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

Major-coin options skew converges as Solana–Ether one-week RR25 spread compresses

One-week RR25 dispersion across Bitcoin, Ether and Solana narrowed 3.02 volatility points to 0.89 volatility points. Solana’s one-week RR25 was 2.25%, while Ether’s one-week RR25 was 1.36%. One-week ATM IV levels spanned 15.67 volatility points between Solana and Bitcoin.

Generated · By Sean Gordon / Derivasys Research

Snapshot data and comparison

Snapshot · 5 Sept 2026, 18:43 UTC

Generated timestamp:

  • BTCSpot-index 24h +0.40%1W ATM IV 34.95%1W RR25 +1.62 vol pts1W BF25 +1.76 vol pts1W IV − 7D RV Unavailable
  • ETHSpot-index 24h +1.10%1W ATM IV 43.37%1W RR25 +1.36 vol pts1W BF25 +2.42 vol pts1W IV − 7D RV Unavailable
  • SOLSpot-index 24h Unavailable1W ATM IV 50.62%1W RR25 +2.25 vol pts1W BF25 +3.49 vol pts1W IV − 7D RV Unavailable

Market context · daily observation window

Market context

BTC spot-index return unavailable; 1W ATM IV rose 3.24 volatility points to 34.95% over the daily window. RR25 moved toward calls (+1.02 points); BF25 wing premium increased (+0.08 points); 0/3 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 4 Sept, 18:43 UTC to 5 Sept, 18:43 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 ≥ 34.95 percent at . Current level 34.95; threshold is the current observed endpoint.
  • Full retrace: BTC 1W ATM IV ≤ 31.71 percent at . Current level 34.95; 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 24a1f18a53af7a2aafb21623534275f5d0afec44f3d5ea33fe8fab39d68cc813

Consumed endpoint proof: f7a342a04a2048ab01c6395aa844d1fb06d5e986bb7af84ef58b347586d044fa

  • 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 2026-09-05T18:43:00+00:00 to 2026-09-06T18:43:00+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 2026-09-05T18:43:00+00:00 to 2026-09-06T18:43:00+00:00.

01 · Market read

The day across the three live Derivasys markets.

The main relative-value development was a pronounced narrowing in one-week call-side volatility differences across the three major coins.

Cross-sectional observations

One-week ATM IV level dispersion: Compression: absolute level gap 15.67 vol points; absolute gap change -1.34 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 1.46 vol points. Stored daily changes across 3 assets.

BTC stands apart: 1W ATM IV change is 1.34 vol points above 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 15.67 vol pts; daily one-week ATM IV changes span 1.46 vol pts across the complex.

BTC has the highest 1W IV-minus-7D-RV spread at -1.59 vol points; ETH has the lowest at -3.46 vol points. The range between these spreads is 1.87 vol points.

BTC

1W ATM IV change

+1.34 points from the group median

BTC

1W ATM IV level

-8.42 points from the group median

SOL

1W RR25 level

+0.63 points from the group median

Relative-value rankings

Leaders and laggards across the same cutoff.

Metric1st2nd3rd
1W ATM IV levelSOL · 50.62ETH · 43.37BTC · 34.95
Daily 1W ATM IV changeBTC · 3.24SOL · 1.90ETH · 1.78
1W IV minus 7d realisedBTC · -1.59ETH · -3.46—
Highest 1W RR25SOL · 2.25BTC · 1.62ETH · 1.36
Lowest 1W RR25ETH · 1.36BTC · 1.62SOL · 2.25
24h spot performanceETH · 1.10BTC · 0.40—

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 2.5–3.5 times VIX, while short-window equity correlations remained low.

Asset30d ATM IVVIX spreadIV / VIXReported crypto RVReported SPX RVRV spread percentile30-session correlation
BTC36.20%+21.67 vol pts2.49×50.32%8.30%percentile rank 87.7%+0.158
ETH49.28%+34.75 vol pts3.39×65.32%8.30%percentile rank 60.4%+0.029
SOL50.73%+36.20 vol pts3.49×76.48%8.30%percentile rank 59.5%+0.252

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 04 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+0.40%34.95%+3.24 vol pts36.54%-1.59 vol pts+1.62 vol pts+1.76 vol pts
ETH+1.10%43.37%+1.78 vol pts46.83%-3.46 vol pts+1.36 vol pts+2.42 vol pts
SOLUnavailable50.62%+1.90 vol ptsUnavailableUnavailable+2.25 vol pts+3.49 vol pts

04 · Term structures

ATM implied volatility across common standard tenors.

Asset1W ATM / Δ1M ATM / Δ3M ATM / Δ6M ATM / Δ
BTC34.95% / +3.2436.98% / +1.0138.93% / +0.5340.15% / +0.24
ETH43.37% / +1.7849.46% / +0.0452.08% / -0.0154.17% / -0.02
SOL50.62% / +1.9051.62% / +0.8851.44% / +0.59Unavailable

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

One-week RR25 dispersion across Bitcoin, Ether and Solana narrowed 3.02 volatility points to 0.89 volatility points. Solana’s one-week RR25 was 2.25%, while Ether’s one-week RR25 was 1.36%. One-week ATM IV levels spanned 15.67 volatility points between Solana and Bitcoin.

At report cutoff · Levels and stored endpoint changes

What matters now

Vol: BTC 1W ATM IV 34.95% · Δ +3.24 vol pts; ETH 1W ATM IV 43.37% · Δ +1.78 vol pts; SOL 1W ATM IV 50.62% · Δ +1.90 vol pts

Skew: BTC 1W RR25 1.62 vol pts · Δ +1.02 vol pts; ETH 1W RR25 1.36 vol pts · Δ +2.83 vol pts; SOL 1W RR25 2.25 vol pts · Δ -0.19 vol pts

IV level gap: 1W ATM IV level gap 15.67 vol pts (SOL 50.62% versus BTC 34.95%) · SOL minus BTC spread Δ -1.34 vol pts

Vol

BTC 1W ATM IV 34.95% · Δ +3.24 vol ptspercentile rank 82.8% by absolute move · full history (n=134)

ETH 1W ATM IV 43.37% · Δ +1.78 vol pts

SOL 1W ATM IV 50.62% · Δ +1.90 vol pts

Skew

BTC 1W RR25 1.62 vol pts · Δ +1.02 vol ptspercentile rank 64.9% by absolute move · full history (n=134)

ETH 1W RR25 1.36 vol pts · Δ +2.83 vol pts

SOL 1W RR25 2.25 vol pts · Δ -0.19 vol pts

Wings

BTC 1W BF25 1.76 vol pts · Δ +0.08 vol ptspercentile rank 30.0% by absolute move · 30-day window (n=30)

ETH 1W BF25 2.42 vol pts · Δ +0.03 vol pts

SOL 1W BF25 3.49 vol pts · Δ +0.23 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 5 Sept 2026, 18:43 UTC; ETH 5 Sept 2026, 18:43 UTC; SOL 5 Sept 2026, 18:43 UTC. Each asset is shown separately.

Historical move evidence

BTC 1W ATM IV: percentile rank 82.8% by absolute move · full history (n=134)

BTC 1W RR25: percentile rank 64.9% by absolute move · full history (n=134)

BTC 1W BF25: percentile rank 30.0% 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 05 Sept 2026, 18:43:00 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 05 Sept 2026, 18:43:00 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 05 Sept 2026, 18:43:00 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. Canonical SOL index coverage for 24h is incomplete: expected 1440 returns, found 1405 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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