Voltera
Hedging a directional book
If you hold a position, a long vol perp gains value in exactly the weeks that position loses it. That makes it a hedge you can size against the rest of your book.
Voltera lists volatility itself as a market. Buy it if you expect the underlying to move more than it has been, sell it if you expect it to move less. Which direction it moves does not affect your position.
Every index is the annualized realized volatility of a real underlying, computed with the Yang-Zhang estimator over live daily bars. Sixty means the market expects to travel sixty percent over a year in either direction.
| Market | Sector | Index | Session | 7D | 30D | 90D | 90 sessions | Regime | Underlying | |
|---|---|---|---|---|---|---|---|---|---|---|
| Computing the index from live bars… | ||||||||||
If you hold a position, a long vol perp gains value in exactly the weeks that position loses it. That makes it a hedge you can size against the rest of your book.
Realized volatility spends most of its time below its own average. Selling it collects that, and the maintenance margin states the downside as a number rather than burying it in an option chain.
All nine indices are quoted in the same unit, so Solana vol against Bitcoin vol, or Nvidia against the S&P, is a position you can open on both legs here.
When seven-day realized runs above ninety-day, the curve is in backwardation. The board shows all three windows side by side on every market.
The obvious way to measure volatility is the standard deviation of closing returns. It is also the least informative. It ignores everything that happened between the closes, and it scores a market that gapped down eight percent overnight and then sat still as a quiet day.
Yang-Zhang splits the session into the overnight gap, the open-to-close move and the intraday range, then weights them. It is the only common estimator that handles gaps, drift and the full range at once, which is what an index has to do if it is going to be traded. A steady move higher is direction rather than volatility, and the two should not read the same.
This is realized volatility, measured from bars that already printed. It is not implied volatility and Voltera does not call it that. Realized vol lags, and that lag is a tradable property rather than a defect to hide.
The index recomputes from the same daily OHLC bars anyone can pull. There is no discretionary mark and no committee. Your position is worth what the estimator says it is worth, and the estimator is in the repository.
A vol index can double in a week and halve in the next. Ten times leverage on a mean-reverting series liquidates both sides inside a month, so the cap is five and the maintenance margin is ten percent of notional.
Enter a Voltera ticker or the underlying symbol to open it in the terminal.