Definition. A heatmap of model-interpolated implied volatility across moneyness buckets at a fixed 6-month tenor. The vertical axis represents moneyness buckets ranging from deep out-of-the-money puts to deep out-of-the-money calls.

Technical. Each cell shows the implied volatility at the given moneyness bucket for 6-month expiries, obtained via interpolation across strikes and maturities for the selected asset, exchange, and quote currency. The map is built from out-of-the-money options only, with strikes in the same moneyness bucket aggregated by open-interest weighting.