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Daily major-coins market report · BTC, ETH and SOL

Major-coin options retain a wide implied-versus-realised volatility gap as ETH leads

Major-coin one-week implied volatility minus seven-day realised volatility spans 13.91 volatility points between ETH and SOL. Major-coin one-week ATM IV level dispersion narrowed by 7.42 volatility points to 14.87 volatility points between SOL and BTC.

Generated · By Sean Gordon / Derivasys Research

Snapshot data and comparison

Snapshot · 3 Sept 2026, 16:38 UTC

Generated timestamp:

  • BTCSpot-index 24h +4.51%1W ATM IV 37.02%1W RR25 +1.94 vol pts1W BF25 +2.16 vol pts1W IV − 7D RV Unavailable
  • ETHSpot-index 24h +4.27%1W ATM IV 47.71%1W RR25 +0.52 vol pts1W BF25 +2.80 vol pts1W IV − 7D RV Unavailable
  • SOLSpot-index 24h +5.16%1W ATM IV 51.89%1W RR25 +3.49 vol pts1W BF25 +3.83 vol pts1W IV − 7D RV Unavailable

Market context · daily observation window

Market context

BTC spot-index return unavailable; 1W ATM IV rose 5.75 volatility points to 37.02% over the daily window. RR25 moved toward calls (+2.86 points); BF25 wing premium increased (+0.22 points); 1/3 assets had lower 1W ATM IV; partial native coverage (9/12 measurements).

Previous report, watch levels and methodology

One-week surface context; the published headline retains its original evidence basis. Cutoffs 2 Sept, 16:38 UTC to 3 Sept, 16:38 UTC.

Measured change since prior report

Prior comparison unavailable: the exact adjacent published edition could not be verified.

A structured watchlist was not recorded or could not be verified in the prior edition; prior-watch outcomes remain unavailable.

Next daily cutoff: measurable checks

These checks are reconstructed from this edition’s stored endpoints; they were not recorded in the original report.

  • Hold the observed level: BTC 1W ATM IV ≥ 37.02 percent at . Current level 37.02; threshold is the current observed endpoint.
  • Full retrace: BTC 1W ATM IV ≤ 31.27 percent at . Current level 37.02; 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. Derived from verified legacy artifact endpoints.

Canonical current report JSON · SHA-256 a5ffee15ac3a2f6c20bf9581fe2a177dee8611a3968311c9afa589671a535619

Consumed endpoint proof: 26be43eabe3c6396204323ed84a61e7bf0c1de66cb7237f149bf18ee33cf6c86

  • BTC:atmIv:1W:observed-current-level: rows[asset=BTC].report.tenors[tenor=1W].atmIv.previous; rows[asset=BTC].report.tenors[tenor=1W].atmIv.current; rows[asset=BTC].report.tenors[tenor=1W].atmIv.change; evaluation window 2026-09-03T16:38:00+00:00 to 2026-09-04T16:38:00+00:00.
  • BTC:atmIv:1W:observed-previous-level: rows[asset=BTC].report.tenors[tenor=1W].atmIv.previous; rows[asset=BTC].report.tenors[tenor=1W].atmIv.current; rows[asset=BTC].report.tenors[tenor=1W].atmIv.change; evaluation window 2026-09-03T16:38:00+00:00 to 2026-09-04T16:38:00+00:00.

01 · Market read

The day across the three live Derivasys markets.

The major-coin options complex retains a marked gap between ETH and SOL on one-week implied volatility versus seven-day realised volatility.

Cross-sectional observations

One-week ATM IV level dispersion: Compression: absolute level gap 14.87 vol points; absolute gap change -7.42 vol points. Stored one-week tenor comparison at this cutoff across 3 assets.

Daily one-week ATM IV-change dispersion: The cross-asset spread is 7.42 vol points. Stored daily changes across 3 assets.

SOL stands apart: 1W ATM IV change is 6.40 vol points below the group median. Stored cross-section of 3 assets at this report cutoff.

This is a comparison, not a pooled surface: each asset keeps its own forwards, expiries, SVI fit and realised-volatility history.

Cross-sectional thesis

Where the complex is diverging.

One-week ATM IV level dispersion is compressing, at 14.87 vol pts; daily one-week ATM IV changes span 7.42 vol pts across the complex.

ETH has the highest 1W IV-minus-7D-RV spread at +4.02 vol points; SOL has the lowest at -9.89 vol points. The range between these spreads is 13.91 vol points.

SOL

1W ATM IV change

-6.40 points from the group median

BTC

1W ATM IV level

-10.69 points from the group median

SOL

1W RR25 level

+1.55 points from the group median

SOL

1Y minus 1W ATM IV slope

-4.36 points from the group median

SOL

1W IV minus 7D realised volatility

-11.95 points from the group median

Relative-value rankings

Leaders and laggards across the same cutoff.

Metric1st2nd3rd
1W ATM IV levelSOL · 51.89ETH · 47.71BTC · 37.02
Daily 1W ATM IV changeBTC · 5.75ETH · 4.73SOL · -1.67
1W IV minus 7d realisedETH · 4.02BTC · 2.06SOL · -9.89
Highest 1W RR25SOL · 3.49BTC · 1.94ETH · 0.52
Lowest 1W RR25ETH · 0.52BTC · 1.94SOL · 3.49
1Y minus 1W curve slopeETH · 8.15BTC · 5.30SOL · 0.94
Largest 1Y minus 1W curve changeBTC · -5.37ETH · -4.89SOL · 1.17
24h spot performanceSOL · 5.16BTC · 4.51ETH · 4.27

Completed-session cross-asset context

Crypto volatility against VIX and SPX.

The benchmark comparison is separately timestamped to the latest completed US session; it does not replace the intraday crypto surface cutoffs above.

BTC and ETH and SOL 30-day implied volatility remained 2.3–3.5 times VIX, while short-window equity correlations remained low.

Asset30d ATM IVVIX spreadIV / VIXReported crypto RVReported SPX RVRV spread percentile30-session correlation
BTC34.48%+19.28 vol pts2.27×45.41%7.59%percentile rank 78.8%+0.112
ETH48.87%+33.67 vol pts3.22×62.32%7.59%percentile rank 58.3%+0.021
SOL53.18%+37.98 vol pts3.50×73.10%7.59%percentile rank 52.7%+0.233

BTC: 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.

ETH: 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.

SOL: 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 02 Sept 2026, 20:00 UTC.

03 · Cross-asset scorecard

Implied volatility, realised volatility and skew.

AssetSpot 24h1W ATM1W ATM Δ7d RV1W IV − 7d RV1W RR251W BF25
BTC+4.51%37.02%+5.75 vol pts34.96%+2.06 vol pts+1.94 vol pts+2.16 vol pts
ETH+4.27%47.71%+4.73 vol pts43.69%+4.02 vol pts+0.52 vol pts+2.80 vol pts
SOL+5.16%51.89%-1.67 vol pts61.78%-9.89 vol pts+3.49 vol pts+3.83 vol pts

04 · Term structures

ATM implied volatility across common standard tenors.

Asset1W ATM / Δ1M ATM / Δ3M ATM / Δ6M ATM / Δ1Y ATM / Δ
BTC37.02% / +5.7537.42% / +2.6639.31% / +1.8740.50% / +0.9342.32% / +0.38
ETH47.71% / +4.7350.44% / +1.3952.06% / +0.9254.23% / +0.6855.86% / -0.16
SOL51.89% / -1.6752.71% / -0.8652.91% / -0.4952.86% / -0.4952.83% / -0.50

05 · Constituent evidence

Audit the independently published source artifacts.

Evidence, source data and methodology

Major Coins report data

Download the report’s stored cross-asset comparisons, rankings, declared lead evidence and per-asset quality information. Missing analysis remains unavailable.

Download report JSON · Download report CSV

Original report summary

Major-coin one-week implied volatility minus seven-day realised volatility spans 13.91 volatility points between ETH and SOL. Major-coin one-week ATM IV level dispersion narrowed by 7.42 volatility points to 14.87 volatility points between SOL and BTC.

At report cutoff · Levels and stored endpoint changes

What matters now

Vol: BTC 1W ATM IV 37.02% · Δ +5.75 vol pts; ETH 1W ATM IV 47.71% · Δ +4.73 vol pts; SOL 1W ATM IV 51.89% · Δ -1.67 vol pts

Skew: BTC 1W RR25 1.94 vol pts · Δ +2.86 vol pts; ETH 1W RR25 0.52 vol pts · Δ +2.11 vol pts; SOL 1W RR25 3.49 vol pts · Δ +3.76 vol pts

IV level gap: 1W ATM IV level gap 14.87 vol pts (SOL 51.89% versus BTC 37.02%) · SOL minus BTC spread Δ -7.42 vol pts

Vol

BTC 1W ATM IV 37.02% · Δ +5.75 vol ptspercentile rank 93.2% by absolute move · full history (n=132)

ETH 1W ATM IV 47.71% · Δ +4.73 vol pts

SOL 1W ATM IV 51.89% · Δ -1.67 vol pts

Skew

BTC 1W RR25 1.94 vol pts · Δ +2.86 vol ptspercentile rank 93.3% by absolute move · 30-day window (n=30)

ETH 1W RR25 0.52 vol pts · Δ +2.11 vol pts

SOL 1W RR25 3.49 vol pts · Δ +3.76 vol pts

Wings

BTC 1W BF25 2.16 vol pts · Δ +0.22 vol ptspercentile rank 70.0% by absolute move · 30-day window (n=30)

ETH 1W BF25 2.80 vol pts · Δ +0.21 vol pts

SOL 1W BF25 3.83 vol pts · Δ +0.38 vol pts

IV versus RV

BTC Unavailable

ETH Unavailable

SOL Unavailable

Unavailable readings: BTC IV versus RV; ETH IV versus RV; SOL IV versus RV. See the report’s data availability notes.

Δ compares the report’s stored surface endpoints. IV versus RV is a level comparison, not a daily change.

Component cutoffs: BTC 3 Sept 2026, 16:38 UTC; ETH 3 Sept 2026, 16:38 UTC; SOL 3 Sept 2026, 16:38 UTC. Each asset is shown separately.

Historical move evidence

BTC 1W ATM IV: percentile rank 93.2% by absolute move · full history (n=132)

BTC 1W RR25: percentile rank 93.3% by absolute move · 30-day window (n=30)

BTC 1W BF25: percentile rank 70.0% by absolute move · 30-day window (n=30)

7D realised volatility · data quality

AssetRecorded RVStatusCoverage / requiredLongest gap / maximum
BTCUnavailableUnavailablenot recorded / not recorded requirednot recorded / not recorded maximum
ETHUnavailableUnavailablenot recorded / not recorded requirednot recorded / not recorded maximum
SOLUnavailableUnavailablenot recorded / not recorded requirednot recorded / not recorded 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

BTC · Unavailable · Surface cutoff 03 Sept 2026, 16:38:00 UTC · 7D coverage not recorded / not recorded required · largest 7D gap not recorded / not recorded maximum · maximum gap not recorded. RV suppressed — valid 7D coverage was not recorded. Full 7D coverage policy was not recorded.

ETH · Unavailable · Surface cutoff 03 Sept 2026, 16:38:00 UTC · 7D coverage not recorded / not recorded required · largest 7D gap not recorded / not recorded maximum · maximum gap not recorded. RV suppressed — valid 7D coverage was not recorded. Full 7D coverage policy was not recorded.

SOL · Unavailable · Surface cutoff 03 Sept 2026, 16:38:00 UTC · 7D coverage not recorded / not recorded required · largest 7D gap not recorded / not recorded maximum · maximum gap not recorded. RV suppressed — valid 7D coverage was not recorded. Full 7D coverage policy was not recorded.

Source data JSON

06 · Methodology and provenance

A derived publication with no duplicated market data.

The report is assembled at request time from the immutable BTC, ETH and SOL daily-report artifacts for the same UTC report date. It is omitted unless all three exist. Cross-asset averages are descriptive and equal-weighted; no attempt is made to combine distinct volatility surfaces into a single fit.

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