Expected volatility by expiry
Are bigger swings priced for nearer or later expiries?
Implied volatility (IV) expresses the size of price swings built into option model prices, as an annualised percentage. This chart uses the strike nearest each expiry's forward reference price — an approximation of at-the-money options.
A downward slope means higher annualised volatility for nearer expiries. For example, 60% annualised IV is not a forecast of a 60% move by next week and says nothing about the direction of a move.
For each expiry choose the listed strike nearest its median forward reference price, then average available positive call/put mark IV at that strike. No interpolation or fixed 30-day tenor. Missing IV stays missing.
Deribit only; no historical series or dealer-position inference. Current active instruments only. Not a price prediction.
Deribit production public API: instrument metadata, market summaries and index price.
Deribit · active inverse options · current snapshot