01 · Market read
The day across the three live Derivasys markets.
Ether’s one-week ATM IV rise and Solana’s one-week ATM IV decline produced the major-coin options split.
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 +16.86 vol pts; daily one-week ATM IV changes span +2.54 vol pts across the complex.
ETH screens richest and BTC cheapest on one-week implied volatility versus seven-day realised volatility, with a 1.17-point cross-sectional range.
Aligned 24-hour spot correlations: BTC/ETH 0.92 (10 observations).
1W ATM IV change
+1.44 points from the group median
1W ATM IV level
-11.16 points from the group median
1W RR25 level
+0.91 points from the group median
Relative-value rankings
Leaders and laggards across the same cutoff.
| Metric | 1st | 2nd | 3rd |
|---|---|---|---|
| 1W ATM IV level | SOL · 53.53 | ETH · 47.83 | BTC · 36.67 |
| Daily 1W ATM IV change | ETH · 1.40 | BTC · -0.04 | SOL · -1.14 |
| 1W IV minus 7d realised | ETH · 3.66 | BTC · 2.49 | SOL · unavailable |
| Most call-rich 1W RR25 | ETH · 0.77 · up 1 | SOL · -0.14 · down 1 | BTC · -0.22 |
| Most put-rich 1W RR25 | BTC · -0.22 | SOL · -0.14 · up 1 | ETH · 0.77 · down 1 |
| 1Y minus 1W curve slope | BTC · unavailable | ETH · unavailable | SOL · unavailable |
| Largest 1Y minus 1W curve change | BTC · unavailable | ETH · unavailable | SOL · unavailable |
| 24h spot performance | ETH · -0.11 | BTC · -0.89 | SOL · unavailable |
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.
| Asset | 30d ATM IV | VIX spread | IV / VIX | 20d crypto RV | 20-session SPX RV | RV spread percentile | 30-session correlation |
|---|---|---|---|---|---|---|---|
| BTC | 36.20% | +21.67 vol pts | 2.49× | 50.32% | 8.30% | 87.7 percentile | +0.158 |
| ETH | 49.28% | +34.75 vol pts | 3.39× | 65.32% | 8.30% | 60.4 percentile | +0.029 |
| SOL | 50.73% | +36.20 vol pts | 3.49× | 76.48% | 8.30% | 59.5 percentile | +0.252 |
As of 04 Sept 2026, 20:00 UTC. Crypto RV uses calendar days and sqrt(365); SPX RV uses US sessions and sqrt(252).
03 · Cross-asset scorecard
Implied volatility, realised volatility and skew.
04 · Term structures
ATM implied volatility across common standard tenors.
| Asset | 1W ATM / Δ | 1M ATM / Δ | 3M ATM / Δ | 6M ATM / Δ |
|---|---|---|---|---|
| BTC | 36.67% / -0.04 | 37.01% / -0.32 | 38.82% / -0.06 | 39.93% / -0.21 |
| ETH | 47.83% / +1.40 | 50.68% / -0.05 | 52.20% / -0.31 | 54.29% / -0.05 |
| SOL | 53.53% / -1.14 | 52.58% / -0.32 | 51.68% / -0.23 | Unavailable |
05 · Constituent evidence
Audit the independently published source artifacts.
07 Sept 2026, 16:54 UTC
Read the BTC report07 Sept 2026, 16:54 UTC
Read the ETH report07 Sept 2026, 16:54 UTC
Read the SOL report06 · 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.