{ "schemaVersion": 1, "currency": "ALTS", "reportDate": "2026-09-23", "generatedAt": "2026-09-23T19:22:27+00:00", "currentSnapshotAt": "2026-09-23T19:20:00+00:00", "comparisonCutoffAt": "2026-09-23T19:20:00+00:00", "headline": "Altcoin options split as XRP volatility rises and HYPE compresses", "standfirst": "Altcoin options diverged over the 24-hour window: XRP one-week ATM IV rose 5.52 volatility points to 84.05%, while HYPE one-week ATM IV fell 4.30 volatility points to 61.70%. The resulting 9.82-point dispersion in one-week ATM IV changes was pronounced in Derivasys data. AVAX retained the highest one-week ATM IV level at 84.92%, versus TRX at 22.06%, although that level spread compressed by 1.44 volatility points to 62.86 points. One-minute realised-volatility comparisons were unavailable across the complex.", "marketSummary": "XRP one-week ATM IV rose 5.52 volatility points to 84.05%, while HYPE one-week ATM IV fell 4.30 volatility points to 61.70%, leaving a 9.82-point cross-complex dispersion in daily volatility changes.", "rows": [ { "asset": "XRP", "currentSnapshotAt": "2026-09-23T19:20:00+00:00", "previousSnapshotAt": "2026-09-22T19:20:00+00:00", "comparisonStatus": "available", "comparisonNote": null, "rejectedPreviousSnapshotAt": null, "currentListedExpiries": 5, "comparedListedExpiries": 5, "tenors": [ { "tenor": "1W", "availability": "available", "unavailableReason": null, "atmIv": { "current": 84.05, "previous": 78.53, "change": 5.52, "percentChange": 7.03 }, "rr25": { "current": 6.3, "previous": 10.06, "change": -3.76, "percentChange": -37.38 }, "bf25": { "current": 7.06, "previous": 6.96, "change": 0.1, "percentChange": 1.44 } }, { "tenor": "2W", "availability": "available", "unavailableReason": null, "atmIv": { "current": 79.73, "previous": 75.19, "change": 4.54, "percentChange": 6.04 }, "rr25": { "current": 6.49, "previous": 9.89, "change": -3.4, "percentChange": -34.38 }, "bf25": { "current": 7.03, "previous": 7.19, "change": -0.16, "percentChange": -2.23 } }, { "tenor": "1M", "availability": "available", "unavailableReason": null, "atmIv": { "current": 76.1, "previous": 72.16, "change": 3.94, "percentChange": 5.46 }, "rr25": { "current": 6.72, "previous": 9.23, "change": -2.51, "percentChange": -27.19 }, "bf25": { "current": 7.0, "previous": 7.29, "change": -0.29, "percentChange": -3.98 } }, { "tenor": "3M", "availability": "available", "unavailableReason": null, "atmIv": { "current": 70.38, "previous": 69.48, "change": 0.9, "percentChange": 1.3 }, "rr25": { "current": 7.37, "previous": 7.92, "change": -0.55, "percentChange": -6.94 }, "bf25": { "current": 6.49, "previous": 7.06, "change": -0.57, "percentChange": -8.07 } }, { "tenor": "6M", "availability": "unavailable", "unavailableReason": "The target tenor is not bracketed by listed expiries; extrapolated values are suppressed.", "atmIv": { "current": null, "previous": null, "change": null, "percentChange": null }, "rr25": { "current": null, "previous": null, "change": null, "percentChange": null }, "bf25": { "current": null, "previous": null, "change": null, "percentChange": null } }, { "tenor": "9M", "availability": "unavailable", "unavailableReason": "The target tenor is not bracketed by listed expiries; extrapolated values are suppressed.", "atmIv": { "current": null, "previous": null, "change": null, "percentChange": null }, "rr25": { "current": null, "previous": null, "change": null, "percentChange": null }, "bf25": { "current": null, "previous": null, "change": null, "percentChange": null } }, { "tenor": "1Y", "availability": "unavailable", "unavailableReason": "The target tenor is not bracketed by listed expiries; extrapolated values are suppressed.", "atmIv": { "current": null, "previous": null, "change": null, "percentChange": null }, "rr25": { "current": null, "previous": null, "change": null, "percentChange": null }, "bf25": { "current": null, "previous": null, "change": null, "percentChange": null } } ], "oneWeek": { "tenor": "1W", "availability": "available", "unavailableReason": null, "atmIv": { "current": 84.05, "previous": 78.53, "change": 5.52, "percentChange": 7.03 }, "rr25": { "current": 6.3, "previous": 10.06, "change": -3.76, "percentChange": -37.38 }, "bf25": { "current": 7.06, "previous": 6.96, "change": 0.1, "percentChange": 1.44 } }, "nearestEligibleForward": { "label": "2OCT26", "daysToExpiry": 8.528, "forward": { "current": 1.49, "previous": 1.6, "change": -0.11, "percentChange": -6.88 } }, "realisedVolatility": { "source": "canonical/XRP-USDC-INDEX (DERIBIT and OKX indexes)", "fallbackObservations": 35, "fallbackPolicy": "Missing canonical minutes use the stored Deribit index first, then the stored OKX index; 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coverage is 99.3194% with a largest gap of 228 minutes." } }, "coveragePolicy": { "version": "observed-minute-returns-v1", "minimumCoveragePercent": 99.5, "maximumMissingRunMinutes": 60, "methodology": "Each RV window qualifies independently. RV annualises the mean squared observed one-minute log return; returns spanning gaps are excluded, not interpolated or zero-filled. Partial estimates assume observed minutes are representative and may miss volatility during gaps." }, "spotUnavailableReason": null, "oneWeekAtmIvPercent": 84.05, "oneWeekIvMinus7dRvPoints": null, "oneWeekIvMinus24hRvPoints": null, "oneWeekIvMinus30dRvPoints": null }, "realisedVolatilityUnavailableReason": null }, { "asset": "HYPE", "currentSnapshotAt": "2026-09-23T19:20:00+00:00", "previousSnapshotAt": "2026-09-22T19:20:00+00:00", "comparisonStatus": "available", "comparisonNote": null, "rejectedPreviousSnapshotAt": null, "currentListedExpiries": 5, "comparedListedExpiries": 5, "tenors": [ { "tenor": "1W", "availability": "available", "unavailableReason": null, "atmIv": { "current": 61.7, "previous": 66.0, "change": -4.3, "percentChange": -6.52 }, "rr25": { "current": 2.68, "previous": 5.21, "change": -2.53, "percentChange": -48.56 }, "bf25": { "current": 3.38, "previous": 3.19, "change": 0.19, "percentChange": 5.96 } }, { "tenor": "2W", "availability": "available", "unavailableReason": null, "atmIv": { "current": 60.86, "previous": 63.56, "change": -2.7, "percentChange": -4.25 }, "rr25": { "current": 3.01, "previous": 4.39, "change": -1.38, "percentChange": -31.44 }, "bf25": { "current": 3.51, "previous": 3.45, "change": 0.06, "percentChange": 1.74 } }, { "tenor": "1M", "availability": "available", "unavailableReason": null, "atmIv": { "current": 60.29, "previous": 61.55, "change": -1.26, "percentChange": -2.05 }, "rr25": { "current": 3.21, "previous": 3.74, "change": -0.53, "percentChange": -14.17 }, "bf25": { "current": 3.67, "previous": 4.06, "change": -0.39, "percentChange": -9.61 } }, { "tenor": "3M", "availability": "available", "unavailableReason": null, "atmIv": { "current": 58.98, "previous": 60.3, "change": -1.32, "percentChange": -2.19 }, "rr25": { "current": 4.48, "previous": 3.95, "change": 0.53, "percentChange": 13.42 }, "bf25": { "current": 3.94, "previous": 3.49, "change": 0.45, "percentChange": 12.89 } }, { "tenor": "6M", "availability": "unavailable", "unavailableReason": "The target tenor is not bracketed by listed expiries; 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RV annualises the mean squared observed one-minute log return; returns spanning gaps are excluded, not interpolated or zero-filled. Partial estimates assume observed minutes are representative and may miss volatility during gaps." }, "spotUnavailableReason": null, "oneWeekAtmIvPercent": 61.7, "oneWeekIvMinus7dRvPoints": null, "oneWeekIvMinus24hRvPoints": null, "oneWeekIvMinus30dRvPoints": null }, "realisedVolatilityUnavailableReason": null }, { "asset": "AVAX", "currentSnapshotAt": "2026-09-23T19:20:00+00:00", "previousSnapshotAt": "2026-09-22T19:20:00+00:00", "comparisonStatus": "available", "comparisonNote": null, "rejectedPreviousSnapshotAt": null, "currentListedExpiries": 5, "comparedListedExpiries": 5, "tenors": [ { "tenor": "1W", "availability": "available", "unavailableReason": null, "atmIv": { "current": 84.92, "previous": 83.28, "change": 1.64, "percentChange": 1.97 }, "rr25": { "current": 5.66, "previous": 4.98, "change": 0.68, "percentChange": 13.65 }, "bf25": { "current": 6.8, "previous": 6.52, "change": 0.28, "percentChange": 4.29 } }, { "tenor": "2W", "availability": "available", "unavailableReason": null, "atmIv": { "current": 79.97, "previous": 77.8, "change": 2.17, "percentChange": 2.79 }, "rr25": { "current": 5.2, "previous": 5.26, "change": -0.06, "percentChange": -1.14 }, "bf25": { "current": 6.56, "previous": 6.38, "change": 0.18, "percentChange": 2.82 } }, { "tenor": "1M", "availability": "available", "unavailableReason": null, "atmIv": { "current": 76.25, "previous": 73.32, "change": 2.93, "percentChange": 4.0 }, "rr25": { "current": 4.69, "previous": 5.74, "change": -1.05, "percentChange": -18.29 }, "bf25": { "current": 6.23, "previous": 6.08, "change": 0.15, "percentChange": 2.47 } }, { "tenor": "3M", "availability": "available", "unavailableReason": null, "atmIv": { "current": 72.48, "previous": 70.39, "change": 2.09, "percentChange": 2.97 }, "rr25": { "current": 5.2, "previous": 6.2, "change": -1.0, "percentChange": -16.13 }, "bf25": { "current": 5.92, "previous": 5.62, "change": 0.3, "percentChange": 5.34 } }, { "tenor": "6M", "availability": "unavailable", "unavailableReason": "The target tenor is not bracketed by listed expiries; 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RV annualises the mean squared observed one-minute log return; returns spanning gaps are excluded, not interpolated or zero-filled. Partial estimates assume observed minutes are representative and may miss volatility during gaps." }, "spotUnavailableReason": null, "oneWeekAtmIvPercent": 84.92, "oneWeekIvMinus7dRvPoints": null, "oneWeekIvMinus24hRvPoints": null, "oneWeekIvMinus30dRvPoints": null }, "realisedVolatilityUnavailableReason": null }, { "asset": "TRX", "currentSnapshotAt": "2026-09-23T19:20:00+00:00", "previousSnapshotAt": "2026-09-22T19:20:00+00:00", "comparisonStatus": "available", "comparisonNote": null, "rejectedPreviousSnapshotAt": null, "currentListedExpiries": 5, "comparedListedExpiries": 5, "tenors": [ { "tenor": "1W", "availability": "available", "unavailableReason": null, "atmIv": { "current": 22.06, "previous": 18.98, "change": 3.08, "percentChange": 16.23 }, "rr25": { "current": 0.43, "previous": 0.29, "change": 0.14, "percentChange": 48.28 }, "bf25": { "current": 2.19, "previous": 2.21, "change": -0.02, "percentChange": -0.9 } }, { "tenor": "2W", "availability": "available", "unavailableReason": null, "atmIv": { "current": 22.25, "previous": 20.05, "change": 2.2, "percentChange": 10.97 }, "rr25": { "current": 0.61, "previous": 0.08, "change": 0.53, "percentChange": 662.5 }, "bf25": { "current": 2.17, "previous": 2.22, "change": -0.05, "percentChange": -2.25 } }, { "tenor": "1M", "availability": "available", "unavailableReason": null, "atmIv": { "current": 22.46, "previous": 21.19, "change": 1.27, "percentChange": 5.99 }, "rr25": { "current": 0.75, "previous": 0.06, "change": 0.69, "percentChange": 1150.0 }, "bf25": { "current": 2.13, "previous": 2.22, "change": -0.09, "percentChange": -4.05 } }, { "tenor": "3M", "availability": "available", "unavailableReason": null, "atmIv": { "current": 22.47, "previous": 21.95, "change": 0.52, "percentChange": 2.37 }, "rr25": { "current": 0.15, "previous": -0.79, "change": 0.94, "percentChange": 118.99 }, "bf25": { "current": 2.55, "previous": 2.49, "change": 0.06, "percentChange": 2.41 } }, { "tenor": "6M", "availability": "unavailable", "unavailableReason": "The target tenor is not bracketed by listed expiries; 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