{"path":"/derivatives/options_implied_volatility_term_structure","tier":3,"parameters":{"a":["ETH"],"c":["native"],"e":["deribit","okex"],"f":["json"],"i":["10m"]},"parameters_defaults":{"e":["deribit"]},"queried":{"a":"ETH","path":"/v1/metrics/derivatives/options_implied_volatility_term_structure"},"refs":{"docs":"https://docs.glassnode.com/basic-api/endpoints/derivatives#get-v1-metrics-derivatives-options_implied_volatility_term_structure","studio":"https://studio.glassnode.com/charts/derivatives.OptionsImpliedVolatilityTermStructure"},"bulk_supported":false,"timerange":{"min":1792063800,"max":1792063800},"modified":1792064641,"descriptors":{"name":"Options Implied Volatility Term Structure","short_name":"Options Volatility Term Structure","group":"Implied Volatility","tags":["options","implied_volatility","volatility"],"description":{"default":"**Definition.** Options Implied Volatility Term Structure is the at-the-money implied volatility of options expiring on different dates in the future, showing how the market prices the relation between volatility and time.\n\n**Technical.** The legend reports the state of the term structure at several recent points in time, namely latest, 1 day, 2 days, 1 week, and 2 weeks ago.\n\n**Interpretation.** The curve most often slopes upward, and its steepness can be a sign of complacency in the markets, with implied volatility for options expiring shortly at times 50% lower than that of longer-dated options. When near-term implied volatility exceeds longer-dated implied volatility, the structure is in \"backwardation\", which can indicate panic and demand in the options markets as investors price in greater risk for short-term contracts than for those expiring further in the future.\n"},"data_sharing_group":"market"}}