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Daily ETH options market report · 24-hour comparison

Ether options see one-week implied volatility fall 3.30 points to 47.68%

ETH spot rose 5.72%; Skew moved toward calls (+0.60 vol points); Wing premium decreased (-0.19 vol points).

By Sean Gordon — Derivasys Research

Published

Snapshot data and comparison

Snapshot · 4 Nov 2026, 17:31 UTC

Generated timestamp:

Scheduled edition reference: 2026-11-04 17:31:00 UTC. Native observations below retain their actual fit times.

Report comparison baseline → current snapshot
2026-11-03 17:31:00 UTC → 2026-11-04 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 +5.72%1W ATM IV 47.68%1W RR25 -3.27 vol pts1W BF25 +1.43 vol pts1W IV − 7D RV -6.65 vol pts

Lead move: ETH 1W ATM IV Δ -3.30 vol pts → 47.68% · percentile rank 71.9% by absolute move · 1-day moves · full history (n=57).

1W ATM IV – selected tenor
Percent

1W ATM IV – selected tenor. Percent. ETH: Current 47.68, Previous 50.98.CurrentPreviousETH47.6850.980.0027.5355.06

Current: 4 Nov 2026, 17:31 UTC
Previous: 3 Nov 2026, 17:31 UTC

Ether options see one-week implied volatility fall 3.30 points to 47.68%. 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 · 2026-11-04T17:31:00+00:00
TenorETH currentETH previous
1W47.6850.98
2W48.1549.39
1M48.9149.14
3M51.0050.29
6M52.2752.00
9M52.9252.64
1YUnavailableUnavailable

The 1W ATM IV change for ETH was -3.30 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 3 Nov, 17:31 UTC to 4 Nov, 17:31 UTC.

Previous publication · research context

2026-11-03: “Ether options show higher 1w RR25 skew”

Previous publication cutoff 3 Nov, 17:31 UTC. Today’s market comparison starts at 3 Nov, 17:31 UTC. Snapshot clocks align for the measured comparison below.

Previous publication JSON · SHA-256 3cd01c5486e94c8688c3eeea161ce46252f51acf0f77d4bbe4077dcd5c411848

Prior watch: measured outcome

Against the 2026-11-03 daily edition.

  • ETH 1W ATM IV: prior change -2.64 → current change -3.30 volatility points; same direction.
  • ETH spot-index return: prior change +1.84 → current change +5.72 percent; same direction.
  • ETH 1W RR25: prior change +2.32 → current change +0.60 volatility points; same direction.
  • ETH 1W BF25: prior change -0.01 → current change -0.19 volatility points; same direction.
  • ETH 1W RR25 ≥ -3.87 volatility points (hold the observed endpoint) at 4 Nov, 17:31 UTC: met (observed -3.27 volatility points).
  • ETH 1W RR25 ≤ -6.19 volatility points (full retrace to the prior endpoint) at 4 Nov, 17:31 UTC: not met (observed -3.27 volatility points).

Next daily cutoff: measurable checks

  • Hold the observed level: ETH 1W ATM IV ≤ 47.68 percent at . Current level 47.68; threshold is the current observed endpoint.
  • Full retrace: ETH 1W ATM IV ≥ 50.98 percent at . Current level 47.68; 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 c8cf8142d70c20d0f3f8a7d3066de93114f39619cc02b542c48663fad3893ca4

Prior artifact: /v1/eth/daily/2026-11-03/3cd01c5486e94c8688c3eeea161ce46252f51acf0f77d4bbe4077dcd5c411848.json · SHA-256 3cd01c5486e94c8688c3eeea161ce46252f51acf0f77d4bbe4077dcd5c411848

Consumed endpoint proof: 3ad360d8804cfa8165015e90e728a453102f989730f6b158e85c865cae8a262d

  • 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 2026-11-04T17:31:00+00:00 to 2026-11-05T17:31:00+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 2026-11-04T17:31:00+00:00 to 2026-11-05T17:31:00+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 1W at -3.30 volatility points, to 47.68%.

Derived directly from structured Derivasys surface data

03 · Catalyst check

03 Nov 2026, 17:31 UTC to 04 Nov 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 47.68%, 6.65 volatility points below seven-day realised volatility of 54.33%; 24-hour realised volatility was 64.39% and 30-day realised volatility was 48.14%.

Front end

Front-end ATM IV decreased, averaging -1.59 volatility points to 48.25% across 1W, 2W and 1M.

Long end

Six-month ATM IV was broadly unchanged at 52.27% (+0.27 volatility points); 1Y was unavailable.

Skew

RR25 moved towards calls, averaging +0.19 volatility points to -2.73 volatility points across the five available headline tenors.

Convexity

BF25 was unchanged at 1.52 volatility points across the five available headline tenors.

Largest standard-tenor move

The largest standard-tenor ATM IV move was -3.30 volatility points at 1W, to 47.68%.

24h spot-index return

ETH spot-index return was +5.72% over 24 hours.

7d spot-index return

ETH spot-index return was +4.01% over seven days.

Universe roll: added 8NOV26; removed 4NOV26. Comparisons use common expiries only.

05 · Standard-tenor ranking

Largest surface events

01

Largest standard-tenor ATM IV move

1W, -3.30 vol pts
02

Largest eligible smile rotation

7NOV26, -1.27 vol pts
03

Largest standard-tenor RR25 move

2W, +0.66 vol pts
04

Largest standard-tenor BF25 move

1W, -0.19 vol pts
05

Largest eligible SVI sigma move

7NOV26, +0.1265 param
06

Largest eligible SVI rho move

7NOV26, -0.0645 param

06 · ATM volatility

Standard-tenor ATM implied volatility.

TenorCurrent (vol %)Comparison snapshot (vol %)Change (vol pts)Relative change
1W47.6850.98-3.30 vol pts-6.47%
2W48.1549.39-1.24 vol pts-2.51%
1M48.9149.14-0.23 vol pts-0.47%
3M51.0050.29+0.71 vol pts+1.41%
6M52.2752.00+0.27 vol pts+0.52%
9M52.9252.64+0.28 vol pts+0.53%
1YUnavailableUnavailableUnavailableUnavailable

Source: Derivasys Research — structured data

07 · Risk reversals

RR25 skew moved most at 2W.

RR25 moved towards calls, averaging +0.19 volatility points to -2.73 volatility points across the five available headline tenors. Negative RR25 denotes a richer 25-delta put wing under the call-minus-put convention.

-4.2 vol pts-3.3 vol pts-2.3 vol pts-1.4 vol pts-0.5 vol pts1W2W1M3M6M9M
TenorCurrent (vol pts)Comparison snapshot (vol pts)Change (vol pts)
1W-3.27-3.87+0.60 vol pts
2W-2.97-3.63+0.66 vol pts
1M-3.12-2.93-0.19 vol pts
3M-2.73-2.61-0.12 vol pts
6M-1.56-1.55-0.01 vol pts
9M-0.83-0.92+0.09 vol pts
1YUnavailableUnavailableUnavailable

Source: Derivasys Research — structured data

08 · Butterflies

BF25 convexity by standard tenor.

BF25 was unchanged at 1.52 volatility points across the five available headline tenors. BF25 measures the average 25-delta wing premium over ATM IV.

1.2 vol pts1.4 vol pts1.5 vol pts1.7 vol pts1.8 vol pts1W2W1M3M6M9M
TenorCurrent (vol pts)Comparison snapshot (vol pts)Change (vol pts)
1W1.431.62-0.19 vol pts
2W1.511.59-0.08 vol pts
1M1.501.44+0.06 vol pts
3M1.591.45+0.14 vol pts
6M1.591.50+0.09 vol pts
9M1.471.42+0.05 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

5NOV26, -11.85 vol pts
1.6d

ATM IV change

6NOV26, -8.12 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.

47.1%48.7%50.3%51.9%53.5%1W2W1M3M6M9M

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

ExpiryTime leftForward now (USD)Forward change (USD)ATM IV nowATM IV changeRR25 changeBF25 change
5NOV26Expiry effect0.6 days2,425.42+131.32 USD45.05%-11.85 vol pts+3.02 vol pts-0.98 vol pts
6NOV26Expiry effect1.6 days2,424.82+130.52 USD46.44%-8.12 vol pts+1.81 vol pts-0.66 vol pts
7NOV262.6 days2,424.65+130.18 USD48.92%-4.81 vol pts+0.46 vol pts-0.52 vol pts
13NOV268.6 days2,426.61+130.75 USD48.36%-1.80 vol pts+0.32 vol pts-0.13 vol pts
20NOV2615.6 days2,428.17+130.46 USD48.11%-1.01 vol pts+0.69 vol pts-0.09 vol pts
27NOV2622.6 days2,430.02+130.44 USD48.20%-0.62 vol pts-0.20 vol pts+0.04 vol pts
25DEC2650.6 days2,438.81+130.94 USD49.77%+0.15 vol pts-0.17 vol pts+0.07 vol pts
29JAN2785.6 days2,448.53+131.25 USD50.86%+0.74 vol pts-0.18 vol pts+0.13 vol pts
26MAR27141.6 days2,464.58+130.96 USD51.78%+0.32 vol pts+0.05 vol pts+0.10 vol pts
25JUN27232.6 days2,495.06+132.50 USD52.64%+0.22 vol pts-0.08 vol pts+0.09 vol pts
24SEP27323.6 days2,527.12+133.98 USD53.17%+0.32 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.

5NOV26rotation towards calls · wing steepening
-0.30k0.00k+0.30k
6NOV26rotation towards calls · wing steepening
-0.30k0.00k+0.30k
7NOV26rotation towards puts · wing steepening
-0.30k0.00k+0.30k
13NOV26wing steepening
-0.30k0.00k+0.30k
20NOV26rotation towards calls
-0.30k0.00k+0.30k
27NOV26mixed reshaping
-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 2.4 times VIX, while its 30-session return correlation with SPX was mixed at 0.59.

Implied-volatility premium

ETH 30-day ATM IV was 49.32%, against VIX at 20.83: a 28.49-point spread and 2.37× ratio.

Daily-close realised-volatility regime

ETH reported crypto realised volatility was 39.51%, versus SPX reported realised volatility of 11.37%.

Equity co-movement

Return correlation with SPX was 0.593 over 30 aligned sessions and 0.390 over 60 sessions. VIX9D, VIX and VIX3M closed at 21.96, 20.83 and 21.27.

RV comparison basis unverified: this edition does not record the recognised provider methodology for both horizons and annualisation conventions. Any historical spread rank should not be interpreted as establishing matched-horizon comparability.

As of 03 Nov 2026, 21:00 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: 2026-11-04 17:31:00 UTC. Native observations below retain their actual fit times.

Report comparison baseline → current snapshot
2026-11-03 17:31:00 UTC → 2026-11-04 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 · 4 Nov 2026, 17:31 UTC

The measurement behind the lead chart

ETH 1W ATM IV 47.68% · Δ -3.30 vol pts

ETH percentile rank 71.9% by absolute move · full history (n=57); 1-day moves sampled daily UTC; 2026-08-30 to 2026-11-03

Original report summary

ETH 1W ATM IV is 47.68 percent, compared with 50.98 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 47.68% · Δ -3.30 vol pts

Skew: ETH 1W RR25 -3.27 vol pts · Δ +0.60 vol pts

Relative value: ETH 1W IV 47.68% / 7D RV 54.33% · spread -6.65 vol pts

Vol

ETH 1W ATM IV 47.68% · Δ -3.30 vol ptspercentile rank 71.9% by absolute move · full history (n=57); 1-day moves sampled daily UTC; 2026-08-30 to 2026-11-03

Skew

ETH 1W RR25 -3.27 vol pts · Δ +0.60 vol ptspercentile rank 28.6% by absolute move · 30-day window (n=28); 1-day moves sampled daily UTC; 2026-10-04 to 2026-11-03

Wings

ETH 1W BF25 1.43 vol pts · Δ -0.19 vol ptspercentile rank 66.7% by absolute move · full history (n=57); 1-day moves sampled daily UTC; 2026-08-30 to 2026-11-03

IV versus RV

ETH 1W IV 47.68% / 7D RV 54.33% · spread -6.65 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 71.9% by absolute move · full history (n=57); 1-day moves sampled daily UTC; 2026-08-30 to 2026-11-03

ETH 1W RR25: percentile rank 28.6% by absolute move · 30-day window (n=28); 1-day moves sampled daily UTC; 2026-10-04 to 2026-11-03

ETH 1W BF25: percentile rank 66.7% by absolute move · full history (n=57); 1-day moves sampled daily UTC; 2026-08-30 to 2026-11-03

Technical appendix: measurement and history provenance

Download the full canonical report and evidence receipts (JSON). Artifact SHA-256: c8cf8142d70c20d0f3f8a7d3066de93114f39619cc02b542c48663fad3893ca4.

Ether options see one-week implied volatility fall 3.30 points to 47.68% 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 atmIvmove30d28 samples; 1 days; daily UTC observations2026-10-04 → 2026-11-03
2026-10-04T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:fa55e735a43e9b134d184d37c3f5128ea42609619d1c5bff6d0d2c9386be429f
ETH 1W atmIvmoveFullHistory57 samples; 1 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:3587e781569e10d3d65e4dc6133b1254149cda4a62dd8675065871966d9513f0
ETH 1W atmIvlevelFullHistory62 samples; 0 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:fd1f316d609a346bf79b24d07e9e100d27c0492a955d611cdf6f7212e3ab025f
ETH 1W bf25move30d28 samples; 1 days; daily UTC observations2026-10-04 → 2026-11-03
2026-10-04T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:d3451e13ca49c76afe4cfaa424ef02a7918412e9f0ddb223c3da77a80199d0b1
ETH 1W bf25moveFullHistory57 samples; 1 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:69bf57c2d980cd9f15fd5db5ef958b6044f590a0fbee0d84df987d7c88d310a5
ETH 1W bf25levelFullHistory62 samples; 0 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:33351b3b5fa0c92ad826042179ce9ff506e48f9797f6ded79d9c8a5adc54a75b
ETH 1W rr25move30d28 samples; 1 days; daily UTC observations2026-10-04 → 2026-11-03
2026-10-04T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:68f1625b7766b432c9fa7142c4908274cda0441b0f314d693ba69c393ff84030
ETH 1W rr25moveFullHistory57 samples; 1 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:f044a302a4962e32b1f1b2155d7ff24bca7bfbb4b90b03a653ead95616012f58
ETH 1W rr25levelFullHistory62 samples; 0 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:b36b5d4a592d99c097170859d784aa0474a2735c135f4b1246f06938d0646aa8
ETH 2W atmIvmove30d28 samples; 1 days; daily UTC observations2026-10-04 → 2026-11-03
2026-10-04T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:731f8814e0cc8eff4d830484c19f33b5b467a3f3750ffd97184256a7df9952eb
ETH 2W atmIvmoveFullHistory57 samples; 1 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:a52aa6c0cb837cc1b33a07f11ea6211238dce7e60033573759af31b995055ddb
ETH 2W atmIvlevelFullHistory62 samples; 0 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:dad374ec4f647d885bcedb40990c987a4ca1248aef54c096e0a73b565eeb1116
ETH 2W bf25move30d28 samples; 1 days; daily UTC observations2026-10-04 → 2026-11-03
2026-10-04T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:8f89eaf5b2468b80bf27fcc6912b06c04246dca3ae35cdeb75a79d0c65342134
ETH 2W bf25moveFullHistory57 samples; 1 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:df206598ccfc86364f15d9871df604f2e6e29bc8b4db822edfe1a3b40cd2dad1
ETH 2W bf25levelFullHistory62 samples; 0 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:69e3a87d633c8fab17ae01e46a6be8dc4cc8ae3dba6c68addca8fb286f4e5844
ETH 2W rr25move30d28 samples; 1 days; daily UTC observations2026-10-04 → 2026-11-03
2026-10-04T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:81cc386712e4fe438413ad7a90c2c3f1c2b2d171584bad6983f5569776142423
ETH 2W rr25moveFullHistory57 samples; 1 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:392597f1189baf717a47070e8763a47902148b8e0d639c08a50f8707e7f76f4c
ETH 2W rr25levelFullHistory62 samples; 0 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:da3ffa00db70a039346f0efc996f7153562b65535d27334d0d9a769c3d566f03
ETH 1M atmIvmove30d28 samples; 1 days; daily UTC observations2026-10-04 → 2026-11-03
2026-10-04T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:597fce2e77713313b4087bc51fba8592a081737fa2b3cd79f64dc720237ce4f6
ETH 1M atmIvmoveFullHistory57 samples; 1 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:03030d4190897b33f335c9db61d90820e3331c4fd456a6a382849df30ab263fe
ETH 1M atmIvlevelFullHistory62 samples; 0 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:2a030b4f29b60888ff2a7a19396348c46819396e6071dfb4dc06f8864cbadcad
ETH 1M bf25move30d28 samples; 1 days; daily UTC observations2026-10-04 → 2026-11-03
2026-10-04T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:0306d726514c612bb5a8cffde5ae19e903c3922508397907dcd241a61d9bf0b1
ETH 1M bf25moveFullHistory57 samples; 1 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:ce12b6d1cdf1ef1af32d5baf1c8c2ac7f6f2143281f9345dc967afd354de24cc
ETH 1M bf25levelFullHistory62 samples; 0 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:379bbbfe13d4454b3ba5e744fb0fdd1f7a888c2ba8acce9f0be569a2dd37e216
ETH 1M rr25move30d28 samples; 1 days; daily UTC observations2026-10-04 → 2026-11-03
2026-10-04T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:a0e6898e9b45b447a3b518b8a63e7616021701b1c5479986f16f8bf32bfc4cb6
ETH 1M rr25moveFullHistory57 samples; 1 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:256c4c8d29792e2c61715b67b3097e33a7862ea29cac4cccda7a4c6dd2f04c83
ETH 1M rr25levelFullHistory62 samples; 0 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:5efd08f02148ee1533f36390445186a0ff1f0bef243e19dd5d9e5e183ebed7d1
ETH 3M atmIvmove30d28 samples; 1 days; daily UTC observations2026-10-04 → 2026-11-03
2026-10-04T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:2d35ae041967c40cfbf1979284665f105d344049dcf049323174da4d4768f89c
ETH 3M atmIvmoveFullHistory57 samples; 1 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:f1125987297855e50907bb440ceb230ae04c27080a5de3b9dd9cc6f01dbf7515
ETH 3M atmIvlevelFullHistory62 samples; 0 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:996e9ee2045ac1a8935029230185bcda58c7dc4c31a1b93c2159ac4174a0142b
ETH 3M bf25move30d28 samples; 1 days; daily UTC observations2026-10-04 → 2026-11-03
2026-10-04T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:c9fe01c0e7baf681564b20ccdbf032c847bef53ab0e4acc91986dcda7076c720
ETH 3M bf25moveFullHistory57 samples; 1 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:49db9b10d464557aa863ae7416625d25d21e4ba9526501c90db8129a156584ac
ETH 3M bf25levelFullHistory62 samples; 0 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:7c1eeca5a9753e0558a72678036c37789b01dd810bfc9e7c1a54a3264cf439ad
ETH 3M rr25move30d28 samples; 1 days; daily UTC observations2026-10-04 → 2026-11-03
2026-10-04T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:f8c16c5fe149f14d3bc0210663928b5d2fc3d13e48fa582f802865f0abb890fb
ETH 3M rr25moveFullHistory57 samples; 1 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:569c18c69423659774d224719c9784d19ea17077864ab6d57dddcadb95ddebca
ETH 3M rr25levelFullHistory62 samples; 0 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:c215b5c846a6e38904bda2227707e55477f8fd442c2a784d419884c9a2370e00
ETH 6M atmIvmove30d28 samples; 1 days; daily UTC observations2026-10-04 → 2026-11-03
2026-10-04T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:89d057804a3e856d95269c3e8daa5866c53408c168ab9bfa2cc94a5cb4f8dd7c
ETH 6M atmIvmoveFullHistory57 samples; 1 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:55c1b9785e2566301134e441ec62209aadee43ece9b92c7596400ff2835ee7c9
ETH 6M atmIvlevelFullHistory62 samples; 0 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:b8c6a7d0eec40990d0c785dae1f260ccfe41e3b258364bb2a7e8c0f791b3b536
ETH 6M bf25move30d28 samples; 1 days; daily UTC observations2026-10-04 → 2026-11-03
2026-10-04T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:8c073ea3a7a1ee67d6e17d9765554f8d17bbabbb0091a16e53d9c4dde05ad737
ETH 6M bf25moveFullHistory57 samples; 1 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:58707d5c5b427b175e9fc7c671ec8fc999ecb1532f8269c5dd29fb1664c0c882
ETH 6M bf25levelFullHistory62 samples; 0 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:de136b64bd68c5e5d6ab96052c28256fb355e484995ae4997309431f24036fa7
ETH 6M rr25move30d28 samples; 1 days; daily UTC observations2026-10-04 → 2026-11-03
2026-10-04T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:1116eaa03fca894641576ca26021f7a2525751d761285922cad2da1d838a09d9
ETH 6M rr25moveFullHistory57 samples; 1 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:d7e859aaffc9251f15804481d7174a62e0e15563718dd9c7e77a90adf5b88503
ETH 6M rr25levelFullHistory62 samples; 0 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:a7b126e1af7bc4468896d1aee35ebc8cddee4a9976ec976f23a4239e02e6935f
ETH 9M atmIvmove30d28 samples; 1 days; daily UTC observations2026-10-04 → 2026-11-03
2026-10-04T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:5e556eea8f4566f82a9fb7936bdddd92d02ecb645ee70d946337625ebcba9689
ETH 9M atmIvmoveFullHistory57 samples; 1 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:030bf752f52459d5457acf5437a9c6e3829e659e102de8b71544adef4a03a4cd
ETH 9M atmIvlevelFullHistory62 samples; 0 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:58408f5c5297d22643eadcf3f3b78fbb9e87ed42d4f1ba9ecc2bbe4c23c7796b
ETH 9M bf25move30d28 samples; 1 days; daily UTC observations2026-10-04 → 2026-11-03
2026-10-04T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:2cf981bbf74eb705e014bfd466aee1411fccb1ef058fd43ef7b2a190a7815ac5
ETH 9M bf25moveFullHistory57 samples; 1 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:9b0a2fe420f4e9579fd551cecca21cc638aaecc5c18352835d1c9d7ebdbad43b
ETH 9M bf25levelFullHistory62 samples; 0 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:d4ff47dd2238b44c77ba7ed5405f34434fdc3efe2e338efd52de37f25a83919f
ETH 9M rr25move30d28 samples; 1 days; daily UTC observations2026-10-04 → 2026-11-03
2026-10-04T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:54799606c9792ab69e88e6b695da842951b430e5b7caf92e17a401d688c55b51
ETH 9M rr25moveFullHistory57 samples; 1 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:de78d27a30cb57ad696b232350b581d1480401cbac9d275bbacdfb08476fd085
ETH 9M rr25levelFullHistory62 samples; 0 days; daily UTC observations2026-08-30 → 2026-11-03
2026-08-30T17:31:00+00:00 → 2026-11-03T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:0b4b10bb5efa09567b5a2004896ccbb120180ce58f03dbf06cf844ebea2c2365
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 7NOV26; the largest sigma change occurred at 7NOV26.

ExpiryΔ aΔ bΔ rhoΔ mΔ sigmaSmile classification
5NOV26+0.00370-0.04100+0.05430+0.01300+0.17400rotation towards calls, wing steepening
6NOV26+0.00850-0.03190+0.01500-0.00280+0.08150rotation towards calls, wing steepening
7NOV26-0.01380-0.01150-0.06450-0.05920+0.12650rotation towards puts, wing steepening
13NOV26-0.00850+0.00100-0.01190-0.01410+0.03800wing steepening
20NOV26-0.00620+0.00170-0.00820-0.01500+0.02330rotation towards calls
27NOV26+0.00080+0.00210-0.00730-0.00480-0.01870mixed reshaping
25DEC26+0.00200+0.00130-0.00290-0.00030-0.01810parallel shift higher
29JAN27+0.00630+0.00270-0.01070-0.00490-0.03810parallel shift higher
26MAR27+0.00910-0.00110+0.00430+0.00420-0.03970parallel shift higher
25JUN27+0.01500-0.00320+0.00980+0.02550-0.05490parallel shift higher
24SEP27-0.00520+0.01000-0.02540-0.04370+0.00260parallel 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 Gamma5NOV26, 0.008979 1 / USD
Highest Theta Decay5NOV26, -14.684747 USD / day
Highest Vanna24SEP27, 0.00182 delta / vol pt
Highest Vega24SEP27, 9.200036 USD / vol pt
Highest Volga24SEP27, -0.010842 USD / vol pt²

7D realised volatility · data quality

AssetRecorded RVStatusCoverage / requiredLongest gap / maximum
ETH54.33%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.

7D return concentration and RV sensitivity

Diagnostic based on observed one-minute returns. Removing the largest squared returns illustrates sensitivity; it does not establish price validity or compare independent venues. Coverage limitations above still apply.

AssetReturnsTop 1 / 5 / 10 share of squared returnsRV excluding top 1 / 5 / 10
ETH100802.67% / 8.69% / 12.64%53.60% / 51.93% / 50.80%

ETH largest log return: -1.2305% at 30 Oct 2026, 00:18:00 UTC; previous bar eth_usd / deribit (non-fallback); current bar eth_usd / deribit (non-fallback).

RV coverage and methodology

ETH · Available · Surface cutoff 04 Nov 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
04 Nov 2026, 17:31 UTC
Comparison snapshot
03 Nov 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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