Daily cross-asset options reports comparing BTC, ETH and SOL implied volatility, skew, convexity and realised volatility from the same Derivasys snapshots.
At the September 30 cutoff, Derivasys data show Ether one-week ATM IV stood 1.22 volatility points above seven-day realised volatility, while Bitcoin's equivalent spread stood at -2.73 points and Solana's at -4.49 points. The Ether–Solana one-week implied-versus-realised range was 5.71 volatility points. This separates the majors on a common volatility comparison despite falling one-week ATM IV across all three; the spread readings are levels, without measured daily changes.
Ether one-week ATM IV fell 2.52 volatility points, compared with a 0.46-point decline in Solana one-week ATM IV, according to Derivasys data for the 24-hour window ending September 29. The difference between their daily changes was 2.06 volatility points. Bitcoin one-week ATM IV fell 1.32 points, placing its adjustment between those extremes. All three majors eased at this tenor, but Ether underwent the sharper repricing of volatility implied by options near the underlying price.
Derivasys data show Ether one-week at-the-money IV stood 1.48 volatility points above Ether seven-day realised volatility, while Solana one-week at-the-money IV stood 3.35 points below Solana seven-day realised volatility. The 4.83-point range between those implied-versus-realised readings was at the 79.2 percentile of available aligned history. This is a comparison of levels at the cutoff, not a measured daily widening. Bitcoin lay between the two, leaving the major-coin relative-value picture more differentiated than their common rise in one-week implied volatility suggests.
Derivasys data show one-week ATM implied volatility below seven-day realised volatility in Bitcoin, Ether and Solana at the cutoff. Solana had the largest shortfall, while Ether had the smallest, leaving a 3.32-volatility-point range in the implied-minus-realised comparison. This is a comparison of levels across the three assets, not a measured daily widening of that range. At-the-money implied volatility reflects options near each coin’s current price; realised volatility measures observed returns.
The one-week implied-volatility premium carried by Solana over Bitcoin narrowed between 25 September, 18:31 UTC and 26 September, 18:31 UTC. Derivasys data put the SOL–BTC one-week ATM IV gap at 23.19 volatility points, down 2.47 points from the prior cutoff, while Solana still had the highest one-week ATM IV among the three major coins. Ether led the daily increase in that metric and Solana declined, bringing their levels closer together. The cross-asset story is convergence in volatility pricing; separate skew readings show another narrowing gap.
Major-coin one-week RR25 dispersion narrowed 0.71 volatility points to 7.64 volatility points between SOL and ETH, yet remained elevated at the 96.3 percentile of the available history. SOL one-week RR25 was 6.39%, call-rich, while ETH one-week RR25 was -1.25%, put-rich. Ether’s 6.11-volatility-point decline in one-week ATM IV made it the clear volatility-reset outlier.
Major-coin one-week skew separated sharply at the cutoff: SOL one-week RR25 stood at 5.86%, while BTC one-week RR25 was -2.60%, creating an 8.46-volatility-point spread that widened 4.46 volatility points. The contrast indicates markedly richer SOL call-side volatility and richer BTC put-side volatility, rather than a uniform directional signal across major-coin options.
Major-coin one-week RR25 dispersion widened by 0.78 volatility points to 5.44 points between Solana and Bitcoin. Solana one-week RR25 stood at 3.55%, leaving call-side volatility richer than put-side volatility, while Bitcoin one-week RR25 stood at -1.89%, leaving put-side volatility richer. One-week ATM IV levels remained highest for Solana at 56.08% and lowest for Bitcoin at 34.13%, although the Solana-Bitcoin one-week ATM IV level spread narrowed 1.87 points to 21.95 points.
The major-coin one-week ATM IV gap between Solana and Bitcoin widened 4.09 volatility points to 27.32 volatility points over the observation window, reaching the 87.5 percentile of the available historical comparison set. ATM IV is the implied volatility of at-the-money options, a measure of the volatility priced into contracts near the prevailing price.
Derivasys data show Solana as the high end and Bitcoin as the low end of this one-week ATM IV comparison. One-week implied-versus-realised volatility data were unavailable for Bitcoin, Ether and Solana, and no qualifying news context was retained.
Major-coin one-week ATM IV dispersion widened by 1.09 volatility points to 24.35 points, with Solana at 63.31% and Bitcoin at 38.96% at the cutoff. Derivasys data show Solana also posted the largest one-week ATM IV increase, 5.85 volatility points, while Ether’s 2.65-point increase was smallest. The one-week RR25 gap widened as Solana became more call-rich relative to Bitcoin.
Major-coin one-week ATM IV dispersion widened 2.30 volatility points to 21.40 points at the cutoff, with Solana one-week ATM IV at 55.38% and Bitcoin one-week ATM IV at 33.98%. Solana also posted the largest one-week ATM IV change, rising 2.00 points, while Bitcoin and Ether one-week ATM IV each edged lower. The widening relative-volatility gap ranked at the 81.8 percentile of the available history.
Solana one-week ATM IV stood at 53.62%, 18.99 volatility points above Bitcoin one-week ATM IV at 34.63%; the level spread widened 0.21 points. All three major-coin one-week ATM IV measures rose on the day, led by Solana’s 2.72-point increase versus Ether’s 2.11-point increase. The common repricing therefore left the relative-volatility hierarchy intact rather than closing the gap.
One-week ATM IV dispersion between Solana and Bitcoin narrowed 1.67 volatility points to 18.64 points at the cutoff. Solana’s one-week ATM IV was 50.69%, versus Bitcoin’s 32.05%, while Ether’s one-week ATM IV was 46.19%. The compression coincided with Bitcoin’s one-week ATM IV rising 2.46 volatility points, compared with a 0.79-point rise in Solana’s one-week ATM IV.
Major-coin one-week ATM IV fell across Bitcoin, Ether and Solana, but the reset was uneven. Ether one-week ATM IV fell 8.62 volatility points to 44.54%, Bitcoin one-week ATM IV fell 7.15 volatility points to 29.56%, and Solana one-week ATM IV fell 4.27 volatility points to 50.11%. That left Solana’s one-week ATM IV 20.55 volatility points above Bitcoin’s, widening the level spread by 2.88 volatility points.
Major-coin one-week ATM IV fell across Bitcoin, Ether and Solana at the 16:30 UTC cutoff. Bitcoin one-week ATM IV fell 6.73 volatility points to 36.61%, Ether one-week ATM IV fell 6.05 volatility points to 53.07%, and Solana one-week ATM IV fell 2.14 volatility points to 54.33%. The common decline nevertheless widened relative volatility levels between Solana and Bitcoin to 17.72 volatility points.
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.
One-week ATM IV dispersion across Bitcoin, Ether and Solana widened 4.70 volatility points to 20.52 points. Solana’s one-week at-the-money implied volatility stood at 57.12% after rising 3.20 volatility points, while Bitcoin’s one-week at-the-money implied volatility fell 1.50 volatility points to 36.60%; Ether’s one-week at-the-money implied volatility was 53.06%. The result is a sharper relative-volatility split across major-coin options.
At the 16:30 UTC cutoff, Solana's one-week at-the-money implied-volatility reading was 53.92%, up 4.05 volatility points—the largest increase across the major-coin options markets. At-the-money implied volatility is the market's estimate of expected price movement centred on the prevailing price.
Ether's one-week at-the-money implied-volatility reading reached 52.42%, an increase of 3.94 volatility points, while Bitcoin's one-week at-the-money implied-volatility reading reached 38.10%, an increase of 3.33 volatility points. The Solana–Bitcoin one-week at-the-money implied-volatility change range was 0.72 volatility points. The Solana–Bitcoin one-week at-the-money implied-volatility level gap was 15.82 volatility points after widening by 0.72 volatility points.
Solana's one-week 25-delta risk reversal, which compares call and put implied volatility, fell 2.59 volatility points toward puts to 1.89%, while remaining call-rich. The Solana–Ether one-week 25-delta risk-reversal level gap narrowed by 2.28 volatility points to 3.37 volatility points. Derivasys data underpin these options-market observations.
Major-coin one-week ATM IV fell across Bitcoin, Ether and Solana, but the adjustment was uneven: Ether fell 3.12 volatility points, Bitcoin declined 1.58 points and Solana eased 0.45 points. That left a 2.67-point cross-asset dispersion in daily one-week ATM IV changes at the cutoff.
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%.
Across the 24 hours ending 16:30 UTC on 10 September 2026, Ether’s one-week at-the-money implied volatility fell 2.31 volatility points to 50.00%, the largest move among the three markets. At-the-money implied volatility is an options-based measure of expected variability. Bitcoin’s one-week ATM IV fell 1.48 volatility points to 38.99%, while Solana’s one-week ATM IV fell 1.70 volatility points to 52.96%, according to Derivasys data.
The range between Solana’s one-week ATM IV and Bitcoin’s one-week ATM IV narrowed 0.22 volatility points to 13.97 volatility points. Bitcoin’s 24-hour spot-index return was -2.30%, Ether’s 24-hour spot-index return was -2.23%, and Solana’s 24-hour spot-index return was unavailable.
One-week ATM IV dispersion across Bitcoin, Ether and Solana narrowed 1.59 volatility points to 14.19 points, with Solana at 54.66% and Bitcoin at 40.47%. The convergence in levels obscured a divergent daily repricing: Ether’s one-week ATM IV rose 2.12 points while Solana’s fell 0.69 points. DerivaSys data therefore show less separation in prevailing volatility levels but a clear leader in the day’s volatility adjustment.
Ether led Bitcoin by 1.02 percentage points in 24-hour spot performance over the observation window: Ether spot gained 0.78%, while Bitcoin spot declined 0.24%. Derivasys data show that the gap coincided with narrower one-week options-market dispersion across the major coins.
Solana’s one-week ATM implied volatility was 55.35%, versus Bitcoin’s one-week ATM implied volatility of 39.57%, leaving the one-week ATM implied-volatility gap 0.41 volatility points narrower at 15.78 volatility points. Ether’s one-week RR25 level was 1.66%, while Solana’s one-week RR25 level was 1.28%, narrowing the one-week RR25 gap by 0.66 volatility points to 0.38 volatility points. Implied volatility is the market’s expectation of future price variability: Ether’s one-week ATM implied volatility exceeded Ether’s seven-day realised volatility by 6.27 volatility points, while Bitcoin’s corresponding one-week implied-versus-seven-day-realised spread was 6.10 volatility points. Solana realised-volatility comparisons were unavailable.
Ether led the split in major-coin options, with a 2.54-volatility-point dispersion in one-week ATM IV changes between Ether and Solana. Solana’s one-week ATM IV stood 16.86 volatility points above Bitcoin’s.
Ether led the major coins’ one-week ATM IV increase, rising 4.63 volatility points against Bitcoin’s 2.36-point gain and Solana’s 3.08-point rise. Yet Solana remained the highest-volatility major at 54.69%, compared with Bitcoin at 36.83%. The relative move widened repricing dispersion without changing the established level ranking.
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.
One-week ATM IV dispersion across BTC, ETH and SOL widened by 2.54 volatility points to 16.95 points. SOL held the highest one-week implied volatility at 48.96%, BTC the lowest at 32.01%, and ETH’s 5.20-point decline was the largest absolute daily move.
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.
Major-coin options saw a pronounced short-dated divergence: SOL one-week ATM IV fell 7.61 volatility points, versus a 1.17-point fall for ETH, creating a 6.44-point dispersion. SOL nonetheless retained the highest one-week ATM IV at 53.34%, 22.31 volatility points above BTC’s 31.03%. Ether carried the richest relative put-side volatility, with 1W RR25 at -2.00%.
SOL’s 1W ATM IV fell 10.73 volatility points, compared with a 0.78-point decline in ETH 1W ATM IV and a 0.81-point decline in BTC 1W ATM IV. That left 9.95 volatility points of 1W ATM IV change dispersion. The front-end convergence came with distinct skew and curve profiles.
