01 · Weekly briefing
The week’s relative-value signal.
TRX 1W ATM IV changed by +20.42 volatility points, compared with ETH 1W ATM IV which changed by +0.14 volatility points.
02 · Options market read
Dispersion at the common cutoff.
Aligned dispersion is unavailable because a verified common-cutoff comparison receipt is not available. The native observations remain in the seven-market scorecard below.
03 · Catalyst check
Relevant context retained.
The central research dossier identified events relevant to the covered options markets; they are retained as context rather than assigned as causes.
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 | 40.27% | +4.41 vol pts | 36.63% | +3.64 vol pts | -5.41 vol pts | -1.53 vol pts | Unavailable |
| ETH | 54.14% | +0.14 vol pts | 52.42% | +1.72 vol pts | -8.59 vol pts | -3.00 vol pts | Unavailable |
| SOL | 64.07% | +9.20 vol pts | 56.82% | +7.25 vol pts | -4.77 vol pts | -2.12 vol pts | Unavailable |
| XRP | 64.11% | +10.79 vol pts | 56.79% | +7.32 vol pts | +0.96 vol pts | +1.00 vol pts | Unavailable |
| HYPE | 73.26% | +14.66 vol pts | 92.27% | -19.01 vol pts | +0.97 vol pts | +2.61 vol pts | Unavailable |
| AVAX | 74.78% | +7.74 vol pts | 72.15% | +2.63 vol pts | -0.14 vol pts | +0.17 vol pts | Unavailable |
| TRX | 41.83% | +20.42 vol pts | 76.56% | -34.73 vol pts | -13.81 vol pts | -15.27 vol pts | Unavailable |
05 · Relative-value rankings
Leaders and laggards at the common cutoff.
The recorded endpoint cohort contains 7 of 7 reported assets with matching current and previous endpoint clocks: 24 Oct 2026, 17:31 UTC to 31 Oct 2026, 17:31 UTC. Aligned assets: BTC, ETH, SOL, XRP, HYPE, AVAX, TRX.
The published headline is retained as written. Fit labels describe fit quality; they do not establish research eligibility.
| Asset | Fit acceptance | Native window | Common cutoff | History | Headline |
|---|---|---|---|---|---|
| BTC | Fit acceptance not recorded | Available | Included in shared endpoint cohort (current 31 Oct 2026, 17:31 UTC; previous 24 Oct 2026, 17:31 UTC) | History is assessed separately for each metric. | Eligible |
| ETH | Fit acceptance not recorded | Available | Included in shared endpoint cohort (current 31 Oct 2026, 17:31 UTC; previous 24 Oct 2026, 17:31 UTC) | History is assessed separately for each metric. | Eligible |
| SOL | Fit acceptance not recorded | Available | Included in shared endpoint cohort (current 31 Oct 2026, 17:31 UTC; previous 24 Oct 2026, 17:31 UTC) | History is assessed separately for each metric. | Eligible |
| XRP | Fit acceptance not recorded | Available | Included in shared endpoint cohort (current 31 Oct 2026, 17:31 UTC; previous 24 Oct 2026, 17:31 UTC) | History is assessed separately for each metric. | Eligible |
| HYPE | Fit acceptance not recorded | Available | Included in shared endpoint cohort (current 31 Oct 2026, 17:31 UTC; previous 24 Oct 2026, 17:31 UTC) | History is assessed separately for each metric. | Eligible |
| AVAX | Fit acceptance not recorded | Available | Included in shared endpoint cohort (current 31 Oct 2026, 17:31 UTC; previous 24 Oct 2026, 17:31 UTC) | History is assessed separately for each metric. | Eligible |
| TRX | Fit acceptance not recorded | Available | Included in shared endpoint cohort (current 31 Oct 2026, 17:31 UTC; previous 24 Oct 2026, 17:31 UTC) | History is assessed separately for each metric. | Eligible |
| Metric | 1st | 2nd | 3rd |
|---|
Aligned implied-versus-realised rankings and interpretation are unavailable without a verified cohort-compatible comparison.
06 · Term structures
Supported ATM tenors only.
| Asset | 1W ATM / Δ | 1M ATM / Δ | 3M ATM / Δ | 6M ATM / Δ |
|---|---|---|---|---|
| BTC | 40.27% / +4.41 | 37.77% / +1.23 | 37.92% / +0.33 | 38.65% / +0.30 |
| ETH | 54.14% / +0.14 | 52.11% / +0.78 | 52.36% / +0.23 | 52.88% / +0.17 |
| SOL | 64.07% / +9.20 | 57.17% / +5.47 | Unavailable | Unavailable |
| XRP | 64.11% / +10.79 | 57.21% / +2.60 | Unavailable | Unavailable |
| HYPE | 73.26% / +14.66 | 63.66% / +6.09 | Unavailable | Unavailable |
| AVAX | 74.78% / +7.74 | 67.79% / +1.25 | Unavailable | Unavailable |
| TRX | 41.83% / +20.42 | 27.55% / +6.04 | Unavailable | Unavailable |
Unbracketed standard tenors are unavailable; the page does not display extrapolated surface values.
Evidence, source data and methodology
Reader summary (BF-specific claims withheld)
The 1W ATM IV comparison shows TRX changed by +20.42 volatility points, compared with ETH which changed by +0.14 volatility points.
Data quality · 7d realised volatility
All assets have a recorded maximum-gap limit of 60 minutes. Availability and option-tenor support are separate checks.
| Asset | RV availability | Coverage status | Observed coverage | Minimum coverage | Largest gap | Gap limit |
|---|---|---|---|---|---|---|
| BTC | Available | complete | 100.00% | 97% | 0 min | 60 min |
| ETH | Available | complete | 100.00% | 99.5% | 0 min | 60 min |
| SOL | Available | complete | 100.00% | 99.5% | 0 min | 60 min |
| XRP | Available | complete | 100.00% | 99.5% | 0 min | 60 min |
| HYPE | Available | complete | 100.00% | 99.5% | 0 min | 60 min |
| AVAX | Available | complete | 100.00% | 99.5% | 0 min | 60 min |
| TRX | Available | complete | 100.00% | 99.5% | 0 min | 60 min |
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.