{"slug":"how-to-read-a-crypto-option-chain","qid":"skew","label":"skew","post_title":"how-to-read-a-crypto-option-chain","post_url":"/blog/lang/ta/how-to-read-a-crypto-option-chain#q-skew","columns":["moneyness","put_iv_pct","call_iv_pct","contracts"],"rows":[{"moneyness":"strike 10%+ below spot","put_iv_pct":56.5,"call_iv_pct":49.4,"contracts":619},{"moneyness":"strike 3-10% below spot","put_iv_pct":37.8,"call_iv_pct":37.8,"contracts":349},{"moneyness":"near the money","put_iv_pct":36.6,"call_iv_pct":36.7,"contracts":353},{"moneyness":"strike 3-10% above spot","put_iv_pct":35.1,"call_iv_pct":36.9,"contracts":253},{"moneyness":"strike 10%+ above spot","put_iv_pct":54.1,"call_iv_pct":43.6,"contracts":204}],"shape":"ranking","sql":"SELECT\n    multiIf(mny < -0.10, 'strike 10%+ below spot',\n            mny < -0.03, 'strike 3-10% below spot',\n            mny <  0.03, 'near the money',\n            mny <= 0.10, 'strike 3-10% above spot',\n                         'strike 10%+ above spot') AS moneyness,\n    round(avgIf(iv, side = 'p') * 100, 1)          AS put_iv_pct,\n    round(avgIf(iv, side = 'c') * 100, 1)          AS call_iv_pct,\n    count()                                        AS contracts\nFROM\n(\n    SELECT\n        toFloat64(strike_price) / toFloat64(underlying_close) - 1 AS mny,\n        implied_volatility                                        AS iv,\n        lower(substring(option_type, 1, 1))                       AS side\n    FROM global_markets.options_greeks\n    WHERE underlying_symbol = 'IBIT'\n      AND date >= today() - 14\n      AND iv_converged = 1\n      AND volume > 0\n      AND days_to_expiry BETWEEN 20 AND 45\n)\nGROUP BY moneyness\nHAVING countIf(side = 'p') > 0 AND countIf(side = 'c') > 0\nORDER BY min(mny)","computed_at":"2026-10-07T15:31:42.726673+00:00","elapsed":0.070370956}