Permanent monthly research archive
October 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.
Latest BTC daily snapshot
The adjustment varied across tenors: Bitcoin 2W ATM IV fell 0.32 volatility points to 32.23%, while 1M ATM IV rose 0.22 volatility points to 34.61%, against the same prior cutoff. Separately, Bitcoin 1W RR25 shifted 0.61 volatility points toward calls to 0.22 volatility points. Bitcoin 1M BF25 eased 0.07 volatility points to 2.14 volatility points. The 1Y fixed-tenor observation remained unavailable.
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Bitcoin's 1W ATM implied volatility declined 0.77 volatility points to 31.64% between the October 5 and October 6 snapshots at 17:08 UTC, the largest supported standard-tenor ATM move. The adjustment was classified as routine, with shorter tenors easing while 1M implied volatility rose. Bitcoin ETF outflows, expanded Bitcoin-backed borrowing and leveraged-fund listing approval provide news context, without an established link to the options changes.
Ether 1W ATM IV recorded a change of -2.44 volatility points to 39.26% between the October 5 and October 6 snapshots at 17:08 UTC, the largest standard-tenor ATM IV decline. The compression extended through 2W and 1M. Ethereum’s Sepolia upgrade rehearsal, a resolved withdrawal incident and reported leveraged-fund listing approval supplied context, with no measured link to the options repricing.
Solana’s 1M BF25 butterfly fell 0.72 volatility points to 2.86 volatility points between the October 5 and October 6 snapshots at 17:08 UTC. Over that comparison, 1M ATM implied volatility rose 0.82 volatility points to 52.82%, pairing compressed curvature with higher volatility near the underlying price. Settlement infrastructure and treasury-company developments supply Solana news context, without a demonstrated causal link.
Ether and Bitcoin bracket the majors' 1W ATM implied-volatility-minus-seven-day realised-volatility spreads: Ether's one-week ATM implied volatility is 3.51 volatility points above seven-day realised volatility, while Bitcoin's one-week ATM implied volatility is 0.27 volatility points below seven-day realised volatility. The resulting cross-asset dispersion is 3.78 volatility points at the October 6 cutoff, with Solana between them. Daily options repricing diverged across the constituents, alongside derivatives-access and infrastructure news.
TRX 1W ATM implied volatility stood 6.15 volatility points above seven-day realised volatility, while HYPE 1W ATM implied volatility stood 7.37 volatility points below seven-day realised volatility. These highest and lowest spreads defined a 13.52 volatility-point dispersion across the four altcoins at the October 6 cutoff. Daily 1W ATM implied volatility changes also diverged, alongside developing reporting on Hyperliquid pricing coverage.
Bitcoin options shifted toward puts as Bitcoin 2W RR25 declined 1.14 volatility points to -0.30 volatility points between October 4 and October 5 at 16:29 UTC, according to Derivasys data. RR25 measures call implied volatility minus put implied volatility, so its negative reading means put-side implied volatility exceeded call-side implied volatility at that tenor. ATM volatility changes were smaller, while separate reports of Strategy and Strive Bitcoin purchases provided context without establishing a cause for the skew shift.
Ether's 1W BF25 butterfly narrowed from 3.00 to 2.55 volatility points between the October 4 and October 5 snapshots at 16:29 UTC. The 0.45-point decline signals lower wing volatility relative to ATM, alongside falling front-end implied volatility and a shift in skew toward puts. Ethereum treasury purchases and staking queues provide news context, without establishing a cause for the options changes.
Solana options priced lower volatility as Solana 2W ATM IV fell 2.67 volatility points to 51.12% between the October 4 and October 5 16:29 UTC snapshots, according to Derivasys data. This was the largest available fixed-tenor ATM IV change over that window. ATM IV measures implied volatility for options near the forward price. Lower front-end implied volatility accompanied a shift in skew toward puts, while preliminary Solana treasury estimates supplied company-specific news context.
Ether (ETH) and Solana (SOL) defined the 1W IV minus 7D realised volatility dispersion of 4.17 volatility points at the October 5, 16:29 UTC cutoff. Ether had the highest spread and Solana the lowest when comparing one-week ATM implied volatility with seven-day realised volatility. Bitcoin stood between them, while daily changes compressed the outright 1W ATM IV range.
TRX's 1W ATM implied volatility minus seven-day realised volatility spread was +7.07 volatility points, versus AVAX's -9.81 volatility points, the highest and lowest readings across the four altcoins at October 5, 16:29 UTC. Their cross-sectional dispersion was 16.88 volatility points. Daily 1W ATM IV changes diverged across constituents; CoinDesk's XRP treasury SPAC report adds corporate context without establishing a cause for those moves.
Bitcoin's 1W at-the-money implied volatility climbed 2.87 volatility points to 31.90%, the largest standard-tenor ATM move in the daily comparison ending 4 October. Gains diminished at longer maturities, while one-week implied volatility stayed below seven-day realised volatility. Newly published ETF, El Salvador and Hormuz reports provide context, with no established causal link to the repricing.
Ether's 2W BF25 butterfly increased 0.48 volatility points to 2.92 volatility points in the 24 hours ending 4 October at 16:30 UTC, widening average 25-delta wing implied volatility relative to ATM. The adjustment was concentrated in shorter maturities, while longer-dated butterfly measures declined. Near-term ATM volatility also increased. Al Jazeera's provisional Hormuz reporting provides economic context, without establishing a cause for the options changes.
Solana's 2W BF25 fell 0.59 volatility points to 2.80 volatility points over the 24 hours ending 4 October at 16:30 UTC, narrowing the butterfly premium of wing volatility over ATM volatility. The adjustment varied across maturities, alongside a 1W skew shift toward calls. Al Jazeera's provisional Hormuz reporting provides broad economic context, with no established link to the options changes.
Ether and Solana show dispersion of 5.79 volatility points in 1W ATM implied volatility minus seven-day realised volatility, according to Derivasys data at the 4 October cutoff. Ether stands 2.58 volatility points above seven-day realised volatility, while Solana stands 3.21 volatility points below it. Bitcoin falls between these endpoints. The comparison measures implied volatility against recent realised volatility without establishing whether options are cheap or expensive.
TRX and AVAX anchor a 16.37-point range in 1W ATM implied volatility minus seven-day realised volatility: TRX registered plus 3.71 points and AVAX minus 12.66 points at the 4 October cutoff. Only TRX had a positive gap across the four constituents. Daily 1W ATM IV moves diverged while outright volatility dispersion narrowed. Al Jazeera’s provisional Hormuz reporting provides economic context, with no established causal link to the options changes.
Bitcoin two-week ATM IV fell 0.84 volatility points to 30.68% between October 2 and October 3, a routine move as the spot index gained 0.28%. The comparison describes the options surface at the report cutoff; it does not establish a news catalyst or a forecast for the underlying price.
Ether two-week BF25 fell 0.57 volatility points to 2.24 volatility points over the October 2–3 snapshot comparison, as front-end ATM implied volatility increased. The comparison describes the options surface at the report cutoff; it does not establish a news catalyst or a forecast for the underlying price.
Solana one-month BF25 rose 0.59 volatility points to 3.50 volatility points between the October 2 and October 3 snapshots. The comparison describes the options surface at the report cutoff; it does not establish a news catalyst or a forecast for the underlying price.
Solana’s one-week ATM implied volatility exceeded Bitcoin’s by 24.37 volatility points, up from 23.54 points over October 2–3. Solana stood at 53.71%, versus Bitcoin at 29.34%. The comparison describes the options surface at the report cutoff; it does not establish a news catalyst or a forecast for the underlying price.
Across TRX and AVAX, the 1W ATM implied volatility minus 7D realised volatility comparison spanned 17.29 volatility points at the October 3 cutoff. This is a current cross-asset level comparison; a prior spread is unavailable, so it does not measure a change over time.
BTC 1M RR25 moved 1.03 volatility points toward calls to -1.04 volatility points between the October 1 and October 2 snapshots at 16:30 UTC, according to Derivasys data. BTC 1M RR25 stood at -2.07 volatility points at the prior daily snapshot. Puts retained higher implied volatility than calls.
Ether one-week ATM implied volatility fell 4.28 volatility points to 37.63% over the daily window ending October 2 at 16:30 UTC. The decline was concentrated at shorter maturities.
Solana one-month BF25 fell 1.26 volatility points to 2.63 volatility points between the October 1 and October 2 snapshots at 16:30 UTC, according to Derivasys data. Solana one-month BF25 stood at 3.89 volatility points at the prior snapshot.
The Solana–Bitcoin one-week ATM implied-volatility gap widened 1.26 volatility points to 24.36 points over the day ending October 2 at 16:30 UTC. Bitcoin’s implied volatility declined faster than Solana’s.
TRX and AVAX one-week ATM implied volatility changes were 12.75 volatility points apart over the daily window ending October 2 at 16:30 UTC: TRX rose 8.06 points and AVAX fell 4.69 points.
Bitcoin’s one-month call-minus-put RR25 fell 1.07 volatility points to -2.07 volatility points in the 24 hours to October 1 at 16:30 UTC, while one-week ATM implied volatility declined 0.87 points to 29.99%, according to Derivasys.
Ether’s options wings grew richer relative to ATM over the 24 hours to October 1 at 16:30 UTC, while one-week skew shifted further toward puts and the spot index barely moved.
Solana’s front-end options volatility eased over the 24 hours to October 1 at 16:30 UTC, with average ATM implied volatility across one week, two weeks and one month down 1.73 volatility points to 54.22%.
Derivasys data at October 1, 16:30 UTC show the Solana–Bitcoin one-week ATM implied-volatility gap narrowing by 2.41 volatility points to 23.10 points, while the Solana–Ether skew gap widened.
The AVAX–TRX one-week ATM implied-volatility gap narrowed to 62.11 volatility points over the 24 hours to October 1 at 16:30 UTC. Derivasys data show AVAX one-week ATM IV falling 8.42 volatility points to 79.97%, while TRX one-week ATM IV rose 0.17 volatility points to 17.86%.
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Bitcoin 1M BF25 butterfly increased by 0.36 volatility points to 2.08 volatility points over the week from September 26 to October 3, 2026, according to Derivasys data. The increase accompanied lower one-month ATM implied volatility. The comparison describes the options surface at the report cutoff; it does not establish a news catalyst or a forecast for the underlying price.
Across TRX and AVAX, the 1W ATM implied volatility minus 7D realised volatility comparison spanned 17.29 volatility points at the October 3 cutoff. This is a current cross-asset level comparison; a prior spread is unavailable, so it does not measure a change over time.
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