◆IV SKEW / SMILE — per-strike implied vol vs fitted (ATM±5)
| Strike | Call IV | Put IV | IV (OTM) | Fitted | Resid | vs Smile |
|---|---|---|---|---|---|---|
| no live rows (market closed / warming) | ||||||
IMPLIED VOL SMILE — market (OTM) vs fitted quadratic
ATM IV
--
RISK REV
--
BUTTERFLY
--
DAYS
--
no live option premiums (market closed / warming)
◆ READ RICH strikes trade above the fitted smile (sell vol), CHEAP below (buy vol). Risk-reversal = call−put wing IV (skew direction); butterfly = wing vs ATM (convexity). Greeks/IV computed in-house.