Deribit Options Market Report: 0915 — What is RV

【BTC Options】

BTC historical volatility

10d 38% 

30d 55%

90d 48%

1Y  81%

Implied volatility for each normalized term:

Implied volatility for each normalized term:

Today: 1m 53%, 3m 68%, 6m 72%

9/14：1m 55%, 3m67%, 6m 69%

The IV of Bitcoin is falling in all periods. It has fallen below the average in the short term, and the IV in the medium and long term has also fallen below the recent average.

The skewness began to shift again, the short-term virtual value Put price dropped, and the market returned to rationality.

From the Option Flows data, Put Sells accounted for 38%, because of the decline in DeFi revenue, more puts were sold.

ETH Historical Volatility

【ETH Options】

ETH Historical Volatility

10d 112% 

30d 104%

90d 81%

1Y 105%

Each standardized period IV:

Each standardized period IV:

Today: 1m 77%, 3m 84%, 6m 81%

9 /14：1m77%，3m86%，6m81%

The inversion of the Ethereum IV period is still obvious, and calendar spreads can be made. But for the variety of Ethereum, the current price difference is not too big.