Ether Options Retain Steeper Downside Skew Than Bitcoin as Put-Call IV Spreads Narrow

Ether (ETH) options showed a wider put-minus-call implied-volatility spread than Bitcoin (BTC) options in Monday’s latest readings, though both measures narrowed over the prior 24 hours. At 12:18 p.m. ET (16:18 UTC) Oct. 19, Ether options expiring Oct. 21 had an 8.24-percentage-point spread between 25-delta puts and comparable calls, down from 11.27 points 24 hours earlier. Bitcoin’s corresponding spread was 2.67 points at 11:58 a.m. ET (15:58 UTC), compared with 6.18 points a day earlier. The two latest readings were 20 minutes apart. A 25-delta comparison looks at options with similar sensitivity to price changes. A put gives its holder the right to sell an asset, while a call gives the right to buy. A positive spread means puts had higher implied volatility than comparable calls.

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