Daily ETH options market report · 24-hour comparison

Ether options: 1w RR25 rises 1.32 volatility points, narrowing put-call skew

Name: ETH options surface changes for 2026-10-10
Creator: Derivasys
License: https://www.derivasys.com/research-artifact-license/v1

ETH 1W RR25 rose 1.32 vol points to -3.03 vol points over the daily comparison.

By Sean Gordon — Derivasys Research

Published 10 Oct 2026, 17:04 UTC · Snapshot 10 Oct 2026, 17:02 UTC

Snapshot · 10 Oct 2026, 17:02 UTC

ETHSpot-index 24h +0.61%1W ATM IV 41.22%1W RR25 -3.03 vol pts1W BF25 +2.83 vol pts1W IV − 7D RV +4.41 vol pts

ETH1W ATM IV 41.22%1W RR25 Δ +1.32 vol pts

Full snapshot readings

ETHSpot-index 24h +0.61%1W ATM IV 41.22%1W RR25 -3.03 vol pts1W BF25 +2.83 vol pts1W IV − 7D RV +4.41 vol pts

Lead move: ETH 1W RR25 Δ +1.32 vol pts → -3.03 vol pts · percentile rank 73.3% by absolute move · 30-day window (n=30); 1-day moves sampled daily UTC; 2026-09-09 to 2026-10-09.

Ether options: 1w RR25 rises 1.32 volatility points, narrowing put-call skew. RR25 term structure from Derivasys data. — Source: Derivasys options data. RR25; unsupported tenors remain blank. Cite this report.

Measurement and history provenance

Percentile sample windows, horizons and receipts

Samples use daily UTC observations. Weekly moves can be rolling and overlapping; observation counts do not imply independent periods. Missing legacy bounds and source revisions remain unavailable.

Frozen percentile denominators
Asset / tenor / metric	Cohort	Count / horizon	Actual bounds	Overlap / provenance
ETH 1W atmIv	move30d	30 samples; 1 days; daily UTC observations	2026-09-09 → 2026-10-09 2026-09-09T23:59:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:a321071745cde3c49f694d777da78d13c477235d60c2c36ca31eef342c58e726`
ETH 1W atmIv	moveFullHistory	52 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:00ed79061fbea43301c64b8d87b6838937e3fc20612cb517a60dc0d37efb1855`
ETH 1W atmIv	levelFullHistory	55 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:45096c62d553c89fdbad6fd6e3d70b5f253f6cb5723873af7054ba5e1f193305`
ETH 1W rr25	move30d	30 samples; 1 days; daily UTC observations	2026-09-09 → 2026-10-09 2026-09-09T23:59:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:4b349399790207637f8539c5c41bf4e52a048248b123a98b0048708f6c9a9b40`
ETH 1W rr25	moveFullHistory	52 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:db9acb06244ac9dfb4148da5918e9b7c4de26a8b79760685c435760b6707747e`
ETH 1W rr25	levelFullHistory	55 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:83271c0be67893acdea3ac62324ac3af48736f6f5cd2596a8378d846feaf0dc8`
ETH 1W bf25	move30d	30 samples; 1 days; daily UTC observations	2026-09-09 → 2026-10-09 2026-09-09T23:59:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:fc4816d349337aa54a665babc352113f69fdad880ce055062ff7b90b660af5f9`
ETH 1W bf25	moveFullHistory	52 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:bdd881ed39ee1fdd2aa2e172d20ed7389ade5cda6a455c13518fbd5290bf4323`
ETH 1W bf25	levelFullHistory	55 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:e3bbb6e104d11d72be4a16c0cbdb4f1219ef638de8b8d7be3e284f04b07f3075`
ETH 2W atmIv	move30d	30 samples; 1 days; daily UTC observations	2026-09-09 → 2026-10-09 2026-09-09T23:59:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:387c8697867d171140e59a6c520e22576ef8a27225cfe37362f5c58a4a151fba`
ETH 2W atmIv	moveFullHistory	52 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:eb7cd2dcba1f4db59a12a8ddc06129b6805c24a1ef22a9c4d872b1eab163bc59`
ETH 2W atmIv	levelFullHistory	55 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:839b4241d937eb7e8b40ebf7e337b8a5366e408e9a468960459a162d073dc502`
ETH 2W rr25	move30d	30 samples; 1 days; daily UTC observations	2026-09-09 → 2026-10-09 2026-09-09T23:59:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:8689a2b84f0013c96641407c427790be49b5898c5ba198d0ecc31af4359cbb13`
ETH 2W rr25	moveFullHistory	52 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:6e058b22eb1eed4ddc985700b752fe7930060ee1f3bb9b8a3708bac1639cbba9`
ETH 2W rr25	levelFullHistory	55 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:87ca61de4db14c1f6f1e78cab32b0dd9de7519ba81be3af6206039bb8e0b372d`
ETH 2W bf25	move30d	30 samples; 1 days; daily UTC observations	2026-09-09 → 2026-10-09 2026-09-09T23:59:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:b41abe513189a10297ccf72a4275c6dbc29804bd826b2934bc3c6fe8edc7f95f`
ETH 2W bf25	moveFullHistory	52 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:eeb1da3c63c833af89a819ee8dd4fa6adeba594267e8bbe63c283ea4f33f8256`
ETH 2W bf25	levelFullHistory	55 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:edbcba010cd83e4942ac9045d672adc7ff3c22fbf3a22596b14def0d3ea0f3b3`
ETH 1M atmIv	move30d	30 samples; 1 days; daily UTC observations	2026-09-09 → 2026-10-09 2026-09-09T23:59:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:bb311081df6a9adfbf4279cdbe931b40378ca69ec21a884a8e902a0457817a4d`
ETH 1M atmIv	moveFullHistory	52 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:fab767ccb4d0a29e3661c9b4389a89b0f13deb8fbd2fdfa3245b2c59aeb8b1bf`
ETH 1M atmIv	levelFullHistory	55 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:ec0a0b849dbdf7948e569624e172aad7674e5538509bfda85a302542a45caf89`
ETH 1M rr25	move30d	30 samples; 1 days; daily UTC observations	2026-09-09 → 2026-10-09 2026-09-09T23:59:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:eb65e077c567277e719f06bb99b99f0c8b2cc555ca458638b247fc87d181b921`
ETH 1M rr25	moveFullHistory	52 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:f83957f0dd51ecf0d625119a0ef33b5ba79520531f5d1e452e552fe555773f70`
ETH 1M rr25	levelFullHistory	55 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:9207245b429eea67a9e59c2d80c8b89a2f7844a1cad919f60e1955df9efb2668`
ETH 1M bf25	move30d	30 samples; 1 days; daily UTC observations	2026-09-09 → 2026-10-09 2026-09-09T23:59:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:e47f4aeb597024c940bb112cb118176b750524a374965bf3e9f5c2bb723cabbd`
ETH 1M bf25	moveFullHistory	52 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:25204822903fb6e95c39cb2b1b8db1780d01a1cff909009b2650fbcf4d08514a`
ETH 1M bf25	levelFullHistory	55 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:a69ee225010fc11e17b2bb7c7b0d8e7324d8835e125ca3e0cb61703c6bab8458`
ETH 3M atmIv	move30d	30 samples; 1 days; daily UTC observations	2026-09-09 → 2026-10-09 2026-09-09T23:59:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:0aa7a9894e05cde823f28b2fe82c98595522e5dc5871598f25359936ae82580d`
ETH 3M atmIv	moveFullHistory	52 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:3cea145cdce2d973eaf9126166938f45067ab67d39d2cae82c12f8e1557c9ef0`
ETH 3M atmIv	levelFullHistory	55 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:474d0cb3d0bbf8f9b8359b3ea05f7c0a093e8e366afd51e1099fb6618bb85122`
ETH 3M rr25	move30d	30 samples; 1 days; daily UTC observations	2026-09-09 → 2026-10-09 2026-09-09T23:59:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:c95f4049ff8e88e663058b8bc5000ac1b974997e1462e9208078d23ff082c3d5`
ETH 3M rr25	moveFullHistory	52 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:adbaa0ff415a3d0e17be52e80dc07c21b7fcb8f753bfcfcaac526e53ee443dac`
ETH 3M rr25	levelFullHistory	55 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:d67ef83f0c8093958f119699f9b4796b541069434ed60373e4de0c71366d1960`
ETH 3M bf25	move30d	30 samples; 1 days; daily UTC observations	2026-09-09 → 2026-10-09 2026-09-09T23:59:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:658b1b337958e97434a7494f44244f71183b91d4df3a1fca1fe34c81d23a55d2`
ETH 3M bf25	moveFullHistory	52 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:14fc1a9f445703e60447bc2ef81ff622e860907e870f5707123ae9aed5277612`
ETH 3M bf25	levelFullHistory	55 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:811d7093e82f1251a6bd1449766b31841e3d0187969946759afaed88097e7a22`
ETH 6M atmIv	move30d	30 samples; 1 days; daily UTC observations	2026-09-09 → 2026-10-09 2026-09-09T23:59:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:5b7a5663f52cc774fec14d26c76ceeac535d899c438b1406dfbc32796c12d2bb`
ETH 6M atmIv	moveFullHistory	52 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:04dec7e431eddee977207caea4f4acec4bc2ab201bf653ea7a59aceb702235e6`
ETH 6M atmIv	levelFullHistory	55 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:1fb12b6f3257df3b94e319a60d55656ccdebd4373015f375daf1fe6d2a98d5d2`
ETH 6M rr25	move30d	30 samples; 1 days; daily UTC observations	2026-09-09 → 2026-10-09 2026-09-09T23:59:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:89d892525419f5c2ca4d74ad752751f9fab5c40a046f780537f5921208344083`
ETH 6M rr25	moveFullHistory	52 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:36e775e49d23d5f59497a310359da68613e25869899e06c629ac695bd7c6dd7b`
ETH 6M rr25	levelFullHistory	55 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:73e3b38061c81fc563a919bfee1eb2b4e0a12d50d6969d85330cf031d64e0bfc`
ETH 6M bf25	move30d	30 samples; 1 days; daily UTC observations	2026-09-09 → 2026-10-09 2026-09-09T23:59:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:e0c6b0535ef83d17e9c8f9ca3d0a2c765887148d928dbe97b528a2d40f41befd`
ETH 6M bf25	moveFullHistory	52 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:8afa2b00ed4faeb81005ba91bf66dac1245565b649ab0f64a630cdf990c6324b`
ETH 6M bf25	levelFullHistory	55 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:4e94b813d86cce8af6fd0cd58196c6986e2f19ce2bab6a58e2eb7f3a00f39ec1`
ETH 9M atmIv	move30d	30 samples; 1 days; daily UTC observations	2026-09-09 → 2026-10-09 2026-09-09T23:59:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:e42504f1a35d5aaacec45cf0cb87e5ca7fed61662bce8d52e5868970719449bb`
ETH 9M atmIv	moveFullHistory	52 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:62e1a09069e0a5252ca18b07ee59a1008c75531dc0ddafe2e02d4d219c6c54c2`
ETH 9M atmIv	levelFullHistory	55 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:9484df50c75b05d5ac0969086314e4e649440cf5c3e9aa0019b94fa006c8c644`
ETH 9M rr25	move30d	30 samples; 1 days; daily UTC observations	2026-09-09 → 2026-10-09 2026-09-09T23:59:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:16889a7b3e4ef108ee32ff17f49559dfb9d75802a4ec516cee76cad270551044`
ETH 9M rr25	moveFullHistory	52 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:e3aab136f48f5899d2d62ef23127e7868733d54adc3412d68d04e95bf67d7548`
ETH 9M rr25	levelFullHistory	55 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:350b1a98f8b7b0490c52e1f28020553270da20160bca4ecd5ce8d6be68f387a2`
ETH 9M bf25	move30d	30 samples; 1 days; daily UTC observations	2026-09-09 → 2026-10-09 2026-09-09T23:59:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:4b39d628b1f39f47a21bab83b730f0d6cf189ac139a2c83cd580f531c9fcea5b`
ETH 9M bf25	moveFullHistory	52 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:7a4474c263ae77d83ac43e934b6eaf349dff0adc704359816ac189362e819f04`
ETH 9M bf25	levelFullHistory	55 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-09 2026-05-09T12:12:00+00:00 → 2026-10-09T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:ebe70f97b67da846fae46055d63c300b09514531e333c1548e6d8e15583fd422`
ETH 1Y atmIv	move30d	0 samples; 1 days; daily UTC observations	Unavailable → Unavailable Exact start unavailable → Exact end unavailable	No period overlap in this cohort; source revision unknown; `sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945`
ETH 1Y atmIv	moveFullHistory	0 samples; 1 days; daily UTC observations	Unavailable → Unavailable Exact start unavailable → Exact end unavailable	No period overlap in this cohort; source revision unknown; `sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945`
ETH 1Y atmIv	levelFullHistory	0 samples; 0 days; daily UTC observations	Unavailable → Unavailable Exact start unavailable → Exact end unavailable	No period overlap in this cohort; source revision unknown; `sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945`
ETH 1Y rr25	move30d	0 samples; 1 days; daily UTC observations	Unavailable → Unavailable Exact start unavailable → Exact end unavailable	No period overlap in this cohort; source revision unknown; `sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945`
ETH 1Y rr25	moveFullHistory	0 samples; 1 days; daily UTC observations	Unavailable → Unavailable Exact start unavailable → Exact end unavailable	No period overlap in this cohort; source revision unknown; `sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945`
ETH 1Y rr25	levelFullHistory	0 samples; 0 days; daily UTC observations	Unavailable → Unavailable Exact start unavailable → Exact end unavailable	No period overlap in this cohort; source revision unknown; `sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945`
ETH 1Y bf25	move30d	0 samples; 1 days; daily UTC observations	Unavailable → Unavailable Exact start unavailable → Exact end unavailable	No period overlap in this cohort; source revision unknown; `sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945`
ETH 1Y bf25	moveFullHistory	0 samples; 1 days; daily UTC observations	Unavailable → Unavailable Exact start unavailable → Exact end unavailable	No period overlap in this cohort; source revision unknown; `sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945`
ETH 1Y bf25	levelFullHistory	0 samples; 0 days; daily UTC observations	Unavailable → Unavailable Exact start unavailable → Exact end unavailable	No period overlap in this cohort; source revision unknown; `sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945`

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Chart reading: ETH +1.32 vol points between the stored daily endpoints.
Relative-value reading: Positive RR25 places call-wing IV above put-wing IV; negative RR25 places put-wing IV above call-wing IV.
Next watch: Watch whether 1W RR25 extends or reverses this move at the next daily comparison.

The day in markets.

Saturday 10 October

Ether options: 1W RR25 rises 1.32 volatility points, narrowing put-call skew

Ether's 1W RR25 increased 1.32 volatility points toward calls to -3.03 volatility points between the October 9 and October 10 snapshots at 17:02 UTC. Equivalent 25-delta puts still carried higher implied volatility than calls. The adjustment was concentrated at 1W: over the same daily comparison, Ether's 2W RR25 increased 0.01 volatility points and Ether's 1M RR25 increased 0.09 volatility points.

Macro

No qualifying macro event was retained for this report window.

Crypto

In institutional news, [The Block](https://www.theblock.co/news/markets/2026-10-10-ether-etfs-extend-outflow-streak-to-nine-days-as-solana-funds-snap-record-14-week-inflow-run-418215) reported that Ether ETFs had extended their outflow streak to nine days and Solana funds had ended a 14-week inflow run. The single-source report provides context for Ether markets; it does not establish that ETF flows drove the measured skew or volatility changes.

Ether ETFs extend outflow streak to nine days as Solana funds snap record 14-week inflow runThe Block · 15:10 UTC

Links identify the underlying reporting for retained events; entries without a retained link are marked.

02 · Options market read

What the volatility surface did.

5 of 6 headline tenors were comparable at both endpoints. The largest ATM IV move was 1W at +1.46 volatility points, to 41.22%.

RV observation windows

The 24-hour, seven-day and 30-day RV windows are assessed independently using observed one-minute index returns, annualised on a 365-day basis. Recorded minimums: at least 99.5% coverage over 24 hours, 99.5% coverage over seven days, 99.5% coverage over 30 days, with no gap longer than 60 minutes. Returns spanning gaps are excluded, not interpolated; unavailable windows remain unreported. The exact 24-hour spot return requires prices at both endpoints.

Derived directly from structured Derivasys surface data

Relevant context found; no confirmed catalyst

Relevant market event

1 relevant event was retained for the comparison window.

Confidencelow causal confidence

News is presented as contextual association unless the structured evidence supports a stronger relationship.

04 · Detailed analysis

What changed across the ETH volatility surface.

Implied versus realised

At the 17:02 UTC cutoff, 1W ATM IV was 41.22%, 4.41 volatility points above seven-day realised volatility of 36.81%; 24-hour realised volatility was 20.07% and 30-day realised volatility was 45.84%.

Front end

Front-end ATM IV increased, averaging +1.26 volatility points to 43.80% across 1W, 2W and 1M.

Long end

Six-month ATM IV was broadly unchanged at 52.37% (+0.20 volatility points); 1Y was unavailable.

Skew

RR25 moved towards calls, averaging +0.35 volatility points to -1.84 volatility points across the five available headline tenors.

Convexity

BF25 increased, averaging +0.11 volatility points to 2.99 volatility points across the five available headline tenors.

Largest standard-tenor move

The largest standard-tenor ATM IV move was +1.46 volatility points at 1W, to 41.22%.

24h spot-index return

ETH spot-index return was +0.61% over 24 hours.

7d spot-index return

ETH spot-index return was -6.65% over seven days.

Universe roll: added 14OCT26; removed 10OCT26. Comparisons use common expiries only.

05 · Standard-tenor ranking

Largest surface events

Largest eligible smile rotation

13OCT26, +10.50 vol pts

Largest standard-tenor ATM IV move

1W, +1.46 vol pts

Largest standard-tenor RR25 move

1W, +1.32 vol pts

Largest standard-tenor BF25 move

1W, +0.24 vol pts

Largest eligible SVI rho move

13OCT26, +0.1401 param

Largest eligible SVI sigma move

26MAR27, +0.0934 param

06 · ATM volatility

Standard-tenor ATM implied volatility.

Tenor	Current (vol %)	Comparison snapshot (vol %)	Change (vol pts)	Relative change
1W	41.22	39.76	+1.46 vol pts	+3.67%
2W	43.17	41.82	+1.35 vol pts	+3.23%
1M	47.00	46.03	+0.97 vol pts	+2.11%
3M	50.50	50.03	+0.47 vol pts	+0.94%
6M	52.37	52.17	+0.20 vol pts	+0.38%
9M	53.24	53.14	+0.10 vol pts	+0.19%
1Y	Unavailable	Unavailable	Unavailable	Unavailable

Source: Derivasys Research — structured data

07 · Risk reversals

RR25 skew moved most at 1W.

RR25 moved towards calls, averaging +0.35 volatility points to -1.84 volatility points across the five available headline tenors. Negative RR25 denotes a richer 25-delta put wing under the call-minus-put convention.

Tenor	Current (vol pts)	Comparison snapshot (vol pts)	Change (vol pts)
1W	-3.03	-4.35	+1.32 vol pts
2W	-3.31	-3.32	+0.01 vol pts
1M	-1.91	-2.00	+0.09 vol pts
3M	-0.65	-0.85	+0.20 vol pts
6M	-0.31	-0.46	+0.15 vol pts
9M	0.24	0.17	+0.07 vol pts
1Y	Unavailable	Unavailable	Unavailable

Source: Derivasys Research — structured data

08 · Butterflies

BF25 convexity changed most at 1W.

BF25 increased, averaging +0.11 volatility points to 2.99 volatility points across the five available headline tenors. BF25 measures the average 25-delta wing premium over ATM IV.

Tenor	Current (vol pts)	Comparison snapshot (vol pts)	Change (vol pts)
1W	2.83	2.59	+0.24 vol pts
2W	2.91	2.72	+0.19 vol pts
1M	2.97	3.04	-0.07 vol pts
3M	3.17	3.05	+0.12 vol pts
6M	3.09	3.02	+0.07 vol pts
9M	2.96	2.77	+0.19 vol pts
1Y	Unavailable	Unavailable	Unavailable

Source: Derivasys Research — structured data

09 · Expiry effects

Near-settlement moves, shown with context.

Contracts with fewer than 2 full days to expiry remain in the tables but are excluded from headline rankings. Settlement proximity, time decay, changing liquidity and fewer quotes can exaggerate their changes.

0.6d

Smile rotation

11OCT26, +33.73 vol pts

1.6d

Smile rotation

12OCT26, +22.42 vol pts

10 · Volatility term structure

Today against the previous 24-hour snapshot.

Only fixed tenors bracketed by listed expiries at both snapshots are charted. The listed-expiry table preserves the observable exchange maturities underneath those interpolated points.

Suppressed outside the observable listed-expiry range: 1Y.

Expiry	Time left	Forward now (USD)	Forward change (USD)	ATM IV now	ATM IV change	RR25 change	BF25 change
11OCT26Expiry effect	0.6 days	2,502.41	+12.58 USD	25.44%	-1.06 vol pts	+6.63 vol pts	+0.15 vol pts
12OCT26Expiry effect	1.6 days	2,502.69	+12.66 USD	28.68%	-0.46 vol pts	+5.07 vol pts	+0.15 vol pts
13OCT26	2.6 days	2,502.7	+12.23 USD	34.59%	+0.60 vol pts	+2.73 vol pts	+0.11 vol pts
16OCT26	5.6 days	2,503.38	+12.64 USD	40.53%	+1.00 vol pts	+1.83 vol pts	+0.13 vol pts
23OCT26	12.6 days	2,505.32	+12.44 USD	42.44%	+0.79 vol pts	-0.32 vol pts	+0.34 vol pts
30OCT26	19.6 days	2,507.12	+13.22 USD	45.02%	+1.25 vol pts	+0.18 vol pts	-0.08 vol pts
27NOV26	47.6 days	2,515.15	+13.50 USD	48.33%	+0.47 vol pts	-0.03 vol pts	-0.07 vol pts
25DEC26	75.6 days	2,524.37	+12.64 USD	49.75%	+0.52 vol pts	+0.21 vol pts	+0.15 vol pts
26MAR27	166.6 days	2,552.54	+12.63 USD	52.15%	+0.22 vol pts	+0.17 vol pts	+0.03 vol pts
25JUN27	257.6 days	2,583.74	+13.11 USD	53.05%	+0.07 vol pts	+0.05 vol pts	+0.21 vol pts
24SEP27	348.6 days	2,614.34	+13.63 USD	53.91%	+0.14 vol pts	+0.11 vol pts	+0.11 vol pts

11 · Smile movement

Reconstructed SVI smiles for every common expiry.

Each overlay uses the stored five-parameter SVI fit and the snapshot-specific time to expiry. Ultra-short expiries are displayed but do not determine the headline ranking.

11OCT26rotation towards calls · wing steepening

12OCT26rotation towards calls · wing steepening

13OCT26rotation towards calls · wing steepening

16OCT26rotation towards calls · wing steepening

23OCT26rotation towards puts · wing steepening

30OCT26parallel shift higher

27NOV26parallel shift higher

25DEC26parallel shift higher

26MAR27parallel shift higher

25JUN27parallel shift higher

24SEP27parallel shift higher

Surface movement heatmap

Each cell is the fitted IV change in volatility points. Rows are listed expiries; columns run from the put wing through ATM to the call wing.

11OCT26

12OCT26

13OCT26

16OCT26

23OCT26

30OCT26

27NOV26

25DEC26

26MAR27

25JUN27

24SEP27

-0.30kATM+0.30k

Completed-session cross-asset context

Crypto volatility against US equity risk.

ETH 30-day implied volatility was 3.1 times VIX, while its 30-session return correlation with SPX was mixed at 0.57.

Implied-volatility premium

ETH 30-day ATM IV was 46.02%, against VIX at 14.84: a 31.18-point spread and 3.10× ratio.

Daily-close realised-volatility regime

ETH 20-calendar-day realised volatility was 37.79%, versus SPX 20-session realised volatility of 9.93%. The spread ranked at percentile rank 14.5% of 249 prior observations.

This separate RV estimate uses 20 daily close-to-close log returns, sampled at 16:00 New York time, ending at the completed-session timestamp shown below. It requires a valid close for each day, rather than every intervening minute. Crypto RV is annualised with √365; SPX uses 20 trading-session returns and √252. It does not replace the intraday IV–RV comparison.

Equity co-movement

Return correlation with SPX was 0.575 over 30 aligned sessions and 0.259 over 60 sessions. VIX9D, VIX and VIX3M closed at 11.26, 14.84 and 17.77.

As of 09 Oct 2026, 20:00 UTC. Implied volatility and completed-session realised volatility use their respective observation windows shown above.

Evidence and methodology

MCP market_context_latest schemaVersion 1, market-context-v1, qualityStatus valid, alignmentToleranceSeconds 600. All metric observation timestamps are 2026-10-09T20:00:00Z. IV/RV units volatility_points; ratios dimensionless; correlations correlation_coefficient; percentiles percentile_rank. Crypto IV uses a 30-calendar-day fixed tenor and ACT/365 convention. Crypto RV uses 20 calendar days and sqrt(365); SPX RV uses 20 US trading sessions and sqrt(252). Mixed annualisation applies to RV spreads/ratios. Sources are the Derivasys fixed-tenor surface and canonical crypto index plus yahoo_finance ^VIX and ^GSPC. Additional returned crossAsset metrics: ivSpreadChange1d=-1.2100003051757753; ivRatioChange1d=-0.0008037903579163341; rvSpreadChange1d=0.3098405146416461; rvRatioChange1d=0.09009406243901719; ivSpreadPercentile=null and ivRatioPercentile=null, sampleCount=28 each; returnCorrelation30Percentile=59.909909909909906, sampleCount=222; returnCorrelation60Percentile=3.0864197530864197, sampleCount=162. Non-percentile IV/RV metrics have sampleCount=null. Common benchmark measurements and nulls are identical to the BTC context: SPX close 7811.5400390625, fractional return1d 0.005929332712799991, fractional return5d 0.011435471104372093, RV5 8.426687274925504, RV10 8.492049701432514, RV20 9.925846652155299, RV60 11.11730520209371; SPX dailyChange and VIX comparison fields null. VIX dailyChange -0.5699996948242188, VIX9D-minus-VIX -3.5799999237060547, VIX-minus-VIX3M -2.9300003051757812, VIX9D/VIX 0.7587601154382905, VIX/VIX3M 0.8351153500451559. VIX3M dailyChange -0.3099994659423828; VIX9D dailyChange -0.9499998092651367. VIX-family returns and realised-volatility fields are null; VIX3M/VIX9D comparison fields are null.

Evidence, source data and methodology

Report comparison baseline → current snapshot: 2026-10-09 17:02:00 UTC → 2026-10-10 17:02:00 UTC

Changes use these stored market-snapshot baselines. The comparison baseline may differ from the snapshot used in the previous published edition.

Lead signal · 10 Oct 2026, 17:02 UTC

The measurement behind the lead chart

ETH 1W RR25 -3.03 vol pts · Δ +1.32 vol pts

ETH percentile rank 73.3% by absolute move · 30-day window (n=30); 1-day moves sampled daily UTC; 2026-09-09 to 2026-10-09

Original report summary

Ether's 1W RR25 increased 1.32 volatility points toward calls to -3.03 volatility points between the October 9 and October 10 snapshots at 17:02 UTC. The adjustment reduced the put-side implied-volatility premium without eliminating it, while the 2W skew barely changed over the same daily comparison.

At report cutoff · Levels and stored endpoint changes

What matters now

Vol: ETH 1W ATM IV 41.22% · Δ +1.46 vol pts

Skew: ETH 1W RR25 -3.03 vol pts · Δ +1.32 vol pts

Relative value: ETH 1W IV 41.22% / 7D RV 36.81% · spread +4.41 vol pts

Vol

ETH 1W ATM IV 41.22% · Δ +1.46 vol ptspercentile rank 23.1% by absolute move · full history (n=52); 1-day moves sampled daily UTC; 2026-05-09 to 2026-10-09

Skew

ETH 1W RR25 -3.03 vol pts · Δ +1.32 vol ptspercentile rank 73.3% by absolute move · 30-day window (n=30); 1-day moves sampled daily UTC; 2026-09-09 to 2026-10-09

Wings

ETH 1W BF25 2.83 vol pts · Δ +0.24 vol ptspercentile rank 38.5% by absolute move · full history (n=52); 1-day moves sampled daily UTC; 2026-05-09 to 2026-10-09

IV versus RV

ETH 1W IV 41.22% / 7D RV 36.81% · spread +4.41 vol pts

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

Historical move evidence

ETH 1W ATM IV: percentile rank 23.1% by absolute move · full history (n=52); 1-day moves sampled daily UTC; 2026-05-09 to 2026-10-09

ETH 1W RR25: percentile rank 73.3% by absolute move · 30-day window (n=30); 1-day moves sampled daily UTC; 2026-09-09 to 2026-10-09

ETH 1W BF25: percentile rank 38.5% by absolute move · full history (n=52); 1-day moves sampled daily UTC; 2026-05-09 to 2026-10-09

12 · Technical appendix

Model parameters and normalized Greeks.

These diagnostics preserve the fitted-surface audit trail without competing with the main market story.

Show SVI parameter changes and normalized Greeks

SVI diagnostics

Daily movement in a, b, rho, m and sigma.

Among ranking-eligible expiries, the largest absolute rho change occurred at 13OCT26; the largest sigma change occurred at 26MAR27.

Expiry	Δ a	Δ b	Δ rho	Δ m	Δ sigma	Smile classification
11OCT26	+0.05660	-0.07160	+0.31110	+0.14580	-0.38490	rotation towards calls, wing steepening
12OCT26	+0.03470	-0.03900	+0.24310	+0.10940	-0.21640	rotation towards calls, wing steepening
13OCT26	+0.01290	-0.01130	+0.14010	+0.06410	-0.07350	rotation towards calls, wing steepening
16OCT26	+0.00110	+0.00500	-0.07780	-0.06110	-0.02090	rotation towards calls, wing steepening
23OCT26	+0.00090	+0.00770	-0.05630	-0.03190	-0.03080	rotation towards puts, wing steepening
30OCT26	-0.01780	+0.00900	-0.04770	-0.04060	+0.07400	parallel shift higher
27NOV26	+0.00660	-0.01300	+0.05150	+0.03770	-0.00020	parallel shift higher
25DEC26	+0.01040	-0.00950	+0.07460	+0.05890	-0.02980	parallel shift higher
26MAR27	-0.04140	+0.02160	+0.02650	-0.01270	+0.09340	parallel shift higher
25JUN27	+0.00660	-0.02610	+0.09420	+0.12870	+0.00650	parallel shift higher
24SEP27	+0.00460	+0.00280	+0.00650	+0.01930	-0.02500	parallel shift higher

Current surface characteristics

Where normalized model Greek intensity is highest.

These are comparable Black-forward Greeks for a one-ETH ATM-forward call at each listed expiry—not portfolio exposure, open interest or a prediction of dealer positioning.

Highest Vega24SEP27, 9.84543 USD / vol pt

Highest Gamma11OCT26, 0.015161 1 / USD

Highest Theta Decay11OCT26, -8.416727 USD / day

Highest Vanna24SEP27, 0.001883 delta / vol pt

Highest Volga24SEP27, -0.012674 USD / vol pt²

7D realised volatility · data quality

Asset	Recorded RV	Status	Coverage / required	Longest gap / maximum
ETH	36.81%	Available	100% / 99.5% required	0 min / 60 min 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

ETH · Available · Surface cutoff 10 Oct 2026, 17:02:00 UTC · 7D coverage 100% / 99.5% required · largest 7D gap 0 min / 60 min maximum · maximum gap 60 min.

24h: complete; 1440/1440 observed returns; 100% coverage; 99.5% minimum; 0 min largest gap.

7d: complete; 10080/10080 observed returns; 100% coverage; 99.5% minimum; 0 min largest gap.

30d: complete; 43200/43200 observed returns; 100% coverage; 99.5% minimum; 0 min largest gap.

Source data JSON

13 · Methodology and provenance

Generated from measured Derivasys surface data.

Current snapshot: 10 Oct 2026, 17:02 UTC
Comparison snapshot: 09 Oct 2026, 17:02 UTC
Source: Derivasys proprietary historical SVI surface and canonical ETH index databases
Realised volatility: Annualised root-mean-square of one-minute canonical ETH-USD index log returns using a 365-day basis; all windows end at the current snapshot.
Comparison window: Nearest successful surface snapshots approximately 24 hours apart
RR convention: 25-delta call IV minus 25-delta put IV
BF convention: Average 25-delta wing IV minus ATM forward IV
Fixed tenors: Fixed-tenor measures are published only when listed expiries bracket the target at both comparison snapshots. Targets outside either observable range are suppressed, not extrapolated; headline rankings use only supported tenors.
Smile reconstruction: Listed-expiry smiles are reconstructed from stored SVI total-variance parameters on a fixed log-moneyness grid.
Ultra-short expiries: Expiries with fewer than 2 full days remaining stay in detailed tables but are excluded from headline rankings. Settlement proximity, time decay, changing liquidity and fewer quotes can exaggerate their changes.
Greek normalization: Black forward Greeks for a normalized one-ETH ATM-forward call, zero rate, fitted SVI IV
Catalyst policy: Only sufficiently relevant, reliably sourced events are shown; otherwise no catalyst is assigned.

Continue through Derivasys

From today’s report to the underlying methods.

Live dashboard All reports Daily metrics data Latest ETH daily Latest weekly API Volatility surface guide What is SVI? Risk reversals Butterflies Local volatility Variance swaps

Measurement and history provenance

The day in markets.

Macro

Crypto

What the volatility surface did.

Relevant market event

What changed across the ETH volatility surface.

Largest surface events

Standard-tenor ATM implied volatility.

RR25 skew moved most at 1W.

BF25 convexity changed most at 1W.

Near-settlement moves, shown with context.

Today against the previous 24-hour snapshot.

Reconstructed SVI smiles for every common expiry.

Surface movement heatmap

Crypto volatility against US equity risk.

The measurement behind the lead chart

What matters now

Vol

Skew

Wings

IV versus RV

Model parameters and normalized Greeks.

Daily movement in a, b, rho, m and sigma.

Where normalized model Greek intensity is highest.

7D realised volatility · data quality

Generated from measured Derivasys surface data.

From today’s report to the underlying methods.

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