01 · Market read
The day across the three live Derivasys markets.
Major-coin options became less dispersed at the one-week horizon. Solana one-week ATM IV was highest at 57.41% and Bitcoin one-week ATM IV was lowest at 39.43%, leaving a 17.98-point spread that narrowed by 3.14 volatility points from the prior snapshot.
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 +17.98 vol pts; daily one-week ATM IV changes span +3.28 vol pts across the complex.
BTC screens richest and ETH cheapest on one-week implied volatility versus seven-day realised volatility, with a 0.07-point cross-sectional range.
Aligned 24-hour spot correlations: BTC/ETH 0.85 (18 observations).
1W ATM IV change
+3.14 points from the group median
1W ATM IV level
-15.61 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 · 57.41 | ETH · 55.04 | BTC · 39.43 |
| Daily 1W ATM IV change | BTC · 1.20 | SOL · -1.94 | ETH · -2.08 |
| 1W IV minus 7d realised | BTC · 4.40 | ETH · 4.33 | SOL · unavailable |
| Most call-rich 1W RR25 | SOL · -0.20 | BTC · -1.11 · up 1 | ETH · -1.59 · down 1 |
| Most put-rich 1W RR25 | ETH · -1.59 · up 1 | BTC · -1.11 · down 1 | SOL · -0.20 |
| 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 | BTC · -3.91 | ETH · -6.17 | SOL · unavailable |
02 · Macro and crypto diary
Major-coin options show one-week relative volatility level dispersion between Solana and Bitcoin
The one-week ATM IV dispersion between Solana and Bitcoin compressed by 3.14 volatility points to 17.98 volatility points. Solana one-week ATM IV remained highest at 57.41% and Bitcoin one-week ATM IV lowest at 39.43%, while Bitcoin one-week ATM IV rose 1.20 volatility points, Ether one-week ATM IV fell 2.08 volatility points, and Solana one-week ATM IV fell 1.94 volatility points. One-week RR25 dispersion among Bitcoin, Ether and Solana also narrowed by 2.64 volatility points to 1.39 volatility points, as all three assets shifted toward relative put-side volatility.
15 September 2026
Major-coin volatility spreads compress
One-week implied-volatility and skew gaps narrowed across Bitcoin, Ether and Solana options.
Macro: US government bond yields reached a 19-year peak as oil prices rose.
Crypto: No qualifying cross-major crypto context was retained.
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 2.1–3.2 times VIX, while short-window equity correlations remained mixed.
| Asset | 30d ATM IV | VIX spread | IV / VIX | 20d crypto RV | 20-session SPX RV | RV spread percentile | 30-session correlation |
|---|---|---|---|---|---|---|---|
| BTC | 36.92% | +19.72 vol pts | 2.15× | 37.09% | 9.06% | 50.0 percentile | +0.231 |
| ETH | 52.73% | +35.53 vol pts | 3.07× | 41.21% | 9.06% | 16.5 percentile | +0.124 |
| SOL | 54.86% | +37.66 vol pts | 3.19× | 73.81% | 9.06% | 51.3 percentile | +0.325 |
As of 15 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 | 39.43% / +1.20 | 37.13% / +0.27 | 38.37% / -0.07 | 39.15% / -0.29 |
| ETH | 55.04% / -2.08 | 52.60% / -0.28 | 53.92% / +0.41 | 54.83% / +0.05 |
| SOL | 57.41% / -1.94 | 54.86% / -0.83 | 53.99% / -0.89 | Unavailable |
05 · Constituent evidence
Audit the independently published source artifacts.
15 Sept 2026, 21:01 UTC
Read the BTC report15 Sept 2026, 21:01 UTC
Read the ETH report15 Sept 2026, 21:01 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.