# Implied Volatility, Constant Maturity, Constant Delta ## Overview The implied volatility metrics at constant maturity and constant delta provides a standardized, continuous view of the implied volatility (IV) surface. These metrics are available for exchange-pairs. In raw option markets, liquidity is fragmented across hundreds of discrete contracts, each with a unique strike price and expiration date. As time passes and market prices move, these discrete points shift, making it difficult to construct a consistent historical timeseries. To solve this, we model the volatility surface, a three-dimensional representation of implied volatility as a function of moneyness (delta) and time to maturity (tenor). By interpolating this surface, we generate constant maturity, constant delta metrics. These metrics act as standardized "slices" of the surface, allowing users to: * Analyze the implied volatility smile: Compare how the market prices out-of-the-money (OTM) options versus at-the-money (ATM) options. For instance, users can assess tail risk by comparing 25-delta vs. 50-delta metrics. * Analyze the term structure: Compare short-term volatility (gamma risk) against long-term volatility (vega risk) using constant tenors. For instance, users can assess the difference in market expectations between 7-day vs. 180-day IV. ## Metrics There are 260 implied volatility metrics across various combinations of option type, delta, and tenor. The metrics follow the naming convention:\ \ `volatility_implied_[type]_delta_[delta]_[tenor]_expiration` The following dimensions and their values are: * `[type]`: `call`, `put` * `[delta]`: `05`, `10`, `15`, `20`, `25`, `30`, `35`, `40`, `45`, `50` * `[tenor]`: `1d`, `2d`, `3d`, `7d`, `14d`, `21d`, `30d`, `60d`, `90d`, `120d`, `180d`, `270d`, `1y` Note: Delta is represented as an absolute value. A "delta 25 put" refers to a put with a mathematical delta of -0.25.

Metric	Description	Frequency	Coverage
`volatility_implied_call_delta_05_1d_expiration`	The annualized interpolated implied volatility of a call option with 5 delta expiring 1 day in the future.	1h, 1d	🔗
`volatility_implied_call_delta_05_2d_expiration`	The annualized interpolated implied volatility of a call option with 5 delta expiring 2 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_05_3d_expiration`	The annualized interpolated implied volatility of a call option with 5 delta expiring 3 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_05_7d_expiration`	The annualized interpolated implied volatility of a call option with 5 delta expiring 7 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_05_14d_expiration`	The annualized interpolated implied volatility of a call option with 5 delta expiring 14 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_05_21d_expiration`	The annualized interpolated implied volatility of a call option with 5 delta expiring 21 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_05_30d_expiration`	The annualized interpolated implied volatility of a call option with 5 delta expiring 30 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_05_60d_expiration`	The annualized interpolated implied volatility of a call option with 5 delta expiring 60 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_05_90d_expiration`	The annualized interpolated implied volatility of a call option with 5 delta expiring 90 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_05_120d_expiration`	The annualized interpolated implied volatility of a call option with 5 delta expiring 120 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_05_180d_expiration`	The annualized interpolated implied volatility of a call option with 5 delta expiring 180 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_05_270d_expiration`	The annualized interpolated implied volatility of a call option with 5 delta expiring 270 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_05_1y_expiration`	The annualized interpolated implied volatility of a call option with 5 delta expiring 1 year in the future.	1h, 1d	🔗
`volatility_implied_call_delta_10_1d_expiration`	The annualized interpolated implied volatility of a call option with 10 delta expiring 1 day in the future.	1h, 1d	🔗
`volatility_implied_call_delta_10_2d_expiration`	The annualized interpolated implied volatility of a call option with 10 delta expiring 2 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_10_3d_expiration`	The annualized interpolated implied volatility of a call option with 10 delta expiring 3 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_10_7d_expiration`	The annualized interpolated implied volatility of a call option with 10 delta expiring 7 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_10_14d_expiration`	The annualized interpolated implied volatility of a call option with 10 delta expiring 14 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_10_21d_expiration`	The annualized interpolated implied volatility of a call option with 10 delta expiring 21 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_10_30d_expiration`	The annualized interpolated implied volatility of a call option with 10 delta expiring 30 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_10_60d_expiration`	The annualized interpolated implied volatility of a call option with 10 delta expiring 60 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_10_90d_expiration`	The annualized interpolated implied volatility of a call option with 10 delta expiring 90 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_10_120d_expiration`	The annualized interpolated implied volatility of a call option with 10 delta expiring 120 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_10_180d_expiration`	The annualized interpolated implied volatility of a call option with 10 delta expiring 180 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_10_270d_expiration`	The annualized interpolated implied volatility of a call option with 10 delta expiring 270 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_10_1y_expiration`	The annualized interpolated implied volatility of a call option with 10 delta expiring 1 year in the future.	1h, 1d	🔗
`volatility_implied_call_delta_15_1d_expiration`	The annualized interpolated implied volatility of a call option with 15 delta expiring 1 day in the future.	1h, 1d	🔗
`volatility_implied_call_delta_15_2d_expiration`	The annualized interpolated implied volatility of a call option with 15 delta expiring 2 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_15_3d_expiration`	The annualized interpolated implied volatility of a call option with 15 delta expiring 3 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_15_7d_expiration`	The annualized interpolated implied volatility of a call option with 15 delta expiring 7 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_15_14d_expiration`	The annualized interpolated implied volatility of a call option with 15 delta expiring 14 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_15_21d_expiration`	The annualized interpolated implied volatility of a call option with 15 delta expiring 21 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_15_30d_expiration`	The annualized interpolated implied volatility of a call option with 15 delta expiring 30 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_15_60d_expiration`	The annualized interpolated implied volatility of a call option with 15 delta expiring 60 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_15_90d_expiration`	The annualized interpolated implied volatility of a call option with 15 delta expiring 90 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_15_120d_expiration`	The annualized interpolated implied volatility of a call option with 15 delta expiring 120 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_15_180d_expiration`	The annualized interpolated implied volatility of a call option with 15 delta expiring 180 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_15_270d_expiration`	The annualized interpolated implied volatility of a call option with 15 delta expiring 270 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_15_1y_expiration`	The annualized interpolated implied volatility of a call option with 15 delta expiring 1 year in the future.	1h, 1d	🔗
`volatility_implied_call_delta_20_1d_expiration`	The annualized interpolated implied volatility of a call option with 20 delta expiring 1 day in the future.	1h, 1d	🔗
`volatility_implied_call_delta_20_2d_expiration`	The annualized interpolated implied volatility of a call option with 20 delta expiring 2 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_20_3d_expiration`	The annualized interpolated implied volatility of a call option with 20 delta expiring 3 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_20_7d_expiration`	The annualized interpolated implied volatility of a call option with 20 delta expiring 7 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_20_14d_expiration`	The annualized interpolated implied volatility of a call option with 20 delta expiring 14 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_20_21d_expiration`	The annualized interpolated implied volatility of a call option with 20 delta expiring 21 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_20_30d_expiration`	The annualized interpolated implied volatility of a call option with 20 delta expiring 30 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_20_60d_expiration`	The annualized interpolated implied volatility of a call option with 20 delta expiring 60 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_20_90d_expiration`	The annualized interpolated implied volatility of a call option with 20 delta expiring 90 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_20_120d_expiration`	The annualized interpolated implied volatility of a call option with 20 delta expiring 120 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_20_180d_expiration`	The annualized interpolated implied volatility of a call option with 20 delta expiring 180 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_20_270d_expiration`	The annualized interpolated implied volatility of a call option with 20 delta expiring 270 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_20_1y_expiration`	The annualized interpolated implied volatility of a call option with 20 delta expiring 1 year in the future.	1h, 1d	🔗
`volatility_implied_call_delta_25_1d_expiration`	The annualized interpolated implied volatility of a call option with 25 delta expiring 1 day in the future.	1h, 1d	🔗
`volatility_implied_call_delta_25_2d_expiration`	The annualized interpolated implied volatility of a call option with 25 delta expiring 2 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_25_3d_expiration`	The annualized interpolated implied volatility of a call option with 25 delta expiring 3 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_25_7d_expiration`	The annualized interpolated implied volatility of a call option with 25 delta expiring 7 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_25_14d_expiration`	The annualized interpolated implied volatility of a call option with 25 delta expiring 14 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_25_21d_expiration`	The annualized interpolated implied volatility of a call option with 25 delta expiring 21 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_25_30d_expiration`	The annualized interpolated implied volatility of a call option with 25 delta expiring 30 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_25_60d_expiration`	The annualized interpolated implied volatility of a call option with 25 delta expiring 60 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_25_90d_expiration`	The annualized interpolated implied volatility of a call option with 25 delta expiring 90 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_25_120d_expiration`	The annualized interpolated implied volatility of a call option with 25 delta expiring 120 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_25_180d_expiration`	The annualized interpolated implied volatility of a call option with 25 delta expiring 180 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_25_270d_expiration`	The annualized interpolated implied volatility of a call option with 25 delta expiring 270 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_25_1y_expiration`	The annualized interpolated implied volatility of a call option with 25 delta expiring 1 year in the future.	1h, 1d	🔗
`volatility_implied_call_delta_30_1d_expiration`	The annualized interpolated implied volatility of a call option with 30 delta expiring 1 day in the future.	1h, 1d	🔗
`volatility_implied_call_delta_30_2d_expiration`	The annualized interpolated implied volatility of a call option with 30 delta expiring 2 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_30_3d_expiration`	The annualized interpolated implied volatility of a call option with 30 delta expiring 3 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_30_7d_expiration`	The annualized interpolated implied volatility of a call option with 30 delta expiring 7 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_30_14d_expiration`	The annualized interpolated implied volatility of a call option with 30 delta expiring 14 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_30_21d_expiration`	The annualized interpolated implied volatility of a call option with 30 delta expiring 21 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_30_30d_expiration`	The annualized interpolated implied volatility of a call option with 30 delta expiring 30 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_30_60d_expiration`	The annualized interpolated implied volatility of a call option with 30 delta expiring 60 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_30_90d_expiration`	The annualized interpolated implied volatility of a call option with 30 delta expiring 90 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_30_120d_expiration`	The annualized interpolated implied volatility of a call option with 30 delta expiring 120 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_30_180d_expiration`	The annualized interpolated implied volatility of a call option with 30 delta expiring 180 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_30_270d_expiration`	The annualized interpolated implied volatility of a call option with 30 delta expiring 270 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_30_1y_expiration`	The annualized interpolated implied volatility of a call option with 30 delta expiring 1 year in the future.	1h, 1d	🔗
`volatility_implied_call_delta_35_1d_expiration`	The annualized interpolated implied volatility of a call option with 35 delta expiring 1 day in the future.	1h, 1d	🔗
`volatility_implied_call_delta_35_2d_expiration`	The annualized interpolated implied volatility of a call option with 35 delta expiring 2 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_35_3d_expiration`	The annualized interpolated implied volatility of a call option with 35 delta expiring 3 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_35_7d_expiration`	The annualized interpolated implied volatility of a call option with 35 delta expiring 7 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_35_14d_expiration`	The annualized interpolated implied volatility of a call option with 35 delta expiring 14 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_35_21d_expiration`	The annualized interpolated implied volatility of a call option with 35 delta expiring 21 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_35_30d_expiration`	The annualized interpolated implied volatility of a call option with 35 delta expiring 30 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_35_60d_expiration`	The annualized interpolated implied volatility of a call option with 35 delta expiring 60 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_35_90d_expiration`	The annualized interpolated implied volatility of a call option with 35 delta expiring 90 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_35_120d_expiration`	The annualized interpolated implied volatility of a call option with 35 delta expiring 120 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_35_180d_expiration`	The annualized interpolated implied volatility of a call option with 35 delta expiring 180 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_35_270d_expiration`	The annualized interpolated implied volatility of a call option with 35 delta expiring 270 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_35_1y_expiration`	The annualized interpolated implied volatility of a call option with 35 delta expiring 1 year in the future.	1h, 1d	🔗
`volatility_implied_call_delta_40_1d_expiration`	The annualized interpolated implied volatility of a call option with 40 delta expiring 1 day in the future.	1h, 1d	🔗
`volatility_implied_call_delta_40_2d_expiration`	The annualized interpolated implied volatility of a call option with 40 delta expiring 2 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_40_3d_expiration`	The annualized interpolated implied volatility of a call option with 40 delta expiring 3 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_40_7d_expiration`	The annualized interpolated implied volatility of a call option with 40 delta expiring 7 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_40_14d_expiration`	The annualized interpolated implied volatility of a call option with 40 delta expiring 14 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_40_21d_expiration`	The annualized interpolated implied volatility of a call option with 40 delta expiring 21 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_40_30d_expiration`	The annualized interpolated implied volatility of a call option with 40 delta expiring 30 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_40_60d_expiration`	The annualized interpolated implied volatility of a call option with 40 delta expiring 60 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_40_90d_expiration`	The annualized interpolated implied volatility of a call option with 40 delta expiring 90 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_40_120d_expiration`	The annualized interpolated implied volatility of a call option with 40 delta expiring 120 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_40_180d_expiration`	The annualized interpolated implied volatility of a call option with 40 delta expiring 180 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_40_270d_expiration`	The annualized interpolated implied volatility of a call option with 40 delta expiring 270 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_40_1y_expiration`	The annualized interpolated implied volatility of a call option with 40 delta expiring 1 year in the future.	1h, 1d	🔗
`volatility_implied_call_delta_45_1d_expiration`	The annualized interpolated implied volatility of a call option with 45 delta expiring 1 day in the future.	1h, 1d	🔗
`volatility_implied_call_delta_45_2d_expiration`	The annualized interpolated implied volatility of a call option with 45 delta expiring 2 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_45_3d_expiration`	The annualized interpolated implied volatility of a call option with 45 delta expiring 3 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_45_7d_expiration`	The annualized interpolated implied volatility of a call option with 45 delta expiring 7 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_45_14d_expiration`	The annualized interpolated implied volatility of a call option with 45 delta expiring 14 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_45_21d_expiration`	The annualized interpolated implied volatility of a call option with 45 delta expiring 21 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_45_30d_expiration`	The annualized interpolated implied volatility of a call option with 45 delta expiring 30 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_45_60d_expiration`	The annualized interpolated implied volatility of a call option with 45 delta expiring 60 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_45_90d_expiration`	The annualized interpolated implied volatility of a call option with 45 delta expiring 90 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_45_120d_expiration`	The annualized interpolated implied volatility of a call option with 45 delta expiring 120 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_45_180d_expiration`	The annualized interpolated implied volatility of a call option with 45 delta expiring 180 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_45_270d_expiration`	The annualized interpolated implied volatility of a call option with 45 delta expiring 270 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_45_1y_expiration`	The annualized interpolated implied volatility of a call option with 45 delta expiring 1 year in the future.	1h, 1d	🔗
`volatility_implied_call_delta_50_1d_expiration`	The annualized interpolated implied volatility of a call option with 50 delta expiring 1 day in the future.	1h, 1d	🔗
`volatility_implied_call_delta_50_2d_expiration`	The annualized interpolated implied volatility of a call option with 50 delta expiring 2 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_50_3d_expiration`	The annualized interpolated implied volatility of a call option with 50 delta expiring 3 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_50_7d_expiration`	The annualized interpolated implied volatility of a call option with 50 delta expiring 7 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_50_14d_expiration`	The annualized interpolated implied volatility of a call option with 50 delta expiring 14 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_50_21d_expiration`	The annualized interpolated implied volatility of a call option with 50 delta expiring 21 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_50_30d_expiration`	The annualized interpolated implied volatility of a call option with 50 delta expiring 30 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_50_60d_expiration`	The annualized interpolated implied volatility of a call option with 50 delta expiring 60 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_50_90d_expiration`	The annualized interpolated implied volatility of a call option with 50 delta expiring 90 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_50_120d_expiration`	The annualized interpolated implied volatility of a call option with 50 delta expiring 120 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_50_180d_expiration`	The annualized interpolated implied volatility of a call option with 50 delta expiring 180 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_50_270d_expiration`	The annualized interpolated implied volatility of a call option with 50 delta expiring 270 days in the future.	1h, 1d	🔗
`volatility_implied_call_delta_50_1y_expiration`	The annualized interpolated implied volatility of a call option with 50 delta expiring 1 year in the future.	1h, 1d	🔗
`volatility_implied_put_delta_05_1d_expiration`	The annualized interpolated implied volatility of a put option with 5 delta expiring 1 day in the future.	1h, 1d	🔗
`volatility_implied_put_delta_05_2d_expiration`	The annualized interpolated implied volatility of a put option with 5 delta expiring 2 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_05_3d_expiration`	The annualized interpolated implied volatility of a put option with 5 delta expiring 3 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_05_7d_expiration`	The annualized interpolated implied volatility of a put option with 5 delta expiring 7 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_05_14d_expiration`	The annualized interpolated implied volatility of a put option with 5 delta expiring 14 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_05_21d_expiration`	The annualized interpolated implied volatility of a put option with 5 delta expiring 21 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_05_30d_expiration`	The annualized interpolated implied volatility of a put option with 5 delta expiring 30 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_05_60d_expiration`	The annualized interpolated implied volatility of a put option with 5 delta expiring 60 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_05_90d_expiration`	The annualized interpolated implied volatility of a put option with 5 delta expiring 90 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_05_120d_expiration`	The annualized interpolated implied volatility of a put option with 5 delta expiring 120 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_05_180d_expiration`	The annualized interpolated implied volatility of a put option with 5 delta expiring 180 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_05_270d_expiration`	The annualized interpolated implied volatility of a put option with 5 delta expiring 270 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_05_1y_expiration`	The annualized interpolated implied volatility of a put option with 5 delta expiring 1 year in the future.	1h, 1d	🔗
`volatility_implied_put_delta_10_1d_expiration`	The annualized interpolated implied volatility of a put option with 10 delta expiring 1 day in the future.	1h, 1d	🔗
`volatility_implied_put_delta_10_2d_expiration`	The annualized interpolated implied volatility of a put option with 10 delta expiring 2 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_10_3d_expiration`	The annualized interpolated implied volatility of a put option with 10 delta expiring 3 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_10_7d_expiration`	The annualized interpolated implied volatility of a put option with 10 delta expiring 7 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_10_14d_expiration`	The annualized interpolated implied volatility of a put option with 10 delta expiring 14 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_10_21d_expiration`	The annualized interpolated implied volatility of a put option with 10 delta expiring 21 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_10_30d_expiration`	The annualized interpolated implied volatility of a put option with 10 delta expiring 30 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_10_60d_expiration`	The annualized interpolated implied volatility of a put option with 10 delta expiring 60 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_10_90d_expiration`	The annualized interpolated implied volatility of a put option with 10 delta expiring 90 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_10_120d_expiration`	The annualized interpolated implied volatility of a put option with 10 delta expiring 120 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_10_180d_expiration`	The annualized interpolated implied volatility of a put option with 10 delta expiring 180 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_10_270d_expiration`	The annualized interpolated implied volatility of a put option with 10 delta expiring 270 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_10_1y_expiration`	The annualized interpolated implied volatility of a put option with 10 delta expiring 1 year in the future.	1h, 1d	🔗
`volatility_implied_put_delta_15_1d_expiration`	The annualized interpolated implied volatility of a put option with 15 delta expiring 1 day in the future.	1h, 1d	🔗
`volatility_implied_put_delta_15_2d_expiration`	The annualized interpolated implied volatility of a put option with 15 delta expiring 2 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_15_3d_expiration`	The annualized interpolated implied volatility of a put option with 15 delta expiring 3 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_15_7d_expiration`	The annualized interpolated implied volatility of a put option with 15 delta expiring 7 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_15_14d_expiration`	The annualized interpolated implied volatility of a put option with 15 delta expiring 14 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_15_21d_expiration`	The annualized interpolated implied volatility of a put option with 15 delta expiring 21 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_15_30d_expiration`	The annualized interpolated implied volatility of a put option with 15 delta expiring 30 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_15_60d_expiration`	The annualized interpolated implied volatility of a put option with 15 delta expiring 60 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_15_90d_expiration`	The annualized interpolated implied volatility of a put option with 15 delta expiring 90 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_15_120d_expiration`	The annualized interpolated implied volatility of a put option with 15 delta expiring 120 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_15_180d_expiration`	The annualized interpolated implied volatility of a put option with 15 delta expiring 180 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_15_270d_expiration`	The annualized interpolated implied volatility of a put option with 15 delta expiring 270 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_15_1y_expiration`	The annualized interpolated implied volatility of a put option with 15 delta expiring 1 year in the future.	1h, 1d	🔗
`volatility_implied_put_delta_20_1d_expiration`	The annualized interpolated implied volatility of a put option with 20 delta expiring 1 day in the future.	1h, 1d	🔗
`volatility_implied_put_delta_20_2d_expiration`	The annualized interpolated implied volatility of a put option with 20 delta expiring 2 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_20_3d_expiration`	The annualized interpolated implied volatility of a put option with 20 delta expiring 3 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_20_7d_expiration`	The annualized interpolated implied volatility of a put option with 20 delta expiring 7 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_20_14d_expiration`	The annualized interpolated implied volatility of a put option with 20 delta expiring 14 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_20_21d_expiration`	The annualized interpolated implied volatility of a put option with 20 delta expiring 21 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_20_30d_expiration`	The annualized interpolated implied volatility of a put option with 20 delta expiring 30 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_20_60d_expiration`	The annualized interpolated implied volatility of a put option with 20 delta expiring 60 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_20_90d_expiration`	The annualized interpolated implied volatility of a put option with 20 delta expiring 90 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_20_120d_expiration`	The annualized interpolated implied volatility of a put option with 20 delta expiring 120 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_20_180d_expiration`	The annualized interpolated implied volatility of a put option with 20 delta expiring 180 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_20_270d_expiration`	The annualized interpolated implied volatility of a put option with 20 delta expiring 270 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_20_1y_expiration`	The annualized interpolated implied volatility of a put option with 20 delta expiring 1 year in the future.	1h, 1d	🔗
`volatility_implied_put_delta_25_1d_expiration`	The annualized interpolated implied volatility of a put option with 25 delta expiring 1 day in the future.	1h, 1d	🔗
`volatility_implied_put_delta_25_2d_expiration`	The annualized interpolated implied volatility of a put option with 25 delta expiring 2 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_25_3d_expiration`	The annualized interpolated implied volatility of a put option with 25 delta expiring 3 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_25_7d_expiration`	The annualized interpolated implied volatility of a put option with 25 delta expiring 7 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_25_14d_expiration`	The annualized interpolated implied volatility of a put option with 25 delta expiring 14 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_25_21d_expiration`	The annualized interpolated implied volatility of a put option with 25 delta expiring 21 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_25_30d_expiration`	The annualized interpolated implied volatility of a put option with 25 delta expiring 30 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_25_60d_expiration`	The annualized interpolated implied volatility of a put option with 25 delta expiring 60 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_25_90d_expiration`	The annualized interpolated implied volatility of a put option with 25 delta expiring 90 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_25_120d_expiration`	The annualized interpolated implied volatility of a put option with 25 delta expiring 120 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_25_180d_expiration`	The annualized interpolated implied volatility of a put option with 25 delta expiring 180 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_25_270d_expiration`	The annualized interpolated implied volatility of a put option with 25 delta expiring 270 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_25_1y_expiration`	The annualized interpolated implied volatility of a put option with 25 delta expiring 1 year in the future.	1h, 1d	🔗
`volatility_implied_put_delta_30_1d_expiration`	The annualized interpolated implied volatility of a put option with 30 delta expiring 1 day in the future.	1h, 1d	🔗
`volatility_implied_put_delta_30_2d_expiration`	The annualized interpolated implied volatility of a put option with 30 delta expiring 2 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_30_3d_expiration`	The annualized interpolated implied volatility of a put option with 30 delta expiring 3 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_30_7d_expiration`	The annualized interpolated implied volatility of a put option with 30 delta expiring 7 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_30_14d_expiration`	The annualized interpolated implied volatility of a put option with 30 delta expiring 14 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_30_21d_expiration`	The annualized interpolated implied volatility of a put option with 30 delta expiring 21 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_30_30d_expiration`	The annualized interpolated implied volatility of a put option with 30 delta expiring 30 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_30_60d_expiration`	The annualized interpolated implied volatility of a put option with 30 delta expiring 60 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_30_90d_expiration`	The annualized interpolated implied volatility of a put option with 30 delta expiring 90 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_30_120d_expiration`	The annualized interpolated implied volatility of a put option with 30 delta expiring 120 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_30_180d_expiration`	The annualized interpolated implied volatility of a put option with 30 delta expiring 180 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_30_270d_expiration`	The annualized interpolated implied volatility of a put option with 30 delta expiring 270 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_30_1y_expiration`	The annualized interpolated implied volatility of a put option with 30 delta expiring 1 year in the future.	1h, 1d	🔗
`volatility_implied_put_delta_35_1d_expiration`	The annualized interpolated implied volatility of a put option with 35 delta expiring 1 day in the future.	1h, 1d	🔗
`volatility_implied_put_delta_35_2d_expiration`	The annualized interpolated implied volatility of a put option with 35 delta expiring 2 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_35_3d_expiration`	The annualized interpolated implied volatility of a put option with 35 delta expiring 3 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_35_7d_expiration`	The annualized interpolated implied volatility of a put option with 35 delta expiring 7 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_35_14d_expiration`	The annualized interpolated implied volatility of a put option with 35 delta expiring 14 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_35_21d_expiration`	The annualized interpolated implied volatility of a put option with 35 delta expiring 21 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_35_30d_expiration`	The annualized interpolated implied volatility of a put option with 35 delta expiring 30 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_35_60d_expiration`	The annualized interpolated implied volatility of a put option with 35 delta expiring 60 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_35_90d_expiration`	The annualized interpolated implied volatility of a put option with 35 delta expiring 90 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_35_120d_expiration`	The annualized interpolated implied volatility of a put option with 35 delta expiring 120 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_35_180d_expiration`	The annualized interpolated implied volatility of a put option with 35 delta expiring 180 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_35_270d_expiration`	The annualized interpolated implied volatility of a put option with 35 delta expiring 270 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_35_1y_expiration`	The annualized interpolated implied volatility of a put option with 35 delta expiring 1 year in the future.	1h, 1d	🔗
`volatility_implied_put_delta_40_1d_expiration`	The annualized interpolated implied volatility of a put option with 40 delta expiring 1 day in the future.	1h, 1d	🔗
`volatility_implied_put_delta_40_2d_expiration`	The annualized interpolated implied volatility of a put option with 40 delta expiring 2 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_40_3d_expiration`	The annualized interpolated implied volatility of a put option with 40 delta expiring 3 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_40_7d_expiration`	The annualized interpolated implied volatility of a put option with 40 delta expiring 7 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_40_14d_expiration`	The annualized interpolated implied volatility of a put option with 40 delta expiring 14 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_40_21d_expiration`	The annualized interpolated implied volatility of a put option with 40 delta expiring 21 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_40_30d_expiration`	The annualized interpolated implied volatility of a put option with 40 delta expiring 30 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_40_60d_expiration`	The annualized interpolated implied volatility of a put option with 40 delta expiring 60 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_40_90d_expiration`	The annualized interpolated implied volatility of a put option with 40 delta expiring 90 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_40_120d_expiration`	The annualized interpolated implied volatility of a put option with 40 delta expiring 120 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_40_180d_expiration`	The annualized interpolated implied volatility of a put option with 40 delta expiring 180 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_40_270d_expiration`	The annualized interpolated implied volatility of a put option with 40 delta expiring 270 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_40_1y_expiration`	The annualized interpolated implied volatility of a put option with 40 delta expiring 1 year in the future.	1h, 1d	🔗
`volatility_implied_put_delta_45_1d_expiration`	The annualized interpolated implied volatility of a put option with 45 delta expiring 1 day in the future.	1h, 1d	🔗
`volatility_implied_put_delta_45_2d_expiration`	The annualized interpolated implied volatility of a put option with 45 delta expiring 2 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_45_3d_expiration`	The annualized interpolated implied volatility of a put option with 45 delta expiring 3 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_45_7d_expiration`	The annualized interpolated implied volatility of a put option with 45 delta expiring 7 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_45_14d_expiration`	The annualized interpolated implied volatility of a put option with 45 delta expiring 14 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_45_21d_expiration`	The annualized interpolated implied volatility of a put option with 45 delta expiring 21 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_45_30d_expiration`	The annualized interpolated implied volatility of a put option with 45 delta expiring 30 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_45_60d_expiration`	The annualized interpolated implied volatility of a put option with 45 delta expiring 60 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_45_90d_expiration`	The annualized interpolated implied volatility of a put option with 45 delta expiring 90 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_45_120d_expiration`	The annualized interpolated implied volatility of a put option with 45 delta expiring 120 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_45_180d_expiration`	The annualized interpolated implied volatility of a put option with 45 delta expiring 180 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_45_270d_expiration`	The annualized interpolated implied volatility of a put option with 45 delta expiring 270 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_45_1y_expiration`	The annualized interpolated implied volatility of a put option with 45 delta expiring 1 year in the future.	1h, 1d	🔗
`volatility_implied_put_delta_50_1d_expiration`	The annualized interpolated implied volatility of a put option with 50 delta expiring 1 day in the future.	1h, 1d	🔗
`volatility_implied_put_delta_50_2d_expiration`	The annualized interpolated implied volatility of a put option with 50 delta expiring 2 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_50_3d_expiration`	The annualized interpolated implied volatility of a put option with 50 delta expiring 3 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_50_7d_expiration`	The annualized interpolated implied volatility of a put option with 50 delta expiring 7 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_50_14d_expiration`	The annualized interpolated implied volatility of a put option with 50 delta expiring 14 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_50_21d_expiration`	The annualized interpolated implied volatility of a put option with 50 delta expiring 21 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_50_30d_expiration`	The annualized interpolated implied volatility of a put option with 50 delta expiring 30 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_50_60d_expiration`	The annualized interpolated implied volatility of a put option with 50 delta expiring 60 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_50_90d_expiration`	The annualized interpolated implied volatility of a put option with 50 delta expiring 90 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_50_120d_expiration`	The annualized interpolated implied volatility of a put option with 50 delta expiring 120 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_50_180d_expiration`	The annualized interpolated implied volatility of a put option with 50 delta expiring 180 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_50_270d_expiration`	The annualized interpolated implied volatility of a put option with 50 delta expiring 270 days in the future.	1h, 1d	🔗
`volatility_implied_put_delta_50_1y_expiration`	The annualized interpolated implied volatility of a put option with 50 delta expiring 1 year in the future.	1h, 1d	🔗

## Data Sources and Methodology Input data is sourced from our exchange-reported implied volatility derived from the option contract's mark price. Since specific exchanges may offer multiple distinct option chains for the same asset (e.g., Bybit offers both BTC-USDT and BTC-USDC linear options), we calculate metrics at the exchange-pair level (e.g. `bybit-btc-usdt` and `bybit-btc-usdc`). This ensures that contracts from distinct option chains are never logically mixed. ### Interpolation Methodology To standardize implied volatility to constant maturities (e.g., exactly 30 days), we utilize linear interpolation of variance. Interpolating total variance ($$\sigma^2 t$$) is mathematically rigorous as it preserves the arbitrage-free properties of volatility over time. For a target time to maturity $$T\_{target}$$, we identify the two nearest available option contracts in the chain, one with expiry $$T\_1 < T\_{target}$$ and one with expiry $$T\_2 > T\_{target}$$. We first calculate the Total Variance ($$V$$) for the surrounding points, where $$\sigma$$ is the implied volatility: $$ V\_1 = \sigma\_1^2 \cdot T\_1 $$ $$ V\_2 = \sigma\_2^2 \cdot T\_2 $$ We then linearly interpolate the Total Variance to find $$V\_{target}$$: $$ V\_{target} = \frac{T\_{target} - T\_1}{T\_2 - T\_1}V\_2 + \frac{T\_2 - T\_{target}}{T\_2 - T\_1}V\_1 $$ Finally, we convert the interpolated Total Variance back to an annualized Implied Volatility $$\sigma\_{target}$$: $$ \sigma\_{target} = \sqrt{\frac{V\_{target}}{T\_{target}}} $$ This methodology allows us to construct a smooth curve even when specific target dates (e.g., exactly 90 days out) do not align with listed expiration cycles. ### Valid Calculation Ranges Not all exchanges list options with expirations spanning the full range from 1 day to 1 year. To avoid extrapolation errors, we limit metric calculation to a valid range $$\[T\_{target,min}, T\_{target,max}]$$ specific to each exchange-pair. We restrict calculation to targets that fall within a 10-day buffer of the actual listed expirations ($$T\_{actual}$$): $$ T\_{target,min} = \max(S \mid S < T\_{actual,min} - 10 \text{ days}) $$ $$ T\_{target,max} = \min(S \mid S > T\_{actual,max} + 10 \text{ days}) $$ Where $$S$$ is the set of standard tenors $${1d, 2d, ..., 1y}$$. If a requested tenor (e.g., 1y) falls outside these bounds for a specific exchange, the metric is returned as `null`. ### Exception Handling * **Insufficient market data**: The interpolation requires bracketing contracts (one shorter, one longer than the target tenor). If suitable contracts cannot be identified to bracket the target delta or tenor, the metric returns `null` for that timestamp. * **Gap filling**: Ideally, input data is continuous. In rare instances where source data has gaps, we apply standard exception handling to maintain timeseries continuity by using the most recent available data. ## Coverage {% embed url="\_\*" %} ## API Endpoints The metrics are served through the following endpoints: * [/timeseries/exchange-pair-metrics](https://docs.coinmetrics.io/api/v4/#tag/Timeseries/operation/getTimeseriesExchangePairMetrics) ## Examples #### **Example for Exchange Asset Metrics** A sample of the `volatility_implied_call_delta_25_30d_expiration` metric for the exchange\_asset `deribit-btc-usd` from our `/timeseries/exchange-pair-metrics` API endpoint is provided below. You can view this example in your browser [here](https://api.coinmetrics.io/v4/timeseries/exchange-pair-metrics?exchange_pairs=deribit-btc-usd\&metrics=volatility_implied_call_delta_25_30d_expiration\&limit_per_exchange_pair=3\&frequency=1d\&api_key=YOUR_API_KEY). ```json [ { "exchange_pair": "deribit-btc-usd", "time": "2025-12-10T00:00:00.000000000Z", "volatility_implied_call_delta_25_30d_expiration": "0.432419083343269" }, { "exchange_pair": "deribit-btc-usd", "time": "2025-12-11T00:00:00.000000000Z", "volatility_implied_call_delta_25_30d_expiration": "0.41659762354355" }, { "exchange_pair": "deribit-btc-usd", "time": "2025-12-12T00:00:00.000000000Z", "volatility_implied_call_delta_25_30d_expiration": "0.412614514580369" } ] ``` ## Frequently Asked Questions #### What units are the implied volatility metrics in? The metrics are presented in raw units. For instance, a value of `0.5223685` should be interpreted as `52.23685%`. --- # Agent Instructions: Querying This Documentation If you need additional information that is not directly available in this page, you can query the documentation dynamically by asking a question. Perform an HTTP GET request on the current page URL with the `ask` query parameter: ``` GET https://gitbook-docs.coinmetrics.io/market-data/market-data-overview/volatility/implied-volatility-constant-maturity-constant-delta.md?ask= ``` The question should be specific, self-contained, and written in natural language. The response will contain a direct answer to the question and relevant excerpts and sources from the documentation. Use this mechanism when the answer is not explicitly present in the current page, you need clarification or additional context, or you want to retrieve related documentation sections.