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Daily ETH options market report · 24-hour comparison

Ether options: 2w RR25 rises 1.11 volatility points, narrowing negative skew

ETH 2W RR25 rose 1.11 vol points to -2.50 vol points over the daily comparison.

By Sean Gordon — Derivasys Research

Published · Snapshot

Snapshot · 12 Oct 2026, 16:30 UTC

  • ETHSpot-index 24h -0.59%1W ATM IV 42.04%1W RR25 -3.05 vol pts1W BF25 +2.85 vol pts1W IV − 7D RV +4.22 vol pts
  • ETH1W ATM IV 42.04%2W RR25 Δ +1.11 vol pts
Full snapshot readings
  • ETHSpot-index 24h -0.59%1W ATM IV 42.04%1W RR25 -3.05 vol pts1W BF25 +2.85 vol pts1W IV − 7D RV +4.22 vol pts

Lead move: ETH 2W RR25 Δ +1.11 vol pts → -2.50 vol pts · percentile rank 66.7% by absolute move · 30-day window (n=30); 1-day moves sampled daily UTC; 2026-09-11 to 2026-10-11.

2W RR25 – selected tenor
Vol points

2W RR25 – selected tenor. Vol points. ETH: Current -2.50, Previous -3.61.CurrentPreviousETH-2.50-3.61-3.90-1.950.00

Current: 12 Oct 2026, 16:30 UTC
Previous: 11 Oct 2026, 16:30 UTC

Ether options: 2w RR25 rises 1.11 volatility points, narrowing negative skew. RR25 term structure from Derivasys data.
Source: Derivasys options data. RR25; unsupported tenors remain blank. Cite this report.

View full-size chart

Plotted chart data
RR25, vol points · 2026-10-12T16:30:00+00:00
TenorETH currentETH previous
1W-3.05-4.04
2W-2.50-3.61
1M-1.55-2.20
3M-0.66-0.88
6M0.17-0.52
9M0.400.13
1YUnavailableUnavailable

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 / metricCohortCount / horizonActual boundsOverlap / provenance
ETH 1W atmIvmove30d30 samples; 1 days; daily UTC observations2026-09-11 → 2026-10-11
2026-09-11T23:59:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:4e8a01013ac1a38376af929e6dc17472b1392dca5fc692601d4dfe58cb3b9367
ETH 1W atmIvmoveFullHistory54 samples; 1 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:5fe43a4d13932ce3929aac08db06417b65e33c28714874fb425ef8ba29b6600d
ETH 1W atmIvlevelFullHistory57 samples; 0 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:f520ae58b8e940e146af274557b8d8a7a45117b322f7e1f9f39835c1adeca0d8
ETH 1W rr25move30d30 samples; 1 days; daily UTC observations2026-09-11 → 2026-10-11
2026-09-11T23:59:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:9b63f10e3ee23af20400794d31353cacf950344690c4f61b9c0a702b4141ace2
ETH 1W rr25moveFullHistory54 samples; 1 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:ebe889c1390c218ce99da6933e094f1d9c80764a7762daf50a7dd7efa6526cd7
ETH 1W rr25levelFullHistory57 samples; 0 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:ecef66b5e23c17ac1134fc1d7b7f9164017d151f0e8da129a858703afe8deb94
ETH 1W bf25move30d30 samples; 1 days; daily UTC observations2026-09-11 → 2026-10-11
2026-09-11T23:59:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:4ddc2074f9acf728292b40d8ad2857a97b9a31c793854db0f61507dcb8c1b0ca
ETH 1W bf25moveFullHistory54 samples; 1 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:9ba2500a1ee0dd5ea6ac52d36c6013569fe760bf34988900cd06821ed85911f1
ETH 1W bf25levelFullHistory57 samples; 0 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:df7307dfc6f3a0285449261433fa26bb8a9523154dff495ae7b65e7241e80018
ETH 2W atmIvmove30d30 samples; 1 days; daily UTC observations2026-09-11 → 2026-10-11
2026-09-11T23:59:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:49c43b0a4a28963df12d2b7b60a625adc44a2be03a934b36341be2ea68d17bbe
ETH 2W atmIvmoveFullHistory54 samples; 1 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:9c148922d1a9b0f89b2547fbe041d3a52dc8b1d9585792d6547aeb51a08e7a8b
ETH 2W atmIvlevelFullHistory57 samples; 0 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:eb98a5139e5e91254f2a9d330d8d574a33d5689e5da97cf721efb3acf94f298a
ETH 2W rr25move30d30 samples; 1 days; daily UTC observations2026-09-11 → 2026-10-11
2026-09-11T23:59:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:e6b902aff8a422e957ae70b35ece22837a11d098453e2bab06c35a36ceedc602
ETH 2W rr25moveFullHistory54 samples; 1 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:adb9bdce37d741057bdc19fc45e9dcae4d22b785d99dffaf0cbca61f9edfa65d
ETH 2W rr25levelFullHistory57 samples; 0 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:4fc984020132c9275c9791b4c66db363122ec402ae19b75c3f862f54be831e1e
ETH 2W bf25move30d30 samples; 1 days; daily UTC observations2026-09-11 → 2026-10-11
2026-09-11T23:59:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:074a659f8192c7fce546ccddc888d44fc7b7833d625a9a1981cb02e9ded5d5fa
ETH 2W bf25moveFullHistory54 samples; 1 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:7b8dca50f62b9620079f3214f50fb6b99c41450877132b0a1e51c79ec05b3ca0
ETH 2W bf25levelFullHistory57 samples; 0 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:3b1852f30451db232de895451390343d8e4b3a7efa230e3aef019ecba1b04f67
ETH 1M atmIvmove30d30 samples; 1 days; daily UTC observations2026-09-11 → 2026-10-11
2026-09-11T23:59:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:c1db5f0627e510072853a39c02d0ddd1db45014f655470b9fd6ef72822c3c4ff
ETH 1M atmIvmoveFullHistory54 samples; 1 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:6128ea16d94bbbe94c655fe01c2483423c511be378daaf8f007929141ab244e4
ETH 1M atmIvlevelFullHistory57 samples; 0 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:d92f96e11b83023a1187a69d2e9dfab416ea23ce8a150ce5cd3549313e115ae0
ETH 1M rr25move30d30 samples; 1 days; daily UTC observations2026-09-11 → 2026-10-11
2026-09-11T23:59:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:fdb5b66a36bab89486f3dcd699cc272242d07e1cb6f9bf9ef2192e2e39d064ce
ETH 1M rr25moveFullHistory54 samples; 1 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:33b9ed21bb25734632d6adc3fc4f554e16d8e302542e427458938e3379e5e0b4
ETH 1M rr25levelFullHistory57 samples; 0 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:3540520d3707b9d35fc5f4e222f7b0d6cb9c4587d95c445fa012a7f7eb71a3a4
ETH 1M bf25move30d30 samples; 1 days; daily UTC observations2026-09-11 → 2026-10-11
2026-09-11T23:59:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:5090263e02a9aebdf5ecbcd5ab365f3dca2ec58482433a5618776d6defb47951
ETH 1M bf25moveFullHistory54 samples; 1 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:183d1de83cbaf0b9665f62978ac7cce2c0a17cdef8a3ae8bad4dfcbea9c53f97
ETH 1M bf25levelFullHistory57 samples; 0 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:d4e1c51fe617e29456aaca3db900c84a397bce4705cdc400ae25be35aa6d7005
ETH 3M atmIvmove30d30 samples; 1 days; daily UTC observations2026-09-11 → 2026-10-11
2026-09-11T23:59:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:271ed310fa8e97317c5251bf945705ce2d9a958cf849f24da4268dc9c0e326c6
ETH 3M atmIvmoveFullHistory54 samples; 1 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:c267a5a7ee8edc0f0902e91d1d555d8c1016b27a942b09cee75a27b0a44567f9
ETH 3M atmIvlevelFullHistory57 samples; 0 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:8de1379d77aea153e28facf0cd13e221ca1a8f9bdd6f8d0f66d16e7283ef8aeb
ETH 3M rr25move30d30 samples; 1 days; daily UTC observations2026-09-11 → 2026-10-11
2026-09-11T23:59:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:87b3b855226e1dc17a4b057ae3adaa921224784fe250eeb962e55ad061102639
ETH 3M rr25moveFullHistory54 samples; 1 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:1504ce424695106f563d503f16fafc8700bb3182827b901a26915a1975b2fb01
ETH 3M rr25levelFullHistory57 samples; 0 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:d0264b6cc749239d0f4bfd9c079ec37843a11a6df7162bcd630b1bec9907c32a
ETH 3M bf25move30d30 samples; 1 days; daily UTC observations2026-09-11 → 2026-10-11
2026-09-11T23:59:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:adad00866c69fa836c20a420349d2bcf6031bc8eac89534dd84efc8ad84cf029
ETH 3M bf25moveFullHistory54 samples; 1 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:34b69183cae719b6c1df14186583c2ec61454a6ff2f092e998f4419496b70596
ETH 3M bf25levelFullHistory57 samples; 0 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:527e07e4eda83a559df55c0d628b9dd20109e5167520585263347f0fa1ad0d0f
ETH 6M atmIvmove30d30 samples; 1 days; daily UTC observations2026-09-11 → 2026-10-11
2026-09-11T23:59:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:27734d80f76269aebbc03b7e1cc8ab23307be937d8d5378ee41c8f9f672ddbc0
ETH 6M atmIvmoveFullHistory54 samples; 1 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:589398392397a8b8ade678d8b41c48e5d8439c0626f49327b95d39236ee5b25c
ETH 6M atmIvlevelFullHistory57 samples; 0 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:3c74b18c91e903d8b3e5fcddf94a67c813ae00749329c0b58cb9fa58400329cf
ETH 6M rr25move30d30 samples; 1 days; daily UTC observations2026-09-11 → 2026-10-11
2026-09-11T23:59:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:b71bc262b8fadfca4a64789f6fbe9fb34b2a25f79f8267d3232a454218abf2cc
ETH 6M rr25moveFullHistory54 samples; 1 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:bc9a9eb1999f7a5c7e0cb8e9c90f741efd464dbbaaa524bfec11e08040af4633
ETH 6M rr25levelFullHistory57 samples; 0 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:3d4d6c509e0b1543ccf23ff4be011273372845c82d2de19365d8b39b46a6e7f1
ETH 6M bf25move30d30 samples; 1 days; daily UTC observations2026-09-11 → 2026-10-11
2026-09-11T23:59:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:19f1365c41a82acee5d6cbb722e1da885f392b5c18f96383d455d33d7c20611d
ETH 6M bf25moveFullHistory54 samples; 1 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:9101539f033c4031c7c617aa5d1a960f483525398411b602ea365e7dee3533e0
ETH 6M bf25levelFullHistory57 samples; 0 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:5a2a13d21fb824a9c7ca184818f79d712f0036c10cf1c2476f1185b127988ca9
ETH 9M atmIvmove30d30 samples; 1 days; daily UTC observations2026-09-11 → 2026-10-11
2026-09-11T23:59:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:bf5ced78a0ea2102baba12769e85021435905711a618c35537e52c2ccb4c65f5
ETH 9M atmIvmoveFullHistory54 samples; 1 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:a0ffc244dfb8e0ff217e53605ac967923f4c781cc63ed34d00909801cafc5c07
ETH 9M atmIvlevelFullHistory57 samples; 0 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:59caf8d3d7d082aea3dbcd95ae3929e73313835f9de0f6f2d9eac7c1f83b0745
ETH 9M rr25move30d30 samples; 1 days; daily UTC observations2026-09-11 → 2026-10-11
2026-09-11T23:59:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:eb7921d28baa95e3055078744af08b0aa28417b4bf674e3a72de611ec95d2bdc
ETH 9M rr25moveFullHistory54 samples; 1 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:6937a382ac44c92e89c1520c94b0a89acb94344272120f567b7b2f9cab32bce0
ETH 9M rr25levelFullHistory57 samples; 0 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:ea10b9c9951b2b5276117a31193bd76a3f6a3f420f22a83c30d7cbbaea99bb54
ETH 9M bf25move30d30 samples; 1 days; daily UTC observations2026-09-11 → 2026-10-11
2026-09-11T23:59:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:587ab0d1ffe87709b5ceeefee67aba41eceeae2375612a1f3536636ed3e8f448
ETH 9M bf25moveFullHistory54 samples; 1 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:c5db9e9d16cb908d4341eea893d77a60eb53e511c93466574475612993bcc2a3
ETH 9M bf25levelFullHistory57 samples; 0 days; daily UTC observations2026-05-09 → 2026-10-11
2026-05-09T12:12:00+00:00 → 2026-10-11T23:59:00+00:00		No period overlap in this cohort; source revision unknown; sha256:f995324b87bf195b0f53f6803b461668ab26b050b3e95a9eade8c094a7be6523
ETH 1Y atmIvmove30d0 samples; 1 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
ETH 1Y atmIvmoveFullHistory0 samples; 1 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
ETH 1Y atmIvlevelFullHistory0 samples; 0 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
ETH 1Y rr25move30d0 samples; 1 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
ETH 1Y rr25moveFullHistory0 samples; 1 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
ETH 1Y rr25levelFullHistory0 samples; 0 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
ETH 1Y bf25move30d0 samples; 1 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
ETH 1Y bf25moveFullHistory0 samples; 1 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
ETH 1Y bf25levelFullHistory0 samples; 0 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
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Ether options: 2W RR25 rises 1.11 volatility points, narrowing negative skew

Ether's 2W RR25 increased 1.11 volatility points to -2.50 volatility points between the October 11 and October 12 cutoffs at 16:30 UTC, according to Derivasys data. RR25 measures 25-delta call IV minus 25-delta put IV, so the negative skew narrowed without changing sign. Ether's 2W ATM IV decreased 0.05 volatility points to 44.10%, while Ether's 2W BF25 decreased 0.23 volatility points to 2.70 volatility points.

Macro

No qualifying macro event was retained for this report window.

Crypto

[Decrypt](https://decrypt.co/380685/bitmine-adds-32m-in-ethereum-as-tom-lee-says-firm-is-nearly-done-stacking) reported a Bitmine Ethereum purchase. Separately, [The Block](https://www.theblock.co/news/defi/2026-10-11-trader-nets-1-28-million-on-new-1000x-exchange-papertrade-by-moving-hyperliquids-eth-prices-418239) reported trading activity involving Hyperliquid's ETH prices; that account remains provisional and single-source. These reports provide Ethereum context, with no established link to the measured options changes.

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 -0.64 volatility points, to 42.04%.

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

03 · Catalyst check

11 Oct 2026, 16:30 UTC to 12 Oct 2026, 16:30 UTC

Relevant context found; no confirmed catalyst

Relevant market events

2 relevant events were 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 42.04%, 4.22 volatility points above seven-day realised volatility of 37.82%; 24-hour realised volatility was 40.26% and 30-day realised volatility was 44.03%.

Front end

Front-end ATM IV decreased, averaging -0.12 volatility points to 44.73% across 1W, 2W and 1M.

Long end

Six-month ATM IV was broadly unchanged at 52.38% (-0.13 volatility points); 1Y was unavailable.

Skew

RR25 moved towards calls, averaging +0.73 volatility points to -1.52 volatility points across the five available headline tenors.

Convexity

BF25 was broadly unchanged, averaging -0.03 volatility points to 3.10 volatility points across the five available headline tenors.

Largest standard-tenor move

The largest standard-tenor ATM IV move was -0.64 volatility points at 1W, to 42.04%.

24h spot-index return

ETH spot-index return was -0.59% over 24 hours.

7d spot-index return

ETH spot-index return was -5.91% over seven days.

Universe roll: no additions; removed 12OCT26. Comparisons use common expiries only.

05 · Standard-tenor ranking

Largest surface events

01

Largest eligible smile rotation

23OCT26, +3.38 vol pts
02

Largest standard-tenor RR25 move

2W, +1.11 vol pts
03

Largest standard-tenor ATM IV move

1W, -0.64 vol pts
04

Largest standard-tenor BF25 move

2W, -0.23 vol pts
05

Largest eligible SVI sigma move

15OCT26, -0.1040 param
06

Largest eligible SVI rho move

25DEC26, +0.0975 param

06 · ATM volatility

Standard-tenor ATM implied volatility.

TenorCurrent (vol %)Comparison snapshot (vol %)Change (vol pts)Relative change
1W42.0442.68-0.64 vol pts-1.50%
2W44.1044.15-0.05 vol pts-0.11%
1M48.0547.71+0.34 vol pts+0.71%
3M50.8150.71+0.10 vol pts+0.20%
6M52.3852.51-0.13 vol pts-0.25%
9M53.4253.32+0.10 vol pts+0.19%
1YUnavailableUnavailableUnavailableUnavailable

Source: Derivasys Research — structured data

07 · Risk reversals

RR25 skew moved most at 2W.

RR25 moved towards calls, averaging +0.73 volatility points to -1.52 volatility points across the five available headline tenors. Negative RR25 denotes a richer 25-delta put wing under the call-minus-put convention.

-4.6 vol pts-3.2 vol pts-1.8 vol pts-0.4 vol pts0.9 vol pts1W2W1M3M6M9M
TenorCurrent (vol pts)Comparison snapshot (vol pts)Change (vol pts)
1W-3.05-4.04+0.99 vol pts
2W-2.50-3.61+1.11 vol pts
1M-1.55-2.20+0.65 vol pts
3M-0.66-0.88+0.22 vol pts
6M0.17-0.52+0.69 vol pts
9M0.400.13+0.27 vol pts
1YUnavailableUnavailableUnavailable

Source: Derivasys Research — structured data

08 · Butterflies

BF25 convexity changed most at 2W.

BF25 was broadly unchanged, averaging -0.03 volatility points to 3.10 volatility points across the five available headline tenors. BF25 measures the average 25-delta wing premium over ATM IV.

2.5 vol pts2.8 vol pts3.1 vol pts3.3 vol pts3.6 vol pts1W2W1M3M6M9M
TenorCurrent (vol pts)Comparison snapshot (vol pts)Change (vol pts)
1W2.853.00-0.15 vol pts
2W2.702.93-0.23 vol pts
1M3.153.16-0.01 vol pts
3M3.423.34+0.08 vol pts
6M3.373.20+0.17 vol pts
9M3.023.05-0.03 vol pts
1YUnavailableUnavailableUnavailable

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

13OCT26, -23.85 vol pts
1.6d

Smile rotation

14OCT26, -6.03 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.

40.7%44.2%47.7%51.3%54.8%1W2W1M3M6M9M

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

ExpiryTime leftForward now (USD)Forward change (USD)ATM IV nowATM IV changeRR25 changeBF25 change
13OCT26Expiry effect0.6 days2,526.6-15.03 USD30.66%-7.88 vol pts-2.88 vol pts-1.42 vol pts
14OCT26Expiry effect1.6 days2,527.28-14.31 USD36.05%-4.08 vol pts-0.88 vol pts-0.66 vol pts
15OCT262.6 days2,527.04-15.41 USD41.19%-0.63 vol pts+0.08 vol pts+0.08 vol pts
16OCT263.6 days2,527.41-14.64 USD42.31%-0.04 vol pts-0.27 vol pts+0.15 vol pts
23OCT2610.6 days2,529.41-14.25 USD41.94%-0.99 vol pts+1.57 vol pts-0.35 vol pts
30OCT2617.6 days2,530.19-14.95 USD45.46%-0.14 vol pts+0.47 vol pts-0.05 vol pts
27NOV2645.6 days2,538.32-14.82 USD49.27%+0.37 vol pts+0.67 vol pts-0.05 vol pts
25DEC2673.6 days2,548.41-14.65 USD50.13%+0.21 vol pts-0.11 vol pts-0.03 vol pts
26MAR27164.6 days2,577.26-14.32 USD52.07%-0.23 vol pts+0.82 vol pts+0.28 vol pts
25JUN27255.6 days2,609.15-14.16 USD53.20%+0.06 vol pts+0.28 vol pts-0.02 vol pts
24SEP27346.6 days2,640.05-15.22 USD54.09%+0.18 vol pts+0.19 vol pts-0.01 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.

13OCT26rotation towards puts · wing steepening
-0.30k0.00k+0.30k
14OCT26rotation towards puts · wing steepening
-0.30k0.00k+0.30k
15OCT26rotation towards puts · wing steepening
-0.30k0.00k+0.30k
16OCT26rotation towards puts · wing steepening
-0.30k0.00k+0.30k
23OCT26rotation towards calls
-0.30k0.00k+0.30k
30OCT26rotation towards calls
-0.30k0.00k+0.30k
27NOV26rotation towards calls
-0.30k0.00k+0.30k
25DEC26parallel shift higher
-0.30k0.00k+0.30k
26MAR27parallel shift lower
-0.30k0.00k+0.30k
25JUN27limited movement
-0.30k0.00k+0.30k
24SEP27parallel shift higher
-0.30k0.00k+0.30k

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.

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 30-calendar-day fixed-tenor ATM IV uses ACT/365 implied-volatility convention. VIX-family closes come from yahoo_finance (^VIX, ^VIX9D, ^VIX3M); SPX RV comes from ^GSPC. Crypto RV uses 20 calendar-day close-to-close log returns and sqrt(365); SPX RV uses 20 US trading-session close-to-close log returns and sqrt(252). RV spread and ratio retain these mixed annualisation bases. Correlations use 30 or 60 aligned US-session daily returns. Percentiles use prior valid persisted observations. Alignment tolerance 600 seconds; crypto snapshot and benchmark timestamps both 2026-10-09T20:00:00Z. Ingested at 2026-10-09T22:30:50.075467Z.

Evidence, source data and methodology
Report comparison baseline → current snapshot
2026-10-11 16:30:00 UTC → 2026-10-12 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 · 12 Oct 2026, 16:30 UTC

The measurement behind the lead chart

ETH 2W RR25 -2.50 vol pts · Δ +1.11 vol pts

ETH percentile rank 66.7% by absolute move · 30-day window (n=30); 1-day moves sampled daily UTC; 2026-09-11 to 2026-10-11

Original report summary

Ether's 2W RR25 rose 1.11 volatility points to -2.50 volatility points versus the October 11 cutoff at 16:30 UTC. The October 12 reading remained negative, so 25-delta puts still carried higher implied volatility than calls despite the shift toward calls.

At report cutoff · Levels and stored endpoint changes

What matters now

Vol: ETH 1W ATM IV 42.04% · Δ -0.64 vol pts

Skew: ETH 1W RR25 -3.05 vol pts · Δ +0.99 vol pts

Relative value: ETH 1W IV 42.04% / 7D RV 37.82% · spread +4.22 vol pts

Vol

ETH 1W ATM IV 42.04% · Δ -0.64 vol ptspercentile rank 13.3% by absolute move · 30-day window (n=30); 1-day moves sampled daily UTC; 2026-09-11 to 2026-10-11

Skew

ETH 1W RR25 -3.05 vol pts · Δ +0.99 vol ptspercentile rank 53.3% by absolute move · 30-day window (n=30); 1-day moves sampled daily UTC; 2026-09-11 to 2026-10-11

Wings

ETH 1W BF25 2.85 vol pts · Δ -0.15 vol ptspercentile rank 23.3% by absolute move · 30-day window (n=30); 1-day moves sampled daily UTC; 2026-09-11 to 2026-10-11

IV versus RV

ETH 1W IV 42.04% / 7D RV 37.82% · spread +4.22 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 13.3% by absolute move · 30-day window (n=30); 1-day moves sampled daily UTC; 2026-09-11 to 2026-10-11

ETH 1W RR25: percentile rank 53.3% by absolute move · 30-day window (n=30); 1-day moves sampled daily UTC; 2026-09-11 to 2026-10-11

ETH 1W BF25: percentile rank 23.3% by absolute move · 30-day window (n=30); 1-day moves sampled daily UTC; 2026-09-11 to 2026-10-11

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 25DEC26; the largest sigma change occurred at 15OCT26.

ExpiryΔ aΔ bΔ rhoΔ mΔ sigmaSmile classification
13OCT26-0.06080-0.00350-0.05160-0.09200+0.53280rotation towards puts, wing steepening
14OCT260.00000-0.01270-0.03050-0.01960+0.04760rotation towards puts, wing steepening
15OCT26+0.02620-0.02350-0.00330+0.00800-0.10400rotation towards puts, wing steepening
16OCT26+0.01670-0.01000-0.03220-0.01350-0.06650rotation towards puts, wing steepening
23OCT26-0.01730+0.00620+0.07380+0.02720+0.07100rotation towards calls
30OCT26-0.01190+0.00600+0.07320+0.04280+0.03710rotation towards calls
27NOV26-0.00330-0.00400+0.09710+0.05140+0.01990rotation towards calls
25DEC26-0.00360-0.00400+0.09750+0.06730+0.02060parallel shift higher
26MAR27+0.02300-0.01110+0.04980+0.04040-0.08490parallel shift lower
25JUN27+0.03600-0.01350-0.02350-0.00920-0.08190limited movement
24SEP27+0.06330-0.04410+0.03780+0.07990-0.08690parallel 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, 9.913676 USD / vol pt
Highest Gamma13OCT26, 0.012241 1 / USD
Highest Theta Decay13OCT26, -10.062725 USD / day
Highest Vanna24SEP27, 0.001878 delta / vol pt
Highest Volga24SEP27, -0.012732 USD / vol pt²

7D realised volatility · data quality

AssetRecorded RVStatusCoverage / requiredLongest gap / maximum
ETH37.82%Available100% / 99.5% required0 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 12 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
12 Oct 2026, 16:30 UTC
Comparison snapshot
11 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.

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