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Daily SOL options market report · 24-hour comparison

Solana options: one-month-minus-one-week ATM IV slope inverts

SOL 1M-minus-1W ATM IV slope +1.04 → -2.69 vol points; daily change -3.73 points, crossing from upward-sloping to inverted.

By Sean Gordon — Derivasys Research

Published · Generated · Snapshot

Snapshot · 18 Oct 2026, 16:31 UTC

  • SOLSpot-index 24h -1.30%1W ATM IV 57.10%1W RR25 -4.71 vol pts1W BF25 +4.35 vol pts1W IV − 7D RV -7.88 vol pts
  • SOL1W ATM IV 57.10%1M minus 1W TERMSTRUCTUREDIVERGENCE Δ Unavailable
Full snapshot readings
  • SOLSpot-index 24h -1.30%1W ATM IV 57.10%1W RR25 -4.71 vol pts1W BF25 +4.35 vol pts1W IV − 7D RV -7.88 vol pts

Lead: SOL 1M-minus-1W ATM IV slope crossed from upward-sloping to inverted: +1.04 → -2.69 vol points; daily slope change -3.73 points. Absolute slope-change percentile 86.5% across 37 eligible observations.

Combined market read · daily observation window

The move in context.

SOL spot fell 1.30%; 1W ATM IV rose 3.46 volatility points to 57.10% over the daily window. RR25 moved toward puts (-1.29 points); BF25 wing premium increased (+0.47 points).

One-week surface context; the published headline retains its original evidence basis. Cutoffs 17 Oct, 16:31 UTC to 18 Oct, 16:31 UTC.

Previous publication · research context

2026-10-17: “Solana options see one-week implied volatility rise 1.45 points to 53.64%”

Previous publication cutoff 17 Oct, 16:31 UTC. Today’s market comparison starts at 17 Oct, 16:31 UTC. Snapshot clocks align for the measured comparison below.

Previous publication JSON · SHA-256 73bb6a267f499dfc23e60b67583b9f709a80b2f176b277564bc435d41042906a

Prior watch: measured outcome

Against the 2026-10-17 daily edition.

  • SOL 1W ATM IV: prior change +1.45 → current change +3.46 volatility points; same direction.
  • SOL spot-index return: prior change -1.02 → current change -1.30 percent; same direction.
  • SOL 1W RR25: prior change +1.29 → current change -1.29 volatility points; direction reversed.
  • SOL 1W BF25: prior change -0.33 → current change +0.47 volatility points; direction reversed.
  • SOL 1W ATM IV ≥ 53.64 percent (hold the observed endpoint) at 18 Oct, 16:31 UTC: met (observed 57.10 percent).
  • SOL 1W ATM IV ≤ 52.19 percent (full retrace to the prior endpoint) at 18 Oct, 16:31 UTC: not met (observed 57.10 percent).

Next daily cutoff: measurable checks

  • Hold the observed level: SOL 1W ATM IV ≥ 57.10 percent at . Current level 57.10; threshold is the current observed endpoint.
  • Full retrace: SOL 1W ATM IV ≤ 53.64 percent at . Current level 57.10; 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. Stored editorial receipt independently reconstructed against native endpoints.

Canonical current report JSON · SHA-256 e49056a7a248aefbbb9dbfe32de7f349b6d46508483337c305ea5ea1c514e7e4

Prior artifact: /v1/sol/daily/2026-10-17/73bb6a267f499dfc23e60b67583b9f709a80b2f176b277564bc435d41042906a.json · SHA-256 73bb6a267f499dfc23e60b67583b9f709a80b2f176b277564bc435d41042906a

Consumed endpoint proof: cab1a249610a822a1e7352a3054491d103be0efedc4992879649ca3c133e6f26

  • SOL:atmIv:1W:observed-current-level: rows[asset=SOL].report.tenors[tenor=1W].atmIv.previous; rows[asset=SOL].report.tenors[tenor=1W].atmIv.current; rows[asset=SOL].report.tenors[tenor=1W].atmIv.change; evaluation window 2026-10-18T16:31:00+00:00 to 2026-10-19T16:31:00+00:00.
  • SOL:atmIv:1W:observed-previous-level: rows[asset=SOL].report.tenors[tenor=1W].atmIv.previous; rows[asset=SOL].report.tenors[tenor=1W].atmIv.current; rows[asset=SOL].report.tenors[tenor=1W].atmIv.change; evaluation window 2026-10-18T16:31:00+00:00 to 2026-10-19T16:31:00+00:00.

SOL 1M-minus-1W ATM IV slope
Volatility points · genuine sign crossing

SOL 1M-minus-1W ATM IV slope. Volatility points · genuine sign crossing. Slope: Current -2.69, Previous 1.04.CurrentPreviousSlope-2.691.04-2.99-0.821.34

Current: 18 Oct 2026, 16:31 UTC
Previous: 17 Oct 2026, 16:31 UTC

Solana options: one-month-minus-one-week ATM IV slope inverts. Source: Derivasys options data. SOL 1M-minus-1W ATM IV slope 1.04 → -2.69 vol points; slope change -3.73 points. Genuine sign crossing from upward-sloping to inverted.
Source: Derivasys options data. SOL 1M-minus-1W ATM IV slope 1.04 → -2.69 vol points; slope change -3.73 points. Genuine sign crossing from upward-sloping to inverted. Cite this report.

View full-size chart

Plotted chart data
1M-minus-1W slope and its constituent IV endpoints · 2026-10-17T16:31:00+00:00 to 2026-10-18T16:31:00+00:00
MeasurementUnitPreviousCurrentChange
SOL slopeVol points1.04-2.69-3.73
1W ATM IVPercent; change in points53.6457.103.46
1M ATM IVPercent; change in points54.6854.41-0.27

Solana's one-month-minus-one-week ATM IV slope was inverted at -2.69 volatility points at the October 18 cutoff, compared with a positive slope at the prior daily cutoff. The inversion put 1W ATM implied volatility above 1M ATM implied volatility, as weekly volatility rose while monthly volatility declined.

Chart download and reuse termsDownload 1280 × 720 chart · Reuse terms

02 · Options market read

What the volatility surface did.

3 of 6 headline tenors were comparable at both endpoints. The largest ATM IV move was 1W at +3.46 volatility points, to 57.10%.

Derived directly from structured Derivasys surface data

03 · Catalyst check

17 Oct 2026, 16:31 UTC to 18 Oct 2026, 16:31 UTC

No catalyst assigned.

No qualifying context was found in the monitored news sources for this reporting window.

04 · Detailed analysis

What changed across the SOL volatility surface.

Implied versus realised

At the 16:31 UTC cutoff, 1W ATM IV was 57.10%, 7.88 volatility points below seven-day realised volatility of 64.98%; 24-hour realised volatility was 50.34% and 30-day realised volatility was 57.36%.

Front end

Front-end ATM IV increased, averaging +1.58 volatility points to 55.61% across 1W, 2W and 1M.

Long end

Long-dated ATM IV is unavailable because comparable observations were not present at both snapshots.

Skew

RR25 moved towards puts, averaging -1.10 volatility points to -2.82 volatility points across the three available headline tenors.

Convexity

BF25 increased, averaging +0.45 volatility points to 4.77 volatility points across the three available headline tenors.

Largest standard-tenor move

The largest standard-tenor ATM IV move was +3.46 volatility points at 1W, to 57.10%.

24h spot-index return

SOL spot-index return was -1.30% over 24 hours.

7d spot-index return

SOL spot-index return was -8.83% over seven days.

Two-day RR25 whipsaw

SOL 1W RR25 adjacent daily moves were +1.29 then -1.29 volatility points; gross movement 2.58 versus net +0.00. 0 strict zero crossings. Opposite moves meet the operational whipsaw inspection threshold.

Universe roll: added 20OCT26; removed 18OCT26. Comparisons use common expiries only.

05 · Standard-tenor ranking

Largest surface events

01

Largest eligible smile rotation

23OCT26, -4.74 vol pts
02

Largest standard-tenor ATM IV move

1W, +3.46 vol pts
03

Largest standard-tenor RR25 move

2W, -1.43 vol pts
04

Largest standard-tenor BF25 move

1M, +0.60 vol pts
05

Largest eligible SVI rho move

23OCT26, -0.2361 param
06

Largest eligible SVI sigma move

27NOV26, -0.2049 param

06 · ATM volatility

Standard-tenor ATM implied volatility.

TenorCurrent (vol %)Comparison snapshot (vol %)Change (vol pts)Relative change
1W57.1053.64+3.46 vol pts+6.45%
2W55.3353.77+1.56 vol pts+2.90%
1M54.4154.68-0.27 vol pts-0.49%
3MUnavailableUnavailableUnavailableUnavailable
6MUnavailableUnavailableUnavailableUnavailable
9MUnavailableUnavailableUnavailableUnavailable
1YUnavailableUnavailableUnavailableUnavailable

Source: Derivasys Research — structured data

07 · Risk reversals

RR25 skew moved most at 2W.

RR25 moved towards puts, averaging -1.10 volatility points to -2.82 volatility points across the three available headline tenors. Negative RR25 denotes a richer 25-delta put wing under the call-minus-put convention.

-5.3 vol pts-3.8 vol pts-2.3 vol pts-0.9 vol pts0.6 vol pts1W2W1M
TenorCurrent (vol pts)Comparison snapshot (vol pts)Change (vol pts)
1W-4.71-3.42-1.29 vol pts
2W-3.20-1.77-1.43 vol pts
1M-0.560.02-0.58 vol pts
3MUnavailableUnavailableUnavailable
6MUnavailableUnavailableUnavailable
9MUnavailableUnavailableUnavailable
1YUnavailableUnavailableUnavailable

Source: Derivasys Research — structured data

08 · Butterflies

BF25 convexity changed most at 1M.

BF25 increased, averaging +0.45 volatility points to 4.77 volatility points across the three available headline tenors. BF25 measures the average 25-delta wing premium over ATM IV.

3.7 vol pts4.1 vol pts4.6 vol pts5.0 vol pts5.4 vol pts1W2W1M
TenorCurrent (vol pts)Comparison snapshot (vol pts)Change (vol pts)
1W4.353.88+0.47 vol pts
2W4.724.45+0.27 vol pts
1M5.244.64+0.60 vol pts
3MUnavailableUnavailableUnavailable
6MUnavailableUnavailableUnavailable
9MUnavailableUnavailableUnavailable
1YUnavailableUnavailableUnavailable

Source: Derivasys Research — structured data

09 · Expiry effects

Near-settlement moves, shown with context.

Contracts with fewer than 2 full days to expiry remain in the tables but are excluded from headline rankings. Settlement proximity, time decay, changing liquidity and fewer quotes can exaggerate their changes.

0.6d

Smile rotation

19OCT26, -20.55 vol pts

10 · Volatility term structure

Today against the previous 24-hour snapshot.

Only fixed tenors bracketed by listed expiries at both snapshots are charted. The listed-expiry table preserves the observable exchange maturities underneath those interpolated points.

53.2%54.3%55.4%56.4%57.5%1W2W1M

Suppressed outside the observable listed-expiry range: 3M, 6M, 9M, 1Y.

ExpiryTime leftForward now (USD)Forward change (USD)ATM IV nowATM IV changeRR25 changeBF25 change
19OCT26Expiry effect0.6 days101.82-1.59 USD64.29%+16.91 vol pts-1.57 vol pts-1.19 vol pts
23OCT264.6 days101.9-1.54 USD58.87%+5.21 vol pts-1.22 vol pts+0.52 vol pts
30OCT2611.6 days101.95-1.63 USD55.67%+2.08 vol pts-2.05 vol pts+0.13 vol pts
27NOV2639.6 days102.23-1.64 USD54.21%-0.67 vol pts-0.41 vol pts+0.65 vol pts
25DEC2667.6 days102.29-1.90 USD53.48%-0.36 vol pts-1.00 vol pts-0.20 vol pts

11 · Smile movement

Reconstructed SVI smiles for every common expiry.

Each overlay uses the stored five-parameter SVI fit and the snapshot-specific time to expiry. Ultra-short expiries are displayed but do not determine the headline ranking.

19OCT26rotation towards puts · wing flattening
-0.30k0.00k+0.30k
23OCT26rotation towards puts · wing steepening
-0.30k0.00k+0.30k
30OCT26rotation towards puts
-0.30k0.00k+0.30k
27NOV26rotation towards puts · wing steepening
-0.30k0.00k+0.30k
25DEC26rotation towards puts
-0.30k0.00k+0.30k

Surface movement heatmap

Each cell is the fitted IV change in volatility points. Rows are listed expiries; columns run from the put wing through ATM to the call wing.

Completed-session cross-asset context

Crypto volatility against US equity risk.

SOL 30-day implied volatility was 2.7 times VIX, while its 30-session return correlation with SPX was mixed at 0.55.

Implied-volatility premium

SOL 30-day ATM IV was 54.55%, against VIX at 19.99: a 34.56-point spread and 2.73× ratio.

Daily-close realised-volatility regime

SOL 20-calendar-day realised volatility was 42.18%, versus SPX 20-session realised volatility of 10.45%. The spread ranked at percentile rank 18.7% of 251 prior observations.

This separate RV estimate uses 20 daily close-to-close log returns, sampled at 16:00 New York time, ending at the completed-session timestamp shown below. It requires a valid close for each day, rather than every intervening minute. Crypto RV is annualised with √365; SPX uses 20 trading-session returns and √252. It does not replace the intraday IV–RV comparison.

Equity co-movement

Return correlation with SPX was 0.550 over 30 aligned sessions and 0.390 over 60 sessions. VIX9D, VIX and VIX3M closed at 20.12, 19.99 and 20.50.

Mixed-horizon comparison: crypto RV uses 20 calendar-day close-to-close log returns and √365 annualisation; SPX RV uses 20 US trading-session close-to-close log returns and √252. The spread and its historical rank describe this mixed recipe, not a matched-horizon relative-value signal.

As of 16 Oct 2026, 20:00 UTC. Implied volatility and completed-session realised volatility use their respective observation windows shown above.

Evidence and methodology

market-context-v1. Crypto snapshot and benchmark timestamps: 2026-10-16T20:00:00Z; ingestion: 2026-10-16T22:30:50.861284Z. Quality valid; freshness fresh, age 160260 seconds evaluated at 2026-10-18T16:31:00Z; alignment tolerance 600 seconds. IV is a 30-calendar-day fixed tenor nearest the US close, ACT/365 convention. Volatility levels and spreads use volatility_points; ratios use ratio; correlations use correlation_coefficient; percentiles use percentile_rank. Crypto RV uses 20 calendar-day close-to-close log returns and sqrt(365); SPX RV uses 20 US trading-session close-to-close log returns and sqrt(252). Correlations use 30/60 aligned US-session daily returns. Sources: Derivasys surface/canonical crypto index and Yahoo Finance ^VIX, ^VIX9D, ^VIX3M, ^GSPC. Other returned cross-asset readings: ivSpreadChange1d=-5.9600006866455075 volatility_points; ivRatioChange1d=-0.7328611239814475 ratio_change; rvSpreadChange1d=-0.33231940606994215 volatility_points; rvRatioChange1d=-0.30054644270486186 ratio_change; ivSpreadPercentile=null and ivRatioPercentile=null, each sampleCount=33; returnCorrelation30Percentile=74.55357142857143, sampleCount=224; returnCorrelation60Percentile=21.341463414634145, sampleCount=164. Level/change metric sampleCount values are null.

RV observation windows and sampling

The 24-hour, seven-day and 30-day RV windows are assessed independently using observed one-minute index returns, annualised on a 365-day basis. Recorded minimums: at least 99.5% coverage over 24 hours, 99.5% coverage over seven days, 99.5% coverage over 30 days, with no gap longer than 60 minutes. Returns spanning gaps are excluded, not interpolated; unavailable windows remain unreported. The exact 24-hour spot return requires prices at both endpoints.

Evidence, source data and methodology
Report comparison baseline → current snapshot
2026-10-17 16:31:00 UTC → 2026-10-18 16:31:00 UTC

Changes use these stored market-snapshot baselines. The comparison baseline may differ from the snapshot used in the previous published edition.

Lead signal · 17 Oct 2026, 16:31 UTC → 18 Oct 2026, 16:31 UTC

The measurement behind the lead chart

SOL 1W ATM IV 53.64% → 57.10% · Δ +3.46 vol pts

SOL 1M ATM IV 54.68% → 54.41% · Δ -0.27 vol pts

Absolute slope-change percentile 86.5% across 37 eligible observations.

Original report summary

Solana's one-month-minus-one-week ATM IV slope fell 3.73 volatility points from +1.04 to -2.69 volatility points over the daily observation window. The inversion reflects opposing tenor moves: 1W ATM implied volatility rose 3.46 points to 57.10%, while 1M ATM implied volatility fell 0.27 points to 54.41%.

At report cutoff · Levels and stored endpoint changes

What matters now

Vol: SOL 1W ATM IV 57.10% · Δ +3.46 vol pts

Skew: SOL 1W RR25 -4.71 vol pts · Δ -1.29 vol pts

Relative value: SOL 1W IV 57.10% / 7D RV 64.98% · spread -7.88 vol pts

Vol

SOL 1W ATM IV 57.10% · Δ +3.46 vol ptspercentile rank 75.7% by absolute move · full history (n=37); 1-day moves sampled daily UTC; 2026-09-02 to 2026-10-17

Skew

SOL 1W RR25 -4.71 vol pts · Δ -1.29 vol ptspercentile rank 54.5% by absolute move · 30-day window (n=22); 1-day moves sampled daily UTC; 2026-09-17 to 2026-10-17

Wings

SOL 1W BF25 4.35 vol pts · Δ +0.47 vol ptspercentile rank 59.5% by absolute move · full history (n=37); 1-day moves sampled daily UTC; 2026-09-02 to 2026-10-17

IV versus RV

SOL 1W IV 57.10% / 7D RV 64.98% · spread -7.88 vol pts

Δ compares the report’s stored surface endpoints. IV versus RV is a level comparison, not a daily change.

Historical move evidence

SOL 1W ATM IV: percentile rank 75.7% by absolute move · full history (n=37); 1-day moves sampled daily UTC; 2026-09-02 to 2026-10-17

SOL 1W RR25: percentile rank 54.5% by absolute move · 30-day window (n=22); 1-day moves sampled daily UTC; 2026-09-17 to 2026-10-17

SOL 1W BF25: percentile rank 59.5% by absolute move · full history (n=37); 1-day moves sampled daily UTC; 2026-09-02 to 2026-10-17

Technical appendix: measurement and history provenance

Download the full canonical report and evidence receipts (JSON). Artifact SHA-256: e49056a7a248aefbbb9dbfe32de7f349b6d46508483337c305ea5ea1c514e7e4.

Daily options-surface context: active. Quiet describes only daily options-surface movements under the stored operational policy; it makes no weekly stabilization claim.

Percentile sample windows, horizons and receipts

Samples use daily UTC observations. Weekly moves can be rolling and overlapping; observation counts do not imply independent periods. Missing legacy bounds and source revisions remain unavailable.

Frozen percentile denominators
Asset / tenor / metricCohortCount / horizonActual boundsOverlap / provenance
SOL 1W atmIvmove30d22 samples; 1 days; daily UTC observations2026-09-17 → 2026-10-17
2026-09-17T16:31:00+00:00 → 2026-10-17T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:ddfb644453f0989e724ee3ef3490b67a7f608c724d94a6244cc937f7065dce0c
SOL 1W atmIvmoveFullHistory37 samples; 1 days; daily UTC observations2026-09-02 → 2026-10-17
2026-09-02T16:31:00+00:00 → 2026-10-17T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:9177d1995f4834a40fbe0ecbc12a8094343fc4329bd4e2166a3d8083f9f297ba
SOL 1W atmIvlevelFullHistory44 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-17
2026-08-29T16:31:00+00:00 → 2026-10-17T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:4725daa38f680986f42bd696d78e2abb2fb8d625a17fcd77cbb7b8ee7f04eb55
SOL 1W bf25move30d22 samples; 1 days; daily UTC observations2026-09-17 → 2026-10-17
2026-09-17T16:31:00+00:00 → 2026-10-17T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:ab74252b22a1fa3540de3c56e4cb276018183c6125dcc3059a28e88168b3667d
SOL 1W bf25moveFullHistory37 samples; 1 days; daily UTC observations2026-09-02 → 2026-10-17
2026-09-02T16:31:00+00:00 → 2026-10-17T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:16020796ad7dfae79c342a99df83f8b3e9658f9dc9737ac23668d39887e12f72
SOL 1W bf25levelFullHistory44 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-17
2026-08-29T16:31:00+00:00 → 2026-10-17T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:f3b9ac10f5c615d8ef66e404bd2fa37ffebe2950df730d3a6c91b07979276939
SOL 1W rr25move30d22 samples; 1 days; daily UTC observations2026-09-17 → 2026-10-17
2026-09-17T16:31:00+00:00 → 2026-10-17T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:7a53ad926adeb10b9086d929898b7f22dd36d8f81ce832846b4f91b6625dde5e
SOL 1W rr25moveFullHistory37 samples; 1 days; daily UTC observations2026-09-02 → 2026-10-17
2026-09-02T16:31:00+00:00 → 2026-10-17T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:ae7aeffd4034ad3510cecb339b59f5485585ab841d0bfe3a0abfacc7266b1269
SOL 1W rr25levelFullHistory44 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-17
2026-08-29T16:31:00+00:00 → 2026-10-17T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:ff5ae47c8f8ef70af4f4e2626ecb3e06783d585f812679558c435fc8f29e529e
SOL 2W atmIvmove30d22 samples; 1 days; daily UTC observations2026-09-17 → 2026-10-17
2026-09-17T16:31:00+00:00 → 2026-10-17T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:85b6c7097a07f1660dff8a63d740a105c4c98683b9e824b6111f139dee77cfe0
SOL 2W atmIvmoveFullHistory37 samples; 1 days; daily UTC observations2026-09-02 → 2026-10-17
2026-09-02T16:31:00+00:00 → 2026-10-17T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:95c787cd36b332875e40f3320be69a942995d746db9ba1fcc90134946cb38d36
SOL 2W atmIvlevelFullHistory44 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-17
2026-08-29T16:31:00+00:00 → 2026-10-17T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:6a68fceafaea00b581cbbfcfd9df84f6116a0a0215e526e6e7d7df16c9c0a192
SOL 2W bf25move30d22 samples; 1 days; daily UTC observations2026-09-17 → 2026-10-17
2026-09-17T16:31:00+00:00 → 2026-10-17T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:edfcb31b438f3889415ac2b0a2084738a651f07be15c799a5f691653653b35ac
SOL 2W bf25moveFullHistory37 samples; 1 days; daily UTC observations2026-09-02 → 2026-10-17
2026-09-02T16:31:00+00:00 → 2026-10-17T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:2ced55e62856a21d8b1673f4d544d574879fe0f8bd9455a43cb20fcfdca3dd7a
SOL 2W bf25levelFullHistory44 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-17
2026-08-29T16:31:00+00:00 → 2026-10-17T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:26acb071c4a1a3d8ace422e1f0f198e50952b66d916e914634c9bad5292d868a
SOL 2W rr25move30d22 samples; 1 days; daily UTC observations2026-09-17 → 2026-10-17
2026-09-17T16:31:00+00:00 → 2026-10-17T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:5606778226232af0826a713e34a9544d16f415b448c0729bac359833a3706380
SOL 2W rr25moveFullHistory37 samples; 1 days; daily UTC observations2026-09-02 → 2026-10-17
2026-09-02T16:31:00+00:00 → 2026-10-17T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:29449fb243dc910231b8f2631f2c4f8681cc6b3d02db0e4d5ed77447f0c6c99c
SOL 2W rr25levelFullHistory44 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-17
2026-08-29T16:31:00+00:00 → 2026-10-17T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:046d8730099e12b1d46c4191549abee16f9232e600c2cddc9c73c3e1d6581b13
SOL 1M atmIvmove30d22 samples; 1 days; daily UTC observations2026-09-17 → 2026-10-17
2026-09-17T16:31:00+00:00 → 2026-10-17T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:8f75c766066a0a10e7af350cd3006a220429da2aecfc2a777db01bf5033316d9
SOL 1M atmIvmoveFullHistory37 samples; 1 days; daily UTC observations2026-09-02 → 2026-10-17
2026-09-02T16:31:00+00:00 → 2026-10-17T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:895b78d2ca6d6b256986a7b995f80a4b82fa34c494d7f2dae2037c6d0e7c2840
SOL 1M atmIvlevelFullHistory44 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-17
2026-08-29T16:31:00+00:00 → 2026-10-17T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:bc95edc46872f79a1eb5d579491274523e58dc896b213aafe886a1df594f525d
SOL 1M bf25move30d22 samples; 1 days; daily UTC observations2026-09-17 → 2026-10-17
2026-09-17T16:31:00+00:00 → 2026-10-17T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:d81f257f392f9b3b5d3e6398b82154e1152d30fd6f061004a5d893ee589db502
SOL 1M bf25moveFullHistory37 samples; 1 days; daily UTC observations2026-09-02 → 2026-10-17
2026-09-02T16:31:00+00:00 → 2026-10-17T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:82097e42f2507de483f05e63eef9d5619cbcc84e52009377a3003813f4d274cc
SOL 1M bf25levelFullHistory44 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-17
2026-08-29T16:31:00+00:00 → 2026-10-17T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:0338e775ae85d857200d2af4abe551fde3d8fc5d72726cc6d09679b5097c83dc
SOL 1M rr25move30d22 samples; 1 days; daily UTC observations2026-09-17 → 2026-10-17
2026-09-17T16:31:00+00:00 → 2026-10-17T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:0165f7817fd1364fb889d26542d4f019090bfb3bdaea9549336b28494dbd44a9
SOL 1M rr25moveFullHistory37 samples; 1 days; daily UTC observations2026-09-02 → 2026-10-17
2026-09-02T16:31:00+00:00 → 2026-10-17T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:758d3c67e7f71909f621afc2ec0a63cca6d6c315b7d59cf45a82a5d419251632
SOL 1M rr25levelFullHistory44 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-17
2026-08-29T16:31:00+00:00 → 2026-10-17T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:95346f9904e374b01382ac2e20cf2679c03d5da39f4459d901e9f73821d656a6
SOL 3M atmIvmove30d5 samples; 1 days; daily UTC observations2026-09-17 → 2026-09-24
2026-09-17T16:31:00+00:00 → 2026-09-24T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:1b14c827b959a0dbcf7d7b0ef5c45909f27c04cac6073861a83c4eb1082f40e8
SOL 3M atmIvmoveFullHistory20 samples; 1 days; daily UTC observations2026-09-02 → 2026-09-24
2026-09-02T16:31:00+00:00 → 2026-09-24T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:c6923fa6d799e72cb6d788a5e302095bc5fecf92d1b62abd6bac153ba2218d19
SOL 3M atmIvlevelFullHistory24 samples; 0 days; daily UTC observations2026-08-29 → 2026-09-24
2026-08-29T16:31:00+00:00 → 2026-09-24T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:b73b08d17a8c99c0db83f96fff3fb5814623e36ebdc59c7582ead8cf3f9b0f12
SOL 3M bf25move30d5 samples; 1 days; daily UTC observations2026-09-17 → 2026-09-24
2026-09-17T16:31:00+00:00 → 2026-09-24T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:85be74cf52860a70fd6d124a64870e735ae58a041a2a5a445e4cf7eeca50cc06
SOL 3M bf25moveFullHistory20 samples; 1 days; daily UTC observations2026-09-02 → 2026-09-24
2026-09-02T16:31:00+00:00 → 2026-09-24T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:766db46f15514776c82e68095c81f494632afedcf09d175502fc893aa7ff5f67
SOL 3M bf25levelFullHistory24 samples; 0 days; daily UTC observations2026-08-29 → 2026-09-24
2026-08-29T16:31:00+00:00 → 2026-09-24T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:a58f5d7936b1a7fb58c4c250c1ec110e7dc9e3503552999b375c71e78fa569a2
SOL 3M rr25move30d5 samples; 1 days; daily UTC observations2026-09-17 → 2026-09-24
2026-09-17T16:31:00+00:00 → 2026-09-24T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:662a318ff50e05bd87cbc0c3c27bafdff1db7039dd8bf4be382d16d5913f0a9a
SOL 3M rr25moveFullHistory20 samples; 1 days; daily UTC observations2026-09-02 → 2026-09-24
2026-09-02T16:31:00+00:00 → 2026-09-24T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:b4e0333e6119be464de81a48e0ec819b79dee9d671a1928d151a0cb5e399f7da
SOL 3M rr25levelFullHistory24 samples; 0 days; daily UTC observations2026-08-29 → 2026-09-24
2026-08-29T16:31:00+00:00 → 2026-09-24T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:5a85db8358ac373ec47f8363ec6540371b860d60d8a3d49d9fa9899619e61a49
SOL 6M atmIvmove30d0 samples; 1 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
SOL 6M atmIvmoveFullHistory0 samples; 1 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
SOL 6M atmIvlevelFullHistory0 samples; 0 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
SOL 6M bf25move30d0 samples; 1 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
SOL 6M bf25moveFullHistory0 samples; 1 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
SOL 6M bf25levelFullHistory0 samples; 0 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
SOL 6M rr25move30d0 samples; 1 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
SOL 6M rr25moveFullHistory0 samples; 1 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
SOL 6M rr25levelFullHistory0 samples; 0 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
SOL 9M atmIvmove30d0 samples; 1 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
SOL 9M atmIvmoveFullHistory0 samples; 1 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
SOL 9M atmIvlevelFullHistory0 samples; 0 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
SOL 9M bf25move30d0 samples; 1 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
SOL 9M bf25moveFullHistory0 samples; 1 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
SOL 9M bf25levelFullHistory0 samples; 0 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
SOL 9M rr25move30d0 samples; 1 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
SOL 9M rr25moveFullHistory0 samples; 1 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
SOL 9M rr25levelFullHistory0 samples; 0 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
SOL 1Y atmIvmove30d0 samples; 1 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
SOL 1Y atmIvmoveFullHistory0 samples; 1 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
SOL 1Y atmIvlevelFullHistory0 samples; 0 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
SOL 1Y bf25move30d0 samples; 1 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
SOL 1Y bf25moveFullHistory0 samples; 1 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
SOL 1Y bf25levelFullHistory0 samples; 0 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
SOL 1Y rr25move30d0 samples; 1 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
SOL 1Y rr25moveFullHistory0 samples; 1 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945
SOL 1Y rr25levelFullHistory0 samples; 0 days; daily UTC observationsUnavailable → Unavailable
Exact start unavailable → Exact end unavailable		No period overlap in this cohort; source revision unknown; sha256:4f53cda18c2baa0c0354bb5f9a3ecbe5ed12ab4d8e11ba873c2f11161202b945

12 · Technical appendix

Model parameters and normalized Greeks.

These diagnostics preserve the fitted-surface audit trail without competing with the main market story.

Show SVI parameter changes and normalized Greeks

SVI diagnostics

Daily movement in a, b, rho, m and sigma.

Among ranking-eligible expiries, the largest absolute rho change occurred at 23OCT26; the largest sigma change occurred at 27NOV26.

ExpiryΔ aΔ bΔ rhoΔ mΔ sigmaSmile classification
19OCT26-0.00820-0.02390-0.11850-0.09220+0.24440rotation towards puts, wing flattening
23OCT26+0.01770-0.02420-0.23610-0.09670-0.06990rotation towards puts, wing steepening
30OCT26+0.02440-0.02500+0.12690+0.06210-0.09410rotation towards puts
27NOV26+0.06240-0.05300+0.02860+0.03490-0.20490rotation towards puts, wing steepening
25DEC26-0.00310-0.00410+0.05150+0.04010+0.01570rotation towards puts

Current surface characteristics

Where normalized model Greek intensity is highest.

These are comparable Black-forward Greeks for a one-SOL ATM-forward call at each listed expiry—not portfolio exposure, open interest or a prediction of dealer positioning.

Highest Gamma19OCT26, 0.144948 1 / USD
Highest Theta Decay19OCT26, -0.850827 USD / day
Highest Vanna25DEC26, 0.000853 delta / vol pt
Highest Vega25DEC26, 0.174517 USD / vol pt
Highest Volga25DEC26, -0.000043 USD / vol pt²

7D realised volatility · data quality

AssetRecorded RVStatusCoverage / requiredLongest gap / maximum
SOL64.98%Available100% / 99.5% required0 min / 60 min 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

SOL · Available · Surface cutoff 18 Oct 2026, 16:31:00 UTC · 7D coverage 100% / 99.5% required · largest 7D gap 0 min / 60 min maximum · maximum gap 60 min.

24h: complete; 1440/1440 observed returns; 100% coverage; 99.5% minimum; 0 min largest gap.

30d: complete; 43200/43200 observed returns; 100% coverage; 99.5% minimum; 0 min largest gap.

7d: complete; 10080/10080 observed returns; 100% coverage; 99.5% minimum; 0 min largest gap.

Source data JSON

13 · Methodology and provenance

Generated from measured Derivasys surface data.

Current snapshot
18 Oct 2026, 16:31 UTC
Comparison snapshot
17 Oct 2026, 16:31 UTC
Source
Derivasys proprietary historical SVI surface and canonical SOL index databases
Realised volatility
Annualised root-mean-square of one-minute canonical SOL-USD index log returns using a 365-day basis; all windows end at the current snapshot.
Comparison window
Nearest successful surface snapshots approximately 24 hours apart
RR convention
25-delta call IV minus 25-delta put IV
BF convention
Average 25-delta wing IV minus ATM forward IV
Fixed tenors
Fixed-tenor measures are published only when listed expiries bracket the target at both comparison snapshots. Targets outside either observable range are suppressed, not extrapolated; headline rankings use only supported tenors.
Smile reconstruction
Listed-expiry smiles are reconstructed from stored SVI total-variance parameters on a fixed log-moneyness grid.
Ultra-short expiries
Expiries with fewer than 2 full days remaining stay in detailed tables but are excluded from headline rankings. Settlement proximity, time decay, changing liquidity and fewer quotes can exaggerate their changes.
Greek normalization
Black forward Greeks for a normalized one-SOL ATM-forward call, zero rate, fitted SVI IV
Catalyst policy
Only sufficiently relevant, reliably sourced events are shown; otherwise no catalyst is assigned.

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