01 · Weekly briefing
The week’s relative-value signal.
TRX and AVAX marked the widest one-week implied-versus-realised divergence: TRX was 6.35 volatility points rich to seven-day realised volatility, and AVAX was 6.10 points cheap. ETH’s 6.79-point ATM IV increase was the largest weekly level change elsewhere in the complex.
02 · Options market read
Dispersion across the seven-market complex.
One-week ATM IV changes ranged from -3.59 vol pts in XRP to +6.79 vol pts in ETH, a 10.38-point spread.
One-week ATM IV levels spanned 42.22 volatility points, with HYPE highest and TRX lowest.
03 · Catalyst check
No relevant catalyst identified.
No qualifying context was found in the monitored news sources for this reporting window.
04 · Cross-asset scorecard
Implied volatility, realised volatility and skew.
| Asset | 1W ATM | Weekly ATM Δ | 7d RV | 1W IV − 7d RV | 1W RR25 | Weekly RR25 Δ | 1W BF25 |
|---|---|---|---|---|---|---|---|
| BTC | 34.76% | +1.21 vol pts | 31.42% | +3.34 vol pts | -0.37 vol pts | -1.51 vol pts | 1.77 vol pts |
| ETH | 48.48% | +6.79 vol pts | 45.57% | +2.91 vol pts | -1.16 vol pts | -1.78 vol pts | 3.14 vol pts |
| SOL | 50.01% | -0.91 vol pts | Unavailable | Unavailable | +4.50 vol pts | +2.93 vol pts | 3.68 vol pts |
| XRP | 51.24% | -3.59 vol pts | 55.88% | -4.64 vol pts | +2.59 vol pts | -1.72 vol pts | 2.85 vol pts |
| HYPE | 63.92% | -0.38 vol pts | 65.05% | -1.13 vol pts | +1.49 vol pts | -1.74 vol pts | 5.21 vol pts |
| AVAX | 55.47% | +2.93 vol pts | 61.57% | -6.10 vol pts | +3.09 vol pts | +0.57 vol pts | 3.55 vol pts |
| TRX | 21.70% | +0.70 vol pts | 15.35% | +6.35 vol pts | -0.83 vol pts | -3.18 vol pts | 1.87 vol pts |
05 · Relative-value rankings
Leaders and laggards at the common cutoff.
| Metric | 1st | 2nd | 3rd |
|---|---|---|---|
| 1W ATM IV level | HYPE · +63.92 | AVAX · +55.47 | XRP · +51.24 |
| Weekly 1W ATM IV change | ETH · +6.79 | AVAX · +2.93 | BTC · +1.21 |
| Largest absolute 1W ATM IV move | ETH · +6.79 | XRP · -3.59 | AVAX · +2.93 |
| 1W IV minus 7d realised | TRX · +6.35 | BTC · +3.34 | ETH · +2.91 |
| Most call-rich 1W RR25 | SOL · +4.50 | AVAX · +3.09 | XRP · +2.59 |
| Most put-rich 1W RR25 | ETH · -1.16 | TRX · -0.83 | BTC · -0.37 |
| 7d spot / forward performance | TRX · +3.03 | SOL · -1.06 | AVAX · -1.46 |
TRX screens richest and AVAX cheapest on one-week implied volatility versus seven-day realised volatility, with a 12.45-point cross-sectional range.
06 · Term structures
Supported ATM tenors only.
| Asset | 1W ATM / Δ | 1M ATM / Δ | 3M ATM / Δ | 6M ATM / Δ |
|---|---|---|---|---|
| BTC | 34.76% / +1.21 | 35.40% / -1.20 | 37.96% / -0.88 | 39.19% / -0.98 |
| ETH | 48.48% / +6.79 | 49.97% / +0.51 | 52.75% / +0.64 | 54.28% / +0.23 |
| SOL | 50.01% / -0.91 | 52.58% / +0.83 | 51.94% / +0.56 | Unavailable |
| XRP | 51.24% / -3.59 | 52.18% / -3.04 | 51.89% / -3.45 | Unavailable |
| HYPE | 63.92% / -0.38 | 62.19% / -3.30 | 61.71% / -4.50 | Unavailable |
| AVAX | 55.47% / +2.93 | 56.02% / +0.50 | 55.75% / +0.83 | Unavailable |
| TRX | 21.70% / +0.70 | 22.23% / +4.14 | 22.52% / +3.60 | Unavailable |
Unbracketed standard tenors are unavailable; the page does not display extrapolated surface values.
07 · Methodology
Aligned, availability-aware weekly evidence.
Latest successful snapshot at or before the common cutoff versus the nearest successful snapshot seven days earlier, within a three-hour tolerance.
Standard-tenor values are published only when listed expiries bracket the target on both endpoints; extrapolated values are suppressed.
Seven-day performance uses the nearest eligible listed forward available at both endpoints.