Daily ETH options market report · 24-hour comparison

Ether options: 1w ATM IV rises 1.99 points, outpacing longer tenors

Name: ETH options surface changes for 2026-10-11
Creator: Derivasys
License: https://www.derivasys.com/research-artifact-license/v1

ETH 1W ATM IV rose 1.99 vol points to 42.68% over the daily comparison.

By Sean Gordon — Derivasys Research

Published 11 Oct 2026, 16:32 UTC · Snapshot 11 Oct 2026, 16:30 UTC

Snapshot · 11 Oct 2026, 16:30 UTC

ETHSpot-index 24h +1.70%1W ATM IV 42.68%1W RR25 -4.04 vol pts1W BF25 +3.00 vol pts1W IV − 7D RV +5.32 vol pts

ETH1W ATM IV 42.68%1W IV Δ +1.99 vol pts

Full snapshot readings

ETHSpot-index 24h +1.70%1W ATM IV 42.68%1W RR25 -4.04 vol pts1W BF25 +3.00 vol pts1W IV − 7D RV +5.32 vol pts

Lead move: ETH 1W ATM IV Δ +1.99 vol pts → 42.68% · percentile rank 28.3% by absolute move · full history (n=53); 1-day moves sampled daily UTC; 2026-05-09 to 2026-10-10.

Ether options: 1w ATM IV rises 1.99 points, outpacing longer tenors. ATM implied-volatility term structure from Derivasys data. — Source: Derivasys options data. ATM implied-volatility; 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	2026-09-10 → 2026-10-10 2026-09-10T23:59:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:614c5b26bde10b6045172a4b9c5fdd27f2704c519bb3b1d4e10a2b37d86e7268`
ETH 1W atmIv	moveFullHistory	53 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:0fca3e720e18125c1406ee4d8d8d3797ccd66a82bd049622171f1872e4735277`
ETH 1W atmIv	levelFullHistory	56 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:c1bd3ec538d811716a5b825c1a8d96ba23965690e40d6e05561ef1795caf7c9f`
ETH 1W rr25	move30d	30 samples; 1 days; daily UTC observations	2026-09-10 → 2026-10-10 2026-09-10T23:59:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:6488a52231e2fc1b909c3df97860abbd7ebda2c954b99951f886ce90b8d7be65`
ETH 1W rr25	moveFullHistory	53 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:e618b64fac47dc9b78cc965a5e573a653244ea688bf5a90d6abb56ed3a144802`
ETH 1W rr25	levelFullHistory	56 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:f1f84f4bc64fe96fa9b136165d22f0abba7f116ff29188d6c7185372e046e4bf`
ETH 1W bf25	move30d	30 samples; 1 days; daily UTC observations	2026-09-10 → 2026-10-10 2026-09-10T23:59:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:fa19983cefe1b33322ca88bf09782d45a6b98e8851214c722d396515a0c0c538`
ETH 1W bf25	moveFullHistory	53 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:965cc0b5ba4f86b2dfcdc57c2ecacc7a684f152472f2a3666d0343ac3343114a`
ETH 1W bf25	levelFullHistory	56 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:0926a9409e882c80f1a7d4c68c0bdbf8655dedd35e316e2118e2e7a4174eca2e`
ETH 2W atmIv	move30d	30 samples; 1 days; daily UTC observations	2026-09-10 → 2026-10-10 2026-09-10T23:59:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:205570618ee05cfbf6e758ba3cdb154b3de093aeafdd57f195b1020bb633aade`
ETH 2W atmIv	moveFullHistory	53 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:6ea4bda005a92c1d62d9b6cf7f1e0f55b0945d519a5299a771b8bfea0c277864`
ETH 2W atmIv	levelFullHistory	56 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:d8104235212510a06553bafa4cb1f424b16b36eb227844636ec38d40fc02612e`
ETH 2W rr25	move30d	30 samples; 1 days; daily UTC observations	2026-09-10 → 2026-10-10 2026-09-10T23:59:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:eb6f6a4bd0ee75f15d6cab16fec7bbc29e6973c78cb3c3e199633708822be307`
ETH 2W rr25	moveFullHistory	53 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:06fb3d04e2ef8a9bbeaa985d67c44d898d9d6ff0de96fad412acc14d20223cfe`
ETH 2W rr25	levelFullHistory	56 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:aad809cc1284066943ed3afb7c2ea683f2f3cac8448637d5f6749f3a514decd5`
ETH 2W bf25	move30d	30 samples; 1 days; daily UTC observations	2026-09-10 → 2026-10-10 2026-09-10T23:59:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:d779d400936fbb77570325b48c8b33379f7b1356756c95ac8bb29428493de9b8`
ETH 2W bf25	moveFullHistory	53 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:7993b7368dc4f972755a60dfc0312d3153353a7d4cb323e037c148c70e80ec25`
ETH 2W bf25	levelFullHistory	56 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:011fb037ccbed28afcadab9609268affbc1df0573a27577a545d76b8fe989e52`
ETH 1M atmIv	move30d	30 samples; 1 days; daily UTC observations	2026-09-10 → 2026-10-10 2026-09-10T23:59:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:729752146def5bbcbd8e20785a259f94b595bb450984f66d95cd32d93067dcce`
ETH 1M atmIv	moveFullHistory	53 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:b659d22ab8b3a21602946fde558c0b11c54527c6ac38d669ffd12e8b1e3505f9`
ETH 1M atmIv	levelFullHistory	56 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:f945c0ced5c4eef30e0437fed62bf57906c47192fbaa5296600bc93b42adf133`
ETH 1M rr25	move30d	30 samples; 1 days; daily UTC observations	2026-09-10 → 2026-10-10 2026-09-10T23:59:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:cd52534b193af5189364c98ce61fe036aa93a229f0818003500b368bffb72f83`
ETH 1M rr25	moveFullHistory	53 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:db82bc9bc870e7a8242d378fc375a79c0920dda3cb3997a439808b5739866165`
ETH 1M rr25	levelFullHistory	56 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:19e57f9ef919461c92ec0db63a7d4ab88e70cc3da585e8d8735e9942f1d29354`
ETH 1M bf25	move30d	30 samples; 1 days; daily UTC observations	2026-09-10 → 2026-10-10 2026-09-10T23:59:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:7e69205377caeb5a9046cfca66ddc309800cf1e98b888bf5b2a494355966064b`
ETH 1M bf25	moveFullHistory	53 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:681ba2f13d81916760c978302c3d5d2760f1102d4295cf2f0f0f32e554540fe6`
ETH 1M bf25	levelFullHistory	56 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:0db3bc3dcbe12af33f68c597d350ab9f2d807ed72ffc9568468689d97db7b2bd`
ETH 3M atmIv	move30d	30 samples; 1 days; daily UTC observations	2026-09-10 → 2026-10-10 2026-09-10T23:59:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:32d250e75742416f24e9ae44e7c3229cda2303bbdc01e3d2cbe99647978337d8`
ETH 3M atmIv	moveFullHistory	53 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:9e62b75be015280ae8121ce4583514ae373a2eec3468dd40d98638af9349d232`
ETH 3M atmIv	levelFullHistory	56 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:9a95b38824e9cc7f6ef641d2768e76714929863699e58fab3a6aa29258f6d9a9`
ETH 3M rr25	move30d	30 samples; 1 days; daily UTC observations	2026-09-10 → 2026-10-10 2026-09-10T23:59:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:7a73c02b6769f237e75e7ae410169a0e2f372d46d3f48f177136b2de21f77be1`
ETH 3M rr25	moveFullHistory	53 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:f0738e4aac8df8bdec379e2c4b49b769acd5f6d3c220a0085cc66f368d2695d5`
ETH 3M rr25	levelFullHistory	56 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:ad06ccfc6b76e21ee6df894020a12272bcc09a9884025b5eba09cc76a268de0f`
ETH 3M bf25	move30d	30 samples; 1 days; daily UTC observations	2026-09-10 → 2026-10-10 2026-09-10T23:59:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:500183f503e69c49372bef6bcf2ad27f06d8d389f7beb3a918f5b810eb4a2675`
ETH 3M bf25	moveFullHistory	53 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:cc1beb5525e3a3cbde02865b2c153118791170f98e5971476a1075e194682e45`
ETH 3M bf25	levelFullHistory	56 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:746dcb31ed2e3501f64260d3a392dece37f2be0037257f2561907a6ac5a65902`
ETH 6M atmIv	move30d	30 samples; 1 days; daily UTC observations	2026-09-10 → 2026-10-10 2026-09-10T23:59:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:02102be408a85966e786bf8a1f81e7e6066bb10afc551292db75cb427ed45ea5`
ETH 6M atmIv	moveFullHistory	53 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:f4385f0913fa9aa0ce77f104fd9b55270327f5b09b171acee16677fdc48f6e88`
ETH 6M atmIv	levelFullHistory	56 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:c6b079c2fe97a39ec6729a7df527d572101f741c41ffb9b25e118797af5fc192`
ETH 6M rr25	move30d	30 samples; 1 days; daily UTC observations	2026-09-10 → 2026-10-10 2026-09-10T23:59:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:59af28acb46b4ee864899e0e5ac216cbad8033d68f1e17b6f1f161f2d30b88d1`
ETH 6M rr25	moveFullHistory	53 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:2106e9e04c7c41b1dc69db9c087451cf7726758d975d08d93050f96531aa4ea5`
ETH 6M rr25	levelFullHistory	56 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:d8eae4e8a9f3b47a9ae9f200d19b04461ebfb12cbc0d287eeae8218b7483b1f7`
ETH 6M bf25	move30d	30 samples; 1 days; daily UTC observations	2026-09-10 → 2026-10-10 2026-09-10T23:59:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:71ea8c4f2a16aec0bcc53ef6532fa68a81ed3780658fb6d2ec47ef328f21f98f`
ETH 6M bf25	moveFullHistory	53 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:a548809947a49b3d1d183420d2b4235c24f4605cfc2ed3390cbb7d92e3fc64b0`
ETH 6M bf25	levelFullHistory	56 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:3413b087b2d69eea13e4f3ff7cf4d70456eb4908d17a27c58f6b24eaed50e197`
ETH 9M atmIv	move30d	30 samples; 1 days; daily UTC observations	2026-09-10 → 2026-10-10 2026-09-10T23:59:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:0fd685375178042683da0a0fa45ee2b2511678928a22fe01fbf89fd7a97c11ba`
ETH 9M atmIv	moveFullHistory	53 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:c02ce5d3df985d7f1025581bd283278b1516108b461ac7b347a1e37a8ad84dec`
ETH 9M atmIv	levelFullHistory	56 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:9a4f6a05654920217c41ba3a555a952939195c9f25f8982e9f309d8ad3339856`
ETH 9M rr25	move30d	30 samples; 1 days; daily UTC observations	2026-09-10 → 2026-10-10 2026-09-10T23:59:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:ace2a4fe9f471e70bed1fdbe690e35313c65a36aa0ee945e4cd6b6f1b7a50583`
ETH 9M rr25	moveFullHistory	53 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:a17e57a1a5dbfcde1ce1cc5c1ba0984e6763c4281fea0cf0f7b3b476ce32c177`
ETH 9M rr25	levelFullHistory	56 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:556e7b9eab5167cf924326531e374eadd99829f5041920805345b6165653d0ee`
ETH 9M bf25	move30d	30 samples; 1 days; daily UTC observations	2026-09-10 → 2026-10-10 2026-09-10T23:59:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:ccb3916a45a7759fe2f4b235814419b00323077dcd330945007e59eb82ae8ebc`
ETH 9M bf25	moveFullHistory	53 samples; 1 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:c5823664703e7d1fe6561a22a45670f92b85c025a9994d80a5bf4619ba436d08`
ETH 9M bf25	levelFullHistory	56 samples; 0 days; daily UTC observations	2026-05-09 → 2026-10-10 2026-05-09T12:12:00+00:00 → 2026-10-10T23:59:00+00:00	No period overlap in this cohort; source revision unknown; `sha256:083ff1431d16dd0fb9b2bbf2fcded5bd165c258822ca20088d5c33faa203d4de`
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 +1.99 vol points between the stored daily endpoints.
Relative-value reading: The reading measures ATM implied volatility at the chart’s stated tenor.
Next watch: Watch whether 1W ATM IV extends or reverses this move at the next daily comparison.

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Sunday 11 October

Ether options: 1W ATM IV rises 1.99 points, outpacing longer tenors

Ether's 1W ATM IV increased 1.99 volatility points to 42.68%. Ether's 1W ATM IV stood at 40.69% at the October 10, 16:30 UTC baseline. The increase tapered with maturity: Ether's 2W ATM IV gained 1.44 volatility points to 44.15%, while Ether's 1M ATM IV added 0.63 volatility points to 47.71%. Ether's 1M ATM IV remained above its 1W level, though the gap between those tenors narrowed.

Macro

No qualifying macro event was retained for this report window.

Crypto

[Decrypt reported](https://decrypt.co/380640/bitcoin-ethereum-solana-etfs-red-october) that Ethereum funds had posted nine consecutive days of losses, alongside $386.3 million in Bitcoin ETF net outflows through October's first seven trading days. This provisional, single-source reporting supplies fund-market context for Ether, but no measured event reaction links it to the 1W ATM IV increase.

Bitcoin, Ethereum and Solana ETFs All in the Red for OctoberDecrypt · 16:01 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 +1.99 volatility points, to 42.68%.

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 16:30 UTC cutoff, 1W ATM IV was 42.68%, 5.32 volatility points above seven-day realised volatility of 37.36%; 24-hour realised volatility was 23.40% and 30-day realised volatility was 43.94%.

Front end

Front-end ATM IV increased, averaging +1.35 volatility points to 44.85% across 1W, 2W and 1M.

Long end

Six-month ATM IV was broadly unchanged at 52.51% (+0.21 volatility points); 1Y was unavailable.

Skew

RR25 moved towards puts, averaging -0.36 volatility points to -2.25 volatility points across the five available headline tenors.

Convexity

BF25 increased, averaging +0.15 volatility points to 3.13 volatility points across the five available headline tenors.

Largest standard-tenor move

The largest standard-tenor ATM IV move was +1.99 volatility points at 1W, to 42.68%.

24h spot-index return

ETH spot-index return was +1.70% over 24 hours.

7d spot-index return

ETH spot-index return was -5.67% over seven days.

Universe roll: added 15OCT26; removed 11OCT26. Comparisons use common expiries only.

05 · Standard-tenor ranking

Largest surface events

Largest eligible smile rotation

14OCT26, -4.34 vol pts

Largest standard-tenor ATM IV move

1W, +1.99 vol pts

Largest standard-tenor RR25 move

1W, -0.77 vol pts

Largest standard-tenor BF25 move

3M, +0.21 vol pts

Largest eligible SVI sigma move

24SEP27, -0.1233 param

Largest eligible SVI rho move

14OCT26, -0.0378 param

06 · ATM volatility

Standard-tenor ATM implied volatility.

Tenor	Current (vol %)	Comparison snapshot (vol %)	Change (vol pts)	Relative change
1W	42.68	40.69	+1.99 vol pts	+4.89%
2W	44.15	42.71	+1.44 vol pts	+3.37%
1M	47.71	47.08	+0.63 vol pts	+1.34%
3M	50.71	50.38	+0.33 vol pts	+0.66%
6M	52.51	52.30	+0.21 vol pts	+0.40%
9M	53.32	53.22	+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 puts, averaging -0.36 volatility points to -2.25 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	-4.04	-3.27	-0.77 vol pts
2W	-3.61	-3.28	-0.33 vol pts
1M	-2.20	-1.87	-0.33 vol pts
3M	-0.88	-0.63	-0.25 vol pts
6M	-0.52	-0.38	-0.14 vol pts
9M	0.13	0.27	-0.14 vol pts
1Y	Unavailable	Unavailable	Unavailable

Source: Derivasys Research — structured data

08 · Butterflies

BF25 convexity changed most at 3M.

BF25 increased, averaging +0.15 volatility points to 3.13 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	3.00	2.83	+0.17 vol pts
2W	2.93	2.86	+0.07 vol pts
1M	3.16	2.97	+0.19 vol pts
3M	3.34	3.13	+0.21 vol pts
6M	3.20	3.10	+0.10 vol pts
9M	3.05	2.99	+0.06 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

12OCT26, -22.87 vol pts

1.6d

Smile rotation

13OCT26, -4.78 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
12OCT26Expiry effect	0.6 days	2,541.78	+38.27 USD	32.60%	+4.83 vol pts	-3.94 vol pts	-0.18 vol pts
13OCT26Expiry effect	1.6 days	2,541.63	+37.78 USD	38.54%	+4.25 vol pts	-1.16 vol pts	+0.44 vol pts
14OCT26	2.6 days	2,541.59	+37.50 USD	40.13%	+3.94 vol pts	-1.01 vol pts	+0.11 vol pts
16OCT26	4.6 days	2,542.05	+37.50 USD	42.35%	+2.26 vol pts	-0.78 vol pts	+0.10 vol pts
23OCT26	11.6 days	2,543.66	+37.41 USD	42.93%	+1.14 vol pts	-0.52 vol pts	+0.16 vol pts
30OCT26	18.6 days	2,545.14	+37.42 USD	45.60%	+0.51 vol pts	-0.68 vol pts	+0.16 vol pts
27NOV26	46.6 days	2,553.14	+37.87 USD	48.90%	+0.47 vol pts	-0.17 vol pts	+0.17 vol pts
25DEC26	74.6 days	2,563.06	+38.05 USD	49.92%	+0.32 vol pts	-0.31 vol pts	+0.25 vol pts
26MAR27	165.6 days	2,591.58	+38.39 USD	52.30%	+0.23 vol pts	-0.14 vol pts	+0.12 vol pts
25JUN27	256.6 days	2,623.31	+39.23 USD	53.14%	+0.10 vol pts	-0.13 vol pts	+0.03 vol pts
24SEP27	347.6 days	2,655.27	+40.12 USD	53.91%	+0.03 vol pts	-0.18 vol pts	+0.18 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.

12OCT26rotation towards puts · wing steepening

13OCT26rotation towards puts · wing steepening

14OCT26rotation towards puts · wing steepening

16OCT26rotation towards puts · wing steepening

23OCT26rotation towards puts · wing steepening

30OCT26rotation towards puts

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.

12OCT26

13OCT26

14OCT26

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

market-context-v1; Derivasys fixed 30-calendar-day ATM IV and canonical crypto index, Yahoo Finance ^VIX/^VIX9D/^VIX3M/^GSPC. IV and RV levels/spreads use volatility_points; ratios use ratio; percentiles use percentile_rank; correlations use correlation_coefficient. Crypto RV uses 20 calendar-day close-to-close log returns annualised sqrt(365); SPX RV uses 20 US trading-session returns annualised sqrt(252). Alignment tolerance 600 seconds. Cross-asset ingestedAt 2026-10-09T22:30:50.075467Z. IV spread and ratio percentiles are null, each with sampleCount 28; scalar IV/RV sampleCount fields are null. Return-correlation percentile values are 59.909909909909906 (222 observations, 30-session correlation) and 3.0864197530864197 (162 observations, 60-session correlation). One-session changes: IV spread -1.2100003051757753 volatility_points, IV ratio -0.0008037903579163341 ratio_change, RV spread 0.3098405146416461 volatility_points, RV ratio 0.09009406243901719 ratio_change.

Evidence, source data and methodology

Report comparison baseline → current snapshot: 2026-10-10 16:30:00 UTC → 2026-10-11 16:30:00 UTC

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

Lead signal · 11 Oct 2026, 16:30 UTC

The measurement behind the lead chart

ETH 1W ATM IV 42.68% · Δ +1.99 vol pts

ETH percentile rank 28.3% by absolute move · full history (n=53); 1-day moves sampled daily UTC; 2026-05-09 to 2026-10-10

Original report summary

Ether's 1W ATM implied volatility rose 1.99 volatility points to 42.68%, its largest standard-tenor increase between the October 10 and October 11 cutoffs at 16:30 UTC. The shorter tenor gained faster than 1M ATM IV, compressing the positive 1M-minus-1W slope. Ethereum ETF losses provide institutional context, without establishing a cause for the options move.

At report cutoff · Levels and stored endpoint changes

What matters now

Vol: ETH 1W ATM IV 42.68% · Δ +1.99 vol pts

Skew: ETH 1W RR25 -4.04 vol pts · Δ -0.77 vol pts

Relative value: ETH 1W IV 42.68% / 7D RV 37.36% · spread +5.32 vol pts

Vol

ETH 1W ATM IV 42.68% · Δ +1.99 vol ptspercentile rank 28.3% by absolute move · full history (n=53); 1-day moves sampled daily UTC; 2026-05-09 to 2026-10-10

Skew

ETH 1W RR25 -4.04 vol pts · Δ -0.77 vol ptspercentile rank 46.7% by absolute move · 30-day window (n=30); 1-day moves sampled daily UTC; 2026-09-10 to 2026-10-10

Wings

ETH 1W BF25 3.00 vol pts · Δ +0.17 vol ptspercentile rank 26.7% by absolute move · 30-day window (n=30); 1-day moves sampled daily UTC; 2026-09-10 to 2026-10-10

IV versus RV

ETH 1W IV 42.68% / 7D RV 37.36% · spread +5.32 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 28.3% by absolute move · full history (n=53); 1-day moves sampled daily UTC; 2026-05-09 to 2026-10-10

ETH 1W RR25: percentile rank 46.7% by absolute move · 30-day window (n=30); 1-day moves sampled daily UTC; 2026-09-10 to 2026-10-10

ETH 1W BF25: percentile rank 26.7% by absolute move · 30-day window (n=30); 1-day moves sampled daily UTC; 2026-09-10 to 2026-10-10

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 14OCT26; the largest sigma change occurred at 24SEP27.

Expiry	Δ a	Δ b	Δ rho	Δ m	Δ sigma	Smile classification
12OCT26	-0.02050	+0.01510	-0.16690	-0.07600	+0.17650	rotation towards puts, wing steepening
13OCT26	-0.00200	+0.00570	-0.01400	-0.00470	-0.00470	rotation towards puts, wing steepening
14OCT26	+0.00490	-0.00910	-0.03780	-0.01440	-0.00410	rotation towards puts, wing steepening
16OCT26	-0.00760	+0.00330	+0.02220	+0.01330	+0.03010	rotation towards puts, wing steepening
23OCT26	-0.00090	+0.00120	+0.01740	+0.01280	-0.00110	rotation towards puts, wing steepening
30OCT26	+0.00270	+0.00100	+0.01540	+0.02020	-0.02320	rotation towards puts
27NOV26	+0.00010	+0.00370	+0.00530	+0.00770	-0.01350	parallel shift higher
25DEC26	+0.01090	-0.00050	-0.02050	+0.00090	-0.05240	parallel shift higher
26MAR27	+0.03810	-0.02310	+0.01720	+0.05060	-0.08400	parallel shift higher
25JUN27	+0.02930	-0.01720	+0.00860	+0.03780	-0.05140	parallel shift higher
24SEP27	+0.07340	-0.03670	+0.02600	+0.11420	-0.12330	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, 9.986509 USD / vol pt

Highest Gamma12OCT26, 0.011445 1 / USD

Highest Theta Decay12OCT26, -10.764562 USD / day

Highest Vanna24SEP27, 0.001881 delta / vol pt

Highest Volga24SEP27, -0.012819 USD / vol pt²

7D realised volatility · data quality

Asset	Recorded RV	Status	Coverage / required	Longest gap / maximum
ETH	37.36%	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 11 Oct 2026, 16:30:00 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: 11 Oct 2026, 16:30 UTC
Comparison snapshot: 10 Oct 2026, 16:30 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

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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 3M.

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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