Derivasys
Open Dashboard

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

Major-coin options diverge as Ether rises while Bitcoin and Solana cheapen

Published · By Sean Gordon / Derivasys Research · Latest component snapshot

Major-coin one-week ATM IV changes split sharply at the cutoff: Ether rose 1.60 volatility points, Bitcoin fell 2.65 points and Solana fell 2.80 points. That produced a 4.40-point range between Ether and Solana. The divergence widened the difference in short-dated volatility levels, with Ether at 51.60% and Bitcoin at 36.34%.

01 · Market read

The day across the three live Derivasys markets.

The major-coin complex separated at the one-week tenor, with a 4.40-volatility-point ATM IV change range between Ether and Solana.

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 widening, at +15.26 vol pts; daily one-week ATM IV changes span +4.40 vol pts across the complex.

ETH screens richest and BTC cheapest on one-week implied volatility versus seven-day realised volatility, with a 2.40-point cross-sectional range.

Aligned 24-hour spot correlations: BTC/ETH 0.82 (14 observations).

ETH

1W ATM IV change

+4.25 points from the group median

BTC

1W ATM IV level

-14.12 points from the group median

BTC

1W RR25 level

-2.49 points from the group median

Relative-value rankings

Leaders and laggards across the same cutoff.

Metric1st2nd3rd
1W ATM IV levelETH · 51.60 · up 1SOL · 50.46 · down 1BTC · 36.34
Daily 1W ATM IV changeETH · 1.60BTC · -2.65SOL · -2.80
1W IV minus 7d realisedETH · 7.58BTC · 5.18SOL · unavailable
Most call-rich 1W RR25SOL · 4.05 · up 2ETH · 2.60BTC · 0.11 · down 2
Most put-rich 1W RR25BTC · 0.11 · up 2ETH · 2.60SOL · 4.05 · down 2
1Y minus 1W curve slopeBTC · unavailableETH · unavailableSOL · unavailable
Largest 1Y minus 1W curve changeBTC · unavailableETH · unavailableSOL · unavailable
24h spot performanceETH · 5.17BTC · 1.00SOL · 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 2.1–2.9 times VIX, while short-window equity correlations remained low.

Asset30d ATM IVVIX spreadIV / VIX20d crypto RV20-session SPX RVRV spread percentile30-session correlation
BTC37.49%+19.65 vol pts2.10×33.42%8.73%39.0 percentile+0.203
ETH51.09%+33.25 vol pts2.86×32.20%8.73%7.0 percentile-0.006
SOL51.82%+33.98 vol pts2.90×71.33%8.73%47.6 percentile+0.248

As of 10 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.

AssetSpot 24h1W ATM1W ATM Δ7d RV1W IV − 7d RV1W RR251W BF25
BTC+1.00%36.34%-2.65 vol pts31.16%+5.18 vol pts+0.11 vol pts+1.89 vol pts
ETH+5.17%51.60%+1.60 vol pts44.02%+7.58 vol pts+2.60 vol pts+3.12 vol pts
SOLUnavailable50.46%-2.80 vol ptsUnavailableUnavailable+4.05 vol pts+3.99 vol pts

04 · Term structures

ATM implied volatility across common standard tenors.

Asset1W ATM / Δ1M ATM / Δ3M ATM / Δ6M ATM / Δ
BTC36.34% / -2.6536.08% / -1.4138.66% / -0.4339.67% / -0.40
ETH51.60% / +1.6051.00% / -0.2752.91% / -0.0154.27% / -0.15
SOL50.46% / -2.8052.26% / +0.2151.80% / +0.30Unavailable

05 · Constituent evidence

Audit the independently published source artifacts.

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.