Volatility Smile
Implied vol against strike for each expiry. The shape shows what kind of move the market is paying to hedge.
SMILECrypto options (BTC, ETH, SOL, HYPE) and US options, including SPX, SPY, QQQ and single stocks.
Typing it
SMILESymbol>SMILEETH
Draws ETH implied vol across strikes for several expiries.
How to read it
- Both wings up. A big move is expected, direction unknown.
- One wing higher. A directional bias. A steep put wing is a fear bid.
- Flat. No extreme move priced. Rare outside calm markets.