The commodity volatility complex — CBOE OVX (crude oil implied vol) and GVZ (gold implied vol) alongside 21-day realized volatility for crude and gold.
How to read Where energy/metals vol sits now, and whether options screen rich vs recently-delivered moves (implied above realized = insurance bid). A present-state vol level.
Descriptive present-state vol — the variance-risk-premium→returns literature (implied-minus-realized as a return predictor) is a forecast and is NOT built here. FX-style commodity vol term-structure is deferred.