Derivasys
Open Dashboard

Daily SOL options market report · 24-hour comparison

Solana options show lower 2w BF25 butterfly

SOL spot fell 3.93%; 2W ATM IV rose 2.91 volatility points; Skew moved toward puts (-1.64 vol points).

By Sean Gordon — Derivasys Research

Published

Snapshot data and comparison

Snapshot · 22 Oct 2026, 16:31 UTC

Generated timestamp:

Scheduled edition reference: 2026-10-22 16:31:00 UTC. Native observations below retain their actual fit times.

Report comparison baseline → current snapshot
2026-10-21 16:31:00 UTC → 2026-10-22 16:31:00 UTC
Report native fit age at scheduled reference
0 minutes

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

  • SOLSpot-index 24h -3.93%1W ATM IV 53.96%1W RR25 +1.62 vol pts1W BF25 +3.16 vol pts1W IV − 7D RV -0.33 vol pts

Notable move: SOL 2W BF25 Δ -1.06 vol pts → +3.15 vol pts · percentile rank 95.1% by absolute move · 1-day moves · full history (n=41).

2W BF25 – selected tenor
Vol points

2W BF25 – selected tenor. Vol points. SOL: Current 3.15, Previous 4.21.CurrentPreviousSOL3.154.210.002.274.55

Current: 22 Oct 2026, 16:31 UTC
Previous: 21 Oct 2026, 16:31 UTC

Solana options show lower 2w BF25 butterfly. BF25 term structure from Derivasys data.
Source: Derivasys options data. BF25; unsupported tenors remain blank. Cite this report.

View full-size chart

Plotted chart data
BF25, vol points · 2026-10-22T16:31:00+00:00
TenorSOL currentSOL previous
1W3.163.65
2W3.154.21
1M4.134.62
3MUnavailableUnavailable
6MUnavailableUnavailable
9MUnavailableUnavailable
1YUnavailableUnavailable

The 2W BF25 butterfly change for SOL was -1.06 volatility points over the stored comparison. No news item was selected for this report date.

Chart download and reuse termsDownload 1280 × 720 chart · Reuse terms
Previous report, watch levels and methodology

Uses the stored headline’s selected tenor. Cutoffs 21 Oct, 16:31 UTC to 22 Oct, 16:31 UTC.

Previous publication · research context

2026-10-21: “Solana options shift from put-rich to call-rich weekly skew”

Previous publication cutoff 21 Oct, 16:31 UTC. Today’s market comparison starts at 21 Oct, 16:31 UTC. Snapshot clocks align for the measured comparison below.

Previous publication JSON · SHA-256 fd81d77e3b3df354b48cc3234a8e2862b9b5f60df9e595cc531181434928e34c

Prior watch: measured outcome

Against the 2026-10-21 daily edition.

  • SOL 2W ATM IV: prior change -0.68 → current change +2.91 volatility points; direction reversed.
  • SOL spot-index return: prior change +2.25 → current change -3.93 percent; direction reversed.
  • SOL 2W RR25: prior change +3.89 → current change -1.64 volatility points; direction reversed.
  • SOL 2W BF25: prior change -0.31 → current change -1.06 volatility points; same direction.
  • SOL 1W RR25 ≥ 3.61 volatility points (hold the observed endpoint) at 22 Oct, 16:31 UTC: not met (observed 1.62 volatility points).
  • SOL 1W RR25 ≤ -2.41 volatility points (full retrace to the prior endpoint) at 22 Oct, 16:31 UTC: not met (observed 1.62 volatility points).

Next daily cutoff: measurable checks

  • Hold the observed level: SOL 2W BF25 ≤ 3.15 volatility points at . Current level 3.15; threshold is the current observed endpoint.
  • Full retrace: SOL 2W BF25 ≥ 4.21 volatility points at . Current level 3.15; 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 8f6fbef0c4e23cba0cb9ab5e53be4d4572d631c5578007fe64ebb5ceb9913760

Prior artifact: /v1/sol/daily/2026-10-21/fd81d77e3b3df354b48cc3234a8e2862b9b5f60df9e595cc531181434928e34c.json · SHA-256 fd81d77e3b3df354b48cc3234a8e2862b9b5f60df9e595cc531181434928e34c

Consumed endpoint proof: 50c5a51700a6237b79d66824b73b8d114c60b21e4c4a35ddb81d42a8ee9d79df

  • SOL:bf25:2W:observed-current-level: rows[asset=SOL].report.tenors[tenor=2W].bf25.previous; rows[asset=SOL].report.tenors[tenor=2W].bf25.current; rows[asset=SOL].report.tenors[tenor=2W].bf25.change; evaluation window 2026-10-22T16:31:00+00:00 to 2026-10-23T16:31:00+00:00.
  • SOL:bf25:2W:observed-previous-level: rows[asset=SOL].report.tenors[tenor=2W].bf25.previous; rows[asset=SOL].report.tenors[tenor=2W].bf25.current; rows[asset=SOL].report.tenors[tenor=2W].bf25.change; evaluation window 2026-10-22T16:31:00+00:00 to 2026-10-23T16:31:00+00:00.
Chart notes

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 2W at +2.91 volatility points, to 56.48%.

Derived directly from structured Derivasys surface data

03 · Catalyst check

21 Oct 2026, 16:31 UTC to 22 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 53.96%, broadly in line with seven-day realised volatility of 54.29%; 24-hour realised volatility was 51.83% and 30-day realised volatility was 56.51%.

Front end

Front-end ATM IV increased, averaging +1.60 volatility points to 55.17% 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 -1.30 volatility points to 1.43 volatility points across the three available headline tenors.

Convexity

BF25 decreased, averaging -0.68 volatility points to 3.48 volatility points across the three available headline tenors.

Largest standard-tenor move

The largest standard-tenor ATM IV move was +2.91 volatility points at 2W, to 56.48%.

24h spot-index return

SOL spot-index return was -3.93% over 24 hours.

7d spot-index return

SOL spot-index return was -1.05% over seven days.

Two-day RR25 whipsaw

SOL 1W RR25 adjacent daily moves were +6.02 then -1.99 volatility points; gross movement 8.01 versus net +4.03. 1 strict zero crossings. Opposite moves meet the operational whipsaw inspection threshold.

Universe roll: added 24OCT26, 6NOV26; removed 22OCT26. Comparisons use common expiries only.

05 · Standard-tenor ranking

Largest surface events

01

Largest standard-tenor ATM IV move

2W, +2.91 vol pts
02

Largest eligible smile rotation

30OCT26, -2.46 vol pts
03

Largest standard-tenor RR25 move

1W, -1.99 vol pts
04

Largest standard-tenor BF25 move

2W, -1.06 vol pts
05

Largest eligible SVI sigma move

30OCT26, +0.1428 param
06

Largest eligible SVI rho move

30OCT26, +0.1304 param

06 · ATM volatility

Standard-tenor ATM implied volatility.

TenorCurrent (vol %)Comparison snapshot (vol %)Change (vol pts)Relative change
1W53.9652.96+1.00 vol pts+1.89%
2W56.4853.57+2.91 vol pts+5.43%
1M55.0754.17+0.90 vol pts+1.66%
3MUnavailableUnavailableUnavailableUnavailable
6MUnavailableUnavailableUnavailableUnavailable
9MUnavailableUnavailableUnavailableUnavailable
1YUnavailableUnavailableUnavailableUnavailable

Source: Derivasys Research — structured data

07 · Risk reversals

RR25 skew moved most at 1W.

RR25 moved towards puts, averaging -1.30 volatility points to 1.43 volatility points across the three available headline tenors. Negative RR25 denotes a richer 25-delta put wing under the call-minus-put convention.

0.7 vol pts1.5 vol pts2.3 vol pts3.1 vol pts3.9 vol pts1W2W1M
TenorCurrent (vol pts)Comparison snapshot (vol pts)Change (vol pts)
1W1.623.61-1.99 vol pts
2W1.052.69-1.64 vol pts
1M1.631.90-0.27 vol pts
3MUnavailableUnavailableUnavailable
6MUnavailableUnavailableUnavailable
9MUnavailableUnavailableUnavailable
1YUnavailableUnavailableUnavailable

Source: Derivasys Research — structured data

08 · Butterflies

BF25 convexity changed most at 2W.

BF25 decreased, averaging -0.68 volatility points to 3.48 volatility points across the three available headline tenors. BF25 measures the average 25-delta wing premium over ATM IV.

2.9 vol pts3.4 vol pts3.9 vol pts4.4 vol pts4.8 vol pts1W2W1M
TenorCurrent (vol pts)Comparison snapshot (vol pts)Change (vol pts)
1W3.163.65-0.49 vol pts
2W3.154.21-1.06 vol pts
1M4.134.62-0.49 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

23OCT26, -27.24 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.

52.5%53.6%54.7%55.8%56.9%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
23OCT26Expiry effect0.6 days104.22-4.23 USD52.50%-1.97 vol pts-5.62 vol pts-2.20 vol pts
30OCT267.6 days104.39-4.09 USD53.94%+1.07 vol pts-1.88 vol pts-0.50 vol pts
27NOV2635.6 days104.62-4.14 USD54.83%+0.57 vol pts-0.04 vol pts-0.40 vol pts
25DEC2663.6 days104.94-4.10 USD54.23%-0.06 vol pts+0.19 vol pts-0.35 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.

23OCT26rotation towards puts · wing flattening
-0.30k0.00k+0.30k
30OCT26rotation towards puts
-0.30k0.00k+0.30k
27NOV26parallel shift higher
-0.30k0.00k+0.30k
25DEC26parallel shift lower
-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 3.3 times VIX, while its 30-session return correlation with SPX was mixed at 0.57.

Implied-volatility premium

SOL 30-day ATM IV was 54.43%, against VIX at 16.68: a 37.75-point spread and 3.26× ratio.

Daily-close realised-volatility regime

SOL reported crypto realised volatility was 45.12%, versus SPX reported realised volatility of 8.94%. The spread ranked at percentile rank 27.6% of 254 prior observations.

Equity co-movement

Return correlation with SPX was 0.573 over 30 aligned sessions and 0.402 over 60 sessions. VIX9D, VIX and VIX3M closed at 15.49, 16.68 and 18.72.

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 21 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

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

Scheduled edition reference: 2026-10-22 16:31:00 UTC. Native observations below retain their actual fit times.

Report comparison baseline → current snapshot
2026-10-21 16:31:00 UTC → 2026-10-22 16:31:00 UTC
Report native fit age at scheduled reference
0 minutes

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

Lead signal · 22 Oct 2026, 16:31 UTC

The measurement behind the lead chart

SOL 2W BF25 3.15 vol pts · Δ -1.06 vol pts

SOL percentile rank 95.1% by absolute move · full history (n=41); 1-day moves sampled daily UTC; 2026-09-02 to 2026-10-21

Original report summary

SOL 2W BF25 butterfly is 3.15 percent, compared with 4.21 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 53.96% · Δ +1.00 vol pts

Skew: SOL 1W RR25 1.62 vol pts · Δ -1.99 vol pts

Relative value: SOL 1W IV 53.96% / 7D RV 54.29% · spread -0.33 vol pts

Vol

SOL 1W ATM IV 53.96% · Δ +1.00 vol ptspercentile rank 26.1% by absolute move · 30-day window (n=23); 1-day moves sampled daily UTC; 2026-09-22 to 2026-10-21

Skew

SOL 1W RR25 1.62 vol pts · Δ -1.99 vol ptspercentile rank 69.6% by absolute move · 30-day window (n=23); 1-day moves sampled daily UTC; 2026-09-22 to 2026-10-21

Wings

SOL 1W BF25 3.16 vol pts · Δ -0.49 vol ptspercentile rank 65.9% by absolute move · full history (n=41); 1-day moves sampled daily UTC; 2026-09-02 to 2026-10-21

IV versus RV

SOL 1W IV 53.96% / 7D RV 54.29% · spread -0.33 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 26.1% by absolute move · 30-day window (n=23); 1-day moves sampled daily UTC; 2026-09-22 to 2026-10-21

SOL 1W RR25: percentile rank 69.6% by absolute move · 30-day window (n=23); 1-day moves sampled daily UTC; 2026-09-22 to 2026-10-21

SOL 1W BF25: percentile rank 65.9% by absolute move · full history (n=41); 1-day moves sampled daily UTC; 2026-09-02 to 2026-10-21

Technical appendix: measurement and history provenance

Download the full canonical report and evidence receipts (JSON). Artifact SHA-256: 8f6fbef0c4e23cba0cb9ab5e53be4d4572d631c5578007fe64ebb5ceb9913760.

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 atmIvmove30d23 samples; 1 days; daily UTC observations2026-09-22 → 2026-10-21
2026-09-22T16:31:00+00:00 → 2026-10-21T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:78cae32cf0898d083e52197c9f7727b9e0d521197ae925a33d03916030427929
SOL 1W atmIvmoveFullHistory41 samples; 1 days; daily UTC observations2026-09-02 → 2026-10-21
2026-09-02T16:31:00+00:00 → 2026-10-21T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:0218fdbadc42536ee65266b25811e0ab3ed391061f2cfe8c5c9cbd257c1eaca4
SOL 1W atmIvlevelFullHistory48 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-21
2026-08-29T16:31:00+00:00 → 2026-10-21T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:817241f4f00256a989bbf2bf9827dce126f3d5284d801350dab6442c578c5483
SOL 1W bf25move30d23 samples; 1 days; daily UTC observations2026-09-22 → 2026-10-21
2026-09-22T16:31:00+00:00 → 2026-10-21T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:6bde40a15895c75566898dd32f03850634f2995726204ea88a84cbec5b7e1906
SOL 1W bf25moveFullHistory41 samples; 1 days; daily UTC observations2026-09-02 → 2026-10-21
2026-09-02T16:31:00+00:00 → 2026-10-21T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:ce0e65c418db5d1f154571c20622117a3aabb31208b219024e26b8fe4e5da3b2
SOL 1W bf25levelFullHistory48 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-21
2026-08-29T16:31:00+00:00 → 2026-10-21T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:2904f6df57f1d50f8a71947910b21c8ea68f80e342e4a20c06dab1ab5433be00
SOL 1W rr25move30d23 samples; 1 days; daily UTC observations2026-09-22 → 2026-10-21
2026-09-22T16:31:00+00:00 → 2026-10-21T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:d1589253c8ef6bc6bd977f2b29eaf1943bb2d70974a7b9544e71ec9a4d4734e9
SOL 1W rr25moveFullHistory41 samples; 1 days; daily UTC observations2026-09-02 → 2026-10-21
2026-09-02T16:31:00+00:00 → 2026-10-21T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:5d645fed8e643bd3e6e3823c65712f89e2722ac0a0b528a0d241dfff514dd451
SOL 1W rr25levelFullHistory48 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-21
2026-08-29T16:31:00+00:00 → 2026-10-21T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:47888fd94b945beebdd9a4c07f0734f7233452a00cf318cb91240d29fd31f296
SOL 2W atmIvmove30d23 samples; 1 days; daily UTC observations2026-09-22 → 2026-10-21
2026-09-22T16:31:00+00:00 → 2026-10-21T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:350e2f53dd158e3e0c83fc18dcddcec7455de80c37588ab46ed7881d561c5e1b
SOL 2W atmIvmoveFullHistory41 samples; 1 days; daily UTC observations2026-09-02 → 2026-10-21
2026-09-02T16:31:00+00:00 → 2026-10-21T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:87bbc0800159895bc78928503d2afb8a2f2172ab721aa815ec0b65fa8de2089e
SOL 2W atmIvlevelFullHistory48 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-21
2026-08-29T16:31:00+00:00 → 2026-10-21T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:6b2a03ee28b1a953290f691f86c053ce77de732fe8fc9151fff1351226f062e9
SOL 2W bf25move30d23 samples; 1 days; daily UTC observations2026-09-22 → 2026-10-21
2026-09-22T16:31:00+00:00 → 2026-10-21T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:9599dc62db7aaaad0f0c48590695cca98a44434042c196a5d77c72be9f3d1136
SOL 2W bf25moveFullHistory41 samples; 1 days; daily UTC observations2026-09-02 → 2026-10-21
2026-09-02T16:31:00+00:00 → 2026-10-21T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:d5d9241fb30181c9a5044696cf58c14126f54568af179a824431fb07960b2f06
SOL 2W bf25levelFullHistory48 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-21
2026-08-29T16:31:00+00:00 → 2026-10-21T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:4fb3d70f76f8f8a36cb00fe1482220b92f3bc0917cba1d2951c404c2e54110b7
SOL 2W rr25move30d23 samples; 1 days; daily UTC observations2026-09-22 → 2026-10-21
2026-09-22T16:31:00+00:00 → 2026-10-21T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:b00e97ca7e1f08efc3edc9cfc5681e4ce6b495753be1af5a2e039d668396d579
SOL 2W rr25moveFullHistory41 samples; 1 days; daily UTC observations2026-09-02 → 2026-10-21
2026-09-02T16:31:00+00:00 → 2026-10-21T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:542f19679f731001d03afa4305f78bb4a409b8d70d6c80a3dbf164b9c743c245
SOL 2W rr25levelFullHistory48 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-21
2026-08-29T16:31:00+00:00 → 2026-10-21T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:8fd33ce196c47f2ebaed67613e10d7d8b83d52ae3828268bac5b9c37b857bedd
SOL 1M atmIvmove30d23 samples; 1 days; daily UTC observations2026-09-22 → 2026-10-21
2026-09-22T16:31:00+00:00 → 2026-10-21T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:7e1ed8e1264db5d4c66d486c999e0a9aee2a3cd2516c60bdeab289939ae63b21
SOL 1M atmIvmoveFullHistory41 samples; 1 days; daily UTC observations2026-09-02 → 2026-10-21
2026-09-02T16:31:00+00:00 → 2026-10-21T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:2d0028ec57c5d34cecb94a9e2cc8f82297485ca435944e9a7aee9d8f17b12814
SOL 1M atmIvlevelFullHistory48 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-21
2026-08-29T16:31:00+00:00 → 2026-10-21T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:a2f9ddffd45b1128c70720b909187b6cf342687b6b7dda96613d2841f64c2f03
SOL 1M bf25move30d23 samples; 1 days; daily UTC observations2026-09-22 → 2026-10-21
2026-09-22T16:31:00+00:00 → 2026-10-21T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:42a083c5b663488b024ae8b1c0e889b414ddebc9112904561124f6a7e8eaa5b1
SOL 1M bf25moveFullHistory41 samples; 1 days; daily UTC observations2026-09-02 → 2026-10-21
2026-09-02T16:31:00+00:00 → 2026-10-21T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:5eee1c5039c87eff3b8cd869cfa0bb4c1d593baf6569c663104f08413358f3ea
SOL 1M bf25levelFullHistory48 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-21
2026-08-29T16:31:00+00:00 → 2026-10-21T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:c26ee94ae67c6ace8f0c53a6f2e880265a3b056b5be2404ce0739a53d9fe12a5
SOL 1M rr25move30d23 samples; 1 days; daily UTC observations2026-09-22 → 2026-10-21
2026-09-22T16:31:00+00:00 → 2026-10-21T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:cfef03883633cca1319b71c62b44b1ac1fcc8a0209839f212ba5e27bb829e9b3
SOL 1M rr25moveFullHistory41 samples; 1 days; daily UTC observations2026-09-02 → 2026-10-21
2026-09-02T16:31:00+00:00 → 2026-10-21T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:c2516a25ef4068376453e29db5b8aeb21e21c2e6b6f129449a8e0b8e2a255819
SOL 1M rr25levelFullHistory48 samples; 0 days; daily UTC observations2026-08-29 → 2026-10-21
2026-08-29T16:31:00+00:00 → 2026-10-21T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:104b18463030b91f24b2eb7dce2e26b1bfc9f2cb110ced559ae74244f3b8877b
SOL 3M atmIvmove30d2 samples; 1 days; daily UTC observations2026-09-22 → 2026-09-24
2026-09-22T16:31:00+00:00 → 2026-09-24T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:21ed67d943f102cd4cc80792c45b14b50e8eccfdefca430eab5ec8cbc082d779
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 bf25move30d2 samples; 1 days; daily UTC observations2026-09-22 → 2026-09-24
2026-09-22T16:31:00+00:00 → 2026-09-24T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:c3592668b7306bbbec40e5611c4eee519bbf092f12d29e26e787f2a18bffbfd0
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 rr25move30d2 samples; 1 days; daily UTC observations2026-09-22 → 2026-09-24
2026-09-22T16:31:00+00:00 → 2026-09-24T16:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:d6d2524b60ffc66b6cf7576ab730150a608eb9fec65b756977c5997f76fff803
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
23OCT26-0.00870-0.05090-0.05870-0.05490+0.66800rotation towards puts, wing flattening
30OCT26-0.02430+0.01380+0.13040+0.05900+0.14280rotation towards puts
27NOV26-0.03050+0.03020+0.05780+0.01290+0.13770parallel shift higher
25DEC26-0.03730+0.02140+0.05390+0.00870+0.12190parallel shift lower

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 Gamma23OCT26, 0.173413 1 / USD
Highest Theta Decay23OCT26, -0.711182 USD / day
Highest Vanna25DEC26, 0.000828 delta / vol pt
Highest Vega25DEC26, 0.173702 USD / vol pt
Highest Volga25DEC26, -0.000041 USD / vol pt²

7D realised volatility · data quality

AssetRecorded RVStatusCoverage / requiredLongest gap / maximum
SOL54.29%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 22 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
22 Oct 2026, 16:31 UTC
Comparison snapshot
21 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.

Continue through Derivasys

From today’s report to the underlying methods.

Live dashboard All reports Daily metrics data Latest SOL daily Latest weekly API Volatility surface guide What is SVI? Risk reversals Butterflies Local volatility Variance swaps

Get reports by email

Request daily or weekly crypto options reports in your inbox.