# Bitcoin Options Gauge Posts Lowest Year-to-Date Average Since 2021 By Enna Lee Canonical URL: https://www.tokenpost.com/news/investing/49104 Published: 2026-11-05T06:56:52.000Z Updated: 2026-11-05T06:56:52.000Z Section: Investing > The index closed below 40 on 54 of the 60 days leading into early November. Bitcoin options priced in smaller expected moves on average in 2026 than in any year since Deribit’s DVOL gauge launched, with the index averaging 42.4 through early November. DVOL combines Bitcoin options prices into an annualized estimate of volatility over the next 30 days. Lower readings indicate the options market is pricing a smaller range of possible movement. Annual averages were 93.2 in 2021, after the gauge launched in March; 73 in 2022; 51 in 2023; 56 in 2024; and 45.8 in 2025. The average rose in 2024 before declining in each of the next two years. The 2026 figure is less than half the 2021 average. The annual comparison follows [earlier coverage of a five-year low in near-term implied volatility](). Sub-40 closes occurred on 54 of the 60 days leading into early November. Lower implied volatility corresponds with options premiums that are cheaper relative to the index’s history, while options sellers collect less premium for taking on risk. Whether DVOL stays below 40 and how quickly it returns to its low range after the next shock will test whether subdued readings persist. ## Links in this article - [earlier coverage of a five-year low in near-term implied volatility](https://www.tokenpost.com/news/investing/30117)