{ "schemaVersion": 3, "reportDate": "2026-09-01", "generatedAt": "2026-09-01T22:32:50+00:00", "currentSnapshotAt": "2026-09-01T22:27:00+00:00", "previousSnapshotAt": "2026-08-31T22:28:00+00:00", "sourceSnapshots": { "current": { "id": 238090, "timestamp": "2026-09-01T22:27:00+00:00" }, "previous": { "id": 228065, "timestamp": "2026-08-31T22:28:00+00:00" } }, "windowHours": 23.98, "currency": "SOL", "methodology": { "source": "Derivasys proprietary historical SVI surface and canonical SOL index databases", "comparison": "Nearest successful surface snapshots approximately 24 hours apart", "rrConvention": "25-delta call IV minus 25-delta put IV", "bfConvention": "Average 25-delta wing IV minus ATM forward IV", "greeks": "Black forward Greeks for a normalized one-SOL ATM-forward call, zero rate, fitted SVI IV", "commentary": "Metrics and takeaways are deterministic. Daily headlines and introductions may be model-assisted, constrained to the same stored facts; weekly prose is deterministic.", "fixedTenors": "Fixed-tenor measures are interpolated independently at 1W, 2W, 1M, 3M, 6M, 9M and 1Y; headline rankings prioritise 1W, 2W, 1M, 3M, 6M and 1Y.", "smileReconstruction": "Listed-expiry smiles are reconstructed from stored SVI total-variance parameters on a fixed log-moneyness grid.", "ultraShortExpiry": "Expiries with fewer than 2 full days remaining stay in detailed tables but are excluded from headline rankings. Settlement proximity, time decay, changing liquidity and fewer quotes can exaggerate their changes.", "causalClaims": "The report describes observed surface and realised-volatility changes only and does not infer unsupported market drivers, flows or forecasts.", "realisedVolatility": "Annualised root-mean-square of one-minute canonical SOL-USD index log returns using a 365-day basis; all windows end at the current snapshot." }, "realisedVolatility": { "source": "canonical/SOL-USDC-INDEX (DERIBIT and OKX indexes)", "fallbackObservations": 0, "fallbackPolicy": "Missing canonical minutes use the stored Deribit index first, then the stored OKX index; canonical bars always take precedence.", "samplingInterval": "1 minute", "annualizationBasis": "365 days", "windowEnd": "2026-09-01T22:27:00+00:00", "spotMove24hPercent": -3.66, "rv24hPercent": 55.72, "rv7dPercent": 66.8, "rv30dPercent": 63.28, "observations": { "24h": 1440, "7d": 10080, "30d": 43200 }, "oneWeekAtmIvPercent": 55.4, "oneWeekIvMinus7dRvPoints": -11.4, "oneWeekIvMinus24hRvPoints": -0.32, "oneWeekIvMinus30dRvPoints": -7.88 }, "fitQuality": { "currentObjective": 0.01932609, "previousObjective": 0.04647933, "currentLiveError": 15.93119943, "previousLiveError": 25.21251658 }, "coverage": { "currentListedExpiries": 6, "previousListedExpiries": 6, "comparedListedExpiries": 5, "addedExpiries": [ "3SEP26" ], "removedExpiries": [ "1SEP26" ], "fixedTenors": [ "1W", "2W", "1M", "3M", "6M", "9M", "1Y" ] }, "commentary": { "source": "codex", "model": "gpt-5.6-terra", "headline": "Sol\u2019s front end leads an exceptional volatility reset", "executiveSummary": "SOL 1W ATM IV fell 10.73 volatility points to 55.40%, with front-end ATM IV down 9.62 volatility points and the curve becoming less inverted.", "evidenceIds": [ "largest-standard-tenor", "front-atm", "realised-vol", "rr25", "bf25" ], "newsSummary": "Decrypt reported that DeFi Development Corp was considering a $20 million capital raise to acquire more SOL. The event\u2019s completed reaction windows show timed association only.", "marketContextSummary": "The retained SOL financing report does not establish a direct explanation for the broad volatility reset.", "marketContext": [ { "title": "Solana treasury report and volatility reset", "explanation": "SOL spot and ATM IV moved over completed reaction windows after the report, but the reaction is observational and has low causal confidence; it does not prove a link to the report-window repricing.", "relationship": "no-clear-link", "confidence": "low", "surfaceEvidenceIds": [ "largest-standard-tenor", "front-atm" ], "newsEvidenceIds": [ "c3755be9-bca0-43ec-8ebb-1795ee3be737" ] } ], "newsEvidenceIds": [ "c3755be9-bca0-43ec-8ebb-1795ee3be737" ], "takeaways": [ { "id": "realised-vol", "label": "Implied versus realised", "text": "At the 22:27 UTC cutoff, 1W ATM IV was 55.40%, 11.40 volatility points below seven-day realised volatility of 66.80%; 24-hour realised volatility was 55.72% and 30-day realised volatility was 63.28%." }, { "id": "front-atm", "label": "Front end", "text": "Front-end ATM IV decreased, averaging -9.62 volatility points to 55.37% across 1W, 2W and 1M." }, { "id": "back-atm", "label": "Long end", "text": "Long-dated ATM IV decreased, averaging -3.93 volatility points to 54.88% across 6M and 1Y." }, { "id": "rr25", "label": "Skew", "text": "RR25 moved towards puts, averaging -1.74 volatility points to 1.61% across the six headline tenors." }, { "id": "bf25", "label": "Convexity", "text": "BF25 decreased, averaging -0.35 volatility points to 4.61% across the six headline tenors." }, { "id": "largest-standard-tenor", "label": "Largest standard-tenor move", "text": "The largest standard-tenor ATM IV move was -10.73 volatility points at 1W, to 55.40%.", "tenor": "1W", "value": -10.73 } ] }, "newsEvidence": { "schemaVersion": 1, "source": "local-news-mcp", "generatedAt": "2026-09-01T22:27:00+00:00", "window": { "startAt": "2026-08-31T22:28:00+00:00", "endAt": "2026-09-01T22:27:00+00:00", "endExclusive": true }, "collectorWindow": { "startAt": "2026-08-31T22:28:00+00:00", "endAt": "2026-09-01T22:27:00+00:00", "endExclusive": true }, "coverage": { "configuredSources": 1, "successfulSources": 1, "failedSources": 0 }, "selection": { "feedsQueried": 1, "publishersQueried": 4, "feedEntriesScanned": 41, "articlesPassingTimeFilter": 5, "articlesPassingSourceRelevanceRules": 5, "articlesPassingSelectionThreshold": 1, "storiesSelected": 0, "selectedPublishers": 0, "maximumStories": 3, "maximumStoriesPerPublisher": 2, "minimumSelectionScore": 0, "eventsSelected": 0 }, "items": [], "events": [] }, "newsContext": { "outcome": "No sufficiently relevant context identified", "highest_causal_confidence": "low", "section_heading": "No sufficiently relevant context identified", "events": [] }, "marketRead": { "text": "1W ATM IV fell 10.73 volatility points to 55.40%, an exceptional move at the 100th percentile. At the cutoff, realised volatility measured 55.72% over 24 hours, 66.80% over seven days and 63.28% over 30 days. Front-end ATM IV averaged 55.37%, -9.62 points from the prior snapshot, while the long end averaged 54.88%, -3.93 points. The 1Y-minus-1W ATM slope became less inverted by 7.02 points to -0.54 points. 2W RR25 moved 2.84 volatility points toward puts to 0.32%, leaving calls richer than puts. 1W BF25 fell 1.46 volatility points to 3.16%. The nearest eligible forward, 4SEP26, fell $3.79 (-3.67%) to $99.53. No sufficiently relevant context identified; the strongest assessed relationship has low causal confidence.", "wordCount": 113, "source": "deterministic structured report facts", "evidenceFields": [ "summaryMetrics.largestAtmMove", "realisedVolatility.rv24hPercent", "realisedVolatility.rv7dPercent", "realisedVolatility.rv30dPercent", "summaryMetrics.frontEndAverageAtm", "summaryMetrics.longEndAverageAtm", "summaryMetrics.oneYearMinusOneWeekAtmSlope", "summaryMetrics.largestRr25Move", "summaryMetrics.largestBf25Move", "summaryMetrics.nearestEligibleForwardMove", "newsContext.outcome", "newsContext.highest_causal_confidence" ] }, "facts": [ { "id": "realised-vol", "label": "Implied versus realised", "text": "At the 22:27 UTC cutoff, 1W ATM IV was 55.40%, 11.40 volatility points below seven-day realised volatility of 66.80%; 24-hour realised volatility was 55.72% and 30-day realised volatility was 63.28%." }, { "id": "front-atm", "label": "Front end", "text": "Front-end ATM IV decreased, averaging -9.62 volatility points to 55.37% across 1W, 2W and 1M." }, { "id": "back-atm", "label": "Long end", "text": "Long-dated ATM IV decreased, averaging -3.93 volatility points to 54.88% across 6M and 1Y." }, { "id": "rr25", "label": "Skew", "text": "RR25 moved towards puts, averaging -1.74 volatility points to 1.61% across the six headline tenors." }, { "id": "bf25", "label": "Convexity", "text": "BF25 decreased, averaging -0.35 volatility points to 4.61% across the six headline tenors." }, { "id": "largest-standard-tenor", "label": "Largest standard-tenor move", "text": "The largest standard-tenor ATM IV move was -10.73 volatility points at 1W, to 55.40%.", "tenor": "1W", "value": -10.73 } ], "summaryMetrics": { "basis": "Fixed-tenor endpoint comparison", "unit": "volatility points", "atmIvChange": -6.95, "rr25Change": -1.74, "bf25Change": -0.35, "largestAtmMove": { "tenor": "1W", "current": 55.4, "previous": 66.13, "change": -10.73, "historicalSignificance": { "absoluteMove": 10.73, "movePercentile30d": 100.0, "movePercentileFullHistory": 100.0, "currentLevelPercentileFullHistory": 20.0, "classificationPercentile": 100.0, "label": "exceptional", "observations30d": 4, "observationsFullHistory": 4, "levelObservationsFullHistory": 5 } }, "frontEndAverageAtm": { "current": 55.37, "previous": 64.99, "change": -9.62 }, "longEndAverageAtm": { "current": 54.88, "previous": 58.81, "change": -3.93 }, "oneYearMinusOneWeekAtmSlope": { "current": -0.54, "previous": -7.56, "change": 7.02 }, "largestRr25Move": { "tenor": "2W", "current": 0.32, "previous": 3.16, "change": -2.84, "historicalSignificance": { "absoluteMove": 2.84, "movePercentile30d": 50.0, "movePercentileFullHistory": 50.0, "currentLevelPercentileFullHistory": 40.0, "classificationPercentile": 50.0, "label": "routine", "observations30d": 4, "observationsFullHistory": 4, "levelObservationsFullHistory": 5 }, "direction": "toward puts", "currentSign": "call-rich" }, "largestBf25Move": { "tenor": "1W", "current": 3.16, "previous": 4.62, "change": -1.46, "historicalSignificance": { "absoluteMove": 1.46, "movePercentile30d": 75.0, "movePercentileFullHistory": 75.0, "currentLevelPercentileFullHistory": 20.0, "classificationPercentile": 75.0, "label": "notable", "observations30d": 4, "observationsFullHistory": 4, "levelObservationsFullHistory": 5 } }, "nearestEligibleForwardMove": { "label": "4SEP26", "daysToExpiry": 2.398, "current": 99.53, "previous": 103.32, "change": -3.79, "percentChange": -3.67 } }, "tenors": [ { "tenor": "1W", "targetExpiry": 1788906420435, "availability": "available", "unavailableReason": null, "atmIv": { "current": 55.4, "previous": 66.13, "change": -10.73, "percentChange": -16.23 }, "rr25": { "current": -0.5, "previous": 1.4, "change": -1.9, "percentChange": -135.71 }, "bf25": { "current": 3.16, "previous": 4.62, "change": -1.46, "percentChange": -31.6 }, "historicalSignificance": { "atmIv": { "absoluteMove": 10.73, "movePercentile30d": 100.0, "movePercentileFullHistory": 100.0, "currentLevelPercentileFullHistory": 20.0, "classificationPercentile": 100.0, "label": "exceptional", "observations30d": 4, "observationsFullHistory": 4, "levelObservationsFullHistory": 5 }, "rr25": { "absoluteMove": 1.9, "movePercentile30d": 25.0, "movePercentileFullHistory": 25.0, "currentLevelPercentileFullHistory": 20.0, "classificationPercentile": 25.0, "label": "routine", "observations30d": 4, "observationsFullHistory": 4, "levelObservationsFullHistory": 5 }, "bf25": { "absoluteMove": 1.46, "movePercentile30d": 75.0, "movePercentileFullHistory": 75.0, "currentLevelPercentileFullHistory": 20.0, "classificationPercentile": 75.0, "label": "notable", "observations30d": 4, "observationsFullHistory": 4, "levelObservationsFullHistory": 5 } } }, { "tenor": "2W", "targetExpiry": 1789511220435, "availability": "available", "unavailableReason": null, "atmIv": { "current": 55.35, "previous": 65.09, "change": -9.74, "percentChange": -14.96 }, "rr25": { "current": 0.32, "previous": 3.16, "change": -2.84, "percentChange": -89.87 }, "bf25": { "current": 3.68, "previous": 4.6, "change": -0.92, "percentChange": -20.0 }, "historicalSignificance": { "atmIv": { "absoluteMove": 9.74, "movePercentile30d": 75.0, "movePercentileFullHistory": 75.0, "currentLevelPercentileFullHistory": 20.0, "classificationPercentile": 75.0, "label": "notable", "observations30d": 4, "observationsFullHistory": 4, "levelObservationsFullHistory": 5 }, "rr25": { "absoluteMove": 2.84, "movePercentile30d": 50.0, "movePercentileFullHistory": 50.0, "currentLevelPercentileFullHistory": 40.0, "classificationPercentile": 50.0, "label": "routine", "observations30d": 4, "observationsFullHistory": 4, "levelObservationsFullHistory": 5 }, "bf25": { "absoluteMove": 0.92, "movePercentile30d": 50.0, "movePercentileFullHistory": 50.0, "currentLevelPercentileFullHistory": 20.0, "classificationPercentile": 50.0, "label": "routine", "observations30d": 4, "observationsFullHistory": 4, "levelObservationsFullHistory": 5 } } }, { "tenor": "1M", "targetExpiry": 1790893620435, "availability": "available", "unavailableReason": null, "atmIv": { "current": 55.36, "previous": 63.74, "change": -8.38, "percentChange": -13.15 }, "rr25": { "current": 1.38, "previous": 4.2, "change": -2.82, "percentChange": -67.14 }, "bf25": { "current": 4.5, "previous": 4.82, "change": -0.32, "percentChange": -6.64 }, "historicalSignificance": { "atmIv": { "absoluteMove": 8.38, "movePercentile30d": 75.0, "movePercentileFullHistory": 75.0, "currentLevelPercentileFullHistory": 20.0, "classificationPercentile": 75.0, "label": "notable", "observations30d": 4, "observationsFullHistory": 4, "levelObservationsFullHistory": 5 }, "rr25": { "absoluteMove": 2.82, "movePercentile30d": 75.0, "movePercentileFullHistory": 75.0, "currentLevelPercentileFullHistory": 40.0, "classificationPercentile": 75.0, "label": "notable", "observations30d": 4, "observationsFullHistory": 4, "levelObservationsFullHistory": 5 }, "bf25": { "absoluteMove": 0.32, "movePercentile30d": 0.0, "movePercentileFullHistory": 0.0, "currentLevelPercentileFullHistory": 20.0, "classificationPercentile": 0.0, "label": "routine", "observations30d": 4, "observationsFullHistory": 4, "levelObservationsFullHistory": 5 } } }, { "tenor": "3M", "targetExpiry": 1796164020435, "availability": "available", "unavailableReason": null, "atmIv": { "current": 55.0, "previous": 60.01, "change": -5.01, "percentChange": -8.35 }, "rr25": { "current": 2.58, "previous": 3.86, "change": -1.28, "percentChange": -33.16 }, "bf25": { "current": 5.28, "previous": 5.16, "change": 0.12, "percentChange": 2.33 }, "historicalSignificance": { "atmIv": { "absoluteMove": 5.01, "movePercentile30d": 100.0, "movePercentileFullHistory": 100.0, "currentLevelPercentileFullHistory": 20.0, "classificationPercentile": 100.0, "label": "exceptional", "observations30d": 4, "observationsFullHistory": 4, "levelObservationsFullHistory": 5 }, "rr25": { "absoluteMove": 1.28, "movePercentile30d": 100.0, "movePercentileFullHistory": 100.0, "currentLevelPercentileFullHistory": 20.0, "classificationPercentile": 100.0, "label": "exceptional", "observations30d": 4, "observationsFullHistory": 4, "levelObservationsFullHistory": 5 }, "bf25": { "absoluteMove": 0.12, "movePercentile30d": 0.0, "movePercentileFullHistory": 0.0, "currentLevelPercentileFullHistory": 40.0, "classificationPercentile": 0.0, "label": "routine", "observations30d": 4, "observationsFullHistory": 4, "levelObservationsFullHistory": 5 } } }, { "tenor": "6M", "targetExpiry": 1804026420435, "availability": "available", "unavailableReason": null, "atmIv": { "current": 54.91, "previous": 59.06, "change": -4.15, "percentChange": -7.03 }, "rr25": { "current": 2.87, "previous": 3.77, "change": -0.9, "percentChange": -23.87 }, "bf25": { "current": 5.47, "previous": 5.25, "change": 0.22, "percentChange": 4.19 }, "historicalSignificance": { "atmIv": { "absoluteMove": 4.15, "movePercentile30d": 100.0, "movePercentileFullHistory": 100.0, "currentLevelPercentileFullHistory": 20.0, "classificationPercentile": 100.0, "label": "exceptional", "observations30d": 4, "observationsFullHistory": 4, "levelObservationsFullHistory": 5 }, "rr25": { "absoluteMove": 0.9, "movePercentile30d": 50.0, "movePercentileFullHistory": 50.0, "currentLevelPercentileFullHistory": 20.0, "classificationPercentile": 50.0, "label": "routine", "observations30d": 4, "observationsFullHistory": 4, "levelObservationsFullHistory": 5 }, "bf25": { "absoluteMove": 0.22, "movePercentile30d": 50.0, "movePercentileFullHistory": 50.0, "currentLevelPercentileFullHistory": 40.0, "classificationPercentile": 50.0, "label": "routine", "observations30d": 4, "observationsFullHistory": 4, "levelObservationsFullHistory": 5 } } }, { "tenor": "9M", "targetExpiry": 1811888820435, "availability": "available", "unavailableReason": null, "atmIv": { "current": 54.88, "previous": 58.74, "change": -3.86, "percentChange": -6.57 }, "rr25": { "current": 2.97, "previous": 3.74, "change": -0.77, "percentChange": -20.59 }, "bf25": { "current": 5.53, "previous": 5.28, "change": 0.25, "percentChange": 4.73 }, "historicalSignificance": { "atmIv": { "absoluteMove": 3.86, "movePercentile30d": 100.0, "movePercentileFullHistory": 100.0, "currentLevelPercentileFullHistory": 20.0, "classificationPercentile": 100.0, "label": "exceptional", "observations30d": 4, "observationsFullHistory": 4, "levelObservationsFullHistory": 5 }, "rr25": { "absoluteMove": 0.77, "movePercentile30d": 50.0, "movePercentileFullHistory": 50.0, "currentLevelPercentileFullHistory": 20.0, "classificationPercentile": 50.0, "label": "routine", "observations30d": 4, "observationsFullHistory": 4, "levelObservationsFullHistory": 5 }, "bf25": { "absoluteMove": 0.25, "movePercentile30d": 50.0, "movePercentileFullHistory": 50.0, "currentLevelPercentileFullHistory": 40.0, "classificationPercentile": 50.0, "label": "routine", "observations30d": 4, "observationsFullHistory": 4, "levelObservationsFullHistory": 5 } } }, { "tenor": "1Y", "targetExpiry": 1819837620435, "availability": "available", "unavailableReason": null, "atmIv": { "current": 54.86, "previous": 58.57, "change": -3.71, "percentChange": -6.33 }, "rr25": { "current": 3.02, "previous": 3.73, "change": -0.71, "percentChange": -19.03 }, "bf25": { "current": 5.58, "previous": 5.31, "change": 0.27, "percentChange": 5.08 }, "historicalSignificance": { "atmIv": { "absoluteMove": 3.71, "movePercentile30d": 100.0, "movePercentileFullHistory": 100.0, "currentLevelPercentileFullHistory": 20.0, "classificationPercentile": 100.0, "label": "exceptional", "observations30d": 4, "observationsFullHistory": 4, "levelObservationsFullHistory": 5 }, "rr25": { "absoluteMove": 0.71, "movePercentile30d": 50.0, "movePercentileFullHistory": 50.0, "currentLevelPercentileFullHistory": 20.0, "classificationPercentile": 50.0, "label": "routine", "observations30d": 4, "observationsFullHistory": 4, "levelObservationsFullHistory": 5 }, "bf25": { "absoluteMove": 0.27, "movePercentile30d": 50.0, "movePercentileFullHistory": 50.0, "currentLevelPercentileFullHistory": 40.0, "classificationPercentile": 50.0, "label": "routine", "observations30d": 4, "observationsFullHistory": 4, "levelObservationsFullHistory": 5 } } } ], "listedExpiries": [ { "label": "2SEP26", "expiry": 1788336000000, "tauYears": 0.0010902, "daysToExpiry": 0.398, "expiryClassification": "ultra-short", "rankingEligible": false, "forward": { "current": 99.53, "previous": 103.32, "change": -3.79, "percentChange": -3.67 }, "atmIv": { "current": 57.34, "previous": 69.94, "change": -12.6, "percentChange": -18.02 }, "rr25": { "current": -0.33, "previous": -5.14, "change": 4.81, "percentChange": 93.58 }, "bf25": { "current": 0.77, "previous": 5.1, "change": -4.33, "percentChange": -84.9 }, "svi": { "a": { "current": -0.0159, "previous": -0.082, "change": 0.0661, "percentChange": 80.6 }, "b": { "current": 0.0308, "previous": 0.1602, "change": -0.1294, "percentChange": -80.75 }, "rho": { "current": 0.0597, "previous": -0.1151, "change": 0.1748, "percentChange": 151.89 }, "m": { "current": 0.0345, "previous": -0.0454, "change": 0.0799, "percentChange": 176.05 }, "sigma": { "current": 0.5282, "previous": 0.5269, "change": 0.0013, "percentChange": 0.25 } }, "smile": { "logMoneyness": [ -0.3, -0.285, -0.27, -0.255, -0.24, -0.225, -0.21, -0.195, -0.18, -0.165, -0.15, -0.135, -0.12, -0.105, -0.09, -0.075, -0.06, -0.045, -0.03, -0.015, 0.0, 0.015, 0.03, 0.045, 0.06, 0.075, 0.09, 0.105, 0.12, 0.135, 0.15, 0.165, 0.18, 0.195, 0.21, 0.225, 0.24, 0.255, 0.27, 0.285, 0.3 ], "current": [ 159.2232, 152.8773, 146.5141, 140.1416, 133.7694, 127.4089, 121.074, 114.782, 108.5535, 102.4142, 96.3957, 90.5372, 84.8875, 79.5068, 74.4693, 69.8652, 65.8008, 62.3962, 59.7775, 58.0625, 57.3419, 57.66, 59.0042, 61.3092, 64.4714, 68.3695, 72.8811, 77.8939, 83.3104, 89.049, 95.0424, 101.2361, 107.5858, 114.0555, 120.6158, 127.2426, 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"2026-09-01T22:27:00+00:00", "endExclusive": true }, "headline": "SOL one-week volatility collapses across the curve", "standfirst": "SOL 1W ATM IV fell 10.73 volatility points to 55.40%, an exceptional move at the 100th percentile. SOL front-end ATM IV fell 9.62 volatility points to 55.37%, while SOL long-dated ATM IV fell 3.93 volatility points to 54.88%. The 1Y-minus-1W ATM IV slope became less inverted by 7.02 volatility points to -0.54 volatility points.", "days": [ { "reportDate": "2026-09-01", "headline": "SOL volatility reprices sharply lower", "summary": "SOL\u2019s 1W ATM IV declined exceptionally as the curve moved materially less inverted.", "macro": { "summary": "No qualifying macro event was retained for this window.", "events": [] }, "crypto": { "summary": "A Solana treasury financing report was retained, but the completed reaction windows cannot prove causation.", "events": [ { "eventId": "c3755be9-bca0-43ec-8ebb-1795ee3be737", "title": "Solana Treasury DeFi Development Corp Eyes $20 Million Raise to Buy More SOL", "publisher": "Decrypt", "url": "https://decrypt.co/377068/defi-development-corp-20-million-raise-more-solana", "publishedAt": "2026-09-01T18:03:47+00:00" } ] } } ] }, "headline": "SOL one-week volatility collapses across the curve", "standfirst": "SOL 1W ATM IV fell 10.73 volatility points to 55.40%, an exceptional move at the 100th percentile. SOL front-end ATM IV fell 9.62 volatility points to 55.37%, while SOL long-dated ATM IV fell 3.93 volatility points to 54.88%. The 1Y-minus-1W ATM IV slope became less inverted by 7.02 volatility points to -0.54 volatility points.", "crossAssetMarketContext": { "schemaVersion": 1, "source": "market-context-mcp", "status": "available", "asset": "SOL", "sessionDate": "2026-08-31", "asOfTimestamp": "2026-08-31T20:00:00+00:00", "summary": "SOL context is aligned to the latest completed common session before the report ceiling.", "metrics": { "cryptoAtmIv30d": 64.53, "vix": 14.920000076293945, "vix9d": 12.34, "vix3m": 17.53, "ivSpread": 49.609999923706056, "ivRatio": 4.325067002012304, "cryptoRealisedVol20d": 69.510151101753, "spxRealisedVol20": 9.468852277597499, "rvSpread": 60.0412988241555, "rvRatio": 7.340926763236989, "rvSpreadPercentile": 47.24770642201835, "rvSpreadPercentileSampleCount": 218, "rvRatioPercentile": 73.85321100917432, "rvRatioPercentileSampleCount": 218, "returnCorrelation30": 0.19802504905429724, "returnCorrelation30SampleCount": 30, "returnCorrelation60": 0.44668597830309803, "returnCorrelation60SampleCount": 60 }, "methodology": "Crypto realised volatility uses sqrt(365); SPX realised volatility uses sqrt(252), so the annualisation clocks differ." } }