Options
Learn about the definitions
Velo uses TradingView's library to support seamless switching of coins and timeframes. Data updates live up to 5x per second and users may save up to 4 layouts that will persist across browser sessions, as well as display the chart in full screen.
The charting technology is provided by TradingView, a platform for traders and investors. It offers advanced charting tools where people driven by markets can track major upcoming events in the Economic calendar, chat, chart, and prepare for trades.
| Metric | Description |
|---|---|
| DVOL | DVOL is Deribit's implied volatility index. Velo displays the mark price of the index itself. |
| Price Overlay | Price overlay shows the mark price of the selected coin's perpetual future on Deribit. |
| Volume | Viewable in contracts, notional, or premium terms, and in the form of call and put, call minus put, or total. Contract volume is the actual number of contracts traded. Notional volume is the number of contracts traded times the price of each contract's underlying future. Premium is the dollar price of the option times the number of contracts traded. |
| Greeks | Calculated using the Black Scholes formula. Velo may price each option with a perpetual, dated, or interpolated underlying future. Traded amounts of delta are viewable in terms of coins or dollars, and in the form of call and put, call minus put, or total. Traded amounts of gamma are viewable in terms of coins or dollars. Traded amounts of vega are viewable in terms of coins or dollars. |
| RV | The realized volatility for the selected underlying (BTC or ETH), shown by default as 30 day realized volatility and with a spread to the DVOL index. The spread to DVOL is best viewed only when RV is kept as the default 30 day measure. |
Panels
The 6 charts beside the large TradingView chart on our Options page.
| Panel | Description |
|---|---|
| ATM Implied Volatility | Implied volatility is viewable standardized for options expiring in 1 week (7 days), 1 month (30 days), 3 months (90 days), or 6 months (180 days). At the money implied volatility for each listed expiration is interpolated between the options with strike prices surrounding the price of the underlying future. At the money implied volatility for each standardized expiration is interpolated between the values for expirations surrounding the target date. Saved and shown as a ~240 second moving average. |
| 25 Delta Skew | 25 delta skew is viewable standardized for options expiring in 1 week (7 days), 1 month (30 days), 3 months (90 days), or 6 months (180 days). 25 delta put implied volatility for each listed expiration is interpolated between the options with deltas surrounding -0.25. 25 delta call implied volatility for each listed expiration is interpolated between the options with deltas surrounding 0.25. 25 delta skew for each listed expiration is calculated as (25 delta put implied volatility − 25 delta call implied volatility) / at the money implied volatility. 25 delta skew for each standardized expiration is interpolated between the values for expirations surrounding the target date. Saved and shown as a ~240 second moving average. |
| Active Options | The 6 options contracts for the selected coin with the highest volume in the last 24 hours. |
| Put/Call | Volume: The trailing 24 hour options volume in contracts, broken down by put or call. OI: The latest open interest in contracts for all options, broken down by put or call. OI (Premium): The latest open interest in premium (OI × option price in dollars) for all options, broken down by put or call. |
| Term Structure | The term structure with at the money and forward at the money implied volatility for each expiration on the selected coin. |
| Spot-Vol Correlation | The trailing correlation between changes in the DVOL index and changes in the underlying price for the selected coin. |
| Term Structure Slope | The spread between the 1 month at the money implied volatility and 6 month at the money implied volatility for the selected coin. |