What will the Ethereum implied volatility Index hit by May 31?

Ethereum implied volatility index by May 31 will take one of the specified upside or downside threshold outcomes. Participants value the index level at the May 31 deadline, and settlements follow the chosen outcome as stated by each market: the index hitting or exceeding a target for upside markets, or falling to or below a target for downside markets. The rules rely on the May 31 observation window and the index data source used by the market set.