Volatilidad implícita de opciones
Sonrisa de IV y estructura temporal ATM de BTC/ETH · datos de Deribit
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IV Smile ·
Estructura temporal de la IV ATM
Fuente: instantánea de la cadena de opciones de Deribit (actualización ~30 min). La IV ATM es la media de la volatilidad implícita de call y put en el strike más cercano al contado.
What is the IV smile?
Plotting implied volatility across strikes for one expiry usually forms a 'smile' or 'skew': deep out-of-the-money options (especially puts) carry higher IV, reflecting the premium paid for tail-risk protection. Put skew signals fear; call skew signals squeeze/FOMO conditions.
What is term structure?
ATM implied volatility across expiries. Contango (longer-dated IV above near-dated) is normal; inversion — near-month IV spiking above far months — signals event-driven short-term hedging demand.