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The below pic is from the book "Trading Volatility" by colin bennett

Excel sheet of my working

IV1 = IV of far month.

IV2 - IV of near month.

f(1,2) = Forward volatility between the two expiries.

dx = difference between Strike volatility and ATMf volatility of IV2 column.

As per the method given by the author "constant smile rule", does the "Fwd_skew" column in my working represent the 'forward volatility skew' at the given time of the moment.

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