Analyze the volatility surface for an underlying: 1. ATM Volatility Term Structure: - ATM IV by expiration (1W, 1M, 3M, 6M, 1Y) - Term structure shape (contango/backwardation) - Comparison to historical norm - Event-driven bumps 2. Skew Analysis: - 25-delta put-call skew by expiry - Skew richness vs. history - Skew change (1W, 1M) - Risk reversal pricing 3. Smile Characteristics: - Curvature (OTM puts vs. OTM calls) - Tail risk pricing - Wing steepness 4. Volatility Surface Comparison: - Current vs. 1 week ago - Current vs. 1 month ago - Current vs. pre-event 5. Realized vs. Implied: - RV/IV ratio by tenor - Historical vol selling profitability - Forward starting vol analysis 6. Trade Ideas: - Calendar spread opportunities (term structure trades) - Skew trades (risk reversals, put spreads vs. calls) - Volatility mean reversion trades - Event vol trades 7. Key Dates: - Earnings date - Ex-dividend date - Other scheduled events Output: Vol surface summary with specific trade recommendations.