Early access·Soft launch — data analytics only (no order execution). Feeds may be partial. Not financial advice. Sources·Terms·Account

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KAS Skew

Live

25Δ RR / fly from marked chain IVs. Smile is observed marks, not a fitted model. Research terminal.

KASUnique tickerQuotes: USD

Live· 6 expiries available· data analytics · not order executionData sources →

Spot Price

25Δ Risk Reversal

-1.3%

Put IV minus Call IV

25Δ Butterfly (Fly)

1.66 pts

Wings avg minus ATM

ATM Mark IV

53.7%

Nearest listed ATM

Listed chain tenors only — not 7d / 30d / 90d buckets. Missing 25Δ wings or ATM stay —. Calendar is ATM IV minus front listed ATM.

Tenor	ATM IV	25Δ RR	25Δ Fly	Cal vs front	Chart
2026-09-29	53.7%	-1.34 pts	+1.66 pts	—	Chart
2026-09-30	61.2%	+4.41 pts	+2.52 pts	+7.48 pts	Chart
2026-10-02	66.8%	+4.29 pts	+3.00 pts	+13.07 pts	Chart
2026-10-09	70.3%	+2.36 pts	+1.00 pts	+16.60 pts	Chart
2026-10-30	75.3%	+0.12 pts	+0.58 pts	+21.64 pts	Chart
2026-12-25	81.9%	+0.01 pts	+0.53 pts	+28.25 pts	Chart

Mark IV (%) across strikes for front expiries — chain marks, not a fitted model

Active expiryChart Chain

STRIKE	MONEYNESS	CALL IV	PUT IV	Chart
$0.045	96.6%	61.1%	61.1%	Chart
$0.0455	97.7%	57.2%	57.2%	Chart
$0.046	98.8%	54.7%	54.7%	Chart
$0.0465	99.8%	53.7%	53.7%	Chart
$0.047	100.9%	54.2%	54.2%	Chart
$0.0475	102.0%	56.0%	56.0%	Chart
$0.048	103.0%	59.0%	59.0%	Chart
$0.0485	104.1%	62.8%	62.8%	Chart
$0.049	105.2%	67.4%	67.4%	Chart
$0.0495	106.3%	72.4%	72.4%	Chart
$0.05	107.3%	77.8%	77.8%	Chart
$0.0505	108.4%	83.3%	83.3%	Chart
$0.051	109.5%	89.1%	89.1%	Chart
$0.052	111.6%	100.8%	100.8%	Chart
$0.053	113.8%	112.7%	112.7%	Chart
$0.054	115.9%	124.4%	124.4%	Chart

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