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Daily ETH options market report · 24-hour comparison

Ether options show higher 1w ATM IV

ETH spot fell 4.50%; Skew moved toward puts (-2.30 vol points); Wing premium increased (+0.86 vol points).

By Sean Gordon — Derivasys Research

Published

Snapshot data and comparison

Snapshot · 24 Oct 2026, 16:31 UTC

Generated timestamp:

Scheduled edition reference: 2026-10-24 16:31:00 UTC. Native observations below retain their actual fit times.

Report comparison baseline → current snapshot
2026-10-23 16:31:00 UTC → 2026-10-24 16:31:00 UTC
Report native fit age at scheduled reference
0 minutes

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

  • ETHSpot-index 24h -4.50%1W ATM IV 55.02%1W RR25 -6.32 vol pts1W BF25 +3.60 vol pts1W IV − 7D RV +7.51 vol pts

Notable move: ETH 1W ATM IV Δ +9.75 vol pts → 55.02% · percentile rank 100.0% by absolute move · 1-day moves · full history (n=49).

1W ATM IV – selected tenor
Percent

1W ATM IV – selected tenor. Percent. ETH: Current 55.02, Previous 45.27.CurrentPreviousETH55.0245.270.0029.7159.42

Current: 24 Oct 2026, 16:31 UTC
Previous: 23 Oct 2026, 16:31 UTC

Ether options show higher 1w ATM IV. ATM implied-volatility term structure from Derivasys data.
Source: Derivasys options data. ATM implied-volatility; unsupported tenors remain blank. Cite this report.

View full-size chart

Plotted chart data
ATM IV, percent · 2026-10-24T16:31:00+00:00
TenorETH currentETH previous
1W55.0245.27
2W54.4248.68
1M51.7348.45
3M52.4250.74
6M53.0051.98
9M53.4552.75
1YUnavailableUnavailable
Chart download and reuse termsDownload 1280 × 720 chart · Reuse terms
Previous report, watch levels and methodology

Uses the stored headline’s selected tenor. Cutoffs 23 Oct, 16:31 UTC to 24 Oct, 16:31 UTC.

Previous publication · research context

2026-10-23: “Ether options show lower 1w ATM IV”

Previous publication cutoff 23 Oct, 16:31 UTC. Today’s market comparison starts at 23 Oct, 16:31 UTC. Snapshot clocks align for the measured comparison below.

Previous publication JSON · SHA-256 407f4162eac00053b4ccb91244c59eded821f4ce2ff8cba13261af0d05a9210f

Prior watch: measured outcome

Against the 2026-10-23 daily edition.

  • ETH 1W ATM IV: prior change -3.30 → current change +9.75 volatility points; direction reversed.
  • ETH spot-index return: prior change +0.60 → current change -4.50 percent; direction reversed.
  • ETH 1W RR25: prior change -0.50 → current change -2.30 volatility points; same direction.
  • ETH 1W BF25: prior change 0.00 → current change +0.86 volatility points; one or both windows unchanged.
  • ETH 1W ATM IV ≤ 45.27 percent (hold the observed endpoint) at 24 Oct, 16:31 UTC: not met (observed 55.02 percent).
  • ETH 1W ATM IV ≥ 48.57 percent (full retrace to the prior endpoint) at 24 Oct, 16:31 UTC: met (observed 55.02 percent).

Next daily cutoff: measurable checks

  • Hold the observed level: ETH 1W ATM IV ≥ 55.02 percent at . Current level 55.02; threshold is the current observed endpoint.
  • Full retrace: ETH 1W ATM IV ≤ 45.27 percent at . Current level 55.02; threshold is the previous observed endpoint.
Measurement basis and receipt

These are observed-level conditions for the next aligned cutoff, with no forecast or trade action. Spot uses exact index endpoints where available; ATM IV is quoted in percent and its change, RR25 and BF25 in volatility points. Stored editorial receipt independently reconstructed against native endpoints.

Canonical current report JSON · SHA-256 65ce97bfd6f1f194a455d5a2a6cf98f70b62a9a52cc717486d3f7674e3b3fbb0

Prior artifact: /v1/eth/daily/2026-10-23/407f4162eac00053b4ccb91244c59eded821f4ce2ff8cba13261af0d05a9210f.json · SHA-256 407f4162eac00053b4ccb91244c59eded821f4ce2ff8cba13261af0d05a9210f

Consumed endpoint proof: b6d4bd63b68208be85d3fbb8b1989e89f78d7fad9258e3c9c1bbb00bb6312df5

  • ETH:atmIv:1W:observed-current-level: rows[asset=ETH].report.tenors[tenor=1W].atmIv.previous; rows[asset=ETH].report.tenors[tenor=1W].atmIv.current; rows[asset=ETH].report.tenors[tenor=1W].atmIv.change; evaluation window 2026-10-24T16:31:00+00:00 to 2026-10-25T16:31:00+00:00.
  • ETH:atmIv:1W:observed-previous-level: rows[asset=ETH].report.tenors[tenor=1W].atmIv.previous; rows[asset=ETH].report.tenors[tenor=1W].atmIv.current; rows[asset=ETH].report.tenors[tenor=1W].atmIv.change; evaluation window 2026-10-24T16:31:00+00:00 to 2026-10-25T16:31:00+00:00.
Chart notes

01 · Daily briefing

Macro · Crypto · Options

The day in markets.

Smile rotation is the fitted IV change at +0.15 log-moneyness minus the change at −0.15, in volatility points. A positive reading indicates a relative shift toward the call side.

Ether options show higher 1W ATM IV

The 1W ATM IV change for ETH was +9.75 volatility points over the stored comparison. The Defiant reported in a headline excerpt (numerical details omitted): “Ether Falls Below […] as […] Loss Reaches […]”. This is background reporting; a direct link to the options observation is not established.

The Defiant reported in a headline excerpt (numerical details omitted): “Ether Falls Below […] as […] Loss Reaches […]”. This is background reporting; a direct link to the options observation is not established.

Macro

No qualifying macro event was retained for this report window.

Crypto

Selected canonical sources are retained below as context.

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 +9.75 volatility points, to 55.02%.

Derived directly from structured Derivasys surface data

03 · Catalyst check

23 Oct 2026, 16:31 UTC to 24 Oct 2026, 16:31 UTC

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 16:31 UTC cutoff, 1W ATM IV was 55.02%, 7.51 volatility points above seven-day realised volatility of 47.51%; 24-hour realised volatility was 45.81% and 30-day realised volatility was 43.90%.

Front end

Front-end ATM IV increased, averaging +6.26 volatility points to 53.72% across 1W, 2W and 1M.

Long end

Six-month ATM IV increased at 53.00% (+1.02 volatility points); 1Y was unavailable.

Skew

RR25 moved towards puts, averaging -1.45 volatility points to -4.11 volatility points across the five available headline tenors.

Convexity

BF25 increased, averaging +0.32 volatility points to 3.38 volatility points across the five available headline tenors.

Largest standard-tenor move

The largest standard-tenor ATM IV move was +9.75 volatility points at 1W, to 55.02%.

24h spot-index return

ETH spot-index return was -4.50% over 24 hours.

7d spot-index return

ETH spot-index return was -4.56% over seven days.

Universe roll: added 28OCT26; removed 24OCT26. Comparisons use common expiries only.

05 · Standard-tenor ranking

Largest surface events

01

Largest eligible smile rotation

27OCT26, -15.07 vol pts
02

Largest standard-tenor ATM IV move

1W, +9.75 vol pts
03

Largest standard-tenor RR25 move

2W, -2.45 vol pts
04

Largest standard-tenor BF25 move

1W, +0.86 vol pts
05

Largest eligible SVI sigma move

25JUN27, +0.1174 param
06

Largest eligible SVI rho move

24SEP27, -0.1035 param

06 · ATM volatility

Standard-tenor ATM implied volatility.

TenorCurrent (vol %)Comparison snapshot (vol %)Change (vol pts)Relative change
1W55.0245.27+9.75 vol pts+21.54%
2W54.4248.68+5.74 vol pts+11.79%
1M51.7348.45+3.28 vol pts+6.77%
3M52.4250.74+1.68 vol pts+3.31%
6M53.0051.98+1.02 vol pts+1.96%
9M53.4552.75+0.70 vol pts+1.33%
1YUnavailableUnavailableUnavailableUnavailable

Source: Derivasys Research — structured data

07 · Risk reversals

RR25 skew moved most at 2W.

RR25 moved towards puts, averaging -1.45 volatility points to -4.11 volatility points across the five available headline tenors. Negative RR25 denotes a richer 25-delta put wing under the call-minus-put convention.

-7.1 vol pts-5.1 vol pts-3.2 vol pts-1.3 vol pts0.6 vol pts1W2W1M3M6M9M
TenorCurrent (vol pts)Comparison snapshot (vol pts)Change (vol pts)
1W-6.32-4.02-2.30 vol pts
2W-6.22-3.77-2.45 vol pts
1M-4.60-3.01-1.59 vol pts
3M-2.25-1.67-0.58 vol pts
6M-1.15-0.80-0.35 vol pts
9M-0.36-0.11-0.25 vol pts
1YUnavailableUnavailableUnavailable

Source: Derivasys Research — structured data

08 · Butterflies

BF25 convexity changed most at 1W.

BF25 increased, averaging +0.32 volatility points to 3.38 volatility points across the five available headline tenors. BF25 measures the average 25-delta wing premium over ATM IV.

2.5 vol pts2.9 vol pts3.3 vol pts3.6 vol pts4.0 vol pts1W2W1M3M6M9M
TenorCurrent (vol pts)Comparison snapshot (vol pts)Change (vol pts)
1W3.602.74+0.86 vol pts
2W3.783.27+0.51 vol pts
1M3.363.05+0.31 vol pts
3M3.213.11+0.10 vol pts
6M2.953.12-0.17 vol pts
9M2.743.03-0.29 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

ATM IV change

25OCT26, +30.66 vol pts
1.6d

ATM IV change

26OCT26, +25.87 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.

44.1%47.1%50.1%53.2%56.2%1W2W1M3M6M9M

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

ExpiryTime leftForward now (USD)Forward change (USD)ATM IV nowATM IV changeRR25 changeBF25 change
25OCT26Expiry effect0.6 days2,295.98-105.90 USD58.99%+30.66 vol pts-5.19 vol pts+1.53 vol pts
26OCT26Expiry effect1.6 days2,296-106.17 USD56.15%+25.87 vol pts-4.17 vol pts+1.71 vol pts
27OCT262.6 days2,296.27-106.29 USD54.83%+18.30 vol pts-5.35 vol pts+1.47 vol pts
30OCT265.6 days2,297.04-106.11 USD55.15%+10.27 vol pts-2.10 vol pts+0.70 vol pts
6NOV2612.6 days2,298.69-106.01 USD54.79%+6.09 vol pts-2.79 vol pts+0.71 vol pts
13NOV2619.6 days2,300.02-106.53 USD53.42%+5.02 vol pts-2.21 vol pts+0.07 vol pts
27NOV2633.6 days2,302.97-106.84 USD51.37%+2.91 vol pts-1.45 vol pts+0.37 vol pts
25DEC2661.6 days2,311.48-107.25 USD51.96%+2.20 vol pts-0.84 vol pts+0.30 vol pts
26MAR27152.6 days2,338.02-108.86 USD52.80%+1.19 vol pts-0.38 vol pts-0.06 vol pts
25JUN27243.6 days2,368.74-109.58 USD53.27%+0.77 vol pts-0.34 vol pts-0.30 vol pts
24SEP27334.6 days2,397.33-111.10 USD53.72%+0.56 vol pts-0.15 vol pts-0.23 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.

25OCT26rotation towards puts · wing steepening
-0.30k0.00k+0.30k
26OCT26parallel shift higher · rotation towards puts · wing flattening
-0.30k0.00k+0.30k
27OCT26rotation towards puts · wing flattening
-0.30k0.00k+0.30k
30OCT26parallel shift higher · rotation towards puts
-0.30k0.00k+0.30k
6NOV26rotation towards puts
-0.30k0.00k+0.30k
13NOV26rotation towards puts · wing flattening
-0.30k0.00k+0.30k
27NOV26parallel shift higher · rotation towards puts
-0.30k0.00k+0.30k
25DEC26parallel shift higher · rotation towards puts
-0.30k0.00k+0.30k
26MAR27parallel shift higher
-0.30k0.00k+0.30k
25JUN27parallel shift higher
-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 2.5 times VIX, while its 30-session return correlation with SPX was mixed at 0.61.

Implied-volatility premium

ETH 30-day ATM IV was 48.74%, against VIX at 19.45: a 29.29-point spread and 2.51× ratio.

Daily-close realised-volatility regime

ETH reported crypto realised volatility was 42.15%, versus SPX reported realised volatility of 9.92%. The spread ranked at percentile rank 28.2% of 259 prior observations.

Equity co-movement

Return correlation with SPX was 0.612 over 30 aligned sessions and 0.292 over 60 sessions. VIX9D, VIX and VIX3M closed at 18.70, 19.45 and 20.48.

RV comparison basis unverified: this edition does not record the recognised provider methodology for both horizons and annualisation conventions. The displayed spread rank does not establish matched-horizon comparability.

As of 23 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

RV observation windows and sampling

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.

Evidence, source data and methodology

Scheduled edition reference: 2026-10-24 16:31:00 UTC. Native observations below retain their actual fit times.

Report comparison baseline → current snapshot
2026-10-23 16:31:00 UTC → 2026-10-24 16:31:00 UTC
Report native fit age at scheduled reference
0 minutes

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

Lead signal · 24 Oct 2026, 16:31 UTC

The measurement behind the lead chart

ETH 1W ATM IV 55.02% · Δ +9.75 vol pts

ETH percentile rank 100.0% by absolute move · full history (n=49); 1-day moves sampled daily UTC; 2026-08-29 to 2026-10-23

Original report summary

ETH 1W ATM IV is 55.02 percent, compared with 45.27 percent at the prior cutoff. The diary separates sourced context from measured market changes; the timing of an event alone does not establish a causal link.

At report cutoff · Levels and stored endpoint changes

What matters now

Vol: ETH 1W ATM IV 55.02% · Δ +9.75 vol pts

Skew: ETH 1W RR25 -6.32 vol pts · Δ -2.30 vol pts

Relative value: ETH 1W IV 55.02% / 7D RV 47.51% · spread +7.51 vol pts

Vol

ETH 1W ATM IV 55.02% · Δ +9.75 vol ptspercentile rank 100.0% by absolute move · full history (n=49); 1-day moves sampled daily UTC; 2026-08-29 to 2026-10-23

Skew

ETH 1W RR25 -6.32 vol pts · Δ -2.30 vol ptspercentile rank 76.9% by absolute move · 30-day window (n=26); 1-day moves sampled daily UTC; 2026-09-23 to 2026-10-23

Wings

ETH 1W BF25 3.60 vol pts · Δ +0.86 vol ptspercentile rank 92.3% by absolute move · 30-day window (n=26); 1-day moves sampled daily UTC; 2026-09-23 to 2026-10-23

IV versus RV

ETH 1W IV 55.02% / 7D RV 47.51% · spread +7.51 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 100.0% by absolute move · full history (n=49); 1-day moves sampled daily UTC; 2026-08-29 to 2026-10-23

ETH 1W RR25: percentile rank 76.9% by absolute move · 30-day window (n=26); 1-day moves sampled daily UTC; 2026-09-23 to 2026-10-23

ETH 1W BF25: percentile rank 92.3% by absolute move · 30-day window (n=26); 1-day moves sampled daily UTC; 2026-09-23 to 2026-10-23

Technical appendix: measurement and history provenance

Download the full canonical report and evidence receipts (JSON). Artifact SHA-256: 65ce97bfd6f1f194a455d5a2a6cf98f70b62a9a52cc717486d3f7674e3b3fbb0.

Daily options-surface context: active. Quiet describes only daily options-surface movements under the stored operational policy; it makes no weekly stabilization claim.

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 atmIvmove30d26 samples; 1 days; daily UTC observations2026-09-23 → 2026-10-23
2026-09-23T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:f554bdc4831cc097e252f8db8a5a191af84e0b20bf4d14d3d43da05e803c2946
ETH 1W atmIvmoveFullHistory49 samples; 1 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:3ff138fe8de30ba09a16e1a274bdaf6bd4188153fdfa9eabc3fa285909f949fe
ETH 1W atmIvlevelFullHistory53 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:9b8a97786399d4bca490df0cb6b90fee9022a31753ac438dab2328d520bb071c
ETH 1W bf25move30d26 samples; 1 days; daily UTC observations2026-09-23 → 2026-10-23
2026-09-23T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:4ef56c5f1f551df13552aeb5b386103651dac2e07c7dc11a61b73509ceab1e29
ETH 1W bf25moveFullHistory49 samples; 1 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:8d9531d45223220ceea902458a75ee65354747f499662d384bf86905c1c72587
ETH 1W bf25levelFullHistory53 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:874e815f16b13c51dd5176f135de6155d5e8be04cddd31ed3362ee76a19046e4
ETH 1W rr25move30d26 samples; 1 days; daily UTC observations2026-09-23 → 2026-10-23
2026-09-23T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:6dd57246557417829bd8d9ca0b6fa160c64e9f214b06cc6aee9a4c32888a28ef
ETH 1W rr25moveFullHistory49 samples; 1 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:98a27625aa869f42c28efe3ba152666baa28d9288bc59b9da10f6924010f9cff
ETH 1W rr25levelFullHistory53 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:e0136177523abf4015f89610a27078baa4dbe8b73501dda6c83556badf9a05b9
ETH 2W atmIvmove30d26 samples; 1 days; daily UTC observations2026-09-23 → 2026-10-23
2026-09-23T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:2a5b22c3f40b4433d4cf89d7130e3ed1903c3b13e1578d986d2852a192c7a115
ETH 2W atmIvmoveFullHistory49 samples; 1 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:b1c91fcec4260ae3d37be85afb4ee0e5c2ee94e0f4eccf694cbc6144d2ed5a93
ETH 2W atmIvlevelFullHistory53 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:6bde91a8283339a9c0e396ed74f6dab0bcd13ac995e47c1d1fbe8fb00333c8bd
ETH 2W bf25move30d26 samples; 1 days; daily UTC observations2026-09-23 → 2026-10-23
2026-09-23T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:79bf3360b80cee8a4230fe64883d1ad4c8a62bed0593da50a96078ef27c3b4fe
ETH 2W bf25moveFullHistory49 samples; 1 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:c2675275d17c409fbe48809c3a1e537039cfa52c38921a97bf1a61253be07045
ETH 2W bf25levelFullHistory53 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:3ecb973a0e15487122fc8fbaed36763db8200f465c4600d6447be35f7c5454cc
ETH 2W rr25move30d26 samples; 1 days; daily UTC observations2026-09-23 → 2026-10-23
2026-09-23T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:910060620a2b1f944819c14c8464e81bff768a409043b984f10071ba952bbbf4
ETH 2W rr25moveFullHistory49 samples; 1 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:3fcfb7e941f507722c36052bbb75c58aafc103528c3629b20647ae0ba4bca945
ETH 2W rr25levelFullHistory53 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:4c5008b58eb04f5a67bca918bea78dc5be6c860ab7878ce894a1daa7e47b1d12
ETH 1M atmIvmove30d26 samples; 1 days; daily UTC observations2026-09-23 → 2026-10-23
2026-09-23T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:1b205922343d9dec17d7a8ee7c93b2653b2c5124cd0bf931fe3eb774378e6c0d
ETH 1M atmIvmoveFullHistory49 samples; 1 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:830ee8b789c2fb64cfc860b777dceb9a86f87a38b3599b76253125c0b3386527
ETH 1M atmIvlevelFullHistory53 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:55f5039620d17ea6842dd8b42798601db72d05c4400a8b64c38b0dfcdd5e028b
ETH 1M bf25move30d26 samples; 1 days; daily UTC observations2026-09-23 → 2026-10-23
2026-09-23T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:d2325222ee762c16eb35af7278dc52f27495c9fc5f108249ed50a873142dd9ca
ETH 1M bf25moveFullHistory49 samples; 1 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:9e817d2dea7a32273da9a59921949eea1e8df5c35764d376de00a9dc8bfeed27
ETH 1M bf25levelFullHistory53 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:6d5ca682742f1e6ca7389d48b70261aab50d416c2a9885f4b4c51c6fe36c796a
ETH 1M rr25move30d26 samples; 1 days; daily UTC observations2026-09-23 → 2026-10-23
2026-09-23T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:a76d8950a592404f5f35191081ff0eab5a18d49ed88ee9d4922849a13e8c6acb
ETH 1M rr25moveFullHistory49 samples; 1 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:d7c389a0e8ffe715d4e4dba62f591ac894bf91068ed1ccacf43c4bef10129958
ETH 1M rr25levelFullHistory53 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:007bff4d5ff2e58c19ab7f42557431f5fcc3e783ad224ce0fe7ecabc37894a68
ETH 3M atmIvmove30d26 samples; 1 days; daily UTC observations2026-09-23 → 2026-10-23
2026-09-23T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:7917682c2e9cf9a763c7d5c8d85979604870c60414263617551d66b7eb35edbe
ETH 3M atmIvmoveFullHistory49 samples; 1 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:48df53af2f60e3a82047dd076b2796b696991bc572f480dc8552d98a7032cc6f
ETH 3M atmIvlevelFullHistory53 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:76ddbe09e77608d480940a2ab3dbf03fa06a4d0657ba335b98c403a6937e181a
ETH 3M bf25move30d26 samples; 1 days; daily UTC observations2026-09-23 → 2026-10-23
2026-09-23T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:5926a1e163929af9f0cbf312db4dcd0d5630544faf5b4751226ed75b25260719
ETH 3M bf25moveFullHistory49 samples; 1 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:7eb837a0e127c29ae507967a1dc0268379081232e98509553bfdc84d449d5bcb
ETH 3M bf25levelFullHistory53 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:74c1001100d088ab4a83b6ecf6e7e10b591637e427c3441f95273ff8564ddf82
ETH 3M rr25move30d26 samples; 1 days; daily UTC observations2026-09-23 → 2026-10-23
2026-09-23T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:e9accc697450920acd9f7f749002f74928ffcb136b74620c9bf2170a6c78560b
ETH 3M rr25moveFullHistory49 samples; 1 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:0a02dbe4d3b391e599178349aed2cc5499321c8119b01473a42bd5c0bbd5b18c
ETH 3M rr25levelFullHistory53 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:f214c5c31f45103d1465c6f9651b0df492dd8d738329643026ed3665298b7380
ETH 6M atmIvmove30d26 samples; 1 days; daily UTC observations2026-09-23 → 2026-10-23
2026-09-23T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:f75f969582ae6a7bda49951c19c770815618bd6fa77715fc61322a2d80a04b82
ETH 6M atmIvmoveFullHistory49 samples; 1 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:73e6a86ec994f139bab9d980b5f16dea62a794afb7c86031c7ada2caad434267
ETH 6M atmIvlevelFullHistory53 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:0b15df9074c27d7154927f150e61c645f0ca77412010f9025adad13c43dab53a
ETH 6M bf25move30d26 samples; 1 days; daily UTC observations2026-09-23 → 2026-10-23
2026-09-23T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:7966f2bdc8508fec02c8c957374849bf30af60842efd4ddd410917e4aebc620d
ETH 6M bf25moveFullHistory49 samples; 1 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:dda6a87474c0eaa1c1c167defc56aebd52c528b4695b7b0254713b206ca75329
ETH 6M bf25levelFullHistory53 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:e0affcbeb24b0ea42cb9bb98b6520261635ee73a783044be2556635513e3f451
ETH 6M rr25move30d26 samples; 1 days; daily UTC observations2026-09-23 → 2026-10-23
2026-09-23T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:e6d6bc8a4e4c5c2a57540233e78847d1ce5180a94d25ccecbc1bd2bd38abeda8
ETH 6M rr25moveFullHistory49 samples; 1 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:bdc15dc615f8099920b3190b73a0a5a80e97d1dd4b1f40c0994c80b06303eb15
ETH 6M rr25levelFullHistory53 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:1b6c65a2a18a70705078cd3846a90cbe4207f771129d8e2954ef6783e557138b
ETH 9M atmIvmove30d26 samples; 1 days; daily UTC observations2026-09-23 → 2026-10-23
2026-09-23T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:9fa202215d7d9c7a018ccdc9c0c81b5cefb0ad99bbb896e555b9373ff4bf3cf3
ETH 9M atmIvmoveFullHistory49 samples; 1 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:fb4761424d90ef405ec4705c36b21e19d3713cc83131423984b2009617b2fb54
ETH 9M atmIvlevelFullHistory53 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:4f6c8f0b45ec88e7b927d4ef75737b3a1eea1b300cae3ef6d04b8bb5fb447816
ETH 9M bf25move30d26 samples; 1 days; daily UTC observations2026-09-23 → 2026-10-23
2026-09-23T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:d6fe741797fa345e733d1acc651b3a93db59ac89492eb4b22db399bd091a471a
ETH 9M bf25moveFullHistory49 samples; 1 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:c06fc0a8acc6ab02ef2f3dc38b3873dec1fae4e35fbfb9c06433bd79287a3ca5
ETH 9M bf25levelFullHistory53 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:1cfc6c4f2b01d5151fbaf69d17dcd2644cfa5b7258787514b7b500ef3bbfdaf2
ETH 9M rr25move30d26 samples; 1 days; daily UTC observations2026-09-23 → 2026-10-23
2026-09-23T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:c5f252e4a378196551e80ee1d601e4a2fe8a21df6335b09840836a12679dfe78
ETH 9M rr25moveFullHistory49 samples; 1 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:3beeb63e72094beb089518cc0fe167ce4ccefccc1fb3caadf27a6907d2ba3dee
ETH 9M rr25levelFullHistory53 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-23
2026-08-29T16:31:00+00:00 → 2026-10-23T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:4861bb5554520f04f8bd943ca4e31f9f0cb5e8d80424e5419eebb7926b584f7a
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 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
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

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 24SEP27; the largest sigma change occurred at 25JUN27.

ExpiryΔ aΔ bΔ rhoΔ mΔ sigmaSmile classification
25OCT26+0.04150-0.04860-0.09510-0.03030-0.08520rotation towards puts, wing steepening
26OCT26+0.04570-0.04740-0.10430-0.01750-0.13020parallel shift higher, rotation towards puts, wing flattening
27OCT26+0.03630-0.03700-0.03300+0.01910-0.10090rotation towards puts, wing flattening
30OCT26+0.03800-0.02250+0.07320+0.06940-0.11210parallel shift higher, rotation towards puts
6NOV26+0.03060-0.01590+0.03880+0.05160-0.10210rotation towards puts
13NOV26+0.01220-0.01490+0.04270+0.06330+0.00010rotation towards puts, wing flattening
27NOV26+0.03050-0.01500+0.04240+0.05400-0.09940parallel shift higher, rotation towards puts
25DEC26+0.01520-0.00320-0.01630+0.00850-0.05070parallel shift higher, rotation towards puts
26MAR27+0.00460-0.00350-0.01500+0.00040+0.01460parallel shift higher
25JUN27-0.03590+0.01870-0.07130-0.10250+0.11740parallel shift higher
24SEP27-0.02380+0.02730-0.10350-0.14480+0.05540parallel 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 Gamma25OCT26, 0.007006 1 / USD
Highest Theta Decay25OCT26, -17.604093 USD / day
Highest Vanna24SEP27, 0.001848 delta / vol pt
Highest Vega24SEP27, 8.859726 USD / vol pt
Highest Volga24SEP27, -0.010909 USD / vol pt²

7D realised volatility · data quality

AssetRecorded RVStatusCoverage / requiredLongest gap / maximum
ETH47.51%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 24 Oct 2026, 16:31:00 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.

30d: complete; 43200/43200 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.

Source data JSON

13 · Methodology and provenance

Generated from measured Derivasys surface data.

Current snapshot
24 Oct 2026, 16:31 UTC
Comparison snapshot
23 Oct 2026, 16:31 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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