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Daily ETH options market report · 24-hour comparison

Ether options show lower 1w RR25 skew

ETH spot fell 4.74%; 1W ATM IV rose 7.92 volatility points; Wing premium increased (+0.36 vol points).

By Sean Gordon — Derivasys Research

Published

Snapshot data and comparison

Snapshot · 30 Oct 2026, 17:31 UTC

Generated timestamp:

Scheduled edition reference: 2026-10-30 17:31:00 UTC. Native observations below retain their actual fit times.

Report comparison baseline → current snapshot
2026-10-29 17:31:00 UTC → 2026-10-30 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 -4.74%1W ATM IV 55.68%1W RR25 -9.17 vol pts1W BF25 +2.16 vol pts1W IV − 7D RV +1.59 vol pts

Notable move: ETH 1W RR25 Δ -3.89 vol pts → -9.17 vol pts · percentile rank 100.0% by absolute move · 1-day moves · full history (n=52).

1W RR25 – selected tenor
Vol points

1W RR25 – selected tenor. Vol points. ETH: Current -9.17, Previous -5.28.CurrentPreviousETH-9.17-5.28-9.90-4.950.00

Current: 30 Oct 2026, 17:31 UTC
Previous: 29 Oct 2026, 17:31 UTC

Ether options show lower 1w RR25 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 · 2026-10-30T17:31:00+00:00
TenorETH currentETH previous
1W-9.17-5.28
2W-7.31-4.57
1M-5.31-4.59
3M-3.40-3.10
6M-1.71-1.42
9M-0.85-0.66
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 29 Oct, 17:31 UTC to 30 Oct, 17:31 UTC.

Previous publication · research context

2026-10-29: “Ether options show lower 1m RR25 skew”

Previous publication cutoff 29 Oct, 17:31 UTC. Today’s market comparison starts at 29 Oct, 17:31 UTC. Snapshot clocks align for the measured comparison below.

Previous publication JSON · SHA-256 9f7a19bc05cacc08cece3f613414423b7999e41812d83c935de692b2454986ed

Prior watch: measured outcome

Against the 2026-10-29 daily edition.

  • ETH 1W ATM IV: prior change -2.00 → current change +7.92 volatility points; direction reversed.
  • ETH spot-index return: prior change +0.78 → current change -4.74 percent; direction reversed.
  • ETH 1W RR25: prior change -0.97 → current change -3.89 volatility points; same direction.
  • ETH 1W BF25: prior change +0.01 → current change +0.36 volatility points; same direction.
  • ETH 1M RR25 ≤ -4.59 volatility points (hold the observed endpoint) at 30 Oct, 17:31 UTC: met (observed -5.31 volatility points).
  • ETH 1M RR25 ≥ -3.37 volatility points (full retrace to the prior endpoint) at 30 Oct, 17:31 UTC: not met (observed -5.31 volatility points).

Next daily cutoff: measurable checks

  • Hold the observed level: ETH 1W RR25 ≤ -9.17 volatility points at . Current level -9.17; threshold is the current observed endpoint.
  • Full retrace: ETH 1W RR25 ≥ -5.28 volatility points at . Current level -9.17; 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 f5f5c2963a2f48bd3b2b33294180b23667ed9fb8dd7b29abf115c95fafd150e6

Prior artifact: /v1/eth/daily/2026-10-29/9f7a19bc05cacc08cece3f613414423b7999e41812d83c935de692b2454986ed.json · SHA-256 9f7a19bc05cacc08cece3f613414423b7999e41812d83c935de692b2454986ed

Consumed endpoint proof: 635647df2ab2623224ae46b88d748827e1947952f5ec988e595937031d640cce

  • ETH:rr25:1W:observed-current-level: rows[asset=ETH].report.tenors[tenor=1W].rr25.previous; rows[asset=ETH].report.tenors[tenor=1W].rr25.current; rows[asset=ETH].report.tenors[tenor=1W].rr25.change; evaluation window 2026-10-30T17:31:00+00:00 to 2026-10-31T17:31:00+00:00.
  • ETH:rr25:1W:observed-previous-level: rows[asset=ETH].report.tenors[tenor=1W].rr25.previous; rows[asset=ETH].report.tenors[tenor=1W].rr25.current; rows[asset=ETH].report.tenors[tenor=1W].rr25.change; evaluation window 2026-10-30T17:31:00+00:00 to 2026-10-31T17:31:00+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 lower 1W RR25 skew

The 1W RR25 skew change for ETH was -3.89 volatility points over the stored comparison. CoinDesk reported in a headline excerpt (numerical details omitted): “Here’s how an Ethereum upgrade helped drain part of Binance’s […] billion loss”. This is background reporting; a direct link to the options observation is not established. CoinDesk reported in a headline excerpt (numerical details omitted): “Crypto liquidations jump to […] billion as Binance hack sends bitcoin, ether lower”. This is background reporting; a direct link to the options observation is not established.

CoinDesk reported in a headline excerpt (numerical details omitted): “Here’s how an Ethereum upgrade helped drain part of Binance’s […] billion loss”. This is background reporting; a direct link to the options observation is not established. CoinDesk reported in a headline excerpt (numerical details omitted): “Crypto liquidations jump to […] billion as Binance hack sends bitcoin, ether lower”. 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 +7.92 volatility points, to 55.68%.

Derived directly from structured Derivasys surface data

03 · Catalyst check

29 Oct 2026, 17:31 UTC to 30 Oct 2026, 17:31 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 17:31 UTC cutoff, 1W ATM IV was 55.68%, 1.59 volatility points above seven-day realised volatility of 54.09%; 24-hour realised volatility was 91.48% and 30-day realised volatility was 47.01%.

Front end

Front-end ATM IV increased, averaging +5.69 volatility points to 54.01% across 1W, 2W and 1M.

Long end

Six-month ATM IV was broadly unchanged at 52.74% (+0.72 volatility points); 1Y was unavailable.

Skew

RR25 moved towards puts, averaging -1.59 volatility points to -5.38 volatility points across the five available headline tenors.

Convexity

BF25 increased, averaging +0.22 volatility points to 1.92 volatility points across the five available headline tenors.

Largest standard-tenor move

The largest standard-tenor ATM IV move was +7.92 volatility points at 1W, to 55.68%.

24h spot-index return

ETH spot-index return was -4.74% over 24 hours.

7d spot-index return

ETH spot-index return was -6.91% over seven days.

Universe roll: added 3NOV26; removed 30OCT26. Comparisons use common expiries only.

05 · Standard-tenor ranking

Largest surface events

01

Largest eligible smile rotation

2NOV26, -24.77 vol pts
02

Largest standard-tenor ATM IV move

1W, +7.92 vol pts
03

Largest standard-tenor RR25 move

1W, -3.89 vol pts
04

Largest standard-tenor BF25 move

1W, +0.36 vol pts
05

Largest eligible SVI rho move

2NOV26, -0.1714 param
06

Largest eligible SVI sigma move

2NOV26, -0.1123 param

06 · ATM volatility

Standard-tenor ATM implied volatility.

TenorCurrent (vol %)Comparison snapshot (vol %)Change (vol pts)Relative change
1W55.6847.76+7.92 vol pts+16.58%
2W54.1148.51+5.60 vol pts+11.54%
1M52.2448.69+3.55 vol pts+7.29%
3M51.8750.42+1.45 vol pts+2.88%
6M52.7452.02+0.72 vol pts+1.38%
9M53.2552.77+0.48 vol pts+0.91%
1YUnavailableUnavailableUnavailableUnavailable

Source: Derivasys Research — structured data

07 · Risk reversals

RR25 skew moved most at 1W.

RR25 moved towards puts, averaging -1.59 volatility points to -5.38 volatility points across the five available headline tenors. Negative RR25 denotes a richer 25-delta put wing under the call-minus-put convention.

-10.2 vol pts-7.6 vol pts-4.9 vol pts-2.3 vol pts0.4 vol pts1W2W1M3M6M9M
TenorCurrent (vol pts)Comparison snapshot (vol pts)Change (vol pts)
1W-9.17-5.28-3.89 vol pts
2W-7.31-4.57-2.74 vol pts
1M-5.31-4.59-0.72 vol pts
3M-3.40-3.10-0.30 vol pts
6M-1.71-1.42-0.29 vol pts
9M-0.85-0.66-0.19 vol pts
1YUnavailableUnavailableUnavailable

Source: Derivasys Research — structured data

08 · Butterflies

BF25 convexity by standard tenor.

BF25 increased, averaging +0.22 volatility points to 1.92 volatility points across the five available headline tenors. BF25 measures the average 25-delta wing premium over ATM IV.

1.2 vol pts1.5 vol pts1.8 vol pts2.1 vol pts2.4 vol pts1W2W1M3M6M9M
TenorCurrent (vol pts)Comparison snapshot (vol pts)Change (vol pts)
1W2.161.80+0.36 vol pts
2W2.021.84+0.18 vol pts
1M2.011.75+0.26 vol pts
3M1.781.53+0.25 vol pts
6M1.621.55+0.07 vol pts
9M1.451.37+0.08 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

31OCT26, -48.71 vol pts
1.6d

Smile rotation

1NOV26, -29.94 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.

46.8%49.3%51.7%54.2%56.6%1W2W1M3M6M9M

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

ExpiryTime leftForward now (USD)Forward change (USD)ATM IV nowATM IV changeRR25 changeBF25 change
31OCT26Expiry effect0.6 days2,240.7-106.92 USD46.25%+7.74 vol pts-9.25 vol pts+0.65 vol pts
1NOV26Expiry effect1.6 days2,239.99-108.50 USD37.29%+1.86 vol pts-6.27 vol pts+0.48 vol pts
2NOV262.6 days2,240.03-108.74 USD38.38%+1.75 vol pts-6.52 vol pts+0.54 vol pts
6NOV266.6 days2,240.97-108.90 USD55.86%+7.28 vol pts-3.99 vol pts+0.33 vol pts
13NOV2613.6 days2,242.54-108.85 USD54.22%+5.71 vol pts-2.86 vol pts+0.19 vol pts
20NOV2620.6 days2,243.92-109.00 USD52.94%+4.20 vol pts-1.94 vol pts+0.38 vol pts
27NOV2627.6 days2,245.52-108.71 USD52.30%+3.70 vol pts-0.83 vol pts+0.26 vol pts
25DEC2655.6 days2,253.49-109.15 USD51.92%+2.33 vol pts-0.47 vol pts+0.28 vol pts
29JAN2790.6 days2,263.23-109.76 USD51.86%+1.43 vol pts-0.32 vol pts+0.26 vol pts
26MAR27146.6 days2,278.31-109.93 USD52.44%+0.86 vol pts-0.50 vol pts+0.10 vol pts
25JUN27237.6 days2,307.66-111.08 USD53.02%+0.56 vol pts-0.09 vol pts+0.06 vol pts
24SEP27328.6 days2,336.71-111.63 USD53.51%+0.38 vol pts-0.32 vol pts+0.10 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.

31OCT26rotation towards puts · wing steepening
-0.30k0.00k+0.30k
1NOV26rotation towards puts · wing steepening
-0.30k0.00k+0.30k
2NOV26rotation towards puts · wing steepening
-0.30k0.00k+0.30k
6NOV26rotation towards puts
-0.30k0.00k+0.30k
13NOV26rotation towards puts · wing flattening
-0.30k0.00k+0.30k
20NOV26parallel shift higher · rotation towards puts
-0.30k0.00k+0.30k
27NOV26parallel shift higher · rotation towards puts
-0.30k0.00k+0.30k
25DEC26parallel shift higher
-0.30k0.00k+0.30k
29JAN27parallel shift higher
-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 2.8 times VIX, while its 30-session return correlation with SPX was mixed at 0.55.

Implied-volatility premium

ETH 30-day ATM IV was 48.78%, against VIX at 17.20: a 31.58-point spread and 2.84× ratio.

Daily-close realised-volatility regime

ETH reported crypto realised volatility was 37.20%, versus SPX reported realised volatility of 10.16%. The spread ranked at percentile rank 16.0% of 263 prior observations.

Equity co-movement

Return correlation with SPX was 0.553 over 30 aligned sessions and 0.343 over 60 sessions. VIX9D, VIX and VIX3M closed at 15.87, 17.20 and 19.37.

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 29 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: 2026-10-30 17:31:00 UTC. Native observations below retain their actual fit times.

Report comparison baseline → current snapshot
2026-10-29 17:31:00 UTC → 2026-10-30 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 · 30 Oct 2026, 17:31 UTC

The measurement behind the lead chart

ETH 1W RR25 -9.17 vol pts · Δ -3.89 vol pts

ETH percentile rank 100.0% by absolute move · full history (n=52); 1-day moves sampled daily UTC; 2026-08-30 to 2026-10-29

Original report summary

ETH 1W RR25 skew is -9.17 percent, compared with -5.28 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 55.68% · Δ +7.92 vol pts

Skew: ETH 1W RR25 -9.17 vol pts · Δ -3.89 vol pts

Relative value: ETH 1W IV 55.68% / 7D RV 54.09% · spread +1.59 vol pts

Vol

ETH 1W ATM IV 55.68% · Δ +7.92 vol ptspercentile rank 94.2% by absolute move · full history (n=52); 1-day moves sampled daily UTC; 2026-08-30 to 2026-10-29

Skew

ETH 1W RR25 -9.17 vol pts · Δ -3.89 vol ptspercentile rank 100.0% by absolute move · full history (n=52); 1-day moves sampled daily UTC; 2026-08-30 to 2026-10-29

Wings

ETH 1W BF25 2.16 vol pts · Δ +0.36 vol ptspercentile rank 86.5% by absolute move · full history (n=52); 1-day moves sampled daily UTC; 2026-08-30 to 2026-10-29

IV versus RV

ETH 1W IV 55.68% / 7D RV 54.09% · spread +1.59 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 94.2% by absolute move · full history (n=52); 1-day moves sampled daily UTC; 2026-08-30 to 2026-10-29

ETH 1W RR25: percentile rank 100.0% by absolute move · full history (n=52); 1-day moves sampled daily UTC; 2026-08-30 to 2026-10-29

ETH 1W BF25: percentile rank 86.5% by absolute move · full history (n=52); 1-day moves sampled daily UTC; 2026-08-30 to 2026-10-29

Technical appendix: measurement and history provenance

Download the full canonical report and evidence receipts (JSON). Artifact SHA-256: f5f5c2963a2f48bd3b2b33294180b23667ed9fb8dd7b29abf115c95fafd150e6.

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 observations2026-10-01 → 2026-10-29
2026-10-01T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:c8237db8bf470becabbee1146099e443d90bb79a4cb8edeb067a6cdf2bbde6e4
ETH 1W atmIvmoveFullHistory52 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:176050aae6d3f1208ff77c725b2d83962c9da7192e1a425a889dab29912c2613
ETH 1W atmIvlevelFullHistory57 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:816f59dfc884ec64dc3ab4dbe9d7acae6277c8157c6fb1983adf5c1a9864b54d
ETH 1W bf25move30d26 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-29
2026-10-01T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:21a0364ac14c949455ce5c164f8cdcaeb39a09575c2a58b43eca09b5bf90025c
ETH 1W bf25moveFullHistory52 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:90e9f4e627dab6073abc92ec94e6eb418e701456a3e1fe5e5877948848985be5
ETH 1W bf25levelFullHistory57 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:00ad72519a35bcbd7199f3b4789c7b42708d8e422e289dd3c5413476b34be681
ETH 1W rr25move30d26 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-29
2026-10-01T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:198ff50c04be419992ccfa0c94037425a185cd04d3f2dac2e99d7c612fa5cbb9
ETH 1W rr25moveFullHistory52 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:339db98a411d1b60ba07b621ea9e87b0dd631841b4825b9060a26141dc4ae850
ETH 1W rr25levelFullHistory57 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:0acc2d22aed297a76b9048ae12e559a44b3ea74c06f04f475ad267fb5c8f7a44
ETH 2W atmIvmove30d26 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-29
2026-10-01T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:c49b0ab4805d857de9a1191f5521005ff7edf3f16462a25937585ea267bc24c4
ETH 2W atmIvmoveFullHistory52 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:f76e931d0d2136a7ef23bd16ee17be0ccd63dd8512f5d54b4ef27fa9714cff87
ETH 2W atmIvlevelFullHistory57 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:4435a9998979853921b084b114cdcc569257e0539007fb59b24d57987c8a6d64
ETH 2W bf25move30d26 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-29
2026-10-01T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:947c9a5d63bd0ac4585fba93a77e7589faad5f722dabcdbbbbab9fd80c1fac4a
ETH 2W bf25moveFullHistory52 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:e5cf8aead243f8739f84d2bab562fa5d06ced94ce36f1ebfd13c736c12f704fc
ETH 2W bf25levelFullHistory57 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:cc3e99c7d1a65c0b4d7361a44b7961ade34c6a1b30736b390208dc9f7ba08286
ETH 2W rr25move30d26 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-29
2026-10-01T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:4b75561d679b58e403a4f15bb2c02bf1f53ccab3821a65f088f2e61087a5dfc6
ETH 2W rr25moveFullHistory52 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:123952140a45017ebe8304ce42571ab7c91d2922ed6b7f34af76e08f99c884e6
ETH 2W rr25levelFullHistory57 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:624dafce11ea4fa7d651aac718b1df21fdfcf75c02213160e99ed88d474cbd80
ETH 1M atmIvmove30d26 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-29
2026-10-01T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:f550351b3a00a01cefb1dafb5896ef3f38141acbf6c86102ec4381ce5d711a0a
ETH 1M atmIvmoveFullHistory52 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:ee8f923ec378ff9d5d6622ea403b5bf7de8abd358b97b898dab147ee6b42e658
ETH 1M atmIvlevelFullHistory57 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:4389754e33c19c3c973c57f166c446af6906db8896e69e60293286d0d47f3e32
ETH 1M bf25move30d26 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-29
2026-10-01T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:17bb97c9a85b1a7840bfb3b08a758bfae521a6a1b1a75725cb714963f4d729cd
ETH 1M bf25moveFullHistory52 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:bcbe8aa85367718c4f469d64c7c59b78e1e688ba2416e29f873fe9090819c948
ETH 1M bf25levelFullHistory57 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:d997a5d4eb69c5c8cf09ec45ce0cde5d0ab41622a4b11b0404c1b1beea420ae8
ETH 1M rr25move30d26 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-29
2026-10-01T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:c6c51eddb1f44299b0f015a54c044a3623dc683073bc872dbd2604f3c5a99a15
ETH 1M rr25moveFullHistory52 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:4b155d208a1ee3c5da685612b34afdf0f7e72fad9bd46c01cc3ea6c956aa6e93
ETH 1M rr25levelFullHistory57 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:7010f09ace357bed7c9b4f864765aa8a8736218b262c1d014d3730fb9d333882
ETH 3M atmIvmove30d26 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-29
2026-10-01T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:151af0a713549b90898a5e161cb4791c3d05658440f40a6b7701490dff506ca0
ETH 3M atmIvmoveFullHistory52 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:8e82f8b99e3c8e86c5b96c2e6d3dfd94a50391e7ed8ec963d7b0442cc03aada0
ETH 3M atmIvlevelFullHistory57 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:4e240ffd9ac68e73ce3f1a96695feaa84f5d179b69d61596a2916641dc9eff40
ETH 3M bf25move30d26 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-29
2026-10-01T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:3b9ef7e047a6f19becc4fcbbd7f8fac3a2627fba0a8b7afdf116f7daac9aa4ac
ETH 3M bf25moveFullHistory52 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:0fefc6f51dfead4cb76bca1e8eb199a7611f64bb46f4471434b7c9df5a4142ed
ETH 3M bf25levelFullHistory57 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:dad1af146d7a399dcfe88d82350282ba047f394f3b93fbbd4b26a6f41e10bd85
ETH 3M rr25move30d26 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-29
2026-10-01T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:c9c03f1cd0cd893a349be09cfaf6273d5d89427ef32413764040feaee1787bf1
ETH 3M rr25moveFullHistory52 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:cecd4c08ac1c84a8b1214bc401e8c25b4a6137a963791cfbd657bfb84ef50f48
ETH 3M rr25levelFullHistory57 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:349c6e570beed2ec63153ba0d93739811f1f37ddda25e86dffdff6dcde305630
ETH 6M atmIvmove30d26 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-29
2026-10-01T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:faafc8cef9bd6766682b6e96b90ca2c0acda0cc77c3f113dbee264f50b4b54f6
ETH 6M atmIvmoveFullHistory52 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:3e223a36a3bd5a0190b59a3eb8768574bef14d5a1e7c63c1a40b0f39d74fe6e0
ETH 6M atmIvlevelFullHistory57 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:9820bfafbefb7f381cd108e37b19eeae26464dd323aa993b3a98df91752244d3
ETH 6M bf25move30d26 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-29
2026-10-01T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:b534e7a29cce4ca4feddb9ae45dc5c28db4c23eb6368a0de6566f098ed1736e2
ETH 6M bf25moveFullHistory52 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:79b6fd6f6c2e87713a827d7350e768ee2e1d7c8de222e6304b36f0ce2144b5ed
ETH 6M bf25levelFullHistory57 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:7cedf8f9a2585353a7bba8d8e2a216903558b7d514f0fec823b4dadcdde1b6fd
ETH 6M rr25move30d26 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-29
2026-10-01T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:0e38ecb90f163215f26cd7501077942655ae679396e514a198f491594ce68904
ETH 6M rr25moveFullHistory52 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:f0e255d1c67a80987cdb2ce8cabc48a22f16e6fb60d0a3e1974a383bbd59be5f
ETH 6M rr25levelFullHistory57 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:8b9415dc6b0e0edb04f14a16b14b98128a1b8da2219ae8c80688381953de9c50
ETH 9M atmIvmove30d26 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-29
2026-10-01T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:be8abc935b49b603350ad364a8a6bd9f9ceeea7eb35e267dbe8d9d38ce41425f
ETH 9M atmIvmoveFullHistory52 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:85944b74fe7028a68f762228fd91088a75c8938ef44b4f66ccaafd3fa4051ed6
ETH 9M atmIvlevelFullHistory57 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:66035ca32784bab9b27e5138ac60d10dc08419d03ff690c073bddc659243b34b
ETH 9M bf25move30d26 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-29
2026-10-01T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:a66c5539ffaaa51f5108f3d652836ae96e4a48129c6f7c25ab3359b9c73754fb
ETH 9M bf25moveFullHistory52 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:b2d13a32819a99c2fad7d6c852c17c9998b1f5b10e222105ac04f3fe1f4ef88c
ETH 9M bf25levelFullHistory57 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:5d45ee53843436917fafba36c64b3721af818030c76639aca40869f6f2cdb6a8
ETH 9M rr25move30d26 samples; 1 days; daily UTC observations2026-10-01 → 2026-10-29
2026-10-01T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:17979d148759143acbe8cd586a29e9a653cd554d8064793800b66f4d15ab2965
ETH 9M rr25moveFullHistory52 samples; 1 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:567091ad2934b625ecf6c3d03ee91fc18abf143265b97cdda523c8b841070d57
ETH 9M rr25levelFullHistory57 samples; 0 days; daily UTC observations2026-08-30 → 2026-10-29
2026-08-30T17:31:00+00:00 → 2026-10-29T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:f0ecd1b0e6a60c113c4f49b3ee806702e8c7c478eba063368381be2ca89ca66f
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 2NOV26; the largest sigma change occurred at 2NOV26.

ExpiryΔ aΔ bΔ rhoΔ mΔ sigmaSmile classification
31OCT26+0.03580-0.03230-0.22190-0.03900-0.19520rotation towards puts, wing steepening
1NOV26+0.03770-0.03310-0.21770-0.02360-0.21460rotation towards puts, wing steepening
2NOV26+0.01610+0.00530-0.17140-0.05050-0.11230rotation towards puts, wing steepening
6NOV26-0.02380+0.02000-0.06640-0.01940+0.07500rotation towards puts
13NOV26-0.02470+0.01950-0.06920-0.01820+0.08550rotation towards puts, wing flattening
20NOV26-0.00890+0.01930-0.07050-0.02790-0.00350parallel shift higher, rotation towards puts
27NOV26-0.01400+0.01900-0.07190-0.03640+0.03210parallel shift higher, rotation towards puts
25DEC26-0.01460+0.02380-0.09520-0.05350+0.02840parallel shift higher
29JAN27-0.01740+0.02640-0.11580-0.08020+0.02460parallel shift higher
26MAR27+0.02430-0.01610+0.07030+0.08570-0.06130parallel shift higher
25JUN27-0.01030+0.01970-0.03130-0.03650+0.00130parallel shift higher
24SEP27+0.00270+0.01690-0.02050+0.00820-0.03860parallel 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 Gamma31OCT26, 0.009467 1 / USD
Highest Theta Decay31OCT26, -13.92756 USD / day
Highest Vanna24SEP27, 0.001833 delta / vol pt
Highest Vega24SEP27, 8.564667 USD / vol pt
Highest Volga24SEP27, -0.010315 USD / vol pt²

7D realised volatility · data quality

AssetRecorded RVStatusCoverage / requiredLongest gap / maximum
ETH54.09%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 30 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
30 Oct 2026, 17:31 UTC
Comparison snapshot
29 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.

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