Free options analytics for Delta Exchange India — BTC, ETH & Gold

Live implied volatility, flow and dealer positioning; a strategy builder with real fees; and backtests run on two years of actual trades from the venue. Built for premium sellers. Every number says how it was made — and how much to trust it. No account needed.

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AI Daily Briefas of 2026-09-20 18:28 IST

Read the full brief →

BTCCarry / Calendar Environment

BTC implied vol sits in the 21st percentile of its ~30 DTE history, with realized vol running 2.4 points above implied, the term structure is in contango (+10.8 pts), and price is trending higher (+4.8% / 7d). Calendars and diagonals harvesting the term-structure edge are favored — but signals conflict (Premium-vs-Carry tug), so conviction is low.

ETHCarry / Calendar Environment

ETH implied vol sits in the 37th percentile of its ~30 DTE history, with options pricing 0.9 points more vol than realized, the term structure is in contango (+11.8 pts), and price is trending higher (+4.0% / 7d). Calendars and diagonals harvesting the term-structure edge are favored.

XAUTPremium Buying Environment

With realized vol running 4.3 points above implied, and price is range-bound. Long-vol structures are favored.

AI narrative is temporarily unavailable — showing the live conditions read.

Informational and educational only. A conditions synthesis, not a signal, forecast, or investment advice.

Mission Control

What matters right now — the regime, the numbers, and today's playbook — in one screen. Conditions read from live BTC & ETH options data, not trade advice.

The 30-second read

BTC spot · live

$80,453

Carry / Calendar Environment

Low conviction

ATM IV · 1d

25.3%

cheap · 32nd %ile ↓

Exp. move

±1.0%

Med vs history

Conviction

/100 regime fit

IV pctile (~30 DTE) 21%IV − RV -2.4 ptsTerm slope +10.8 ptsSkew (5% wings) -1.6 pts7d trend +4.8%

ETH spot · live

$2,577

Carry / Calendar Environment

High conviction

ATM IV · 1d

39.4%

mid · 34th %ile

Exp. move

±1.6%

Med vs history

Conviction

/100 regime fit

IV pctile (~30 DTE) 37%IV − RV +0.9 ptsTerm slope +11.8 ptsSkew (5% wings) -2.2 pts7d trend +4.0%

XAUT spot · live

$4,370

Premium Buying Environment

High conviction

ATM IV · 1d

17.5%

building history

Exp. move

±0.8%

to 1d expiry

Conviction

/100 regime fit

IV − RV -4.3 ptsSkew (5% wings) -1.8 pts7d trend +0.5%

With realized vol running 4.3 points above implied, and price is range-bound. Long-vol structures are favored.

Today's Playbook

What the current regime favors — and what to sit out — from the live ranking engine. Conditions-based structure ideas, not trade signals or advice.

BTCCarry / Calendar Environment

Low conviction · 35/100

Structure to consider

Diagonal call spread

Good · 70

Why it fits: contango term structure, uptrend.

Watch: quiet realized movement.

Trade quality 59/100θ −$34.02/day✓ buildable now

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Alternative

Long synthetic future

Good · 67/100 fit

Sit out

Short synthetic future

weakest regime fit · 33/100

Pre-trade checks

✓Steep contango (+10.8 pts)
✓Back-month IV cheap (21st pctile)
✗VRP negative
✗Trending up

ETHCarry / Calendar Environment

High conviction · 71/100

Structure to consider

Diagonal call spread

Good · 66

Why it fits: contango term structure, uptrend.

Trade quality 58/100θ +$0/day✓ buildable now

Build this in the payoff lab →

Alternative

Calendar call spread

Good · 62/100 fit

Sit out

Short synthetic future

weakest regime fit · 44/100

Pre-trade checks

✓Steep contango (+11.8 pts)
✗IV not cheap (37th pctile)
✓Front decay funded (VRP +0.9)
✗Trending up

XAUTPremium Buying Environment

High conviction · 92/100

Structure to consider

Long synthetic future

Fair · 61

Why it fits: negative VRP (RV > IV), quiet realized movement.

Trade quality 30/100θ −$0.23/day✓ buildable now

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Alternative

Long call

Fair · 52/100 fit

Sit out

Short synthetic future

weakest regime fit · 39/100

Pre-trade checks

✓RV exceeds IV (-4.3 pts)
✗Tape quiet

Dig deeper

Expiry Radar

Which expiry to trade

The full read

Global options market context

Deribit · 30d DVOL index

BTC global option OI $34.3B across 968 listings · DVOL 35.1%

ETH global option OI $4.7B across 870 listings · DVOL 50.2%

The world's options market for scale — analytics on this site cover Delta Exchange, where these contracts actually trade in INR margin.

ATM implied volatility term structure

Mean of call/put mark IV at the strike nearest spot, per expiry (settlement 12:00 UTC · 5:30 PM IST).

BTC expiries

Rank in Expiry Radar →

Expiry	Score	DTE	ATM IV	Exp. move	Straddle	PCR (OI)
2026-09-21	43	1.0	25.3%	±1.0%Med	$832.73	1.39
2026-09-22	42	2.0	28.4%	±1.7%High	$1,332	0.69
2026-09-23	48	3.0	29.8%	±2.1%High	$1,722	1.04
2026-09-25	60	5.0	30.8%	±2.9%Low	$2,303	5.40
2026-10-02	52	12.0	32.7%	±4.7%High	$3,804	1.17
2026-10-09	42	19.0	33.0%	±6.0%Low	$4,827	0.91
2026-10-30	43	40.0	33.6%	±8.8%Med	$7,114	1.47
2026-11-27	48	68.0	36.1%	±12.4%High	$9,973	1.15

ETH expiries

Rank in Expiry Radar →

Expiry	Score	DTE	ATM IV	Exp. move	Straddle	PCR (OI)
2026-09-21	58	1.0	39.4%	±1.6%Med	$41.96	1.20
2026-09-22	43	2.0	41.8%	±2.4%High	$62.65	0.54
2026-09-23	43	3.0	42.7%	±3.1%High	$79.46	2.35
2026-09-25	61	5.0	45.3%	±4.3%Low	$110.93	2.25
2026-10-02	52	12.0	45.3%	±6.6%High	$170.16	0.88
2026-10-09	42	19.0	46.7%	±8.5%Low	$220.03	1.63
2026-10-30	47	40.0	48.0%	±12.7%High	$328.29	0.80
2026-11-27	52	68.0	51.2%	±17.7%High	$455.8	0.80

XAUT expiries

Rank in Expiry Radar →

Expiry	Score	DTE	ATM IV	Exp. move	Straddle	PCR (OI)
2026-09-21	71	1.1	17.5%	±0.8%	$33.94	0.92
2026-09-25	71	5.1	20.7%	±2.0%	$85.94	0.99

IV rank & percentile are coming — history collection started 21 Jul 2026 and the view unlocks once enough snapshots accumulate. Data refreshes every minute.