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Daily SOL options market report · 24-hour comparison

Solana options show higher 1w RR25 skew

SOL spot rose 0.90%; 1W ATM IV fell 1.51 volatility points; Wing premium decreased (-0.18 vol points).

By Sean Gordon — Derivasys Research

Published

Snapshot data and comparison

Snapshot · 3 Nov 2026, 17:31 UTC

Generated timestamp:

Scheduled edition reference: 2026-11-03 17:31:00 UTC. Native observations below retain their actual fit times.

Report comparison baseline → current snapshot
2026-11-02 17:31:00 UTC → 2026-11-03 17:31:00 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 +0.90%1W ATM IV 58.96%1W RR25 -1.49 vol pts1W BF25 +1.38 vol pts1W IV − 7D RV +0.50 vol pts

Notable move: SOL 1W RR25 Δ +4.23 vol pts → -1.49 vol pts · percentile rank 93.3% by absolute move · 1-day moves · 30-day window (n=30).

1W RR25 – selected tenor
Vol points

1W RR25 – selected tenor. Vol points. SOL: Current -1.49, Previous -5.72.CurrentPreviousSOL-1.49-5.72-6.18-3.090.00

Current: 3 Nov 2026, 17:31 UTC
Previous: 2 Nov 2026, 17:31 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 · 2026-11-03T17:31:00+00:00
TenorSOL currentSOL previous
1W-1.49-5.72
2W-0.35-3.91
1M-0.70-2.23
3MUnavailableUnavailable
6MUnavailableUnavailable
9MUnavailableUnavailable
1YUnavailableUnavailable

The 1W RR25 skew change for SOL was +4.23 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 2 Nov, 17:31 UTC to 3 Nov, 17:31 UTC.

Previous publication · research context

2026-11-02: “Solana options show lower 2w ATM IV”

Previous publication cutoff 2 Nov, 17:31 UTC. Today’s market comparison starts at 2 Nov, 17:31 UTC. Snapshot clocks align for the measured comparison below.

Previous publication JSON · SHA-256 d64fb2967c21988e599fd85485b61ba016248a58cdfce9bc70abc5c74b4e5794

Prior watch: measured outcome

Against the 2026-11-02 daily edition.

  • SOL 1W ATM IV: prior change -2.63 → current change -1.51 volatility points; same direction.
  • SOL spot-index return: prior change -2.46 → current change +0.90 percent; direction reversed.
  • SOL 1W RR25: prior change -1.71 → current change +4.23 volatility points; direction reversed.
  • SOL 1W BF25: prior change -0.06 → current change -0.18 volatility points; same direction.
  • SOL 2W ATM IV ≤ 57.46 percent (hold the observed endpoint) at 3 Nov, 17:31 UTC: met (observed 56.91 percent).
  • SOL 2W ATM IV ≥ 61.08 percent (full retrace to the prior endpoint) at 3 Nov, 17:31 UTC: not met (observed 56.91 percent).

Next daily cutoff: measurable checks

  • Hold the observed level: SOL 1W RR25 ≥ -1.49 volatility points at . Current level -1.49; threshold is the current observed endpoint.
  • Full retrace: SOL 1W RR25 ≤ -5.72 volatility points at . Current level -1.49; 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 90e1c5c7289fa31ffc537aaf9548065ef6309bc5ff16555d677eec7f045bf0e0

Prior artifact: /v1/sol/daily/2026-11-02/d64fb2967c21988e599fd85485b61ba016248a58cdfce9bc70abc5c74b4e5794.json · SHA-256 d64fb2967c21988e599fd85485b61ba016248a58cdfce9bc70abc5c74b4e5794

Consumed endpoint proof: af7b7c59e0150f4e9d3f609c63ccd979aada8b58835e54aa3766da729398b3cf

  • 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 2026-11-03T17:31:00+00:00 to 2026-11-04T17:31:00+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 2026-11-03T17:31:00+00:00 to 2026-11-04T17:31:00+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 1W at -1.51 volatility points, to 58.96%.

Derived directly from structured Derivasys surface data

03 · Catalyst check

02 Nov 2026, 17:31 UTC to 03 Nov 2026, 17:31 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 17:31 UTC cutoff, 1W ATM IV was 58.96%, broadly in line with seven-day realised volatility of 58.46%; 24-hour realised volatility was 57.49% and 30-day realised volatility was 55.55%.

Front end

Front-end ATM IV decreased, averaging -0.84 volatility points to 56.95% 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 +3.11 volatility points to -0.85 volatility points across the three available headline tenors.

Convexity

BF25 was broadly unchanged, averaging -0.10 volatility points to 1.51 volatility points across the three available headline tenors.

Largest standard-tenor move

The largest standard-tenor ATM IV move was -1.51 volatility points at 1W, to 58.96%.

24h spot-index return

SOL spot-index return was +0.90% over 24 hours.

7d spot-index return

SOL spot-index return was -7.71% over seven days.

Two-day RR25 whipsaw

SOL 1W RR25 adjacent daily moves were -1.71 then +4.23 volatility points; gross movement 5.94 versus net +2.52. 0 strict zero crossings. Opposite moves meet the operational whipsaw inspection threshold.

Universe roll: added 5NOV26; removed 3NOV26. Comparisons use common expiries only.

05 · Standard-tenor ranking

Largest surface events

01

Largest eligible smile rotation

13NOV26, +7.80 vol pts
02

Largest standard-tenor RR25 move

1W, +4.23 vol pts
03

Largest standard-tenor ATM IV move

1W, -1.51 vol pts
04

Largest standard-tenor BF25 move

1W, -0.18 vol pts
05

Largest eligible SVI sigma move

6NOV26, +0.1773 param
06

Largest eligible SVI rho move

6NOV26, -0.1546 param

06 · ATM volatility

Standard-tenor ATM implied volatility.

TenorCurrent (vol %)Comparison snapshot (vol %)Change (vol pts)Relative change
1W58.9660.47-1.51 vol pts-2.50%
2W56.9157.46-0.55 vol pts-0.96%
1M54.9955.44-0.45 vol pts-0.81%
3MUnavailableUnavailableUnavailableUnavailable
6MUnavailableUnavailableUnavailableUnavailable
9MUnavailableUnavailableUnavailableUnavailable
1YUnavailableUnavailableUnavailableUnavailable

Source: Derivasys Research — structured data

07 · Risk reversals

RR25 skew moved most at 1W.

RR25 moved towards calls, averaging +3.11 volatility points to -0.85 volatility points across the three available headline tenors. Negative RR25 denotes a richer 25-delta put wing under the call-minus-put convention.

-6.4 vol pts-4.7 vol pts-3.0 vol pts-1.4 vol pts0.3 vol pts1W2W1M
TenorCurrent (vol pts)Comparison snapshot (vol pts)Change (vol pts)
1W-1.49-5.72+4.23 vol pts
2W-0.35-3.91+3.56 vol pts
1M-0.70-2.23+1.53 vol pts
3MUnavailableUnavailableUnavailable
6MUnavailableUnavailableUnavailable
9MUnavailableUnavailableUnavailable
1YUnavailableUnavailableUnavailable

Source: Derivasys Research — structured data

08 · Butterflies

BF25 convexity by standard tenor.

BF25 was broadly unchanged, averaging -0.10 volatility points to 1.51 volatility points across the three available headline tenors. BF25 measures the average 25-delta wing premium over ATM IV.

1.2 vol pts1.4 vol pts1.5 vol pts1.7 vol pts1.9 vol pts1W2W1M
TenorCurrent (vol pts)Comparison snapshot (vol pts)Change (vol pts)
1W1.381.56-0.18 vol pts
2W1.501.57-0.07 vol pts
1M1.661.70-0.04 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

RR25 change

4NOV26, +1.72 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.

54.3%56.0%57.7%59.4%61.1%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
4NOV26Expiry effect0.6 days93.27+0.59 USD71.00%+1.25 vol pts+1.72 vol pts-0.67 vol pts
6NOV262.6 days93.31+0.61 USD62.75%-2.23 vol pts+0.82 vol pts-0.24 vol pts
13NOV269.6 days93.42+0.61 USD58.33%-0.43 vol pts+4.31 vol pts-0.10 vol pts
27NOV2623.6 days93.5+0.58 USD55.61%-0.06 vol pts+2.39 vol pts-0.13 vol pts
25DEC2651.6 days93.73+0.59 USD54.01%-0.97 vol pts+0.01 vol pts+0.15 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.

4NOV26wing steepening
-0.30k0.00k+0.30k
6NOV26rotation towards puts · wing steepening
-0.30k0.00k+0.30k
13NOV26rotation towards calls · wing steepening
-0.30k0.00k+0.30k
27NOV26rotation towards calls
-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 2.6 times VIX, while its 30-session return correlation with SPX was mixed at 0.70.

Implied-volatility premium

SOL 30-day ATM IV was 55.79%, against VIX at 21.15: a 34.64-point spread and 2.64× ratio.

Daily-close realised-volatility regime

SOL reported crypto realised volatility was 46.27%, versus SPX reported realised volatility of 11.52%.

Equity co-movement

Return correlation with SPX was 0.703 over 30 aligned sessions and 0.496 over 60 sessions. VIX9D, VIX and VIX3M closed at 22.46, 21.15 and 21.60.

RV comparison basis unverified: this edition does not record the recognised provider methodology for both horizons and annualisation conventions. Any historical spread rank should not be interpreted as establishing matched-horizon comparability.

As of 02 Nov 2026, 21:00 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: 2026-11-03 17:31:00 UTC. Native observations below retain their actual fit times.

Report comparison baseline → current snapshot
2026-11-02 17:31:00 UTC → 2026-11-03 17:31:00 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 · 3 Nov 2026, 17:31 UTC

The measurement behind the lead chart

SOL 1W RR25 -1.49 vol pts · Δ +4.23 vol pts

SOL percentile rank 93.3% by absolute move · 30-day window (n=30); 1-day moves sampled daily UTC; 2026-10-03 to 2026-11-02

Original report summary

SOL 1W RR25 skew is -1.49 percent, compared with -5.72 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 58.96% · Δ -1.51 vol pts

Skew: SOL 1W RR25 -1.49 vol pts · Δ +4.23 vol pts

Relative value: SOL 1W IV 58.96% / 7D RV 58.46% · spread +0.50 vol pts

Vol

SOL 1W ATM IV 58.96% · Δ -1.51 vol ptspercentile rank 31.7% by absolute move · full history (n=60); 1-day moves sampled daily UTC; 2026-08-28 to 2026-11-02

Skew

SOL 1W RR25 -1.49 vol pts · Δ +4.23 vol ptspercentile rank 93.3% by absolute move · 30-day window (n=30); 1-day moves sampled daily UTC; 2026-10-03 to 2026-11-02

Wings

SOL 1W BF25 1.38 vol pts · Δ -0.18 vol ptspercentile rank 50.0% by absolute move · 30-day window (n=30); 1-day moves sampled daily UTC; 2026-10-03 to 2026-11-02

IV versus RV

SOL 1W IV 58.96% / 7D RV 58.46% · spread +0.50 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 31.7% by absolute move · full history (n=60); 1-day moves sampled daily UTC; 2026-08-28 to 2026-11-02

SOL 1W RR25: percentile rank 93.3% by absolute move · 30-day window (n=30); 1-day moves sampled daily UTC; 2026-10-03 to 2026-11-02

SOL 1W BF25: percentile rank 50.0% by absolute move · 30-day window (n=30); 1-day moves sampled daily UTC; 2026-10-03 to 2026-11-02

Technical appendix: measurement and history provenance

Download the full canonical report and evidence receipts (JSON). Artifact SHA-256: 90e1c5c7289fa31ffc537aaf9548065ef6309bc5ff16555d677eec7f045bf0e0.

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 atmIvmove30d30 samples; 1 days; daily UTC observations2026-10-03 → 2026-11-02
2026-10-03T17:31:00+00:00 → 2026-11-02T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:12b68b3240ca57ad652a868d0cb88f6a827c3319433dab308e27c5f165e96f6e
SOL 1W atmIvmoveFullHistory60 samples; 1 days; daily UTC observations2026-08-28 → 2026-11-02
2026-08-28T17:31:00+00:00 → 2026-11-02T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:6e98bee6696a6dcd4fc703923c8990f040200ab00116fa2b2c2a5919446b9ec7
SOL 1W atmIvlevelFullHistory64 samples; 0 days; daily UTC observations2026-08-28 → 2026-11-02
2026-08-28T17:31:00+00:00 → 2026-11-02T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:40371f8e7d96beb7c712905456b3d5d86b42133374e395bcfbb7c0399135a136
SOL 1W bf25move30d30 samples; 1 days; daily UTC observations2026-10-03 → 2026-11-02
2026-10-03T17:31:00+00:00 → 2026-11-02T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:5647d0938077f7c4694556a48c50a3574321ef0e77134b4faa13efa105b7470c
SOL 1W bf25moveFullHistory60 samples; 1 days; daily UTC observations2026-08-28 → 2026-11-02
2026-08-28T17:31:00+00:00 → 2026-11-02T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:2372324ec95a5a9da1bde8cd4eed2746173bb0d0b569104908ac03303389b2da
SOL 1W bf25levelFullHistory64 samples; 0 days; daily UTC observations2026-08-28 → 2026-11-02
2026-08-28T17:31:00+00:00 → 2026-11-02T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:614825623fd1484b8dabe519549993be2db84909ed3d4985e9c48f574a697471
SOL 1W rr25move30d30 samples; 1 days; daily UTC observations2026-10-03 → 2026-11-02
2026-10-03T17:31:00+00:00 → 2026-11-02T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:a2ef244994d638f2b912048324fa614c65a8e7db02376e4f44ef59fdc692e9b4
SOL 1W rr25moveFullHistory60 samples; 1 days; daily UTC observations2026-08-28 → 2026-11-02
2026-08-28T17:31:00+00:00 → 2026-11-02T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:ab830c7360c75f45e5c1c40e5a3971d6129d14846afacb91e8a505deb5ee735e
SOL 1W rr25levelFullHistory64 samples; 0 days; daily UTC observations2026-08-28 → 2026-11-02
2026-08-28T17:31:00+00:00 → 2026-11-02T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:b5f914f61dd57f46d18cb66a9ee2310901d613b475a1780c0e10dafca9224519
SOL 2W atmIvmove30d30 samples; 1 days; daily UTC observations2026-10-03 → 2026-11-02
2026-10-03T17:31:00+00:00 → 2026-11-02T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:90520a8961883229899690067639cf71447a148517b5083504cf1eb9892ee99b
SOL 2W atmIvmoveFullHistory60 samples; 1 days; daily UTC observations2026-08-28 → 2026-11-02
2026-08-28T17:31:00+00:00 → 2026-11-02T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:0e0c2df3041986f8f8a0d8d1b9e81276297e99d0488247b1d3c38409d4cba718
SOL 2W atmIvlevelFullHistory64 samples; 0 days; daily UTC observations2026-08-28 → 2026-11-02
2026-08-28T17:31:00+00:00 → 2026-11-02T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:4a735e163208db648c71ad6ae6eb701a787ebcbfee37237afbfb2bb4e0ee068e
SOL 2W bf25move30d30 samples; 1 days; daily UTC observations2026-10-03 → 2026-11-02
2026-10-03T17:31:00+00:00 → 2026-11-02T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:a8d152ec049a79308fa74fce64a94a660525c4ddb504150a4c27f862cac788cc
SOL 2W bf25moveFullHistory60 samples; 1 days; daily UTC observations2026-08-28 → 2026-11-02
2026-08-28T17:31:00+00:00 → 2026-11-02T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:77fcbf536b6d8153049a74539eaaeff4b7f018fe76d44aeba2049af734e60bd8
SOL 2W bf25levelFullHistory64 samples; 0 days; daily UTC observations2026-08-28 → 2026-11-02
2026-08-28T17:31:00+00:00 → 2026-11-02T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:0ae0c1e9590fd53ef4971a5e1218f8049a330570171442c73d83e57dea2c8f6b
SOL 2W rr25move30d30 samples; 1 days; daily UTC observations2026-10-03 → 2026-11-02
2026-10-03T17:31:00+00:00 → 2026-11-02T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:dc0b682dbcfd109f4f3bf07af1ea561cf0d63f82e660807d9ac06e540e342c88
SOL 2W rr25moveFullHistory60 samples; 1 days; daily UTC observations2026-08-28 → 2026-11-02
2026-08-28T17:31:00+00:00 → 2026-11-02T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:dc82ab243ff4fd4359cb9a3bf0fad16e4318104c2dd1772de8b2085c9b267f2f
SOL 2W rr25levelFullHistory64 samples; 0 days; daily UTC observations2026-08-28 → 2026-11-02
2026-08-28T17:31:00+00:00 → 2026-11-02T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:bd6f099207f609d344d4ce80b4e0cf5674292d78e5711854fe5f65455ef2418f
SOL 1M atmIvmove30d30 samples; 1 days; daily UTC observations2026-10-03 → 2026-11-02
2026-10-03T17:31:00+00:00 → 2026-11-02T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:fc1b3b5313a49fad0388bc5630347889350df799b327766488af6124e82a321b
SOL 1M atmIvmoveFullHistory60 samples; 1 days; daily UTC observations2026-08-28 → 2026-11-02
2026-08-28T17:31:00+00:00 → 2026-11-02T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:d42d0968a9de1cc895d53bae71980e5d85a5cd3feba28aa136276e8611ba77e0
SOL 1M atmIvlevelFullHistory64 samples; 0 days; daily UTC observations2026-08-28 → 2026-11-02
2026-08-28T17:31:00+00:00 → 2026-11-02T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:af1e81010e9930ab33c6897599698764864a4e3cd380071cae7944997e95e3dc
SOL 1M bf25move30d30 samples; 1 days; daily UTC observations2026-10-03 → 2026-11-02
2026-10-03T17:31:00+00:00 → 2026-11-02T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:891ca79b901fdb767dfd076c71df8d8f793ad94537783628fbeb2c49802b2b6b
SOL 1M bf25moveFullHistory60 samples; 1 days; daily UTC observations2026-08-28 → 2026-11-02
2026-08-28T17:31:00+00:00 → 2026-11-02T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:f6ddf6db072f386e926740840ec3fdbb98817b4311126652660321aff9ae1faf
SOL 1M bf25levelFullHistory64 samples; 0 days; daily UTC observations2026-08-28 → 2026-11-02
2026-08-28T17:31:00+00:00 → 2026-11-02T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:f495c36ba28ae45eee4b502e44dd55833f8b13dea4a0c9f371f8da17b7acbcaf
SOL 1M rr25move30d30 samples; 1 days; daily UTC observations2026-10-03 → 2026-11-02
2026-10-03T17:31:00+00:00 → 2026-11-02T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:0a054a1d926bb512e1984cbac031089a750e54bd0703178c2e666c746de71a75
SOL 1M rr25moveFullHistory60 samples; 1 days; daily UTC observations2026-08-28 → 2026-11-02
2026-08-28T17:31:00+00:00 → 2026-11-02T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:f7db0326aeb2f83944fe90d32fb48d64d2ff85fa881cf35d2e5e2e2bef89d098
SOL 1M rr25levelFullHistory64 samples; 0 days; daily UTC observations2026-08-28 → 2026-11-02
2026-08-28T17:31:00+00:00 → 2026-11-02T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:a0636bc083c9516fa197095488efe9c4c280ca379533465f80cf9fdf4a79327f
SOL 3M 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 3M atmIvmoveFullHistory23 samples; 1 days; daily UTC observations2026-08-28 → 2026-09-24
2026-08-28T17:31:00+00:00 → 2026-09-24T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:eabe301979cbc75ac14f996456138b35e52b3339205922334d83da2d8b578bf7
SOL 3M atmIvlevelFullHistory26 samples; 0 days; daily UTC observations2026-08-28 → 2026-09-24
2026-08-28T17:31:00+00:00 → 2026-09-24T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:d2d1554ad6103fa2fa9840ad60ad067033fad288080832c8f0e2375af6ae0efe
SOL 3M 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 3M bf25moveFullHistory23 samples; 1 days; daily UTC observations2026-08-28 → 2026-09-24
2026-08-28T17:31:00+00:00 → 2026-09-24T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:54cc918445a350435f62ccc2c3515010e76a79119a328b1dc7f39940de4024e2
SOL 3M bf25levelFullHistory26 samples; 0 days; daily UTC observations2026-08-28 → 2026-09-24
2026-08-28T17:31:00+00:00 → 2026-09-24T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:8c4eb108fc35fa212bcbdbc5a8a3dc1cc4c02b5e46816e41e635260846541693
SOL 3M 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 3M rr25moveFullHistory23 samples; 1 days; daily UTC observations2026-08-28 → 2026-09-24
2026-08-28T17:31:00+00:00 → 2026-09-24T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:8f4f205339259ade2bf7e4ef18c57f629f40725caa126c49cf9da870c28b287f
SOL 3M rr25levelFullHistory26 samples; 0 days; daily UTC observations2026-08-28 → 2026-09-24
2026-08-28T17:31:00+00:00 → 2026-09-24T17:31:00+00:00		No period overlap in this cohort; source revision unknown; sha256:6b60fa16d9b1581c5fba1cf1e8f1286994f07cb66e87496db52b01fa430ebf88
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 6NOV26; the largest sigma change occurred at 6NOV26.

ExpiryΔ aΔ bΔ rhoΔ mΔ sigmaSmile classification
4NOV26+0.03750-0.05700-0.01370-0.01350+0.09180wing steepening
6NOV26-0.03610+0.01970-0.15460-0.08670+0.17730rotation towards puts, wing steepening
13NOV26-0.03550+0.01880-0.14420-0.14070+0.16630rotation towards calls, wing steepening
27NOV26-0.01470+0.00780-0.04730-0.06420+0.06770rotation towards calls
25DEC26+0.04080-0.01890+0.07610+0.05180-0.16300parallel 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 Gamma4NOV26, 0.148143 1 / USD
Highest Theta Decay4NOV26, -0.889934 USD / day
Highest Vanna25DEC26, 0.000746 delta / vol pt
Highest Vega25DEC26, 0.139876 USD / vol pt
Highest Volga25DEC26, -0.000027 USD / vol pt²

7D realised volatility · data quality

AssetRecorded RVStatusCoverage / requiredLongest gap / maximum
SOL58.46%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.

7D return concentration and RV sensitivity

Diagnostic based on observed one-minute returns. Removing the largest squared returns illustrates sensitivity; it does not establish price validity or compare independent venues. Coverage limitations above still apply.

AssetReturnsTop 1 / 5 / 10 share of squared returnsRV excluding top 1 / 5 / 10
SOL100802.32% / 6.78% / 9.68%57.78% / 56.46% / 55.59%

SOL largest log return: -1.2335% at 30 Oct 2026, 00:21:00 UTC; previous bar sol_usdc / deribit (non-fallback); current bar sol_usdc / deribit (non-fallback).

RV coverage and methodology

SOL · Available · Surface cutoff 03 Nov 2026, 17:31:00 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
03 Nov 2026, 17:31 UTC
Comparison snapshot
02 Nov 2026, 17:31 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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