{"pair":"eth/usd","currency":"ETH","atm_iv":52.07,"skew":-0.8473,"skew_definition":"25-delta risk reversal: call IV minus put IV, in vol points (negative = puts bid), Deribit, the same computation MSXI publishes (indices/shared/fetchers/skew.py); its tenor is skew_tenor_days","skew_tenor_days":46.8,"skew_window":"primary_40_55d","skew_source":"msxi","skew_otm8_put_minus_call":5.27,"put_otm8_iv":58.1,"call_otm8_iv":52.83,"skew_change":"2026-10-25: skew is now MSXI's 25-delta call minus put. It was put minus call at strikes ~8% out of the money (moneyness 0.92/1.08), published as put_25d_iv/call_25d_iv; that measure continues as skew_otm8_put_minus_call, put_otm8_iv and call_otm8_iv. A missing leg is now null, not 0.","ts_ratio":1.0056,"spot":2275.02,"preview":true,"note":"Preview — ATM IV, skew, term structure only, unsigned","canonical":"v1|IV-PREVIEW|eth/usd|ETH|2275.02|52.07|-0.8473|1.0056","signature":"e19d3932a817b19b36222a878052a944d05ea8daf6a55542e9335ac63b463c83434a8cb9013ec27e9468db3f0e56aa61aadc9c25aadce251a925ccaa891bde0e","digest":"e4e96d94cdbd385a4262212fa1d84f820e2813fe1eaf1fd2930f957a90f6ccf0","pubkey":"7ab07fbe7d08cd16823e5eb0db0e21f3f38e9366d5fd00d14e95df0fb9b51a1a","signed":true,"preview_cached":true,"cache_age_minutes":2}