Derivasys
Open Dashboard

Daily ETH options market report · 24-hour comparison

Ether options see one-month implied volatility fall 0.72 points to 49.02%

ETH spot fell 0.77%; Skew moved toward calls (+0.50 vol points); Wing premium increased (+0.08 vol points).

By Sean Gordon — Derivasys Research

Published

Snapshot data and comparison

Snapshot · 28 Oct 2026, 17:31 UTC

Generated timestamp:

Scheduled edition reference: 2026-10-28 17:31:00 UTC. Native observations below retain their actual fit times.

Report comparison baseline → current snapshot
2026-10-27 17:31:00 UTC → 2026-10-28 17:31:00 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 -0.77%1W ATM IV 49.76%1W RR25 -4.31 vol pts1W BF25 +3.57 vol pts1W IV − 7D RV +5.93 vol pts

Lead move: ETH 1M ATM IV Δ -0.72 vol pts → 49.02% · percentile rank 38.0% by absolute move · 1-day moves · full history (n=50).

1M ATM IV – selected tenor
Percent

1M ATM IV – selected tenor. Percent. ETH: Current 49.02, Previous 49.74.CurrentPreviousETH49.0249.740.0026.8653.72

Current: 28 Oct 2026, 17:31 UTC
Previous: 27 Oct 2026, 17:31 UTC

Ether options see one-month implied volatility fall 0.72 points to 49.02%. 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 · 2026-10-28T17:31:00+00:00
TenorETH currentETH previous
1W49.7650.22
2W49.7550.23
1M49.0249.74
3M51.2051.53
6M52.3252.45
9M53.0153.07
1YUnavailableUnavailable

The 1M ATM IV change for ETH was -0.72 volatility points over the stored comparison. No news item was selected for this report date.

Chart download and reuse termsDownload 1280 × 720 chart · Reuse terms
Previous report, watch levels and methodology

Uses the stored headline’s selected tenor. Cutoffs 27 Oct, 17:31 UTC to 28 Oct, 17:31 UTC.

Previous publication · research context

2026-10-27: “Ether options show lower 1m RR25 skew”

Previous publication cutoff 27 Oct, 17:31 UTC. Today’s market comparison starts at 27 Oct, 17:31 UTC. Snapshot clocks align for the measured comparison below.

Previous publication JSON · SHA-256 2640f5e633499810ffa29df83d4baed021b2f4285caa0d6b073f289907271eb3

Prior watch: measured outcome

Against the 2026-10-27 daily edition.

  • ETH 1M ATM IV: prior change -0.37 → current change -0.72 volatility points; same direction.
  • ETH spot-index return: prior change +1.23 → current change -0.77 percent; direction reversed.
  • ETH 1M RR25: prior change -1.11 → current change +0.50 volatility points; direction reversed.
  • ETH 1M BF25: prior change +0.19 → current change +0.08 volatility points; same direction.
  • ETH 1M RR25 ≤ -3.87 volatility points (hold the observed endpoint) at 28 Oct, 17:31 UTC: not met (observed -3.37 volatility points).
  • ETH 1M RR25 ≥ -2.76 volatility points (full retrace to the prior endpoint) at 28 Oct, 17:31 UTC: not met (observed -3.37 volatility points).

Next daily cutoff: measurable checks

  • Hold the observed level: ETH 1M ATM IV ≤ 49.02 percent at . Current level 49.02; threshold is the current observed endpoint.
  • Full retrace: ETH 1M ATM IV ≥ 49.74 percent at . Current level 49.02; 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 bb9249ea3fd233588a4cd92cdc36e7e2cae17ab872e5352a0ea7074f32da60d6

Prior artifact: /v1/eth/daily/2026-10-27/2640f5e633499810ffa29df83d4baed021b2f4285caa0d6b073f289907271eb3.json · SHA-256 2640f5e633499810ffa29df83d4baed021b2f4285caa0d6b073f289907271eb3

Consumed endpoint proof: 5546583b2c74dc1796a1ec95ebaef67a0cde067e48796bd64915c06fe68012fc

  • ETH:atmIv:1M:observed-current-level: rows[asset=ETH].report.tenors[tenor=1M].atmIv.previous; rows[asset=ETH].report.tenors[tenor=1M].atmIv.current; rows[asset=ETH].report.tenors[tenor=1M].atmIv.change; evaluation window 2026-10-28T17:31:00+00:00 to 2026-10-29T17:31:00+00:00.
  • ETH:atmIv:1M:observed-previous-level: rows[asset=ETH].report.tenors[tenor=1M].atmIv.previous; rows[asset=ETH].report.tenors[tenor=1M].atmIv.current; rows[asset=ETH].report.tenors[tenor=1M].atmIv.change; evaluation window 2026-10-28T17:31:00+00:00 to 2026-10-29T17:31:00+00:00.
Chart notes

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 1M at -0.72 volatility points, to 49.02%.

Derived directly from structured Derivasys surface data

03 · Catalyst check

27 Oct 2026, 17:31 UTC to 28 Oct 2026, 17:31 UTC

No catalyst assigned.

No qualifying context was found in the monitored news sources for this reporting window.

04 · Detailed analysis

What changed across the ETH volatility surface.

Implied versus realised

At the 17:31 UTC cutoff, 1W ATM IV was 49.76%, 5.93 volatility points above seven-day realised volatility of 43.83%; 24-hour realised volatility was 37.47% and 30-day realised volatility was 44.37%.

Front end

Front-end ATM IV decreased, averaging -0.55 volatility points to 49.51% across 1W, 2W and 1M.

Long end

Six-month ATM IV was broadly unchanged at 52.32% (-0.13 volatility points); 1Y was unavailable.

Skew

RR25 moved towards calls, averaging +0.11 volatility points to -2.95 volatility points across the five available headline tenors.

Convexity

BF25 increased, averaging +0.16 volatility points to 3.46 volatility points across the five available headline tenors.

Largest standard-tenor move

The largest standard-tenor ATM IV move was -0.72 volatility points at 1M, to 49.02%.

24h spot-index return

ETH spot-index return was -0.77% over 24 hours.

7d spot-index return

ETH spot-index return was -7.19% over seven days.

Universe roll: added 1NOV26; removed 28OCT26. Comparisons use common expiries only.

05 · Standard-tenor ranking

Largest surface events

01

Largest eligible smile rotation

31OCT26, -4.73 vol pts
02

Largest standard-tenor ATM IV move

1M, -0.72 vol pts
03

Largest standard-tenor RR25 move

1M, +0.50 vol pts
04

Largest standard-tenor BF25 move

2W, +0.38 vol pts
05

Largest eligible SVI sigma move

24SEP27, -0.1267 param
06

Largest eligible SVI rho move

13NOV26, -0.1249 param

06 · ATM volatility

Standard-tenor ATM implied volatility.

TenorCurrent (vol %)Comparison snapshot (vol %)Change (vol pts)Relative change
1W49.7650.22-0.46 vol pts-0.92%
2W49.7550.23-0.48 vol pts-0.96%
1M49.0249.74-0.72 vol pts-1.45%
3M51.2051.53-0.33 vol pts-0.64%
6M52.3252.45-0.13 vol pts-0.25%
9M53.0153.07-0.06 vol pts-0.11%
1YUnavailableUnavailableUnavailableUnavailable

Source: Derivasys Research — structured data

07 · Risk reversals

RR25 skew moved most at 1M.

RR25 moved towards calls, averaging +0.11 volatility points to -2.95 volatility points across the five available headline tenors. Negative RR25 denotes a richer 25-delta put wing under the call-minus-put convention.

-4.9 vol pts-3.6 vol pts-2.3 vol pts-1.0 vol pts0.3 vol pts1W2W1M3M6M9M
TenorCurrent (vol pts)Comparison snapshot (vol pts)Change (vol pts)
1W-4.31-4.43+0.12 vol pts
2W-3.75-4.15+0.40 vol pts
1M-3.37-3.87+0.50 vol pts
3M-2.17-1.89-0.28 vol pts
6M-1.15-0.94-0.21 vol pts
9M-0.48-0.22-0.26 vol pts
1YUnavailableUnavailableUnavailable

Source: Derivasys Research — structured data

08 · Butterflies

BF25 convexity changed most at 2W.

BF25 increased, averaging +0.16 volatility points to 3.46 volatility points across the five available headline tenors. BF25 measures the average 25-delta wing premium over ATM IV.

2.6 vol pts2.9 vol pts3.2 vol pts3.5 vol pts3.8 vol pts1W2W1M3M6M9M
TenorCurrent (vol pts)Comparison snapshot (vol pts)Change (vol pts)
1W3.573.53+0.04 vol pts
2W3.613.23+0.38 vol pts
1M3.513.43+0.08 vol pts
3M3.433.25+0.18 vol pts
6M3.193.08+0.11 vol pts
9M2.922.82+0.10 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.

1.6d

Smile rotation

30OCT26, -10.33 vol pts
0.6d

Smile rotation

29OCT26, -6.21 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.

48.5%49.8%51.0%52.3%53.6%1W2W1M3M6M9M

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

ExpiryTime leftForward now (USD)Forward change (USD)ATM IV nowATM IV changeRR25 changeBF25 change
29OCT26Expiry effect0.6 days2,331.66-17.80 USD51.49%+3.04 vol pts-0.36 vol pts-0.62 vol pts
30OCT26Expiry effect1.6 days2,332-17.78 USD48.82%-0.59 vol pts-1.84 vol pts-0.40 vol pts
31OCT262.6 days2,332.34-17.74 USD47.50%+0.16 vol pts-0.84 vol pts-0.74 vol pts
6NOV268.6 days2,333.78-17.47 USD51.04%+0.02 vol pts+0.21 vol pts+0.19 vol pts
13NOV2615.6 days2,334.97-17.81 USD49.53%-0.43 vol pts+0.33 vol pts+0.49 vol pts
27NOV2629.6 days2,338.59-17.58 USD48.99%-0.74 vol pts+0.50 vol pts+0.06 vol pts
25DEC2657.6 days2,347.3-17.38 USD50.11%-0.60 vol pts-0.57 vol pts+0.41 vol pts
26MAR27148.6 days2,372.04-18.49 USD51.91%-0.20 vol pts-0.13 vol pts+0.05 vol pts
25JUN27239.6 days2,402.16-19.29 USD52.76%-0.08 vol pts-0.30 vol pts+0.18 vol pts
24SEP27330.6 days2,432.05-19.29 USD53.32%-0.06 vol pts-0.24 vol pts+0.02 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.

29OCT26rotation towards puts · wing steepening
-0.30k0.00k+0.30k
30OCT26rotation towards puts · wing steepening
-0.30k0.00k+0.30k
31OCT26rotation towards puts · wing steepening
-0.30k0.00k+0.30k
6NOV26wing steepening
-0.30k0.00k+0.30k
13NOV26wing steepening
-0.30k0.00k+0.30k
27NOV26mixed reshaping
-0.30k0.00k+0.30k
25DEC26rotation towards puts
-0.30k0.00k+0.30k
26MAR27parallel shift lower
-0.30k0.00k+0.30k
25JUN27limited movement
-0.30k0.00k+0.30k
24SEP27limited movement
-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 2.9 times VIX, while its 30-session return correlation with SPX was mixed at 0.55.

Implied-volatility premium

ETH 30-day ATM IV was 50.00%, against VIX at 17.52: a 32.48-point spread and 2.85× ratio.

Daily-close realised-volatility regime

ETH reported crypto realised volatility was 39.68%, versus SPX reported realised volatility of 10.12%. The spread ranked at percentile rank 19.9% of 261 prior observations.

Equity co-movement

Return correlation with SPX was 0.552 over 30 aligned sessions and 0.309 over 60 sessions. VIX9D, VIX and VIX3M closed at 16.65, 17.52 and 19.57.

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 27 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: 2026-10-28 17:31:00 UTC. Native observations below retain their actual fit times.

Report comparison baseline → current snapshot
2026-10-27 17:31:00 UTC → 2026-10-28 17:31:00 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 · 28 Oct 2026, 17:31 UTC

The measurement behind the lead chart

ETH 1M ATM IV 49.02% · Δ -0.72 vol pts

ETH percentile rank 38.0% by absolute move · full history (n=50); 1-day moves sampled daily UTC; 2026-08-30 to 2026-10-27

Original report summary

ETH 1M ATM IV is 49.02 percent, compared with 49.74 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 49.76% · Δ -0.46 vol pts

Skew: ETH 1W RR25 -4.31 vol pts · Δ +0.12 vol pts

Relative value: ETH 1W IV 49.76% / 7D RV 43.83% · spread +5.93 vol pts

Vol

ETH 1W ATM IV 49.76% · Δ -0.46 vol ptspercentile rank 8.3% by absolute move · 30-day window (n=24); 1-day moves sampled daily UTC; 2026-10-01 to 2026-10-27

Skew

ETH 1W RR25 -4.31 vol pts · Δ +0.12 vol ptspercentile rank 10.0% by absolute move · full history (n=50); 1-day moves sampled daily UTC; 2026-08-30 to 2026-10-27

Wings

ETH 1W BF25 3.57 vol pts · Δ +0.04 vol ptspercentile rank 14.0% by absolute move · full history (n=50); 1-day moves sampled daily UTC; 2026-08-30 to 2026-10-27

IV versus RV

ETH 1W IV 49.76% / 7D RV 43.83% · spread +5.93 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 8.3% by absolute move · 30-day window (n=24); 1-day moves sampled daily UTC; 2026-10-01 to 2026-10-27

ETH 1W RR25: percentile rank 10.0% by absolute move · full history (n=50); 1-day moves sampled daily UTC; 2026-08-30 to 2026-10-27

ETH 1W BF25: percentile rank 14.0% by absolute move · full history (n=50); 1-day moves sampled daily UTC; 2026-08-30 to 2026-10-27

Technical appendix: measurement and history provenance

Download the full canonical report and evidence receipts (JSON). Artifact SHA-256: bb9249ea3fd233588a4cd92cdc36e7e2cae17ab872e5352a0ea7074f32da60d6.

Ether options see one-month implied volatility fall 0.72 points to 49.02% 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 atmIvmove30d24 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-27
2026-10-01T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:ad41a0e99f79fdb789df1ae3dac0b729eea3dffcbf18824d1ad1bd49bc7cb9eb
ETH 1W atmIvmoveFullHistory50 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:0f25c0ef6ba8cd107ca0bc7230006366a1c87bea9fbae28493547f513ebca016
ETH 1W atmIvlevelFullHistory55 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:7b475fc3ebf3e473e4e3249c7166c5d0e07a9170914294d9ee229d1a6baf72a7
ETH 1W bf25move30d24 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-27
2026-10-01T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:b5720db81ab475c41bf7beb6aa009c9bc202d2b5cab567980f001c79c1c3761b
ETH 1W bf25moveFullHistory50 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:c5f83c28e0fb7b4114ddd90db17fb412fddbac238ad678f6ee617a08011be9d0
ETH 1W bf25levelFullHistory55 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:a3b8be2950575274488681f673191ba16843bff951b8a69008b9257d6b12d895
ETH 1W rr25move30d24 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-27
2026-10-01T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:396597372ff59a5f86abc97ccd1dcf4358e3d73cad0663fc2faeff571bd20604
ETH 1W rr25moveFullHistory50 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:5d1c05a58b75feed3e98fea641c9460655f903609562794c13a1174f1af603d6
ETH 1W rr25levelFullHistory55 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:a50b726d9cce4b0518119f83604f544555fe43fee9cc39c01cf8dd77d28f9bc9
ETH 2W atmIvmove30d24 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-27
2026-10-01T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:c73545526bc492f3c6f0425e52f09753009799d5b7cd8d575db7e16ce9e39b17
ETH 2W atmIvmoveFullHistory50 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:ced79478638ed7bf87969f782cb9afc75cadeb17ae3d87dbd2ea26c813051f20
ETH 2W atmIvlevelFullHistory55 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:463ddd695e93d25b6a28a1dff9d5ef04e90b0ccd727985de359669564415889b
ETH 2W bf25move30d24 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-27
2026-10-01T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:8ecbddd1d58453d770db9137ce25e9ec51d434e079876b6815cbc8a5e0e8478a
ETH 2W bf25moveFullHistory50 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:43e06b8fa56923f63377c3dfb1cae4c165086c74c611650e8b87fb21edfb457a
ETH 2W bf25levelFullHistory55 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:d6142b871d31bd871265ec0b965f005c3c33cc52a7d548b39bda84d8c2d4d5fb
ETH 2W rr25move30d24 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-27
2026-10-01T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:ba4d8b14b9ae9c97c90fd8abd7a3bc4230571fe524846d09cb974829f416774f
ETH 2W rr25moveFullHistory50 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:a05c62bbd5212f9627c4be3baf2417210644c1c057bbd3b838bcd1e22a62ff93
ETH 2W rr25levelFullHistory55 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:e79761531dce289aae674bc09dbcfb0f120a96b1e2885da2f25e9be63f5b0716
ETH 1M atmIvmove30d24 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-27
2026-10-01T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:dfa54cb87ef798f683708258531210cc0561eb8a70774b34defb8a49f17beb9f
ETH 1M atmIvmoveFullHistory50 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:18c7bae5879ac43e800bd6a1648b26178499448633ef886ee45c93c0b2d9cafb
ETH 1M atmIvlevelFullHistory55 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:53813c48e1beb6cd2bb2deb0f97a468baef4ca57e7d43a52e591da678bb48b48
ETH 1M bf25move30d24 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-27
2026-10-01T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:b4dd8010fca8f287dcccc31be11e39283bd7cbd7585ad3c774771ceb6a2379ed
ETH 1M bf25moveFullHistory50 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:970aa0472c1d8a53b41d508192881bc643871b71cbef44e5820dae7e8a60995f
ETH 1M bf25levelFullHistory55 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:27615c28f5946db6b46934f7dcd1a7a4fae372124a57ee0b4c326812886d1b58
ETH 1M rr25move30d24 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-27
2026-10-01T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:1dae2c77e01e7f622d8574fabcff172a075ee1c1b672203f1e8daa56a5599c93
ETH 1M rr25moveFullHistory50 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:df0820f70a028fbf0125d8edbc472d81dc7e3756bfa629276b9f254095e51880
ETH 1M rr25levelFullHistory55 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:6a8492769edc2aa790257352faaccc14091ac07243e4c31bc3f1201ee167c2a7
ETH 3M atmIvmove30d24 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-27
2026-10-01T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:31107e17806f62eb5020171efe337a3e7749c73587c013a1ed86a16b47c60f3e
ETH 3M atmIvmoveFullHistory50 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:249a3a53e492882abebd53fe3d9711be3a8b8eec7a35bed0987024b70a12e729
ETH 3M atmIvlevelFullHistory55 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:8e00e17797a7632d55004a54a1778bf46141e350a579b1165524fbe240ce4cfc
ETH 3M bf25move30d24 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-27
2026-10-01T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:169710da9ef2f5e6b50166eecf87dff49c2061576dd655527ab18bdd78b56a64
ETH 3M bf25moveFullHistory50 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:7d1e4d5843bdeb2061441acda1abeb982c20e3a18baf3b7c76d1141317f393d3
ETH 3M bf25levelFullHistory55 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:52928823bdceca7cb4f3f82fd41bc800591d3f0a29f5503ba0afc328f57693e0
ETH 3M rr25move30d24 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-27
2026-10-01T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:f6026abd297e935fc63f02a33584311f53d071e92d70edfdea11d07631588a03
ETH 3M rr25moveFullHistory50 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:a2252a033c72c9d373a84cfcc574e82bc2707b5609a039748f51bba89e434902
ETH 3M rr25levelFullHistory55 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:2a74f1c0d65d0550932511a3aca02d73ef3a89e54905c3300bface03e4abb8fd
ETH 6M atmIvmove30d24 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-27
2026-10-01T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:f938188f6bac6be76f87b71a68986dd784ec0215f07132a58998546ea3b9ff70
ETH 6M atmIvmoveFullHistory50 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:7b061d77e1c27d54e84d814600facd6d97f1aa68a8e0c918e19e6ff5c691c8e0
ETH 6M atmIvlevelFullHistory55 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:506b9b06b304ae4a9990457f4b6998b7fe578a6bde8c4bc12ed5eb206f5ccb80
ETH 6M bf25move30d24 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-27
2026-10-01T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:3d257b57050b7d38db4381a0df33a8fb3569c9065a7a2f970763f786d0937c11
ETH 6M bf25moveFullHistory50 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:7860f20dbfcb62e69f19064bd1c50d2532cc036a4ba806729e29f8c850b4ac05
ETH 6M bf25levelFullHistory55 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:77736664c0717cbb3935b8a6a8dedda8bf9c8a2ed23e9b28c73699ded43128c8
ETH 6M rr25move30d24 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-27
2026-10-01T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:570d319c3c2bc12806f1266401ac9c01caeb08ba13dd37836d451b98f7a8f24b
ETH 6M rr25moveFullHistory50 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:ad3c194e91592691eb9abe3d08c179582d46e0b9b6c26a3a327ebc2285d4f121
ETH 6M rr25levelFullHistory55 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:4f49088b1da154c7a518969e842c289e1c67675d23e73d5ffcc2acede90f0555
ETH 9M atmIvmove30d24 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-27
2026-10-01T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:8b1724ba57d878b94cdd70d47511507d986699c8b03ed067c06255a40af4200c
ETH 9M atmIvmoveFullHistory50 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:e3e3ef46db3741d9f76c1740cf35905bb9cc489338c51f73f3878d92d560bb88
ETH 9M atmIvlevelFullHistory55 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:27d2cf00ba7f70a39761b26ab475736bb2c761adee78a62d4c2a5cc1105f2281
ETH 9M bf25move30d24 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-27
2026-10-01T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:cc4ffb35bc7242c815442c1d3f0b1844cca68eaa5481c5557cf56f00fa9b4119
ETH 9M bf25moveFullHistory50 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:bc49c360b76e0bbb1aebfe4177af6e4bbba21fd895a412ef4509e34a454a9c77
ETH 9M bf25levelFullHistory55 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:005eb5de7e9c46ae020699afc63845de2c3fc054d43f0e7b9ee1eae834094d30
ETH 9M rr25move30d24 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-27
2026-10-01T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:41e092d8461eadfdc6d52d8833aaaf1542d5cf24e3f1e013ace5d7e0f9b3a0ab
ETH 9M rr25moveFullHistory50 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:8bcd071584580d015fc0d7d8857ab55bac2eff11241a63b4dfa01ca6483d6658
ETH 9M rr25levelFullHistory55 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-27
2026-08-30T17:31:00+00:00 → 2026-10-27T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:2e9653519a65f79019e9d90f7924432bd33559da7705bacd4af50e51686af3f1
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 13NOV26; the largest sigma change occurred at 24SEP27.

ExpiryΔ aΔ bΔ rhoΔ mΔ sigmaSmile classification
29OCT26+0.02220-0.03780-0.03160-0.01920-0.00440rotation towards puts, wing steepening
30OCT26+0.00770-0.01590-0.13150-0.08100+0.02160rotation towards puts, wing steepening
31OCT26-0.00800-0.01130-0.06040-0.04120+0.09050rotation towards puts, wing steepening
6NOV26+0.00630-0.00080-0.08620-0.05570-0.03280wing steepening
13NOV26+0.00970+0.00730-0.12490-0.08590-0.07660wing steepening
27NOV26-0.00960+0.01060-0.10460-0.07640+0.01610mixed reshaping
25DEC26+0.00010+0.01060-0.10370-0.06030-0.04070rotation towards puts
26MAR27+0.00430+0.00270-0.04900-0.03420-0.02670parallel shift lower
25JUN27+0.05910-0.04480+0.07480+0.14110-0.12120limited movement
24SEP27+0.05980-0.01970-0.03100+0.03130-0.12670limited movement

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 Gamma29OCT26, 0.008172 1 / USD
Highest Theta Decay29OCT26, -16.134911 USD / day
Highest Vanna24SEP27, 0.001838 delta / vol pt
Highest Vega24SEP27, 8.941501 USD / vol pt
Highest Volga24SEP27, -0.010796 USD / vol pt²

7D realised volatility · data quality

AssetRecorded RVStatusCoverage / requiredLongest gap / maximum
ETH43.83%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 28 Oct 2026, 17:31:00 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
28 Oct 2026, 17:31 UTC
Comparison snapshot
27 Oct 2026, 17:31 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.

Continue through Derivasys

From today’s report to the underlying methods.

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

Get reports by email

Request daily or weekly crypto options reports in your inbox.