{
  "symbol": "SMR",
  "company": "NuScale Power Corporation",
  "generated_at": "2026-06-24T07:36:52.786Z",
  "event_count": 5,
  "events": [
    {
      "type": "pipeline_event",
      "ts": "2026-06-11T13:37:08.815Z",
      "stage": "scout",
      "outcome": "no_setup",
      "reason": null,
      "trigger": "wheel_hunter top-1 · score 63 · IV ~13% · ann yield ~71.7% on $8 P (35d) · OI 3307 · MOS vs 200DMA 62.8%",
      "source": "wheel_hunter"
    },
    {
      "type": "scout_dossier",
      "ts": "2026-06-11T13:37:08.773Z",
      "summary": "SMR presents an apparently rich premium environment (queue meta claimed ~71% ann. yield on $8 P) but collapses under scrutiny. The stock collapsed from ~$53 (2025 Oct high) to $9.18 currently — a -78% drawdown — yet the options data shows catastrophic liquidity deterioration: most strikes return bid=0, ask=0 across multiple expiries, meaning no real market exists at those prices. For the July-17 35-DTE window specifically, earnings print on August 6 (2026-08-06) falls INSIDE the expiry window by ~2 weeks — IV crush from a -$0.125 EPS miss would devastate any short premium position. The $8P with OI=3307 shows last=$0.55 but bid/ask=0/0, indicating that mid-price is not executable at scale; true fill price likely worse due to wide effective spread on an illiquid name. SMR fundamentals are severely stressed: -$162M annual FCF burn, negative forward P/E of -13.7x, ~19% short interest, and only $890M cash against ongoing operations — assignment risk at $8 strike implies holding a deeply distressed nuclear tech company with no signed commercial contract yet. The 200DMA sits at $21.36; current price is 57% below it. While IV of ~12.5% appears 'rich' in absolute terms relative to the stock's prior $53 price regime, this reflects historically compressed realized vol as the stock has stabilized near multi-year lows — not elevated future uncertainty that benefits an option seller.",
      "verdict": "no_setup",
      "confidence": 3,
      "tool_calls": 11,
      "walltime_min": 6,
      "debug_path": "dossiers/2026-06-11-SMR.wheel.scout.debug.json"
    },
    {
      "type": "scout_dossier",
      "ts": "2026-06-10T17:00:54.503Z",
      "summary": "{\"symbol\":\"SMR\",\"company\":\"NuScale Power Corporation\",\"investigation_summary\":\"NuScale Power (SMR) is a pre-commercial small modular reactor developer whose only NRC-approved U.S. SMR design has failed to translate into any binding customer contracts after years of trying. The company burned $315M in operating cash in Q1 2026 alone on near-zero revenue ($565K), holding ~$890M in cash against a qua",
      "verdict": "unparseable",
      "tool_calls": 20,
      "walltime_min": 17,
      "debug_path": "dossiers/2026-06-10-SMR.scout.debug.json"
    },
    {
      "type": "analyst_decision",
      "ts": "2026-06-03T02:41:23.318Z",
      "skip": true,
      "reason": "Anti-signals for going-concern risk and aggressive dilution (ATM program + recent secondary) combined with zero commercial revenue and accelerating cash burn make the risk profile untenable. The 20/100 score falls well below the publish/paper-track threshold, and the thesis relies on unproven catalysts rather than priced-in fundamental edge.",
      "score": 20,
      "breakdown": {
        "smart_money": 0,
        "options_flow": 6,
        "catalyst": 8,
        "mispricing": 0,
        "quality": 0,
        "technical": 6
      },
      "debug_path": "drafts/2026-06-03-SMR.analyst.debug.json"
    },
    {
      "type": "scout_dossier",
      "ts": "2026-06-03T02:40:42.568Z",
      "summary": "NuScale is the only U.S. SMR company with an NRC-approved design (both a 50-MWe DCA and a 77-MWe SDA approved in May 2025), yet it has no signed commercial NPM contract as of Q1 2026. The stock has collapsed ~76% from its $57 peak to ~$14, driven by cash burn acceleration (-$315M operating outflows in Q1 alone vs -$22.7M YoY) and the termination of the UAMPS/CFPP project. Multiple near-term catalysts exist: South Korea investment negotiations reportedly advancing (per Fool, June 2026), a potential TVA-ENTRA1 framework agreement for up to 6 GW across six sites (potential $60B+ pipeline per management commentary), Romania RoPower FID expected in 2026, and the August 6 earnings call. All recent insider Form 4s were RSU grants at $0 cost basis — no open-market buys from CEO/CFO. The options market shows heavily bullish call skew (66% directional bias toward calls), with ATM IV ~120-127%. Cash runway of ~$890M is substantial but depleting fast.",
      "verdict": "promising",
      "confidence": 5,
      "tool_calls": 24,
      "walltime_min": 29,
      "debug_path": "dossiers/2026-06-03-SMR.scout.debug.json"
    }
  ],
  "lessons": [],
  "chart_signal": {
    "ticker": "SMR",
    "call": "SELL",
    "confidence": 2,
    "score": -5,
    "factors": {
      "below_200dma": "-2",
      "below_50dma": "-1",
      "momentum_strong_down": "-2 (-73.8%)",
      "rsi_neutral": "0 (48.4)",
      "macd_above_signal": "+1",
      "recent_macd_bullish_cross": "+1 (1d ago)",
      "broken_below_high": "-2 (-79.7% from high)"
    },
    "summary": "SELL (score -5) · 12-1 mom -73.8% · RSI 48.4 · below_both · -79.7% from high",
    "last_close": 10.86,
    "one_month_ago_close": 11.33,
    "twelve_month_ago_close": 43.24,
    "twelve_one_momentum_pct": -73.8,
    "rsi_14": 48.4,
    "ma_stack": "below_both",
    "from_period_high_pct": -79.67,
    "period_high": 53.43,
    "price_targets": {
      "bear": 7,
      "fair": 12.61,
      "bull": 61.44,
      "bear_return_pct": -35.5,
      "fair_return_pct": 16.1,
      "bull_return_pct": 465.8,
      "method": "street_targets ⨯ chart_floors",
      "street": {
        "target_low": 7,
        "target_mean": 15.35714,
        "target_high": 25,
        "analyst_count": 14
      }
    },
    "generated_at": "2026-06-24T07:36:52.781Z"
  }
}