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Daily SOL options market report · 24-hour comparison

Solana options show higher 1w RR25 skew

SOL 1W RR25 rose 4.50 vol points to -0.21 vol points over the daily comparison.

By Sean Gordon — Derivasys Research

Published · Generated · Snapshot

Snapshot · 19 Oct 2026, 16:31 UTC

  • SOLSpot-index 24h +2.58%1W ATM IV 58.27%1W RR25 -0.21 vol pts1W BF25 +3.89 vol pts1W IV − 7D RV -7.50 vol pts
  • SOL1W ATM IV 58.27%1W RR25 Δ +4.50 vol pts
Full snapshot readings
  • SOLSpot-index 24h +2.58%1W ATM IV 58.27%1W RR25 -0.21 vol pts1W BF25 +3.89 vol pts1W IV − 7D RV -7.50 vol pts

Notable move: SOL 1W RR25 Δ +4.50 vol pts → -0.21 vol pts · percentile rank 95.5% by absolute move · 1-day moves · 30-day window (n=22).

Combined market read · daily observation window

The move in context.

SOL spot rose 2.58%; 1W ATM IV rose 1.17 volatility points to 58.27% over the daily window. RR25 moved toward calls (+4.50 points); BF25 wing premium decreased (-0.46 points).

Uses the stored headline’s selected tenor. Cutoffs 18 Oct, 16:31 UTC to 19 Oct, 16:31 UTC.

Previous publication · research context

2026-10-18: “Solana options: one-month-minus-one-week ATM IV slope inverts”

Previous publication cutoff 18 Oct, 16:31 UTC. Today’s market comparison starts at 18 Oct, 16:31 UTC. Snapshot clocks align for the measured comparison below.

Previous publication JSON · SHA-256 e49056a7a248aefbbb9dbfe32de7f349b6d46508483337c305ea5ea1c514e7e4

Prior watch: measured outcome

Against the 2026-10-18 daily edition.

  • SOL 1W ATM IV: prior change +3.46 → current change +1.17 volatility points; same direction.
  • SOL spot-index return: prior change -1.30 → current change +2.58 percent; direction reversed.
  • SOL 1W RR25: prior change -1.29 → current change +4.50 volatility points; direction reversed.
  • SOL 1W BF25: prior change +0.47 → current change -0.46 volatility points; direction reversed.
  • SOL 1W ATM IV ≥ 57.10 percent (hold the observed endpoint) at 19 Oct, 16:31 UTC: met (observed 58.27 percent).
  • SOL 1W ATM IV ≤ 53.64 percent (full retrace to the prior endpoint) at 19 Oct, 16:31 UTC: not met (observed 58.27 percent).

Next daily cutoff: measurable checks

  • Hold the observed level: SOL 1W RR25 ≥ -0.21 volatility points at . Current level -0.21; threshold is the current observed endpoint.
  • Full retrace: SOL 1W RR25 ≤ -4.71 volatility points at . Current level -0.21; 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 61706d190f198d2edddfd9f0af85702c2f85d2f3e929691909129dc9a893267c

Prior artifact: /v1/sol/daily/2026-10-18/e49056a7a248aefbbb9dbfe32de7f349b6d46508483337c305ea5ea1c514e7e4.json · SHA-256 e49056a7a248aefbbb9dbfe32de7f349b6d46508483337c305ea5ea1c514e7e4

Consumed endpoint proof: ecf25cdd34ed43927a70b4a301a031c5d2997d08ed1190eaa9381b0b792a8eb1

  • SOL:rr25:1W:observed-current-level: rows[asset=SOL].report.tenors[tenor=1W].rr25.previous; rows[asset=SOL].report.tenors[tenor=1W].rr25.current; rows[asset=SOL].report.tenors[tenor=1W].rr25.change; evaluation window 2026-10-19T16:31:00+00:00 to 2026-10-20T16:31:00+00:00.
  • SOL:rr25:1W:observed-previous-level: rows[asset=SOL].report.tenors[tenor=1W].rr25.previous; rows[asset=SOL].report.tenors[tenor=1W].rr25.current; rows[asset=SOL].report.tenors[tenor=1W].rr25.change; evaluation window 2026-10-19T16:31:00+00:00 to 2026-10-20T16:31:00+00:00.

1W RR25 – selected tenor
Vol points

1W RR25 – selected tenor. Vol points. SOL: Current -0.21, Previous -4.71.CurrentPreviousSOL-0.21-4.71-5.09-2.540.00

Current: 19 Oct 2026, 16:31 UTC
Previous: 18 Oct 2026, 16:31 UTC

Solana options show higher 1w RR25 skew. RR25 term structure from Derivasys data.
Source: Derivasys options data. RR25; unsupported tenors remain blank. Cite this report.

View full-size chart

Plotted chart data
RR25, vol points · 2026-10-19T16:31:00+00:00
TenorSOL currentSOL previous
1W-0.21-4.71
2W-0.23-3.20
1M0.00-0.56
3MUnavailableUnavailable
6MUnavailableUnavailable
9MUnavailableUnavailable
1YUnavailableUnavailable
Chart download and reuse termsDownload 1280 × 720 chart · Reuse terms

01 · Daily briefing

Macro · Crypto · Options

The day in markets.

Smile rotation is the fitted IV change at +0.15 log-moneyness minus the change at −0.15, in volatility points. A positive reading indicates a relative shift toward the call side.

Solana options show higher 1W RR25 skew

The 1W RR25 skew change for SOL was +4.50 volatility points over the stored comparison.

The Defiant reported: “SkyAI Sells Entire Solana Treasury, Launches $201 Million Tender”. This is background reporting; a direct link to the options observation is not established.

Macro

No qualifying macro event was retained for this report window.

Crypto

Selected canonical sources are retained below as context.

Links identify the underlying reporting for retained events; entries without a retained link are marked.

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 1M at +2.34 volatility points, to 56.75%.

Derived directly from structured Derivasys surface data

03 · Catalyst check

18 Oct 2026, 16:31 UTC to 19 Oct 2026, 16:31 UTC

Relevant context found; no confirmed catalyst

Relevant market event

1 relevant event was retained for the comparison window.

Confidencelow causal confidence

News is presented as contextual association unless the structured evidence supports a stronger relationship.

04 · Detailed analysis

What changed across the SOL volatility surface.

Implied versus realised

At the 16:31 UTC cutoff, 1W ATM IV was 58.27%, 7.50 volatility points below seven-day realised volatility of 65.77%; 24-hour realised volatility was 58.11% and 30-day realised volatility was 57.53%.

Front end

Front-end ATM IV increased, averaging +1.93 volatility points to 57.55% 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 calls, averaging +2.68 volatility points to -0.15 volatility points across the three available headline tenors.

Convexity

BF25 decreased, averaging -0.30 volatility points to 4.47 volatility points across the three available headline tenors.

Largest standard-tenor move

The largest standard-tenor ATM IV move was +2.34 volatility points at 1M, to 56.75%.

24h spot-index return

SOL spot-index return was +2.58% over 24 hours.

7d spot-index return

SOL spot-index return was -3.97% over seven days.

Two-day RR25 whipsaw

SOL 1W RR25 adjacent daily moves were -1.29 then +4.50 volatility points; gross movement 5.79 versus net +3.21. 0 strict zero crossings. Opposite moves meet the operational whipsaw inspection threshold.

Universe roll: added 21OCT26; removed 19OCT26. Comparisons use common expiries only.

05 · Standard-tenor ranking

Largest surface events

01

Largest eligible smile rotation

23OCT26, +11.96 vol pts
02

Largest standard-tenor RR25 move

1W, +4.50 vol pts
03

Largest standard-tenor ATM IV move

1M, +2.34 vol pts
04

Largest standard-tenor BF25 move

1W, -0.46 vol pts
05

Largest eligible SVI rho move

30OCT26, -0.3161 param
06

Largest eligible SVI sigma move

30OCT26, +0.1473 param

06 · ATM volatility

Standard-tenor ATM implied volatility.

TenorCurrent (vol %)Comparison snapshot (vol %)Change (vol pts)Relative change
1W58.2757.10+1.17 vol pts+2.05%
2W57.6255.33+2.29 vol pts+4.14%
1M56.7554.41+2.34 vol pts+4.30%
3MUnavailableUnavailableUnavailableUnavailable
6MUnavailableUnavailableUnavailableUnavailable
9MUnavailableUnavailableUnavailableUnavailable
1YUnavailableUnavailableUnavailableUnavailable

Source: Derivasys Research — structured data

07 · Risk reversals

RR25 skew moved most at 1W.

RR25 moved towards calls, averaging +2.68 volatility points to -0.15 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-2.4 vol pts-0.9 vol pts0.6 vol pts1W2W1M
TenorCurrent (vol pts)Comparison snapshot (vol pts)Change (vol pts)
1W-0.21-4.71+4.50 vol pts
2W-0.23-3.20+2.97 vol pts
1M0.00-0.56+0.56 vol pts
3MUnavailableUnavailableUnavailable
6MUnavailableUnavailableUnavailable
9MUnavailableUnavailableUnavailable
1YUnavailableUnavailableUnavailable

Source: Derivasys Research — structured data

08 · Butterflies

BF25 convexity changed most at 1W.

BF25 decreased, averaging -0.30 volatility points to 4.47 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)
1W3.894.35-0.46 vol pts
2W4.354.72-0.37 vol pts
1M5.185.24-0.06 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

20OCT26, +18.36 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.

53.9%55.1%56.3%57.5%58.7%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
20OCT26Expiry effect0.6 days104.46+2.57 USD54.30%-1.84 vol pts+4.90 vol pts-0.60 vol pts
23OCT263.6 days104.51+2.61 USD58.66%-0.21 vol pts+5.56 vol pts-0.18 vol pts
30OCT2610.6 days104.57+2.62 USD58.13%+2.46 vol pts+3.83 vol pts-0.67 vol pts
27NOV2638.6 days104.82+2.59 USD56.58%+2.37 vol pts+0.03 vol pts-0.01 vol pts
25DEC2666.6 days105.09+2.80 USD54.60%+1.12 vol pts+0.73 vol pts+0.27 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.

20OCT26rotation towards calls · wing steepening
-0.30k0.00k+0.30k
23OCT26rotation towards calls · wing steepening
-0.30k0.00k+0.30k
30OCT26rotation towards calls · wing flattening
-0.30k0.00k+0.30k
27NOV26parallel shift higher
-0.30k0.00k+0.30k
25DEC26parallel shift higher · rotation towards calls
-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 reported crypto realised volatility was 42.18%, versus SPX reported realised volatility of 10.45%. The spread ranked at percentile rank 18.7% of 251 prior observations.

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.

RV comparison basis unverified: this edition does not record the recognised provider methodology for both horizons and annualisation conventions. The displayed spread rank does not establish matched-horizon comparability.

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; Derivasys fixed 30-calendar-day ATM IV versus Yahoo Finance ^VIX; RV compares crypto 20-calendar-day log returns annualised sqrt(365) with ^GSPC 20-US-session log returns annualised sqrt(252). IV/RV and their spreads use volatility_points; ratios are ratios; correlations are correlation_coefficient; percentile ranks use prior valid observations. All metric observation timestamps and benchmark source timestamps: 2026-10-16T20:00:00Z. Crypto snapshot and benchmark timestamp: 2026-10-16T20:00:00Z; ingestion: 2026-10-16T22:30:50.861284Z; alignment tolerance 600 seconds; quality valid. Returned freshness fresh, ageSeconds 246660, evaluatedAt 2026-10-19T16:31:00Z. IV spread percentile null and IV ratio percentile null, each sampleCount 33. Other returned cross-asset metrics: ivSpreadChange1d -5.9600006866455075 volatility_points; ivRatioChange1d -0.7328611239814475 ratio_change; rvSpreadChange1d -0.33231940606994215 volatility_points; rvRatioChange1d -0.30054644270486186 ratio_change; returnCorrelation30Percentile 74.55357142857143 with sampleCount 224; returnCorrelation60Percentile 21.341463414634145 with sampleCount 164. These session observations are separate from the report's 16:31 UTC options endpoints.

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
2026-10-18 16:31:00 UTC → 2026-10-19 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 · 19 Oct 2026, 16:31 UTC

The measurement behind the lead chart

SOL 1W RR25 -0.21 vol pts · Δ +4.50 vol pts

SOL percentile rank 95.5% by absolute move · 30-day window (n=22); 1-day moves sampled daily UTC; 2026-09-18 to 2026-10-18

Original report summary

SOL 1W RR25 skew is -0.21 percent, compared with -4.71 percent at the prior cutoff. The diary separates sourced context from measured market changes; the timing of an event alone does not establish a causal link.

At report cutoff · Levels and stored endpoint changes

What matters now

Vol: SOL 1W ATM IV 58.27% · Δ +1.17 vol pts

Skew: SOL 1W RR25 -0.21 vol pts · Δ +4.50 vol pts

Relative value: SOL 1W IV 58.27% / 7D RV 65.77% · spread -7.50 vol pts

Vol

SOL 1W ATM IV 58.27% · Δ +1.17 vol ptspercentile rank 27.3% by absolute move · 30-day window (n=22); 1-day moves sampled daily UTC; 2026-09-18 to 2026-10-18

Skew

SOL 1W RR25 -0.21 vol pts · Δ +4.50 vol ptspercentile rank 95.5% by absolute move · 30-day window (n=22); 1-day moves sampled daily UTC; 2026-09-18 to 2026-10-18

Wings

SOL 1W BF25 3.89 vol pts · Δ -0.46 vol ptspercentile rank 57.9% by absolute move · full history (n=38); 1-day moves sampled daily UTC; 2026-09-02 to 2026-10-18

IV versus RV

SOL 1W IV 58.27% / 7D RV 65.77% · spread -7.50 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 27.3% by absolute move · 30-day window (n=22); 1-day moves sampled daily UTC; 2026-09-18 to 2026-10-18

SOL 1W RR25: percentile rank 95.5% by absolute move · 30-day window (n=22); 1-day moves sampled daily UTC; 2026-09-18 to 2026-10-18

SOL 1W BF25: percentile rank 57.9% by absolute move · full history (n=38); 1-day moves sampled daily UTC; 2026-09-02 to 2026-10-18

Technical appendix: measurement and history provenance

Download the full canonical report and evidence receipts (JSON). Artifact SHA-256: 61706d190f198d2edddfd9f0af85702c2f85d2f3e929691909129dc9a893267c.

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 observations2026-09-18 → 2026-10-18
2026-09-18T16:31:00+00:00 → 2026-10-18T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:a051a7cf2dae5938c5fe8c20fe4c23c89666e9d051cc277526f0b020c1c7d7c0
SOL 1W atmIvmoveFullHistory38 samples; 1 days; daily UTC observations2026-09-02 → 2026-10-18
2026-09-02T16:31:00+00:00 → 2026-10-18T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:36168be57acced3881dd1b321203db6a8ed653367ffb9d9c7e9de50df5277729
SOL 1W atmIvlevelFullHistory45 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-18
2026-08-29T16:31:00+00:00 → 2026-10-18T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:6def211d3f5f21a8a8d77f5907c442b977f20873e728131f4d18cc098f3e94dd
SOL 1W bf25move30d22 samples; 1 days; daily UTC observations2026-09-18 → 2026-10-18
2026-09-18T16:31:00+00:00 → 2026-10-18T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:73ba0d172e60eef41c134e1606653374b2c6008338071903356fcc57730d82cd
SOL 1W bf25moveFullHistory38 samples; 1 days; daily UTC observations2026-09-02 → 2026-10-18
2026-09-02T16:31:00+00:00 → 2026-10-18T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:9e38c54283fd9d7c02165a0d443395b4d3e3f800ee8f9ead71bbf0c9aaa22e9b
SOL 1W bf25levelFullHistory45 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-18
2026-08-29T16:31:00+00:00 → 2026-10-18T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:4a057426a4a9877a36402daf0644aa9f406b86b59bd932843702d6dd8fde26f4
SOL 1W rr25move30d22 samples; 1 days; daily UTC observations2026-09-18 → 2026-10-18
2026-09-18T16:31:00+00:00 → 2026-10-18T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:21442138427b962edcedc3de70186052c6182616f3d1837b6ad21aa64aee4ceb
SOL 1W rr25moveFullHistory38 samples; 1 days; daily UTC observations2026-09-02 → 2026-10-18
2026-09-02T16:31:00+00:00 → 2026-10-18T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:054b653fea4215c51c666d75a0a6a14f2331a30d9311a3b36e69414c773f89aa
SOL 1W rr25levelFullHistory45 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-18
2026-08-29T16:31:00+00:00 → 2026-10-18T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:771dd5e0ae21e146126a8a4f23aacdacfff813538c514de4e938aaadd8c9ef0e
SOL 2W atmIvmove30d22 samples; 1 days; daily UTC observations2026-09-18 → 2026-10-18
2026-09-18T16:31:00+00:00 → 2026-10-18T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:561705368ab18cea008b0f309e9e99f556afcdeb020a5c02128d6099aa275cf0
SOL 2W atmIvmoveFullHistory38 samples; 1 days; daily UTC observations2026-09-02 → 2026-10-18
2026-09-02T16:31:00+00:00 → 2026-10-18T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:17ef8b1710493b9cd9a77a4e614e30be8953f9bdddf5ec571aa40bbefff8f155
SOL 2W atmIvlevelFullHistory45 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-18
2026-08-29T16:31:00+00:00 → 2026-10-18T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:dfdcaf046e30089a4ca8e1a367115e1d31c8bf88bbef42c8ef5e1c35c2218c1f
SOL 2W bf25move30d22 samples; 1 days; daily UTC observations2026-09-18 → 2026-10-18
2026-09-18T16:31:00+00:00 → 2026-10-18T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:92201fa526e49664e1ec2008f048dc3ecf717687a6da2e37ea45bcdfafbf87ac
SOL 2W bf25moveFullHistory38 samples; 1 days; daily UTC observations2026-09-02 → 2026-10-18
2026-09-02T16:31:00+00:00 → 2026-10-18T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:1a0ed1b91e0a991346b699bb36ae7722d9235bd9bd4b7fd880b49f58544f16f8
SOL 2W bf25levelFullHistory45 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-18
2026-08-29T16:31:00+00:00 → 2026-10-18T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:24c1d9d9d9bea34852d0e5de06d1f8adb597bf1638bd054a0be41592ebc5990c
SOL 2W rr25move30d22 samples; 1 days; daily UTC observations2026-09-18 → 2026-10-18
2026-09-18T16:31:00+00:00 → 2026-10-18T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:f14eb6f6517d20a21458cb692aa91915732265cd7fa52d061b9ac34c52f6d300
SOL 2W rr25moveFullHistory38 samples; 1 days; daily UTC observations2026-09-02 → 2026-10-18
2026-09-02T16:31:00+00:00 → 2026-10-18T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:9c5ff29bf97a5d2be9a089f729ef4f3900d4a66a42b4cab8a363bf4335bde8c1
SOL 2W rr25levelFullHistory45 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-18
2026-08-29T16:31:00+00:00 → 2026-10-18T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:bca4f5774a80b86c0b747368e0e413fbf4d9e9b06d1a484c8dfba6b814289430
SOL 1M atmIvmove30d22 samples; 1 days; daily UTC observations2026-09-18 → 2026-10-18
2026-09-18T16:31:00+00:00 → 2026-10-18T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:8a83cc64aadf311e7f4673d199e6ef24a4523970e2fb25fe61cfa236e0d8ec8d
SOL 1M atmIvmoveFullHistory38 samples; 1 days; daily UTC observations2026-09-02 → 2026-10-18
2026-09-02T16:31:00+00:00 → 2026-10-18T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:a34040c8f04e0a98d1f7294fbb44bc1baedff1c0ecb342a1a698520f46c2cb5b
SOL 1M atmIvlevelFullHistory45 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-18
2026-08-29T16:31:00+00:00 → 2026-10-18T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:a978baa1965583f38b6b1e789b35976f3856d1a52956b0e21b6dca7073a0a183
SOL 1M bf25move30d22 samples; 1 days; daily UTC observations2026-09-18 → 2026-10-18
2026-09-18T16:31:00+00:00 → 2026-10-18T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:e352065eb43e2c9b20d96b0de3a93d6d1ef034c9fae7ee90e951c3cc29b18f24
SOL 1M bf25moveFullHistory38 samples; 1 days; daily UTC observations2026-09-02 → 2026-10-18
2026-09-02T16:31:00+00:00 → 2026-10-18T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:1284d7b17d59aef41add656df5cbabd0d60fa15d8ceb12f01fb1e9c832ce38ce
SOL 1M bf25levelFullHistory45 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-18
2026-08-29T16:31:00+00:00 → 2026-10-18T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:ff1090846f757b6419136d954a412d7f5eb729a487f6c2ab780e1e61abc4f790
SOL 1M rr25move30d22 samples; 1 days; daily UTC observations2026-09-18 → 2026-10-18
2026-09-18T16:31:00+00:00 → 2026-10-18T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:895a659bf30be389134e5ac0b5a834d90f70636eb3bc6ca2216f4998ff18a53e
SOL 1M rr25moveFullHistory38 samples; 1 days; daily UTC observations2026-09-02 → 2026-10-18
2026-09-02T16:31:00+00:00 → 2026-10-18T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:2f359782c282872007ea5fcc55aebb609d69dd86b0278a47b09332b1f98d66e4
SOL 1M rr25levelFullHistory45 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-18
2026-08-29T16:31:00+00:00 → 2026-10-18T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:dbed91b815b231b78215990f19a7587af69fe117dd87ae3745c6ead7b4e7e065
SOL 3M atmIvmove30d4 samples; 1 days; daily UTC observations2026-09-18 → 2026-09-24
2026-09-18T16:31:00+00:00 → 2026-09-24T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:44f4a28845c86725058215dc34cf0064154e6b8c0e633250ed03f36d1d7a6224
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 bf25move30d4 samples; 1 days; daily UTC observations2026-09-18 → 2026-09-24
2026-09-18T16:31:00+00:00 → 2026-09-24T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:33fdaa520a24eb83b12f4bacb6766c65dcbac408ac4ea1af49a2ab588248b0e2
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 rr25move30d4 samples; 1 days; daily UTC observations2026-09-18 → 2026-09-24
2026-09-18T16:31:00+00:00 → 2026-09-24T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:6f925192c48ee4da3831a048e6f6726bee4fd88245006f5069e741dc95cd1204
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 30OCT26; the largest sigma change occurred at 30OCT26.

ExpiryΔ aΔ bΔ rhoΔ mΔ sigmaSmile classification
20OCT26+0.04110-0.04660+0.19280+0.09300-0.26010rotation towards calls, wing steepening
23OCT26-0.03240+0.03740-0.07420-0.07960+0.12540rotation towards calls, wing steepening
30OCT26-0.02790+0.01820-0.31610-0.17570+0.14730rotation towards calls, wing flattening
27NOV26-0.01160+0.01240+0.01880+0.00600+0.05050parallel shift higher
25DEC26+0.00290+0.00110+0.00740-0.00480-0.00990parallel shift higher, rotation towards calls

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 Gamma20OCT26, 0.167229 1 / USD
Highest Theta Decay20OCT26, -0.737037 USD / day
Highest Vanna25DEC26, 0.000847 delta / vol pt
Highest Vega25DEC26, 0.177933 USD / vol pt
Highest Volga25DEC26, -0.000044 USD / vol pt²

7D realised volatility · data quality

AssetRecorded RVStatusCoverage / requiredLongest gap / maximum
SOL65.77%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 19 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
19 Oct 2026, 16:31 UTC
Comparison snapshot
18 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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