01 · Weekly briefing
The week’s relative-value signal.
TRX one-week ATM IV was 5.75 volatility points above seven-day realised volatility, while XRP one-week ATM IV was 16.90 points below seven-day realised volatility.
02 · Options market read
Dispersion across the seven-market complex.
One-week ATM IV changes ranged from -2.83 vol pts in TRX to +11.06 vol pts in AVAX, a 13.89-point spread.
One-week ATM IV levels spanned 47.60 volatility points, with AVAX highest and TRX lowest.
03 · Catalyst check
Relevant context found; causality unconfirmed.
The central research dossier identified events relevant to the covered options markets; they are retained as context rather than assigned as causes.
Selected events and sources
- 01Federal Reserve issues FOMC statementFederal Reserve ·
The Federal Reserve issued its statement following the September 15–16 FOMC meeting.
- 02SEC Issues “Innovation Exemption” to Facilitate the Trading of Tokenized NMS Stock and Request for CommentSEC ·
The SEC issued an Innovation Exemption for tokenized NMS-stock trading and requested comment.
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 | 34.63% | -0.22 vol pts | 36.31% | -1.68 vol pts | +1.25 vol pts | +1.72 vol pts | 2.07 vol pts |
| ETH | 48.21% | -0.22 vol pts | 51.10% | -2.89 vol pts | +2.13 vol pts | +3.28 vol pts | 2.85 vol pts |
| SOL | 53.62% | +3.39 vol pts | Unavailable | Unavailable | +3.02 vol pts | -1.23 vol pts | 4.06 vol pts |
| XRP | 61.47% | +10.23 vol pts | 78.37% | -16.90 vol pts | +1.23 vol pts | -1.37 vol pts | 5.57 vol pts |
| HYPE | 65.26% | +1.39 vol pts | 75.32% | -10.06 vol pts | +6.05 vol pts | +3.82 vol pts | 4.93 vol pts |
| AVAX | 66.51% | +11.06 vol pts | 73.04% | -6.53 vol pts | +6.59 vol pts | +3.43 vol pts | 4.89 vol pts |
| TRX | 18.91% | -2.83 vol pts | 13.16% | +5.75 vol pts | -1.22 vol pts | -0.37 vol pts | 1.86 vol pts |
05 · Relative-value rankings
Leaders and laggards at the common cutoff.
| Metric | 1st | 2nd | 3rd |
|---|---|---|---|
| 1W ATM IV level | AVAX · +66.51 | HYPE · +65.26 | XRP · +61.47 |
| Weekly 1W ATM IV change | AVAX · +11.06 | XRP · +10.23 | SOL · +3.39 |
| Largest absolute 1W ATM IV move | AVAX · +11.06 | XRP · +10.23 | SOL · +3.39 |
| 1W IV minus 7d realised | TRX · +5.75 | BTC · -1.68 | ETH · -2.89 |
| Most call-rich 1W RR25 | AVAX · +6.59 | HYPE · +6.05 | SOL · +3.02 |
| Most put-rich 1W RR25 | TRX · -1.22 | XRP · +1.23 | BTC · +1.25 |
| 7d spot / forward performance | AVAX · +30.90 | HYPE · +15.89 | SOL · +9.67 |
TRX screens richest and XRP cheapest on one-week implied volatility versus seven-day realised volatility, with a 22.65-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 | 34.63% / -0.22 | 34.34% / -1.05 | 36.75% / -1.26 | 38.34% / -0.89 |
| ETH | 48.21% / -0.22 | 48.61% / -1.28 | 52.62% / -0.16 | 54.47% / +0.19 |
| SOL | 53.62% / +3.39 | 52.98% / +0.36 | 54.18% / +2.29 | Unavailable |
| XRP | 61.47% / +10.23 | 58.58% / +6.22 | 57.02% / +5.07 | Unavailable |
| HYPE | 65.26% / +1.39 | 63.66% / +1.29 | 62.71% / +0.50 | Unavailable |
| AVAX | 66.51% / +11.06 | 57.87% / +1.85 | 57.14% / +1.44 | Unavailable |
| TRX | 18.91% / -2.83 | 20.51% / -1.73 | 21.08% / -1.44 | 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.