implied volatility at the 26 September, 18:31 UTC cutoff, but their gap narrowed over the preceding day. Derivasys data put the AVAX–TRX one-week ATM IV spread at 60.15 volatility points, down 3.97 points, as AVAX one-week ATM IV fell and TRX one-week ATM IV rose. The comparison describes how far apart their current volatility levels sit; the narrowing is a separate daily change. Skew moved differently across the complex, leaving the options picture less uniform than the closing volatility gap alone suggests.
Bitcoin one-week ATM IV also fell 2.56 volatility points to 29.94%, while the 24-hour spot-index return was -0.56%. One-week RR25 rose 1.24 volatility points to -0.91 volatility points, meaning the relative skew shifted toward calls but remained put-rich.
Ether one-week ATM IV fell 6.11 volatility points to 38.75%, a large move at the 90th percentile of comparable recent observations. Derivasys data show front-end Ether ATM IV averaged 43.23%, down 3.78 volatility points, while long-dated Ether ATM IV averaged 53.88%, down 0.37 volatility points. The 24-hour Ether spot-index return was 0.19%; intraday realised-volatility comparisons were unavailable.
Solana two-week ATM IV fell 2.15 volatility points to 54.79%, while Solana two-week RR25 rose 1.29 volatility points to 4.45 volatility points, leaving calls richer than puts. The 24-hour Solana spot-index return was 3.00%; intraday realised-volatility comparisons were unavailable.
Major-coin one-week RR25 dispersion narrowed 0.71 volatility points to 7.64 volatility points between SOL and ETH, yet remained elevated at the 96.3 percentile of the available history. SOL one-week RR25 was 6.39%, call-rich, while ETH one-week RR25 was -1.25%, put-rich. Ether’s 6.11-volatility-point decline in one-week ATM IV made it the clear volatility-reset outlier.
Altcoin one-week ATM IV dispersion widened 2.95 volatility points to 64.19 points, its highest observed level in the available history. AVAX one-week ATM IV stood at 80.87%, while TRX one-week ATM IV stood at 16.68%. The spread shows a sharply differentiated options complex rather than a uniform altcoin-volatility move.
Bitcoin one-week ATM IV fell 2.10 volatility points to 31.70% over the observation window, while Derivasys data put front-end ATM IV at 33.00%, down 1.32 volatility points. One-week RR25 declined 0.86 volatility points to -2.60 volatility points, meaning put-side volatility became richer relative to call-side volatility even as the broad front end eased.
Derivasys data show one-week ATM IV fell 2.24 volatility points to 44.30% and front-end ATM IV averaged 46.50%, down 1.89 volatility points, placing the convexity decline within a broader reduction in near-term implied volatility.
Solana one-week RR25 rose 3.60 volatility points to 5.86 volatility points, making call-side volatility richer than put-side volatility at the cutoff. Derivasys data show the move was notable at the 82nd percentile of 27 comparable observations, while front-end ATM IV averaged 57.66%, up 0.39 volatility points, indicating a skew-led repricing rather than a broad volatility retreat.
Major-coin one-week skew separated sharply at the cutoff: SOL one-week RR25 stood at 5.86 volatility points, while BTC one-week RR25 was -2.60%, creating an 8.46-volatility-point spread that widened 4.46 volatility points. The contrast indicates markedly richer SOL call-side volatility and richer BTC put-side volatility, rather than a uniform directional signal across major-coin options.
Altcoin one-week ATM IV changes diverged markedly at the cutoff: XRP one-week ATM IV fell 13.89 volatility points to 71.21%, while HYPE one-week ATM IV rose 1.79 volatility points to 63.67%. The resulting 15.68-point change dispersion was the widest in the available history, leaving a sharply uneven front-end volatility complex.
Bitcoin one-week RR25 fell 3.05 volatility points to -1.89 volatility points, shifting relative volatility toward puts from a call-rich reading at the prior cutoff. Bitcoin one-week ATM IV fell 2.46 volatility points to 34.13%, while Bitcoin front-end ATM IV across one week to one month averaged 34.55%, down 1.97 points. The Bitcoin 26SEP26 forward price fell 2.53% to $84,426.48. One-minute realised-volatility comparisons were unavailable.
The rise contrasted with Ether one-week ATM IV, which fell 2.28 volatility points to 46.21%, while Ether front-end ATM IV across one week to one month averaged 48.02%, down 0.91 points. The Ether 26SEP26 forward price fell 3.38% to $2,670.31. One-minute realised-volatility comparisons were unavailable.
Solana one-week ATM IV fell 4.33 volatility points to 56.08%, the largest absolute one-week ATM IV move among the major coins in Derivasys data. Front-end ATM IV across one week to one month averaged 56.16%, down 2.51 points. Solana one-week RR25 fell 1.66 volatility points to 3.55 volatility points, but remained positive, meaning call-side volatility was still richer than put-side volatility. The nearest forward proxy, 2OCT26, fell 3.51% to $114.36. One-minute realised-volatility comparisons were unavailable, and long-dated fixed-tenor observations were unavailable.
Major-coin one-week RR25 dispersion widened by 0.78 volatility points to 5.44 points between Solana and Bitcoin. Solana one-week RR25 stood at 3.55 volatility points, leaving call-side volatility richer than put-side volatility, while Bitcoin one-week RR25 stood at -1.89 volatility points, leaving put-side volatility richer. One-week ATM IV levels remained highest for Solana at 56.08% and lowest for Bitcoin at 34.13%, although the Solana-Bitcoin one-week ATM IV level spread narrowed 1.87 points to 21.95 points.
Altcoin options diverged over the 24-hour window: XRP one-week ATM IV rose 5.52 volatility points to 84.05%, while HYPE one-week ATM IV fell 4.30 volatility points to 61.70%. The resulting 9.82-point dispersion in one-week ATM IV changes was pronounced in Derivasys data. AVAX retained the highest one-week ATM IV level at 84.92%, versus TRX at 22.06%, although that level spread compressed by 1.44 volatility points to 62.86 points. One-minute realised-volatility comparisons were unavailable across the complex.
Separately, Bitcoin one-week ATM IV fell 2.86 points to 36.50%, while Derivasys data showed the nearest eligible forward proxy, 25SEP26, up 0.80% to $86,678.24.
The fall reduced the premium in options away from the centre of the distribution. Ether one-week ATM IV also declined 3.02 points to 48.25%, while the nearest eligible forward proxy, 25SEP26, rose 0.20% to $2,757.46 in Derivasys data.
The combination left front-end ATM IV averaging 60.86%, up 1.09 points, even as the premium for one-week options away from the centre of the distribution contracted. Derivasys data showed the nearest eligible forward proxy, 25SEP26, up 0.74% to $118.22.
The major-coin one-week ATM IV gap between Solana and Bitcoin widened 4.09 volatility points to 27.32 volatility points over the observation window, reaching the 87.5 percentile of the available historical comparison set. ATM IV is the implied volatility of at-the-money options, a measure of the volatility priced into contracts near the prevailing price.
Derivasys data show Solana as the high end and Bitcoin as the low end of this one-week ATM IV comparison. One-week implied-versus-realised volatility data were unavailable for Bitcoin, Ether and Solana, and no qualifying news context was retained.
Altcoin one-week RR25 dispersion widened 5.09 volatility points to 8.91 points, as XRP’s one-week call-minus-put RR25 reached 9.91% while TRX’s stood at 1.00%. The widening marks a sharper separation in relative call-side volatility across the complex, even as the one-week ATM IV level gap between AVAX and TRX narrowed 0.24 points to 61.64 points.
Bitcoin one-week ATM IV rose 4.76 volatility points to 38.96% over the observation window, a large move at the 91.3 percentile of comparable history. The 24SEP26 Bitcoin forward-proxy price rose 5.80% to $85,954.72. Derivasys data also show the front-end ATM IV average rose faster than the long end, while three-month RR25 shifted toward calls but remained negative, leaving relative put-side volatility richer.
Ether one-month RR25 rose 1.22 volatility points to 2.03 volatility points over the observation window, making call-side volatility relatively richer than put-side volatility. Derivasys data show the one-week ATM IV increase was more routine: one-week ATM IV rose 2.65 volatility points to 51.27%. The 24SEP26 Ether forward-proxy price rose 4.36% to $2,750.27, while long-end ATM IV changed only modestly.
Solana one-week ATM IV rose 5.85 volatility points to 63.31% over the observation window, a notable repricing at the 75th percentile of comparable history. The 25SEP26 Solana forward-proxy price rose 6.72% to $117.38. Derivasys data show one-week RR25 rose 3.16 volatility points to 3.29 volatility points, making call-side volatility relatively richer, but unavailable long-dated tenors prevent a full curve reading.
Major-coin one-week ATM IV dispersion widened by 1.09 volatility points to 24.35 points, with Solana at 63.31% and Bitcoin at 38.96% at the cutoff. Derivasys data show Solana also posted the largest one-week ATM IV increase, 5.85 volatility points, while Ether’s 2.65-point increase was smallest. The one-week RR25 gap widened as Solana became more call-rich relative to Bitcoin.
Altcoin options retained an unusually broad range of one-week implied-volatility levels at the cutoff, even as the AVAX-to-TRX gap compressed by 3.66 volatility points to 62.46 points. Derivasys data show AVAX remained the richest one-week market at 81.01%, while TRX remained the cheapest at 18.55%. XRP supplied the sharpest one-week ATM IV increase, separating daily repricing from the still-wide level dispersion.
Bitcoin two-week RR25 fell 1.28 volatility points to -0.26 volatility points at the 16:30 UTC cutoff, moving from call-rich to put-rich pricing and marking a notable 80.5 percentile move in comparable history. Bitcoin two-week ATM IV simultaneously fell 0.85 points to 33.70%, while Bitcoin’s 24-hour spot-index return was -0.83%. Derivasys data show one-week ATM IV at 33.98%, 3.14 points below seven-day realised volatility of 37.12%.
Ether one-week RR25 fell 1.99 volatility points to 0.82 volatility points at the 16:30 UTC cutoff, sharply narrowing call-side volatility’s premium over put-side volatility without reversing it. Ether two-week ATM IV fell 0.56 points to 47.36%, and Ether’s 24-hour spot-index return was -1.03%. Derivasys data show Ether one-week ATM IV at 48.08%, 4.32 points below seven-day realised volatility of 52.40%.
Solana one-week ATM IV also rose 2.00 points to 55.38%, while front-end ATM IV averaged 54.21%, up 1.26 points. Solana’s 24-hour spot return was unavailable in the realised-volatility comparison.
Major-coin one-week ATM IV dispersion widened 2.30 volatility points to 21.40 points at the cutoff, with Solana one-week ATM IV at 55.38% and Bitcoin one-week ATM IV at 33.98%. Solana also posted the largest one-week ATM IV change, rising 2.00 points, while Bitcoin and Ether one-week ATM IV each edged lower. The widening relative-volatility gap ranked at the 81.8 percentile of the available history.
Altcoin one-week ATM IV dispersion widened 13.25 volatility points to 62.19 points, an observed high, as AVAX one-week ATM IV rose 10.37 points to 77.42% while TRX one-week ATM IV fell 2.88 points to 15.23%. The resulting gap makes the complex markedly less uniform, with AVAX retaining the highest implied-volatility level and TRX the lowest.
Bitcoin’s 24-hour spot-index return was 1.22%, and Bitcoin one-week ATM IV was 1.68 points below seven-day realised volatility at the cutoff. Derivasys data show the front end repriced more than longer maturities.
Ether one-week ATM IV rose 2.11 points to 48.21%, yet remained 2.89 points below Ether seven-day realised volatility at the cutoff. Ether’s 24-hour spot-index return was 2.04%, while long-dated ATM IV was unchanged.
Solana one-week ATM IV rose 2.72 volatility points to 53.62%, the largest standard-tenor volatility move in the surface. Solana two-week RR25 fell 2.00 volatility points to 2.64 volatility points, a relative rotation toward put volatility, although the positive reading still left calls richer than puts. Front-end ATM IV averaged 53.03% after a 1.52-point increase at the cutoff.
Solana one-week ATM IV stood at 53.62%, 18.99 volatility points above Bitcoin one-week ATM IV at 34.63%; the level spread widened 0.21 points. All three major-coin one-week ATM IV measures rose on the day, led by Solana’s 2.72-point increase versus Ether’s 2.11-point increase. The common repricing therefore left the relative-volatility hierarchy intact rather than closing the gap.
AVAX one-week ATM IV rose 11.51 volatility points to 66.51%, creating a 13.31-point dispersion against HYPE one-week ATM IV, which fell 1.80 volatility points to 65.26%. The split made AVAX the clear daily volatility outlier across the altcoin complex at the cutoff, while XRP one-week ATM IV also declined and TRX one-week ATM IV was little changed.
Bitcoin two-week RR25 rose 1.34 volatility points to 0.69 volatility points, reversing from a Bitcoin two-week RR25 reading of -0.65% and leaving calls richer than puts at the cutoff. Bitcoin’s two-week RR25 move was notable at the 82.3 percentile of comparable history. Bitcoin’s 24-hour spot-index return was 5.73%, while Bitcoin one-week ATM IV of 32.05% stood 3.54 volatility points below Bitcoin seven-day realised volatility of 35.59%, according to Derivasys data.
Ether two-week RR25 rose 3.29 volatility points to 2.48 volatility points, reversing from an Ether two-week RR25 reading of -0.81% and making calls richer than puts at the cutoff. Ether’s two-week RR25 move ranked at the 93.5 percentile of comparable history. Ether’s 24-hour spot-index return was 5.43%, while Ether one-week ATM IV of 46.19% was 3.99 volatility points below Ether seven-day realised volatility of 50.18%, according to Derivasys data.
Separately, Solana two-week RR25 rose 2.05 volatility points to 5.09 volatility points, leaving calls materially richer than puts. One-month ATM IV fell 2.13 volatility points to 52.69%, according to Derivasys data; realised-volatility comparisons were unavailable.
One-week ATM IV dispersion between Solana and Bitcoin narrowed 1.67 volatility points to 18.64 points at the cutoff. Solana’s one-week ATM IV was 50.69%, versus Bitcoin’s 32.05%, while Ether’s one-week ATM IV was 46.19%. The compression coincided with Bitcoin’s one-week ATM IV rising 2.46 volatility points, compared with a 0.79-point rise in Solana’s one-week ATM IV.
Altcoin one-week RR25 dispersion widened 5.94 volatility points to 11.68 points between HYPE and TRX at the cutoff. HYPE’s one-week RR25 was 11.31%, leaving calls markedly richer than puts, while TRX’s one-week RR25 was -0.37%, close to neutral but tilted toward puts. Derivasys data show a sharper split in relative skew even as the one-week ATM IV level gap narrowed.
Bitcoin one-week ATM IV fell 7.15 volatility points to 29.56% over the 24-hour observation window, a large reset in Derivasys data. Bitcoin spot-index return was positive 1.16% over the same 24 hours. At the cutoff, Bitcoin one-week ATM IV stood 7.20 volatility points below seven-day realised volatility of 36.76%, meaning the options-implied measure was below the completed trailing realised measure.
Ether one-week ATM IV fell 8.62 volatility points to 44.54% during the 24-hour observation window, the sharpest standard-tenor move in the Ether surface. Ether spot-index return gained 3.03% over the same 24 hours. At the cutoff, Ether one-week ATM IV was 9.40 volatility points below seven-day realised volatility of 53.94%;
Solana one-week ATM IV fell 4.27 volatility points to 50.11% over the 24-hour observation window, while Solana one-week RR25 rose 2.83 volatility points to 3.87 volatility points. The positive RR25 level means call volatility was richer than put volatility at that tenor. Front-end Solana ATM IV averaged 52.38%, down 1.89 volatility points; comparable long-dated fixed-tenor observations were unavailable.
Major-coin one-week ATM IV fell across Bitcoin, Ether and Solana, but the reset was uneven. Ether one-week ATM IV fell 8.62 volatility points to 44.54%, Bitcoin one-week ATM IV fell 7.15 volatility points to 29.56%, and Solana one-week ATM IV fell 4.27 volatility points to 50.11%. That left Solana’s one-week ATM IV 20.55 volatility points above Bitcoin’s, widening the level spread by 2.88 volatility points.
Altcoin one-week ATM IV fell across the complex, with HYPE one-week ATM IV dropping 5.57 volatility points to 65.33%, the largest decline. AVAX one-week ATM IV fell only 1.29 volatility points to 57.38%, leaving a 4.28-point range in daily changes. Despite that compression, HYPE’s one-week ATM IV remained 49.44 volatility points above TRX’s 15.89%. Derivasys data show a narrower but still unusually segmented front end.
Bitcoin one-week ATM IV fell 6.73 volatility points to 36.61% over the 24-hour observation window, a 95.2 percentile move in Derivasys history. Bitcoin’s 24-hour spot-index return was -0.87%, while one-week ATM IV remained 2.01 volatility points above seven-day realised volatility of 34.60%. The reset was concentrated at the front end, where ATM IV averaged 36.12%.
Ether one-week ATM IV fell 6.05 volatility points to 53.07% over the 24-hour observation window, an 86.2 percentile move in available Derivasys history. Ether’s 24-hour spot-index return was -1.07%, while one-week ATM IV stood 2.31 volatility points above seven-day realised volatility of 50.76%. Front-end ATM IV averaged 52.16%, showing the compression was concentrated in shorter maturities.
Solana one-week ATM IV fell 2.14 volatility points to 54.33% over the 24-hour observation window. Solana one-week RR25 rose 0.29 volatility points to 1.11 volatility points, leaving call volatility richer than put volatility at that tenor. Derivasys data show front-end ATM IV averaged 54.22%; realised-volatility comparisons were unavailable at the cutoff.
Major-coin one-week ATM IV fell across Bitcoin, Ether and Solana at the 16:30 UTC cutoff. Bitcoin one-week ATM IV fell 6.73 volatility points to 36.61%, Ether one-week ATM IV fell 6.05 volatility points to 53.07%, and Solana one-week ATM IV fell 2.14 volatility points to 54.33%. The common decline nevertheless widened relative volatility levels between Solana and Bitcoin to 17.72 volatility points.
Altcoin one-week ATM IV split sharply at the 16:30 UTC cutoff: XRP one-week ATM IV rose 5.34 volatility points to 66.98%, while AVAX one-week ATM IV fell 3.63 volatility points to 58.81%. The resulting 8.97-point spread in daily ATM IV changes marks a clear cross-sectional divergence in Derivasys data, rather than a uniform repricing across the complex.
Bitcoin one-month RR25 fell 1.71 volatility points to -2.10 volatility points, leaving put volatility richer than call volatility at the 21:01 UTC cutoff. The shift was large relative to its available history, while Bitcoin one-week ATM IV rose 1.20 volatility points to 39.43%. Bitcoin’s 24-hour spot-index return was -3.91%, and Bitcoin one-week ATM IV stood 4.40 volatility points above seven-day realised volatility. Derivasys data show a more defensive relative-volatility profile even as front-end implied volatility rose only modestly.
Ether one-week RR25 fell 4.48 volatility points to -1.59 volatility points, shifting the front-end smile from call-rich to put-rich relative volatility at the cutoff. Ether one-week ATM IV simultaneously fell 2.08 volatility points to 55.04%, so the move was a skew repricing rather than a broad rise in implied volatility. Ether’s 24-hour spot-index return was -6.17%, while Ether one-week ATM IV remained 4.33 volatility points above seven-day realised volatility. Derivasys data also show richer two-week convexity.
Solana’s near-expiry options smile rotated lower over the observation window, alongside a 4.81-volatility-point fall in Solana one-week RR25 to -0.20 volatility points. Solana one-week ATM IV fell 1.94 volatility points to 57.41%, and front-end ATM IV averaged 56.03%, down 1.27 volatility points. The combination indicates lower overall front-end implied volatility with a marked move toward relative put-side volatility. Realised-volatility comparisons were unavailable because the required minute-series completeness threshold was not met.
The one-week ATM IV dispersion between Solana and Bitcoin compressed by 3.14 volatility points to 17.98 volatility points. Solana one-week ATM IV remained highest at 57.41% and Bitcoin one-week ATM IV lowest at 39.43%, while Bitcoin one-week ATM IV rose 1.20 volatility points, Ether one-week ATM IV fell 2.08 volatility points, and Solana one-week ATM IV fell 1.94 volatility points. One-week RR25 dispersion among Bitcoin, Ether and Solana also narrowed by 2.64 volatility points to 1.39 volatility points, as all three assets shifted toward relative put-side volatility.
Altcoin one-week ATM IV dispersion widened to 51.67 volatility points, with HYPE one-week ATM IV at 70.88% and TRX one-week ATM IV at 19.21%. The gap widened by 3.92 volatility points as TRX one-week ATM IV fell 3.22 volatility points, while HYPE remained the complex’s highest-volatility asset. One-week RR25 dispersion, by contrast, compressed to 1.35 volatility points, bringing relative call-versus-put volatility closer together.
Bitcoin’s one-week RR25 increased 0.62 volatility points to -0.15 volatility points, leaving put-side volatility still richer than call-side volatility but materially less so than at the prior snapshot. At the same time, one-week ATM IV fell 1.50 points to 36.60%, while the 24-hour spot-index return was 1.84%.
Ether’s near-expiry option smile underwent its largest measured rotation at the 17SEP26 expiry, while fixed-tenor volatility changes remained modest. One-week RR25 rose 1.78 volatility points to 0.30 volatility points, placing call-side volatility above put-side volatility; one-week ATM IV added 0.64 points to 53.06%.
Solana one-week ATM IV rose 3.20 volatility points to 57.12%, the largest standard-tenor move on the surface. One-week RR25 also increased 1.21 points to 3.10 volatility points, indicating relatively richer call-side volatility. Front-end ATM IV averaged 55.61%, up 2.10 points from the prior snapshot.
One-week ATM IV dispersion across Bitcoin, Ether and Solana widened 4.70 volatility points to 20.52 points. Solana’s one-week at-the-money implied volatility stood at 57.12% after rising 3.20 volatility points, while Bitcoin’s one-week at-the-money implied volatility fell 1.50 volatility points to 36.60%; Ether’s one-week at-the-money implied volatility was 53.06%. The result is a sharper relative-volatility split across major-coin options.
Altcoin one-week ATM IV rose across the complex, but the adjustment was far from uniform: XRP increased 5.63 volatility points to 60.01%, versus a 1.44-point rise to 21.46% for TRX. That 4.19-point change range makes XRP the clear front-end leader, while HYPE retained the highest one-week ATM IV level at 68.65%.
Bitcoin one-week ATM IV rose 3.33 volatility points to 38.10% over the observation window, placing the short-dated volatility gauge at the 74.1 percentile of its available level history. The 24-hour spot-index return was -0.18%, while Bitcoin one-week ATM IV remained 6.96 points above seven-day realised volatility at the cutoff. DerivaSys data show the repricing concentrated at the front end: front-end ATM IV gained 2.12 points, versus a 0.11-point increase in the long-end average.
Ether one-week ATM IV rose 3.94 volatility points to 52.42% during the observation window, while the 24-hour spot-index return was -1.17%. At the cutoff, one-week ATM IV sat 7.23 points above seven-day realised volatility, signalling a higher implied reading than the recent realised measure. DerivaSys data also show downside relative volatility becoming richer: Ether two-week RR25 fell 0.45 points to -1.40 volatility points, meaning puts were richer than calls on that measure.
Solana one-week ATM IV rose 4.05 volatility points to 53.92% over the observation window, the largest standard-tenor rise on the surface. One-week RR25 fell 2.59 volatility points to 1.89 volatility points, a substantial shift toward puts in relative volatility while calls remained richer than puts at the cutoff. Front-end ATM IV averaged 53.51%, up 2.21 points. Realised-volatility comparisons were unavailable because the minute series did not meet the completeness requirement.
At the 16:30 UTC cutoff, Solana's one-week at-the-money implied-volatility reading was 53.92%, up 4.05 volatility points—the largest increase across the major-coin options markets. At-the-money implied volatility is the market's estimate of expected price movement centred on the prevailing price.
Ether's one-week at-the-money implied-volatility reading reached 52.42%, an increase of 3.94 volatility points, while Bitcoin's one-week at-the-money implied-volatility reading reached 38.10%, an increase of 3.33 volatility points. The Solana–Bitcoin one-week at-the-money implied-volatility change range was 0.72 volatility points. The Solana–Bitcoin one-week at-the-money implied-volatility level gap was 15.82 volatility points after widening by 0.72 volatility points.
Solana's one-week 25-delta risk reversal, which compares call and put implied volatility, fell 2.59 volatility points toward puts to 1.89%, while remaining call-rich. The Solana–Ether one-week 25-delta risk-reversal level gap narrowed by 2.28 volatility points to 3.37 volatility points. Derivasys data underpin these options-market observations.
At the 16:30 UTC cutoff, Derivasys data showed TRX one-week at-the-money implied volatility 4.82 volatility points above TRX seven-day realised volatility, while AVAX one-week at-the-money implied volatility was 1.96 points below AVAX seven-day realised volatility. The TRX-versus-AVAX one-week implied-versus-realised range was 6.78 volatility points.
AVAX one-week at-the-money implied volatility rose 3.21 volatility points to 58.69%, while TRX one-week at-the-money implied volatility fell 1.68 volatility points to 20.02%. Implied volatility reflects the market's pricing of expected movement; realised volatility measures movement already observed. Over the 24 hours to the cutoff, AVAX spot-index return was -0.62% and TRX spot-index return was 0.29%.
Bitcoin one-week RR25 fell 0.48 volatility points to -0.37 volatility points, shifting relative volatility toward puts and leaving puts richer than calls at the cutoff. Bitcoin’s 24-hour spot-index return was -0.37%, while one-week ATM IV of 34.76% remained 3.34 points above seven-day realised volatility, according to DerivaSys data.
Ether one-week RR25 dropped 3.76 volatility points to -1.16 volatility points, a notable shift toward relative put-side volatility at the 16:29 UTC cutoff. Ether’s 24-hour spot-index return was -1.26%, while one-week ATM IV of 48.48% sat 2.91 points above seven-day realised volatility, according to DerivaSys data.
Solana’s options surface rotated lower across strikes, while front-end ATM IV increased only 0.17 volatility points on average to 51.32%. The largest standard-tenor ATM IV change was a 0.64-point rise in two-week ATM IV to 51.38%; realised-volatility comparisons were unavailable at the cutoff.
Major-coin one-week ATM IV fell across Bitcoin, Ether and Solana, but the adjustment was uneven: Ether fell 3.12 volatility points, Bitcoin declined 1.58 points and Solana eased 0.45 points. That left a 2.67-point cross-asset dispersion in daily one-week ATM IV changes at the cutoff.
Altcoin one-week options show their clearest split in implied volatility versus realised volatility: TRX stands 6.35 volatility points above seven-day realised volatility, while AVAX stands 6.10 points below it. The 12.45-point range separates relative pricing across the complex, rather than recording a daily widening or narrowing.
Bitcoin one-week ATM IV fell 2.65 volatility points to 36.34% over the observation window, even as the 24-hour spot-index return was positive 1.00%. Derivasys data show the move was notable against comparable history. One-week implied volatility nevertheless remained 5.18 points above seven-day realised volatility, while 24-hour realised volatility was higher.
Ether one-week RR25 rose 2.90 volatility points to 2.60 volatility points, shifting relative volatility toward calls and leaving calls richer than puts at the cutoff. The move was notable against the available history. Ether’s 24-hour spot-index return was 5.17%, while one-week ATM IV of 51.60% stood 7.58 points above seven-day realised volatility.
Solana two-week RR25 rose 5.52 volatility points to 5.41 volatility points, a sharp shift in relative volatility toward calls. At the same cutoff, front-end ATM IV averaged 51.15%, down 1.46 points, and one-week ATM IV fell 2.80 points to 50.46%. Realised-volatility comparisons were unavailable because the minute series did not meet completeness requirements.
Major-coin one-week ATM IV changes split sharply at the cutoff: Ether rose 1.60 volatility points, Bitcoin fell 2.65 points and Solana fell 2.80 points. That produced a 4.40-point range between Ether and Solana. The divergence widened the difference in short-dated volatility levels, with Ether at 51.60% and Bitcoin at 36.34%.
At the cutoff, Derivasys data show TRX and AVAX one-week options at a 10.36-volatility-point implied-versus-realised range. TRX one-week ATM implied volatility was 5.59 volatility points above TRX seven-day realised volatility, while AVAX one-week ATM implied volatility was 4.77 volatility points below AVAX seven-day realised volatility. The comparison is a level at the cutoff, not a measured daily widening.
Bitcoin one-month RR25 fell 0.97 volatility points to minus 0.38% over the observation window, shifting the relative price of puts above calls. The move was notable at the 81.3 percentile of comparable full-history observations. At the same cutoff, one-week ATM IV was 38.99%, down 1.48 points, while the Bitcoin spot-index return over 24 hours was minus 2.30%. DerivaSys data show a lower volatility level alongside a more defensive skew.
Meanwhile, one-week RR25 dropped 2.96 points to minus 0.30%, placing relative put-side volatility above call-side volatility. One-week ATM IV finished at 50.00%, down 2.31 points, and Ether’s 24-hour spot-index return was minus 2.23%. DerivaSys data show convexity easing alongside a marked skew reversal.
Solana’s options surface rotated lower during the observation window as downside skew strengthened alongside softer front-end implied volatility. One-week ATM IV fell 1.70 volatility points to 52.96%, while two-week RR25 declined 1.98 points to minus 0.12%, leaving put-side volatility relatively richer than call-side volatility. Realised-volatility comparisons were unavailable because the required minute-series completeness threshold was not met.
Across the 24 hours ending 16:30 UTC on 10 September 2026, Ether’s one-week at-the-money implied volatility fell 2.31 volatility points to 50.00%, the largest move among the three markets. At-the-money implied volatility is an options-based measure of expected variability. Bitcoin’s one-week ATM IV fell 1.48 volatility points to 38.99%, while Solana’s one-week ATM IV fell 1.70 volatility points to 52.96%, according to Derivasys data.
The range between Solana’s one-week ATM IV and Bitcoin’s one-week ATM IV narrowed 0.22 volatility points to 13.97 volatility points. Bitcoin’s 24-hour spot-index return was -2.30%, Ether’s 24-hour spot-index return was -2.23%, and Solana’s 24-hour spot-index return was unavailable.
Altcoin options showed a pronounced one-week valuation split at the 16:30 UTC cutoff: TRX implied volatility stood 4.88 volatility points above seven-day realised volatility, while XRP sat 4.16 points below it. That 9.04-point gap leaves TRX relatively rich and XRP relatively cheap on this measure, according to DerivaSys data. The comparison is cross-sectional rather than a statement about a catalyst.
DerivaSys data showed front-end ATM IV averaging 39.36%, up 0.69 points; Bitcoin’s 24-hour spot-index return was 0.02%, and one-week implied volatility remained 7.40 points above seven-day realised volatility.
DerivaSys data put front-end ATM IV at 52.53%, up 1.74 points; Ether’s 24-hour spot-index return was 0.13%, and one-week implied volatility exceeded seven-day realised volatility by 9.23 points.
Solana’s 18SEP26 option smile rotated lower by 1.19 volatility points, the largest surface movement, while front-end ATM IV averaged 53.37%, down 0.59 points. The two-week ATM IV fell 0.79 points to 52.93%. DerivaSys data showed one-week RR25 moving 0.38 points toward puts to 0.90 volatility points, although calls remained relatively richer than puts. Realised-volatility comparisons were unavailable because the canonical minute series did not meet completeness requirements.
One-week ATM IV dispersion across Bitcoin, Ether and Solana narrowed 1.59 volatility points to 14.19 points, with Solana at 54.66% and Bitcoin at 40.47%. The convergence in levels obscured a divergent daily repricing: Ether’s one-week ATM IV rose 2.12 points while Solana’s fell 0.69 points. DerivaSys data therefore show less separation in prevailing volatility levels but a clear leader in the day’s volatility adjustment.
Altcoin options showed their clearest relative-value split in the one-week implied-versus-realised measure. TRX one-week ATM IV stood 7.72 volatility points above seven-day realised volatility, while XRP one-week ATM IV sat 7.74 points below its realised reading, leaving a 15.46-point range. DerivaSys data also showed XRP as the sole one-week volatility riser while HYPE posted the largest decline.
Bitcoin one-week RR25 rose 1.52 volatility points to 1.31 volatility points, leaving call-side volatility richer than put-side volatility after the 16:30 UTC cutoff. One-week ATM IV simultaneously rose 2.86 points to 39.57%, while Bitcoin spot fell 0.24% over 24 hours. DerivaSys data put one-week implied volatility 6.10 points above seven-day realised volatility.
Ether’s one-week ATM IV rose 2.35 volatility points to 50.19% over the observation window, lifting the cost of near-term options protection. Ether spot gained 0.78% over 24 hours, while Ether’s one-week ATM IV stood 6.27 volatility points above Ether’s seven-day realised volatility of 43.92%. Derivasys data show that longer-dated Ether ATM IV changed little by comparison.
Solana one-week ATM IV increased 2.45 volatility points to 55.35% during the observation window, while one-week RR25 rose 1.16 points to 1.28 volatility points, making call-side volatility richer than put-side volatility. The nearest eligible forward gained 0.27%. Limited surface history and unavailable realised-volatility comparisons constrain broader interpretation.
Ether led Bitcoin by 1.02 percentage points in 24-hour spot performance over the observation window: Ether spot gained 0.78%, while Bitcoin spot declined 0.24%. Derivasys data show that the gap coincided with narrower one-week options-market dispersion across the major coins.
Solana’s one-week ATM implied volatility was 55.35%, versus Bitcoin’s one-week ATM implied volatility of 39.57%, leaving the one-week ATM implied-volatility gap 0.41 volatility points narrower at 15.78 volatility points. Ether’s one-week RR25 level was 1.66%, while Solana’s one-week RR25 level was 1.28%, narrowing the one-week RR25 gap by 0.66 volatility points to 0.38 volatility points. Implied volatility is the market’s expectation of future price variability: Ether’s one-week ATM implied volatility exceeded Ether’s seven-day realised volatility by 6.27 volatility points, while Bitcoin’s corresponding one-week implied-versus-seven-day-realised spread was 6.10 volatility points. Solana realised-volatility comparisons were unavailable.
TRX’s one-week ATM IV rose 3.39 volatility points to 21.98% over the observation window. Derivasys data show TRX’s one-week ATM IV minus seven-day realised volatility at 7.19 volatility points, versus XRP’s equivalent measure at negative 8.97 points; the cross-sectional range was 16.16 volatility points.
HYPE’s one-week ATM IV was 64.57%, compared with TRX’s one-week ATM IV of 21.98%. The one-week ATM IV level gap between HYPE and TRX narrowed 4.61 volatility points to 42.59 volatility points.
Bitcoin’s one-week RR25 fell 1.38 volatility points to -0.22 volatility points, making put-side volatility richer than call-side volatility. The move ranked at the 78.7 percentile among comparable observations. One-week ATM IV stood 2.49 volatility points above seven-day realised volatility, even as the front end eased modestly.
Ether led the split in major-coin options, with a 2.54-volatility-point dispersion in one-week ATM IV changes between Ether and Solana. Solana’s one-week ATM IV stood 16.86 volatility points above Bitcoin’s.
Altcoin options are separating alongside an 8.49-percentage-point gap in 24-hour spot performance between AVAX and HYPE. AVAX’s one-week ATM IV rose 2.32 volatility points while XRP’s fell 2.82 points, leaving a 5.14-point change range. HYPE nevertheless retained the highest one-week implied-volatility level, and TRX the lowest.
Meanwhile, one-week ATM IV increased 2.36 points to 36.83% and the front-end average reached 37.24%, while longer-dated ATM IV was broadly unchanged. The result is a firmer near-term volatility surface alongside modestly richer six-month convexity.
Ether’s short-dated options surface moved higher, with one-week ATM IV rising 4.63 volatility points to 46.95%. One-week RR25 increased 1.79 points to 2.55 volatility points, meaning calls carried higher implied volatility than puts. Front-end ATM IV averaged 49.13%, while the long end was effectively unchanged, concentrating the adjustment in nearer expiries.
Solana’s near-dated options surface moved higher, with one-week ATM IV gaining 3.08 volatility points to 54.69%. One-week RR25 rose 1.56 points to 3.19 volatility points, placing call-side volatility above put-side volatility. Front-end ATM IV averaged 53.81%, and the nearest eligible forward rose 2.44%, while realised-volatility comparisons were unavailable.
Ether led the major coins’ one-week ATM IV increase, rising 4.63 volatility points against Bitcoin’s 2.36-point gain and Solana’s 3.08-point rise. Yet Solana remained the highest-volatility major at 54.69%, compared with Bitcoin at 36.83%. The relative move widened repricing dispersion without changing the established level ranking.
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.
Bitcoin one-week ATM IV rose 3.24 volatility points to 34.95%, a notable move at the 82.8 percentile of comparable history. The front end lifted more than longer maturities, while one-week RR25 moved toward call-side volatility. Bitcoin one-week implied volatility nevertheless remained 1.59 points below seven-day realised volatility.
Ether’s nearest-expiry smile rotation was the largest surface dislocation, accompanied by a 2.83-point rise in Ether one-week RR25 to 1.36 volatility points. Ether one-week ATM IV rose 1.78 volatility points to 43.37%, remaining 3.46 volatility points below Ether seven-day realised volatility.
Solana’s nearest-expiry smile rotation led the daily options-surface changes. Solana one-week ATM IV rose 1.90 volatility points to 50.62%, while Solana one-week, two-week and one-month ATM IV averaged 51.17% after a 1.35-point increase. Solana two-week RR25 moved 1.58 volatility points toward call-side volatility to 2.60 volatility points.
One-week RR25 dispersion across Bitcoin, Ether and Solana narrowed 3.02 volatility points to 0.89 volatility points. Solana’s one-week RR25 was 2.25%, while Ether’s one-week RR25 was 1.36%. One-week ATM IV levels spanned 15.67 volatility points between Solana and Bitcoin.
Ether one-week ATM IV declined as one-week RR25 moved into put-rich territory. The move was concentrated at the front end, while long-dated ATM IV was broadly unchanged.
Solana one-week implied volatility remained below seven-day realised volatility. The front end softened and two-week skew moved toward puts while remaining call-rich.
One-week ATM IV dispersion across BTC, ETH and SOL widened by 2.54 volatility points to 16.95 points. SOL held the highest one-week implied volatility at 48.96%, BTC the lowest at 32.01%, and ETH’s 5.20-point decline was the largest absolute daily move.
Altcoin one-week volatility pricing diverged, led by XRP’s compression while TRX remained richest relative to realised volatility. Relative value, rather than a uniform complex repricing, defined the session.
Bitcoin two-week RR25 rose 2.89 volatility points to 1.99 volatility points, moving call-side volatility above put-side volatility in a large 96.2 percentile move. The adjustment coincided with a 5.75-point rise in one-week ATM IV, while the 1Y-minus-1W ATM slope became less steep.
Ether one-week ATM IV increased 4.73 volatility points to 47.71%, a notable move at the 81.2 percentile. Ether front-end ATM IV across the one-week, two-week and one-month tenors rose 2.76 volatility points on average, while Ether long-end ATM IV across the six-month and one-year tenors rose 0.26 volatility points on average. The Ether one-year-minus-one-week ATM IV slope was 8.15 volatility points.
Solana two-week RR25 jumped 3.88 volatility points to 3.97 volatility points, an exceptional 100th percentile move that left call-side volatility richer than put-side volatility. Meanwhile, front-end ATM IV declined 1.19 points on average and one-week ATM IV fell 1.67 points to 51.89%.
Major-coin one-week implied volatility minus seven-day realised volatility spans 13.91 volatility points between ETH and SOL. Major-coin one-week ATM IV level dispersion narrowed by 7.42 volatility points to 14.87 volatility points between SOL and BTC.
AVAX screens richest and XRP cheapest on one-week implied volatility versus seven-day realised volatility. One-week ATM IV level dispersion across the altcoin complex has compressed, with HYPE highest and TRX lowest.
Bitcoin one-week implied volatility fell 2.33 volatility points to 31.03%, leaving it 4.04 volatility points below seven-day realised volatility. At the same tenor, relative put-side volatility increased: 1W RR25 fell 1.07 volatility points to -1.02 volatility points. The longer-dated curve remained higher than the front end as the 1Y-minus-1W ATM IV slope widened to 10.97 volatility points.
Ether one-week RR25 fell 1.81 volatility points to -2.00 volatility points, leaving one-week relative put-side volatility richer than one-week call-side volatility. Ether one-week ATM IV fell 1.17 volatility points to 43.30%, while Ether front-end ATM IV across the 1W, 2W and 1M tenors averaged 46.23%, a decline of 0.43 volatility points in Ether front-end ATM IV across the 1W, 2W and 1M tenors. Ether’s 1Y-minus-1W ATM IV slope rose to 12.53 volatility points.
Solana’s front-end options repriced sharply lower: one-week ATM IV fell 7.61 volatility points to 53.34%, 13.19 volatility points below seven-day realised volatility. The front-end average declined 7.09 volatility points, more than the 3.99-point decline at the long end.
Major-coin options saw a pronounced short-dated divergence: SOL one-week ATM IV fell 7.61 volatility points, versus a 1.17-point fall for ETH, creating a 6.44-point dispersion. SOL nonetheless retained the highest one-week ATM IV at 53.34%, 22.31 volatility points above BTC’s 31.03%. Ether carried the richest relative put-side volatility, with 1W RR25 at -2.00 volatility points.
Across the XRP, HYPE, AVAX and TRX options markets, the 1W ATM IV change range between AVAX and XRP was 6.29 volatility points. Across the XRP, HYPE, AVAX and TRX options markets, the 1W RR25 level spread between TRX and AVAX was 2.80 volatility points.
SOL 1W ATM IV fell 10.73 volatility points to 55.40%, an exceptional move at the 100th percentile. SOL front-end ATM IV fell 9.62 volatility points to 55.37%, while SOL long-dated ATM IV fell 3.93 volatility points to 54.88%. The 1Y-minus-1W ATM IV slope became less inverted by 7.02 volatility points to -0.54 volatility points.
SOL’s 1W ATM IV fell 10.73 volatility points, compared with a 0.78-point decline in ETH 1W ATM IV and a 0.81-point decline in BTC 1W ATM IV. That left 9.95 volatility points of 1W ATM IV change dispersion. The front-end convergence came with distinct skew and curve profiles.
The altcoin complex’s 1W ATM IV changes spanned 10.73 volatility points, from a 7.75-point decline in XRP to a 2.98-point increase in TRX. HYPE retained the highest 1W ATM IV level, while XRP held the most call-rich 1W RR25 level. The cross-section remains the story rather than a set of separate asset moves.
Bitcoin’s two-week options shifted from call-rich to put-rich over the weekly observation window ending on 26 September. Derivasys data show Bitcoin two-week RR25, the implied-volatility difference between comparable calls and puts, falling 3.12 volatility points to minus 1.14%. This was a large move against its recent comparison history. Bitcoin one-week ATM IV also fell 3.87 volatility points to 30.64%, placing the skew reversal alongside cheaper short-dated volatility. The relative put-side shift does not establish that put implied volatility rose outright. A valid seven-day intraday realised-volatility comparison was unavailable.
Derivasys data show XRP one-week ATM implied volatility rising 10.40 volatility points to 71.66% over the seven days ending 26 September, while Ether one-week ATM implied volatility fell 7.55 volatility points to 40.91%. Across the crypto options comparison, the range between XRP and Ether one-week ATM implied-volatility changes was 17.95 volatility points. That range compares their moves during the week; it is not a change from an earlier week's range.
Implied volatility describes the movement priced by options. Matching seven-day intraday realised-volatility comparisons were unavailable.
Bitcoin two-week RR25 rose 1.82 volatility points to 1.16 volatility points, rotating the tenor from put-rich to call-rich over the week. At the same cutoff, Bitcoin front-end ATM IV averaged 34.63%, down 0.27 points, and Bitcoin long-dated ATM IV averaged 38.34%, down 0.89 points. The result is a skew rotation toward relative call-side volatility alongside lower implied-volatility levels.
TRX one-week ATM IV exceeded TRX seven-day realised volatility by 5.75 points, while XRP one-week ATM IV trailed XRP seven-day realised volatility by 16.90 points. That 22.65-point implied-versus-realised range was the week’s clearest cross-asset relative-value divide. AVAX one-week ATM IV nevertheless posted the largest weekly increase, rising 11.06 points to 66.51%, showing that repricing and relative value did not move in lockstep.
Bitcoin’s two-week RR25 fell 1.87 volatility points to -0.50 volatility points during the week, leaving relative put-side volatility above call-side volatility. Front-end ATM IV averaged 34.87%, down 0.50 points, while long-dated ATM IV averaged 39.19%, down 0.98 points. The nearest eligible forward fell 3.10% over the comparison window.
Across the seven-market crypto options complex, TRX one-week ATM IV stood 6.35 volatility points above seven-day realised volatility, while AVAX stood 6.10 points below it. The resulting 12.45-point implied-versus-realised range was the week’s strongest relative-value contrast. ETH also posted the largest one-week ATM IV increase, up 6.79 points.
Bitcoin two-week RR25 rose 3.22 volatility points to 1.61 volatility points, shifting from put-rich to call-rich pricing and registering as a notable historical move. Front-end ATM IV increased 1.92 points over the week, while long-dated ATM IV was broadly unchanged. The two-week ATM IV rise was 2.54 points to 36.73%.
Solana’s one-week ATM IV fell 20.89 volatility points, while Bitcoin’s one-week ATM IV rose 1.76 volatility points. Seven-market one-week ATM IV changes spanned 22.65 volatility points. HYPE’s one-week ATM IV was 62.25%.
