Term Structure
At-the-money implied vol by days to expiry. The shape of the curve shows when the market expects trouble.
TSIVTSCrypto options (BTC, ETH, SOL, HYPE) and US options, including SPX, SPY, QQQ and single stocks.
Typing it
TSSymbol>TSSPY
Shows SPY at-the-money IV from the front expiry out.
How to read it
- Upward slope. Contango, the normal shape. Calm now, more uncertainty later.
- Inverted. Near-term stress, typical ahead of an event.
- Front end kink. One expiry priced above its neighbours, usually a dated catalyst.