{
  "schemaVersion": 1,
  "currency": "ALTS",
  "reportDate": "2026-08-31",
  "generatedAt": "2026-08-31T21:03:19+00:00",
  "currentSnapshotAt": "2026-08-31T20:58:00+00:00",
  "comparisonCutoffAt": "2026-08-31T20:58:00+00:00",
  "headline": "AVAX leads the comparable altcoin volatility moves",
  "standfirst": "XRP forward -0.71% and one-week ATM IV +0.30 points; HYPE forward +3.31% and one-week ATM IV -4.99 points; AVAX forward -2.17% and one-week ATM IV -7.29 points; TRX forward -2.94% and one-week ATM IV -4.19 points.",
  "marketSummary": "4 of four markets have a like-for-like 24-hour baseline. Current levels are retained for every live asset; missing changes are never treated as zero.",
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      "comparisonNote": null,
      "rejectedPreviousSnapshotAt": null,
      "currentListedExpiries": 6,
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            "change": 0.3,
            "percentChange": 0.43
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          "rr25": {
            "current": 2.51,
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            "change": 2.6,
            "percentChange": 2888.89
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          "bf25": {
            "current": 2.81,
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            "change": -1.4,
            "percentChange": -33.25
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        },
        {
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            "percentChange": 2.4
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        },
        {
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            "percentChange": 2.65
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        {
          "tenor": "6M",
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        },
        {
          "tenor": "9M",
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        },
        {
          "tenor": "1Y",
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          "rr25": {
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      ],
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      },
      "nearestEligibleForward": {
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          "current": 1.39,
          "previous": 1.4,
          "change": -0.01,
          "percentChange": -0.71
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      }
    },
    {
      "asset": "HYPE",
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            "percentChange": 17.61
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        },
        {
          "tenor": "2W",
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            "percentChange": -5.98
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        },
        {
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          "bf25": {
            "current": 3.61,
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            "percentChange": 0.56
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        },
        {
          "tenor": "3M",
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            "current": 67.21,
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            "change": -1.7,
            "percentChange": -2.47
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          "rr25": {
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          },
          "bf25": {
            "current": 3.19,
            "previous": 4.1,
            "change": -0.91,
            "percentChange": -22.2
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        },
        {
          "tenor": "6M",
          "atmIv": {
            "current": 67.11,
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            "change": -1.35,
            "percentChange": -1.97
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          "rr25": {
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            "change": 0.08,
            "percentChange": 2.15
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            "current": 3.08,
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            "change": -1.14,
            "percentChange": -27.01
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        },
        {
          "tenor": "9M",
          "atmIv": {
            "current": 67.07,
            "previous": 68.3,
            "change": -1.23,
            "percentChange": -1.8
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          "rr25": {
            "current": 3.84,
            "previous": 3.59,
            "change": 0.25,
            "percentChange": 6.96
          },
          "bf25": {
            "current": 3.06,
            "previous": 4.29,
            "change": -1.23,
            "percentChange": -28.67
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        },
        {
          "tenor": "1Y",
          "atmIv": {
            "current": 67.06,
            "previous": 68.23,
            "change": -1.17,
            "percentChange": -1.71
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          "rr25": {
            "current": 3.86,
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            "change": 0.33,
            "percentChange": 9.35
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          "bf25": {
            "current": 3.02,
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      ],
      "oneWeek": {
        "tenor": "1W",
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          "change": -4.99,
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      },
      "nearestEligibleForward": {
        "label": "4SEP26",
        "daysToExpiry": 3.46,
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      }
    },
    {
      "asset": "AVAX",
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      "currentListedExpiries": 6,
      "comparedListedExpiries": 5,
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          "tenor": "1W",
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        },
        {
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        },
        {
          "tenor": "1M",
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        },
        {
          "tenor": "3M",
          "atmIv": {
            "current": 56.18,
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          "rr25": {
            "current": 3.0,
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          "bf25": {
            "current": 5.1,
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        },
        {
          "tenor": "6M",
          "atmIv": {
            "current": 55.92,
            "previous": 56.07,
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          "rr25": {
            "current": 3.05,
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          "bf25": {
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        },
        {
          "tenor": "9M",
          "atmIv": {
            "current": 55.83,
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          "rr25": {
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        },
        {
          "tenor": "1Y",
          "atmIv": {
            "current": 55.79,
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          "rr25": {
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      ],
      "oneWeek": {
        "tenor": "1W",
        "atmIv": {
          "current": 57.77,
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          "percentChange": -6.85
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      },
      "nearestEligibleForward": {
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        "daysToExpiry": 3.46,
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          "current": 7.21,
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          "change": -0.16,
          "percentChange": -2.17
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      }
    },
    {
      "asset": "TRX",
      "currentSnapshotAt": "2026-08-31T20:58:00+00:00",
      "previousSnapshotAt": "2026-08-30T21:04:00+00:00",
      "comparisonStatus": "available",
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      "rejectedPreviousSnapshotAt": null,
      "currentListedExpiries": 6,
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          "tenor": "1W",
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          "bf25": {
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        },
        {
          "tenor": "2W",
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            "current": 18.06,
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          "rr25": {
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            "percentChange": 195.24
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          "bf25": {
            "current": 2.82,
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            "percentChange": 46.11
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        },
        {
          "tenor": "1M",
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            "current": 17.65,
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          "rr25": {
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          "bf25": {
            "current": 3.1,
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        },
        {
          "tenor": "3M",
          "atmIv": {
            "current": 18.26,
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          "rr25": {
            "current": -2.53,
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          "bf25": {
            "current": 3.19,
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            "percentChange": 44.34
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        },
        {
          "tenor": "6M",
          "atmIv": {
            "current": 18.4,
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          "rr25": {
            "current": -2.76,
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          "bf25": {
            "current": 3.22,
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            "percentChange": 43.75
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        },
        {
          "tenor": "9M",
          "atmIv": {
            "current": 18.45,
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          "rr25": {
            "current": -2.82,
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          "bf25": {
            "current": 3.22,
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        },
        {
          "tenor": "1Y",
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            "current": 18.48,
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          "rr25": {
            "current": -2.86,
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          "bf25": {
            "current": 3.22,
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      ],
      "oneWeek": {
        "tenor": "1W",
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          "current": 19.99,
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        "rr25": {
          "current": 2.95,
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        "bf25": {
          "current": 2.45,
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      },
      "nearestEligibleForward": {
        "label": "4SEP26",
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          "percentChange": -2.94
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      }
    }
  ],
  "newsContext": {
    "outcome": "No sufficiently relevant altcoin-specific context identified",
    "summary": "No canonical XRP, HYPE, AVAX or TRX event qualified inside the comparison window.",
    "events": []
  },
  "methodology": {
    "source": "Stored Derivasys SVI surfaces",
    "comparison": "Latest successful snapshot at or before the common cutoff versus the nearest successful snapshot 24 hours earlier, within a three-hour tolerance.",
    "availability": "Current levels remain visible when a 24-hour baseline does not yet exist; changes stay null rather than being inferred from a shorter window."
  },
  "comparedListedExpiries": 20,
  "summaryMetrics": {
    "basis": "Equal-weight average across assets with a valid 24-hour baseline",
    "unit": "volatility points",
    "atmIvChange": -4.04,
    "rr25Change": 1.17,
    "bf25Change": -0.1
  },
  "newsEvidence": {
    "schemaVersion": 1,
    "source": "local-news-mcp",
    "generatedAt": "2026-08-31T20:58:00+00:00",
    "window": {
      "startAt": "2026-08-30T20:58:00+00:00",
      "endAt": "2026-08-31T20:58:00+00:00",
      "endExclusive": true
    },
    "coverage": {
      "configuredSources": 1,
      "successfulSources": 1,
      "failedSources": 0
    },
    "selection": {
      "feedsQueried": 1,
      "publishersQueried": 3,
      "feedEntriesScanned": 41,
      "articlesPassingTimeFilter": 4,
      "articlesPassingSourceRelevanceRules": 3,
      "articlesPassingSelectionThreshold": 0,
      "storiesSelected": 0,
      "selectedPublishers": 0,
      "maximumStories": 3,
      "maximumStoriesPerPublisher": 2,
      "minimumSelectionScore": 0
    },
    "items": []
  },
  "researchDossier": "/Users/seangordon/code/report-publisher-harness/runs/2026-08-31-20260831T205809Z/editorial/dossier.json"
}