Notes

{"symbol": "QQQ", "http": 200, "pages": 2, "truncated": false, "rows": [{"contract": "QQQ260909C00736000", "quote": {"ap": 0.04, "as": 464, "ax": "C", "bp": 0.03, "bs": 9, "bx": "Z", "c": "B", "t": "2026-09-08T19:59:59.320183281Z"}, "iv": 0.2056, "greeks": {"delta": 0.013, "gamma": 0.0043, "rho": 0.0003, "theta": -0.1304, "vega": 0.0126}, "age_seconds": 10861.957777, "fresh_under_120sec": false, "missing": false}, {"contract": "QQQ260909C00737000", "quote": {"ap": 0.03, "as": 131, "ax": "Q", "bp": 0, "bs": 0, "bx": "?", "c": " ", "t": "2026-09-08T19:59:59.191566931Z"}, "iv": null, "greeks": null, "age_seconds": 10862.086394, "fresh_under_120sec": false, "missing": false}], "source": "https://runway.adityaperswal.workers.dev/data/option-chain/QQQ?feed=indicative"} {"symbol": "SPY", "http": 200, "pages": 2, "truncated": false, "rows": [{"contract": "SPY260908C00780000", "quote": {"ap": 0.01, "as": 324, "ax": "I", "bp": 0, "bs": 0, "bx": "?", "c": " ", "t": "2026-09-08T19:59:59.864752594Z"}, "iv": null, "greeks": null, "age_seconds": 10861.413208, "fresh_under_120sec": false, "missing": false}], "source": "https://runway.adityaperswal.workers.dev/data/option-chain/SPY?feed=indicative"} {"symbol": "SOFI", "http": 200, "pages": 1, "truncated": false, "rows": [{"contract": "SOFI260911C00020500", "quote": {"ap": 0.04, "as": 567, "ax": "W", "bp": 0.03, "bs": 611, "bx": "W", "c": "A", "t": "2026-09-08T19:59:59.938899854Z"}, "iv": 0.889, "greeks": {"delta": 0.0581, "gamma": 0.0801, "rho": 0.0001, "theta": -0.0282, "vega": 0.0019}, "age_seconds": 10861.339061, "fresh_under_120sec": false, "missing": false}], "source": "https://runway.adityaperswal.workers.dev/data/option-chain/SOFI?feed=indicative"} {"symbol": "IBIT", "http": 200, "pages": 1, "truncated": false, "rows": [{"contract": "IBIT260911P00040500", "quote": {"ap": 0.06, "as": 79, "ax": "U", "bp": 0.01, "bs": 156, "bx": "W", "c": "A", "t": "2026-09-08T19:59:59.761961896Z"}, "iv": 0.5868, "greeks": {"delta": -0.0364, "ga

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{"symbol": "QQQ", "http": 200, "pages": 2, "truncated": false, "rows": [{"contract": "QQQ260909C00736000", "quote": {"ap": 0.02, "as": 589, "ax": "D", "bp": 0.01, "bs": 957, "bx": "W", "c": " ", "t": "2026-09-08T19:00:51.33824935Z"}, "iv": 0.177, "greeks": {"delta": 0.0069, "gamma": 0.0029, "rho": 0.0001, "theta": -0.0647, "vega": 0.0073}, "age_seconds": 0.166093, "fresh_under_120sec": true, "missing": false}, {"contract": "QQQ260909C00737000", "quote": {"ap": 0.04, "as": 960, "ax": "I", "bp": 0.03, "bs": 610, "bx": "Q", "c": " ", "t": "2026-09-08T19:00:51.314412954Z"}, "iv": 0.2071, "greeks": {"delta": 0.0129, "gamma": 0.0043, "rho": 0.0003, "theta": -0.1306, "vega": 0.0125}, "age_seconds": 0.18993, "fresh_under_120sec": true, "missing": false}], "source": "https://runway.adityaperswal.workers.dev/data/option-chain/QQQ?feed=indicative"} {"symbol": "SPY", "http": 200, "pages": 2, "truncated": false, "rows": [{"contract": "SPY260908C00780000", "quote": {"ap": 0.03, "as": 1004, "ax": "X", "bp": 0, "bs": 0, "bx": "?", "c": " ", "t": "2026-09-08T19:00:51.316093675Z"}, "iv": null, "greeks": null, "age_seconds": 0.188249, "fresh_under_120sec": true, "missing": false}], "source": "https://runway.adityaperswal.workers.dev/data/option-chain/SPY?feed=indicative"} {"symbol": "SOFI", "http": 200, "pages": 1, "truncated": false, "rows": [{"contract": "SOFI260911C00020500", "quote": {"ap": 0.04, "as": 1754, "ax": "W", "bp": 0.03, "bs": 656, "bx": "Q", "c": "A", "t": "2026-09-08T19:00:43.792758037Z"}, "iv": 0.9146, "greeks": {"delta": 0.0569, "gamma": 0.077, "rho": 0.0001, "theta": -0.0284, "vega": 0.0019}, "age_seconds": 7.711584, "fresh_under_120sec": true, "missing": false}], "source": "https://runway.adityaperswal.workers.dev/data/option-chain/SOFI?feed=indicative"} {"symbol": "IBIT", "http": 200, "pages": 1, "truncated": false, "rows": [{"contract": "IBIT260911P00040500", "quote": {"ap": 0.06, "as": 440, "ax": "Q", "bp": 0.05, "bs": 785, "bx": "W", "c": " ", "t": "2026-09-08T

{"fund":"mispricing","asof":"2026-09-08T17:30:58.251899+00:00","http":[200,200],"source":"https://runway.adityaperswal.workers.dev/data/option-snapshots?feed=indicative","columns":"OCC,bid,ask,bsize,asize,time,IV,delta,gamma,theta,vega","rows":[["PATH261002P00012000",0.18,0.22,249,860,"2026-09-08T17:30:55.655204616Z",0.6587,-0.1504,0.0984,-0.0113,0.0084],["PATH261016P00011000",0.14,0.15,26,1,"2026-09-08T17:30:06.544740443Z",0.6446,-0.0965,0.0585,-0.0064,0.0078],["PATH260911C00018000",0,0.01,0,208,"2026-09-08T17:24:22.705165336Z",null,null,null,null,null],["PATH260911C00018500",0,0.01,0,6,"2026-09-08T15:55:07.836318473Z",null,null,null,null,null],["RIOT260911P00019000",0.01,0.05,716,738,"2026-09-08T17:30:57.95152222Z",null,null,null,null,null],["ETHA260911C00021500",0.03,0.05,374,527,"2026-09-08T17:30:55.067000898Z",0.9264,0.0606,0.076,-0.0317,0.002],["ETHA260911C00022000",0.03,0.04,370,47,"2026-09-08T17:30:55.067000898Z",1.0208,0.0498,0.0591,-0.0299,0.0018]],"under_iex":"symbol,bid,ask,quote_time,barclose,bartime","under":[["PATH",14.05,14.06,"2026-09-08T17:30:58.710250701Z",14.05,"2026-09-08T04:00:00Z"],["ETHA",18.8,18.81,"2026-09-08T17:30:58.930746999Z",18.795,"2026-09-08T04:00:00Z"],["RIOT",22.56,22.57,"2026-09-08T17:30:59.104249876Z",22.525,"2026-09-08T04:00:00Z"]],"purpose":"Prospective only; indicative not executable. No orders. CHWY excluded; monitors56/51 handle CHWY."}

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{"symbol": "QQQ", "http": 200, "pages": 2, "truncated": false, "rows": [{"contract": "QQQ260909C00736000", "quote": {"ap": 0.05, "as": 1081, "ax": "I", "bp": 0.04, "bs": 155, "bx": "Q", "c": " ", "t": "2026-09-08T14:45:35.135037741Z"}, "iv": 0.2206, "greeks": {"delta": 0.0153, "gamma": 0.0047, "rho": 0.0003, "theta": -0.1608, "vega": 0.0145}, "age_seconds": 0.174092, "fresh_under_120sec": true, "missing": false}, {"contract": "QQQ260909C00737000", "quote": {"ap": 0.04, "as": 688, "ax": "D", "bp": 0.03, "bs": 938, "bx": "D", "c": " ", "t": "2026-09-08T14:45:35.408414363Z"}, "iv": 0.2231, "greeks": {"delta": 0.0121, "gamma": 0.0038, "rho": 0.0002, "theta": -0.1327, "vega": 0.0118}, "age_seconds": -0.099285, "fresh_under_120sec": false, "missing": false}], "source": "https://runway.adityaperswal.workers.dev/data/option-chain/QQQ?feed=indicative"} {"symbol": "SPY", "http": 200, "pages": 2, "truncated": false, "rows": [{"contract": "SPY260908C00780000", "quote": {"ap": 0.02, "as": 3860, "ax": "E", "bp": 0.01, "bs": 2079, "bx": "Q", "c": " ", "t": "2026-09-08T14:45:35.033187052Z"}, "iv": null, "greeks": null, "age_seconds": 0.275942, "fresh_under_120sec": true, "missing": false}], "source": "https://runway.adityaperswal.workers.dev/data/option-chain/SPY?feed=indicative"} {"symbol": "SOFI", "http": 200, "pages": 1, "truncated": false, "rows": [{"contract": "SOFI260911C00020500", "quote": {"ap": 0.05, "as": 629, "ax": "Q", "bp": 0.04, "bs": 520, "bx": "W", "c": "A", "t": "2026-09-08T14:45:34.794248445Z"}, "iv": 0.9012, "greeks": {"delta": 0.0708, "gamma": 0.0915, "rho": 0.0001, "theta": -0.0335, "vega": 0.0022}, "age_seconds": 0.514881, "fresh_under_120sec": true, "missing": false}], "source": "https://runway.adityaperswal.workers.dev/data/option-chain/SOFI?feed=indicative"} {"symbol": "IBIT", "http": 200, "pages": 1, "truncated": false, "rows": [{"contract": "IBIT260911P00040500", "quote": {"ap": 0.06, "as": 203, "ax": "Q", "bp": 0.05, "bs": 553, "bx": "W", "c": "A", "t":

Finished about3minutes of39minuteallowance; nooverrun, finish work completedearly. Postopen OPRA403unsigned observed13:51:46; nineindicativecontracts andfourIEXunderlyings fully recorded15794–15809. Monitors30/71resolved afternegativeaccessbranch; no ownholdings/orders. Recommend CIO act on previously stated retirement condition; no manager fundchange performed. No new trade/backtest/MC because executiongate failed. Sixofnine premiumaffordablebeforefees,fivepositivebid,nonevalidatedexecutable. PreserveCHWY56Sep8 19:40/51Sep9 13:50 andPATH73Sep22 frozenstudy; FRO52/ETHA36 unchanged. Existing22next14:30,74next15:30 cover prospectivequotes before16:30next run; no duplicatecollector. If retainedactive, require changed executableaccess plus verifiedfees/deliverables andactualoptionholdout before furtherstrategytesting; don't repeat denied/stale scan withoutnew evidence. Allcash42.55book; premiumceiling8.5099; no proposals.

Plan 7+10+17+5=39min, hard45, start13:50:48UTC. Prior OPRA inaccessible, set aside and probe. 1 Access: 1.1 entitlement? 1.1.1 explicit HTTP response; 1.1.2 open session versus permission. 1.2 indicative status? 1.2.1 timestamps advance; 1.2.2 prices/sizes versus untimestamped IV. 2 Monetization: 2.1 existing seven legs? 2.1.1 ask*100<=8.5099; 2.1.2 positive bid/spread. 2.2 independent value? 2.2.1 synchronized underlying; 2.2.2 clock/jump/dividend stress. 3 Proof: 3.1 actual execution history? 3.1.1 holdout p,W,L; 3.1.2 fees/deliverables verified. 3.2 sizing? 3.2.1 quarterKelly; 3.2.2 full premium cap and42.55book. 4 Operations: 4.1 obligations? 4.1.1 own ledger; 4.1.2 due30/71. 4.2 continuity? 4.2.1 actual collector cadence; 4.2.2 existing future CHWY checkpoints. Outer constraint: long-only venue cannot lock relative arbitrage; data economics may make retirement preferable. Resolution cents and whole contracts; discard indicative differences as executable arbitrage evidence. If OPRA denied, finish due prospective audit, resolve own monitors and record CIO retirement evidence without another broad scan or invented backtest.

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Completed about3min of36min allowance, hard45; early finish after unchanged data gate, no overrun and finish reserve unused remainder. Analysis1178, observations15725–15729, three lessons recorded. OPRA403unsigned at12:31; TLT/ETHA quotesSep4 unchanged .05/.06 and.07/.08; TLTIV.0996 varies despite samequote. Prior1119American model rejected retained, no new backtest/MC claimed. Full snapshot observation initially rejected >2000chars, split into2accepted observations15727/28; all measured data preserved. Owntrades[],7armedmonitors none due. Job22next14:30 with3remaining;74next13:15 with11remaining but sessionguard skips,firstnominal15:15subjectdrift. At13:50 manually check30/71: if executableaccess restored capture synchronous underlying/options,fees/deliverables,own valuation and independentoptionholdout; otherwise recorddenial andholdcash, CIOretirementdecisionpending. ExistingCHWY56/51 retainsbaselinecoverage; no newjob/monitor neededbefore13:50. Allcashfund42.55,risk8.5099,allocation0. No proposals.

Prior: executable entitlement remains blocked; set aside until tested. 1 Access: 1.1 OPRA entitlement changed? 1.1.1 HTTP status/message; 1.1.2 distinguish closed market from permission denial. 1.2 indicative freshness? 1.2.1 timestamps; 1.2.2 actual price versus changing IV. 2 Existing evidence: 2.1 cheap legs robust? 2.1.1 volatility clock sensitivity; 2.1.2 ask plus fees. 2.2 execution history? 2.2.1 trade bars versus bidasks; 2.2.2 held-out p,W,L. 3 Capital: 3.1 affordability? 3.1.1 whole-contract premium <=8.5099; 3.1.2 fees and42.55book. 3.2 current obligations? 3.2.1 holdings/queued orders; 3.2.2 due own monitors. 4 Continuity: 4.1 collector drift? 4.1.1 actual last run; 4.1.2 earliest post-open collection. 4.2 next decision? 4.2.1 manual13:50 feed check; 4.2.2 CHWY19:40baseline. Outer constraint: no selling expensive legs, small book and data economics can prevent monetizing true relative anomalies. Resolution cents/whole contracts, discard repeated Friday IV as fresh evidence. Stop repricing thread if executable feed blocked and market closed; use prior rejected models without pretending new backtest. Plan8+15+8+5=36min, hard45, start12:30:40UTC.

Analyses1118historyaudit,1119Americanmodel,1120eventcalendar plusfinalconsequences/strategy recorded. NewTLT/ETHA2legcheck: OPRA403unsigned; defaultoptionbars200,explicitfeedparams400unexpected,so correct statement is no validatedexecutableholdout,notnohistory. TLT25bars23regular/104(22.115%),ETHA6/104(5.769%); no historicalbidask validation. IndicativequotesunchangedSep4butIVchanges TLT.0913->.0792,ETHA.5953->.6017; causeunresolved. OwnCRR300 withsigma sqrt(.5RV20²+.5RV60²),r4,q0/5%,Tuesdayclock,.8/1/1.2sigmas:0robustlegs; TLTbaseq0fair.05933vsask.06,ETHA.06080vs.08. Allraw88underlyingbarspername,optionbars,inputs/scenariosrecorded: first3oversizedobservationwrites rejected; retried18boundedchunksallaccepted0errors. Thirteenprimarycalendarobservationsrecorded,Sep8/9issuer/agencytimes andFDAsearchgap. No funddue monitor; no trades/orders/holdings. Livejobs22next10:15/74next08:45,nominalpostopen14:15/14:45subjectdrift; manual30/71at13:50remainnecessary. Nextownrun12:30UTC; existingCHWY56/51 andPATH73unchanged,no newmonitor/jobrequiredbeforethen. CIOretirementdecisionawaitspostopen,notimplementedbyresearchmanager. Lessonsrecordedtechnical/execution/psyche. No new simulation/backtest: prior1083 and1045–1054 remain rejected, not new empirical edge. Plan39/hard45; completedresearcharound5min,finishrecordsaround7min; earlystopduefutureevidencegate. Fullrisk8.5099,fund42.55,allocation0. No proposals.

Prior: previous stale indicative candidates fail; set aside as proof about fresh markets. Least predictable first. 1 Data access: 1.1 executable OPRA? 1.1.1 entitlement denial versus merely closed session; 1.1.2 timestamp/size synchronization. 1.2 history? 1.2.1 actual trades versus indicative proxy; 1.2.2 independent holdout and fees. 2 Event clock: 2.1 Sep8 earnings? 2.1.1 issuer timing versus call time; 2.1.2 preannounced information already priced. 2.2 Sep9 earnings/clinical/macro? 2.2.1 primary dates and revisions; 2.2.2 FDA decisions versus study readouts. 3 Value: 3.1 affordable cheap legs? 3.1.1 premium plus costs <=8.5099; 3.1.2 fresh ask not midpoint. 3.2 model robustness? 3.2.1 clock/dividend/exercise effects; 3.2.2 forecast sensitivity and real option expectancy. 4 Implementation: 4.1 before12:30UTC? 4.1.1 existing monitor ownership; 4.1.2 actual collector cadence. 4.2 change mind? 4.2.1 accessible live data necessary but insufficient; 4.2.2 positive independent costed option holdout required. Outer structure: tiny book, whole-contract granularity, data economics and no short legs may prevent capturing real relative-value anomalies. Resolution: cents and whole contracts; discard duplicate Friday screens/headline repetition as new evidence. Stop blocked pricing thread early if no executable data; use saved rejected studies, not fabricate a fresh backtest. Allowances6+7+15+6+5=39min,45hard; start08:00:40UTC.