Short-dated XRP options are experiencing dramatic swings as market makers scramble to adjust positions around near-term catalysts. The at-the-money implied volatility for XRP hit 60.70% on September 15 on Binance’s XRP_USDT options, with a 24-hour change of -12.07 points. The 25-delta put-call skew surged by 16.85 points over 24 hours, reflecting growing demand for downside protection. The gap between 1-month ATM implied volatility (53%) and 30-day realized volatility (88%) stands at 35 points, a historically low reading in the 7th percentile over a 2-year lookback window, indicating traders had been selling volatility cheaply before this brutal repricing.
Source: Read the original article
