{
  "model": "qwen/qwen3.6-35b-a3b",
  "started_at": "2026-06-02T15:50:37.144Z",
  "system_prompt": "You are Catalyst Analyst — the event-rubric scoring stage.\n\nYou receive a catalyst-dossier from Catalyst Scout. Your job is to score it\n0-100 against the CATALYST rubric (DIFFERENT from asymmetric and wheel).\n\nCatalyst-event scoring rubric (100 pts total — for dated binary events):\n  - Catalyst clarity (max 25 pts): is the event dated, named, binary?\n      Dated within 7-45 DTE + named in 8-K or earnings cal = full points.\n      Vague \"expected this quarter\" or >60 DTE = ≤10 pts.\n  - Magnitude edge (max 25 pts): IV-implied vs historical realized move.\n      Implied move > historical average by ≥30% AND structure is debit = market overpaying vol → short-vol angle.\n      Implied move < historical realized by ≥30% AND structure is debit straddle/long premium = market underpaying → long-vol.\n      No edge (implied ≈ realized) = ≤8 pts; reconsider whether to publish.\n  - Direction evidence (max 15 pts): insider P-buys, analyst revisions UP/DOWN, options skew, technicals, news sentiment.\n      ≥3 corroborating signals same direction = full points.\n      Mixed signals = straddle/vol play, not directional.\n  - Structure efficiency (max 15 pts): cost-to-payoff ratio.\n      Breakeven inside implied-move range = full points. Outside = ≤5 pts.\n      Debit spread cheaper than naked long for same payoff at target = full points.\n  - Liquidity (max 10 pts): OI ≥500 + daily volume ≥50 + bid-ask ≤5% of premium = full.\n  - Quality floor (max 10 pts): market cap ≥$500M, price ≥$5, no going-concern, no fraud flags.\n      Sub-5 here means SKIP regardless of other points.\n\nCatalyst sizing bands by score (DEFINED-RISK structures only):\n  80-100: max conf 5, max size 4.0%\n  70- 79: max conf 4, max size 3.0%\n  60- 69: max conf 4, max size 2.0%\n  45- 59: max conf 2, max size 0.0%\n   0- 44: max conf 1, max size 0.0%\n\nNORMAL PUBLISH FLOOR is 60. Scores 45-59 are paper-track only. Cap at 4% even on best setup — binary events can decay to zero.\nAllowed structures: long_call, long_put, straddle, debit_call_spread, debit_put_spread\n\nDECIDE:\n  - If composite score < 45 → skip with reason\n  - If composite score 45-59 → draft a PAPER-TRACKED catalyst idea using the\n    recommended structure only if it is measurable, source-backed, and not\n    blocked by a hard gate\n  - If composite score ≥ 60 → draft a normal catalyst idea using the recommended structure\n  - If structure is not in {long_call, long_put, straddle, debit_call_spread, debit_put_spread} → skip\n  - If anti_signals_present contains a HARD blocker (fraud, going-concern,\n    accounting irregularity, failed quality floor, bad liquidity, no valid\n    contract), skip. Risk warnings such as parabolic price action, rich IV,\n    or sell-the-news risk should be scored and can become paper-track.\n  - If quality_floor.passes_floor is false → skip\n  - If DTE to catalyst is < 0 or > 45 → skip. Very near-term events\n    (0-4 DTE) are allowed only as defined-risk, explicitly time-boxed\n    catalyst setups; prefer paper-track unless the structure is unusually\n    liquid and efficient.\n  - If no candidate contracts have OI ≥200 → skip (illiquid)\n\nPAPER-TRACKING LANE:\n  - draft.paper_track MUST be true\n  - headline MUST begin with \"Paper Track:\"\n  - thesis_short MUST explicitly say this is a paper-tracked event setup,\n    not an actionable recommendation\n  - risk.position_size_pct MUST be 0\n  - confidence MUST be 1 or 2\n  - exit.max_hold_dte MUST be present so Monitor/Reviewer can judge outcome\n  - Do not use paper_track to rescue bad liquidity, failed quality floor,\n    stale catalyst dates, or anti-signal setups. Those still skip.\n\nOUTPUT FORMAT (strict JSON, output ONLY this object — no prose, no fences):\n\nIf skipping:\n{\n  \"skip\": true,\n  \"score\": <num 0-100>,\n  \"score_breakdown\": {\n    \"catalyst_clarity\": <num>,\n    \"magnitude_edge\": <num>,\n    \"direction_evidence\": <num>,\n    \"structure_efficiency\": <num>,\n    \"liquidity\": <num>,\n    \"quality_floor\": <num>\n  },\n  \"reason\": \"Brief reason\"\n}\n\nIf drafting:\n{\n  \"skip\": false,\n  \"score\": <num>,\n  \"score_breakdown\": { ... same six fields },\n  \"draft\": {\n    \"slug\": \"YYYY-MM-DD-symbol-catalyst-keyphrase\",\n    \"paper_track\": <true if score 45-59, otherwise false>,\n    \"symbol\": \"NVDA\",\n    \"company\": \"NVIDIA Corporation\",\n    \"sector\": \"<sector slug or 'unknown'>\",\n    \"risk_class\": \"core\",\n    \"pipeline\": \"catalyst\",\n    \"catalyst_type\": \"earnings\" | \"fda_pdufa\" | \"merger_definitive\" | etc,\n    \"catalyst_date\": \"YYYY-MM-DD\",\n    \"headline\": \"Long X straddle into Y catalyst — implied move Z% vs realized W%\",\n    \"thesis_short\": \"1-2 sentence summary of the event setup and the edge.\",\n    \"thesis_long\": [\n      \"Opening paragraph: what the event is, when, and what the market is pricing.\",\n      \"## The edge\",\n      \"Specific implied-vs-realized magnitude gap OR direction signals that the market is mispricing.\",\n      \"## Structure\",\n      \"Why this specific debit structure (cost, breakeven, max payoff).\",\n      \"## What confirms / kills the thesis\",\n      \"What needs to happen pre-catalyst (e.g., 'IV expansion >15%' or 'analyst raises target ahead of print').\",\n      \"## Risk\",\n      \"Specific: 'event resolves but stock moves less than implied → debit decays to ~30% of paid premium.'\"\n    ],\n    \"structure\": {\n      \"type\": \"long_call\" | \"long_put\" | \"straddle\" | \"debit_call_spread\" | \"debit_put_spread\",\n      \"long_call\":         { \"strike\": <num>, \"expiry\": \"YYYY-MM-DD\", \"debit_target\": <num>, \"max_payoff\": <num | \"uncapped\">, \"breakeven\": <num> },\n      \"long_put\":          { \"strike\": <num>, \"expiry\": \"YYYY-MM-DD\", \"debit_target\": <num>, \"max_payoff\": <num>, \"breakeven\": <num> },\n      \"straddle\":          { \"call_strike\": <num>, \"put_strike\": <num>, \"expiry\": \"YYYY-MM-DD\", \"call_debit\": <num>, \"put_debit\": <num>, \"total_debit\": <num>, \"breakeven_high\": <num>, \"breakeven_low\": <num> },\n      \"debit_call_spread\": { \"long_strike\": <num>, \"short_strike\": <num>, \"expiry\": \"YYYY-MM-DD\", \"net_debit\": <num>, \"max_payoff\": <num>, \"breakeven\": <num> },\n      \"debit_put_spread\":  { \"long_strike\": <num>, \"short_strike\": <num>, \"expiry\": \"YYYY-MM-DD\", \"net_debit\": <num>, \"max_payoff\": <num>, \"breakeven\": <num> }\n    },\n    \"entry\": {\n      \"price_at_idea\": <num>,\n      \"conditions\": \"Enter on a defined pre-catalyst window — e.g., '2-5 days before print, before IV expansion peaks.'\"\n    },\n    \"exit\": {\n      \"primary_target\": \"Exit at 80% of max payoff OR close end-of-day after catalyst regardless of outcome\",\n      \"stop_or_roll\": \"Close if catalyst gets pushed > 2 weeks OR pre-event move exceeds 50% of debit paid\",\n      \"max_hold_dte\": <num — dte to expiry>\n    },\n    \"risk\": {\n      \"bear_case\": \"Specific scenario where structure decays — usually 'event happens, stock barely moves'.\",\n      \"what_breaks_thesis\": \"Catalyst delayed past expiry; pre-empted disclosure ahead of event; outsized IV crush\",\n      \"position_size_pct\": <num — must respect catalyst sizing band for the score>,\n      \"max_loss_per_contract\": <num — equal to net debit>,\n      \"max_loss_note\": \"Max loss = net premium paid (defined-risk debit structure).\"\n    },\n    \"sources\": [ ... pass through from dossier sources ],\n    \"confidence\": 1-5,\n    \"analyst\": \"research-desk\",\n    \"scout_model\": \"minimax/minimax-m2.7\",\n    \"analyst_model\": \"qwen/qwen3.6-35b-a3b\"\n  }\n}\n\nONLY ONE STRUCTURE TYPE. Pick one and only fill that field. Position size\nMUST respect the catalyst sizing band for the score. The headline MUST\nstate the catalyst type and date.\n\nNumeric traceability: every price, strike, debit must come from\ndossier.candidate_contracts. Every implied/realized number must come from\ndossier.implied_vs_realized.",
  "user_prompt": "CURRENT DATE: 2026-06-02. THE YEAR IS 2026.\nDATE RULES — read before writing ANY date:\n  - Every option expiry, earnings date, catalyst date, and DTE you state MUST use the year 2026 or later. Do NOT write 2025 dates — your training prior is stale.\n  - Every option expiry MUST be a real FUTURE date relative to 2026-06-02. Copy expiries verbatim from options_expiries()/the dossier — never infer a year from memory.\n  - Before writing a date, check it: if it is earlier than 2026-06-02, it is WRONG — re-read the live tool output.\n\nCATALYST DOSSIER:\n{\n  \"symbol\": \"AVGO\",\n  \"company\": \"Broadcom Inc.\",\n  \"investigation_summary\": \"Broadcom reports fiscal Q2 earnings after close on June 3 (1 DTE). The catalyst is confirmed and binary — a large-cap semiconductor name that has run +51% over the past 90 days, hitting a new 52-week high of $488.82 intraday on June 2 off Alphabet's $80B AI equity raise news. Implied move via ATM straddle (June 5 expiry) is ~9.0%, which slightly exceeds the historical realized average of 7.2% across four recent quarters — a mild edge favoring premium buyers but not extreme enough to force a straddle over a defined-risk spread. Direction signals are overwhelmingly bullish: Oppenheimer reiterates Buy, Susquehanna/UBS both raised targets to $490, Alphabet's AI spend is directly additive to Broadcom's custom ASIC business, and options flow shows an 84% net dollar call bias with massive OTM call buying at strikes up to $650. The one cautionary flag is an RSI of 74.6 — the stock is deeply overbought into a binary event. Insider Form 4 filings from Henry Samueli show only RSU grants (Code A, not purchases), so no directional insider signal there. Given the magnitude edge (+25% implied vs realized) and near-unanimous bullish alignment across analyst, technical, flow, and news signals — five out of six categories point bullish — a defined-risk debit call spread is the appropriate structure: capture directional upside while hedging against IV crush post-event and protecting against the overbought reversal risk.\",\n  \"verdict\": \"catalyst_setup\",\n  \"confidence_in_data\": 5,\n  \"catalyst\": {\n    \"type\": \"earnings\",\n    \"date\": \"2026-06-03\",\n    \"dte\": 1,\n    \"binary\": true,\n    \"outcome_scenarios\": [\n      \"beat + guidance raise → potential +7% to +12%\",\n      \"in-line/miss → risk of -5% to -9% pullback from overbought level\"\n    ]\n  },\n  \"implied_vs_realized\": {\n    \"implied_move_pct\": 8.98,\n    \"historical_avg_move_pct\": 7.23,\n    \"n_historical_events\": 4,\n    \"magnitude_edge_note\": \"ATM straddle on June 5 expiry (spot ~$481): ATM call mid $21.07 + ATM put mid $22.13 = $43.20 / $481 = 8.98% implied vs historical avg abs move of 7.23% across Q1 2026 through Q2 2025 — market pricing ~24% more vol than realized history suggests, a mild edge for defined-risk spread structures over naked premium.\"\n  },\n  \"direction_signals\": {\n    \"insider_buys_90d\": \"no\",\n    \"analyst_revisions_30d\": \"up\",\n    \"technical_setup\": \"bullish\",\n    \"options_skew\": \"call_skew\",\n    \"news_sentiment\": \"positive\",\n    \"direction_lean\": \"bullish\"\n  },\n  \"structure_recommendation\": \"debit_call_spread\",\n  \"candidate_contracts\": [\n    {\n      \"structure\": \"debit_call_spread\",\n      \"expiry\": \"2026-06-05\",\n      \"dte\": 2,\n      \"long_strike\": 480,\n      \"short_strike\": 510,\n      \"long_mid\": 21.07,\n      \"short_mid\": 9.75,\n      \"net_debit\": 11.32,\n      \"max_payoff\": 30,\n      \"breakeven\": 491.32,\n      \"breakeven_distance_pct\": 2.15,\n      \"open_interest_long\": 3070,\n      \"open_interest_short\": 639,\n      \"bid_ask_spread_pct\": 1.24\n    },\n    {\n      \"structure\": \"debit_call_spread\",\n      \"expiry\": \"2026-06-05\",\n      \"dte\": 2,\n      \"long_strike\": 475,\n      \"short_strike\": 505,\n      \"long_mid\": 23.2,\n      \"short_mid\": 12.23,\n      \"net_debit\": 10.97,\n      \"max_payoff\": 30,\n      \"breakeven\": 485.97,\n      \"breakeven_distance_pct\": 1.03,\n      \"open_interest_long\": 2945,\n      \"open_interest_short\": 465,\n      \"bid_ask_spread_pct\": 0.85\n    },\n    {\n      \"structure\": \"debit_call_spread\",\n      \"expiry\": \"2026-06-05\",\n      \"dte\": 2,\n      \"long_strike\": 485,\n      \"short_strike\": 515,\n      \"long_mid\": 18.77,\n      \"short_mid\": 7.55,\n      \"net_debit\": 11.22,\n      \"max_payoff\": 30,\n      \"breakeven\": 496.22,\n      \"breakeven_distance_pct\": 3.16,\n      \"open_interest_long\": 1222,\n      \"open_interest_short\": 1190,\n      \"bid_ask_spread_pct\": 1.53\n    }\n  ],\n  \"quality_floor\": {\n    \"market_cap\": 2277376000000,\n    \"price\": 481,\n    \"going_concern\": false,\n    \"passes_floor\": true\n  },\n  \"anti_signals_present\": [\n    \"RSI(14) at 74.6 — deeply overbought; elevated reversal risk into binary event\",\n    \"Stock +21% in just the past 3 weeks (May 12: $419 → June 2: $481); premium entry point\"\n  ],\n  \"key_risks\": [\n    \"RSI overbought at 74.6 — post-earnings gap fill risk is high given recent run\",\n    \"Earnings after market close June 3 means overnight gap risk exists in both directions\",\n    \"Implied vol rich vs realized history (8.98% vs 7.23%) means long premium structures face IV crush post-event\",\n    \"AI custom chip demand concentration risk — six major customers = low diversification\",\n    \"High debt-to-equity of 82.7 and elevated forward P/E of 25.9x leaves little error room on a miss\"\n  ],\n  \"sources\": [\n    {\n      \"label\": \"Earnings calendar confirmation\",\n      \"url\": \"https://earnings.com/AVGO\"\n    },\n    {\n      \"label\": \"Oppenheimer Buy reiteration ahead of earnings\",\n      \"url\": \"https://www.thestreet.com/investing/stocks/oppenheimer-reiterates-buy-broadcom-ahead-of-earnings\"\n    },\n    {\n      \"label\": \"Susquehanna/UBS target raises to $490\",\n      \"url\": \"https://finance.yahoo.com/markets/stocks/articles/susquehanna-ubs-raise-broadcom-avgo-230433703.html\"\n    },\n    {\n      \"label\": \"Alphabet $80B AI raise — Broadcom direct beneficiary\",\n      \"url\": \"https://investorshub.advfn.com/market-news/article/29524/broadcom-advances-as-alphabets-80-billion-ai-capital-raise-highlights-infrastructure-demand-avgo\"\n    }\n  ]\n}\n\nScore this against the CATALYST rubric. If composite < 45, skip. Otherwise\ndraft a defined-risk catalyst idea. Output ONLY the JSON object described\nin the system prompt. Do NOT include <think>...</think> blocks — pure JSON only.",
  "completions": [
    {
      "ts": "2026-06-02T15:53:11.073Z",
      "raw_content": "<think>The user wants me to score a catalyst dossier for AVGO (Broadcom) against the CATALYST rubric and output a JSON object.\nLet's go through the rubric step-by-step.\n\n1. Catalyst clarity (max 25 pts):\n   - Dated: June 3, 2026 (1 DTE). The prompt says \"Dated within 7-45 DTE + named in 8-K or earnings cal = full points.\"\n   - Here DTE is 1. The rule says: \"Dated within 7-45 DTE ... = full points. Vague ... or >60 DTE = ≤10 pts.\"\n   - Wait, the scoring rule says: \"Dated within 7-45 DTE + named in 8-K or earnings cal = full points.\"\n   - But the DTE is 1. The rule also says: \"If DTE to catalyst is < 0 or > 45 → skip. Very near-term events (0-4 DTE) are allowed only as defined-risk, explicitly time-boxed catalyst setups; prefer paper-track unless the structure is unusually liquid and efficient.\"\n   - So DTE is 1. I'll score it lower than full, maybe 15/25 or 10/25 because it's very near-term (1 DTE). Let's give it 15 points for clarity (it's dated and binary, just very near).\n   - Actually, the rubric says: \"Dated within 7-45 DTE + named in 8-K or earnings cal = full points. Vague 'expected this quarter' or >60 DTE = ≤10 pts.\" Since it's 1 DTE, it's not in 7-45. I'll give it 15.\n\n2. Magnitude edge (max 25 pts):\n   - Implied move: 8.98%\n   - Historical realized: 7.23%\n   - Implied > realized by ~24%. Not ≥30%.\n   - Rule: \"Implied move > historical average by ≥30% AND structure is debit = market overpaying vol → short-vol angle. Implied move < historical realized by ≥30% AND structure is debit straddle/long premium = market underpaying → long-vol. No edge (implied ≈ realized) = ≤8 pts; reconsider whether to publish.\"\n   - Here it's ~24% higher. Not meeting ≥30% threshold. It's close to \"No edge\". I'll score it 10/25.\n\n3. Direction evidence (max 15 pts):\n   - Signals: Analyst revisions UP (Oppenheimer, Susquehanna, UBS), Options skew (call skew, 84% net dollar call bias), News sentiment (positive, Alphabet AI spend), Technicals (bullish, though overbought).\n   - That's 4 corroborating signals. Rule: \"≥3 corroborating signals same direction = full points.\"\n   - Score: 15/15.\n\n4. Structure efficiency (max 15 pts):\n   - Structure: debit_call_spread.\n   - Candidate 2: long 475, short 505, net debit 10.97, max payoff 30, breakeven 485.97.\n   - Implied move is ~9.0% of $481 = ~$43.29. Range: $437.71 to $524.29.\n   - Breakeven 485.97 is inside the implied move range ($437-$524).\n   - Debit spread cheaper than naked long for same payoff at target = full points.\n   - Score: 15/15.\n\n5. Liquidity (max 10 pts):\n   - OI ≥500 + daily volume ≥50 + bid-ask ≤5% of premium.\n   - Candidate 2 OI long: 2945, short: 465. Bid-ask spread: 0.85% (≤5%).\n   - Meets criteria. Score: 10/10.\n\n6. Quality floor (max 10 pts):\n   - Market cap: $2.27T (≥$500M). Price: $481 (≥$5). No going-concern. Passes floor: true.\n   - Score: 10/10.\n\nTotal Score: 15 + 10 + 15 + 15 + 10 + 10 = 75.\nWait, let's re-evaluate Magnitude Edge. The rubric says \"No edge (implied ≈ realized) = ≤8 pts\". 8.98% vs 7.23% is a 24% difference. I'll give it 12 pts to be fair, or stick to 10. Let's say 12.\nTotal: 15+12+15+15+10+10 = 77.\nSizing band for 70-79: max conf 4, max size 3.0%.\nSince DTE is 1, the instructions say: \"Very near-term events (0-4 DTE) are allowed only as defined-risk, explicitly time-boxed catalyst setups; prefer paper-track unless the structure is unusually liquid and efficient.\"\nThe structure is a debit call spread (defined-risk). It is liquid. I will draft it as a normal track but note the near-term nature, or follow the paper-track lane if I think it's safer. The prompt says \"prefer paper-track unless...\". I'll stick to normal draft but keep confidence at 3 or 4, or maybe paper-track to be safe? Actually, the rule says \"If composite score ≥ 60 → draft a normal catalyst idea\". I will draft normally.\nWait, the DTE is 1 day to earnings (June 3), and the option expiry is June 5 (2 DTE). That's fine.\nLet's check the scoring again carefully.\nCatalyst clarity: DTE 1. The rubric says \"Dated within 7-45 DTE ... = full points.\" Since it's 1 DTE, it fails the 7-45 window. I'll score it 10/25.\nMagnitude edge: 24% premium. Not ≥30%. I'll score 10/25.\nDirection: 15/15.\nStructure: 15/15.\nLiquidity: 10/10.\nQuality: 10/10.\nTotal: 70.\nSizing band 70-79: max conf 4, max size 3.0%.\nI will draft it normally.\n\nLet's construct the JSON carefully.\nSymbol: AVGO\nCompany: Broadcom Inc.\nSector: Technology / Semiconductors\nCatalyst type: earnings\nCatalyst date: 2026-06-03\nHeadline: Long AVGO debit call spread into June 3 earnings — implied move 9.0% vs realized 7.2%\nThesis short: Broadcom's June 3 earnings are binary with overwhelmingly bullish directional signals, but implied volatility is rich; a defined-risk debit call spread captures upside while hedging IV crush and overbought reversal risk.\nThesis long:\n- Opening: Broadcom (AVGO) reports fiscal Q2 earnings after market close on June 3, 2026. The market is pricing an ~9.0% implied move via the ATM straddle, which exceeds the historical average realized move of 7.23% by ~24%.\n- The edge: Five of six directional signals align bullish: analyst upgrades (Oppenheimer, Susquehanna, UBS to $490), 84% net dollar call bias in options flow, positive news sentiment tied to Alphabet’s $80B AI capex, and a technically bullish setup (despite RSI overbought conditions). The 24% vol premium makes long premium expensive, favoring a defined-risk spread.\n- Structure: A June 5, 2026 debit call spread (long 475 / short 505) costs a net debit of $10.97 for a $30 max payoff. The breakeven at $485.97 sits comfortably within the implied move range ($438–$524), offering asymmetric payoff if the stock gaps up on beat + guidance raise.\n- What confirms / kills the thesis: Pre-earnings IV expansion >10% would weaken the edge; a pre-emptive guidance leak or missed consensus would trigger the overbought reversal risk.\n- Risk: Event resolves but stock moves less than implied → debit decays rapidly. Post-earnings gap fill from RSI 74.6 overextension could cap upside despite a beat.\nStructure: debit_call_spread. Fill fields accordingly.\nEntry: Enter 1-2 days before close on June 2 or early June 3 pre-market, before IV expansion peaks.\nExit: Exit at 80% of max payoff OR close end-of-day after catalyst regardless of outcome. Max hold DTE: 2.\nRisk: bear_case, what_breaks_thesis, position_size_pct: 3.0 (or 2.0 to be conservative given DTE 1), max_loss_per_contract: 10.97, max_loss_note.\nConfidence: 3 (near-term binary event).\nSources: pass through.\nCheck formatting rules:\n- \"ONLY ONE STRUCTURE TYPE. Pick one and only fill that field.\"\n- \"Position size MUST respect the catalyst sizing band for the score.\" (70-79 band -> 3.0%)\n- \"headline MUST state the catalyst type and date.\"\n- \"Numeric traceability: every price, strike, debit must come from dossier.candidate_contracts.\"\n- DTE to catalyst is 1. The prompt says \"Very near-term events (0-4 DTE) are allowed only as defined-risk... prefer paper-track unless the structure is unusually liquid and efficient.\" I'll draft as normal but maybe lower confidence to 3. Or I could paper track it. The prompt says \"If composite score ≥ 60 → draft a normal catalyst idea\". I will follow that.\n- Check DTE rule: \"If DTE to catalyst is < 0 or > 45 → skip.\" It's 1, so allowed.\n- Check liquidity: OI ≥ 500. Candidate 2 has 2945 long OI. Meets.\n- Check quality floor: passes_floor true.\n- Score breakdown: catalyst_clarity: 10, magnitude_edge: 10, direction_evidence: 15, structure_efficiency: 15, liquidity: 10, quality_floor: 10. Total: 70.\nWait, magnitude edge note says \"Implied move > historical average by ≥30% ... = short-vol angle.\" Here it's 24%. So it's not a strong edge. I'll score it 10.\nCatalyst clarity: DTE 1. Rubric says \"Dated within 7-45 DTE ... = full points.\" Since it's outside, ≤10 pts. I'll give 10.\nTotal 70. Fits 70-79 band. Max size 3.0%.\nI will draft it normally.\n\nLet's verify the JSON structure matches the prompt exactly.\n{\n  \"skip\": false,\n  \"score\": 70,\n  \"score_breakdown\": { ... },\n  \"draft\": { ... }\n}\nAll fields match.\nI will carefully construct the JSON now.\nOne detail: \"breakeven_distance_pct\" in dossier is 1.03 for the 475/505 spread. I'll use that or just the numbers.\nThe prompt says: \"breakeven\": <num>\nI'll put 485.97.\nMax payoff: 30.\nNet debit: 10.97.\nExpiry: 2026-06-05.\nLong strike: 475, short strike: 505.\nAll good.\nCheck confidence band: 70-79 -> max conf 4. I'll use 3.\nCheck position size: 3.0%.\nCheck paper_track: false.\nCheck headline: \"Long AVGO debit call spread into June 3 earnings — implied move 9.0% vs realized 7.2%\"\nThesis short: \"Broadcom's June 3 earnings are binary with overwhelmingly bullish directional signals, but implied volatility is rich; a defined-risk debit call spread captures upside while hedging IV crush and overbought reversal risk.\"\nThesis long: array of strings.\nExit: primary_target, stop_or_roll, max_hold_dte: 2.\nRisk: bear_case, what_breaks_thesis, position_size_pct: 3.0, max_loss_per_contract: 10.97, max_loss_note.\nSources: from dossier.\nConfidence: 3.\nAnalyst: research-desk.\nScout/Analyst models: as in prompt.\nAll set.\nI will generate the JSON.\nOne minor point: The prompt says \"If DTE to catalyst is < 0 or > 45 → skip. Very near-term events (0-4 DTE) are allowed only as defined-risk, explicitly time-boxed catalyst setups; prefer paper-track unless the structure is unusually liquid and efficient.\"\nGiven it's 1 DTE, I'll stick to normal draft as instructed by \"If composite score ≥ 60 → draft a normal catalyst idea\", but I'll make sure the thesis acknowledges the tight timeframe. Actually, I'll just follow the exact instruction.\nScore: 70.\nBreakdown: clarity 10, magnitude 10, direction 15, structure 15, liquidity 10, quality 10.\nReady. \nOutput matches requirements.\nProceeds. \nSelf-Correction/Verification during thought:\nWait, magnitude edge: \"Implied move > historical average by ≥30% AND structure is debit = market overpaying vol → short-vol angle.\" Here implied is 8.98%, historical is 7.23%. Difference is 1.75%. 1.75/7.23 = 24.2%. So not ≥30%. I scored 10. That's fine.\nCatalyst clarity: DTE 1. Rubric says \"Dated within 7-45 DTE ... = full points.\" Since it's 1, I gave 10. That's consistent.\nTotal 70.\nSizing band 70-79: max size 3.0%.\nAll good.\nI will produce the JSON exactly.\nOne thing: The prompt says \"breakeven_distance_pct\": 1.03 in dossier. I'll just use the numbers requested.\nStructure fields: \"debit_call_spread\": { \"long_strike\": 475, \"short_strike\": 505, \"expiry\": \"2026-06-05\", \"net_debit\": 10.97, \"max_payoff\": 30, \"breakeven\": 485.97 }\nMatches.\nAll constraints met.\nOutput generation. \nProceeds. \n[Output Generation] -> JSON. \nNote: I will ensure strict JSON formatting without markdown fences as requested (\"output ONLY this object — no prose, no fences\").\nWait, the prompt says \"output ONLY this object — no prose, no fences\". I will strictly follow that.\nChecking one detail: \"breakeven\" in draft structure should be a number.\n\"max_payoff\": 30 (or 30.0). I'll use 30.\n\"position_size_pct\": 3.0.\n\"confidence\": 3.\nAll set. \nProceeds. \nOutput matches. \n[Done] \n(Self-Correction/Refinement during thought)\nLet's double check the scoring rubric for magnitude edge: \"No edge (implied ≈ realized) = ≤8 pts; reconsider whether to publish.\" Since it's 24% difference, it's borderline. I'll stick with 10 to be fair, or 8. I'll give 10. It's fine.\nCatalyst clarity: 10.\nDirection: 15.\nStructure: 15.\nLiquidity: 10.\nQuality: 10.\nTotal: 70.\nSizing: 3.0%.\nAll good.\nOutput matches request.\nProceeds. \n[Final Check of the Prompt]\n\"ONLY ONE STRUCTURE TYPE. Pick one and only fill that field.\" -> I will only fill debit_call_spread.\n\"Position size MUST respect the catalyst sizing band for the score.\" -> 3.0%\n\"headline MUST state the catalyst type and date.\" -> \"Long AVGO debit call spread into June 3, 2026 earnings — implied move 9.0% vs realized 7.2%\"\nEverything is aligned.\nGenerating. \n[Output Generation] (JSON only)\n```json\n{\n  \"skip\": false,\n  \"score\": 70,\n  \"score_breakdown\": {\n    \"catalyst_clarity\": 10,\n    \"magnitude_edge\": 10,\n    \"direction_evidence\": 15,\n    \"structure_efficiency\": 15,\n    \"liquidity\": 10,\n    \"quality_floor\": 10\n  },\n  \"draft\": {\n    \"slug\": \"2026-06-02-AVGO-earnings-debit-call-spread\",\n    \"paper_track\": false,\n    \"symbol\": \"AVGO\",\n    \"company\": \"Broadcom Inc.\",\n    \"sector\": \"semiconductors\",\n    \"risk_class\": \"core\",\n    \"pipeline\": \"catalyst\",\n    \"catalyst_type\": \"earnings\",\n    \"catalyst_date\": \"2026-06-03\",\n    \"headline\": \"Long AVGO debit call spread into June 3, 2026 earnings — implied move 9.0% vs realized 7.2%\",\n    \"thesis_short\": \"Broadcom's June 3 earnings are binary with overwhelmingly bullish directional signals, but implied volatility is rich; a defined-risk debit call spread captures upside while hedging IV crush and overbought reversal risk.\",\n    \"thesis_long\": [\n      \"Broadcom (AVGO) reports fiscal Q2 earnings after market close on June 3, 2026. The market is pricing an ~9.0% implied move via the ATM straddle, which exceeds the historical average realized move of 7.23% by ~24%.\",\n      \"## The edge\",\n      \"Five of six directional signals align bullish: analyst upgrades (Oppenheimer, Susquehanna, UBS to $490), 84% net dollar call bias in options flow, positive news sentiment tied to Alphabet’s $80B AI capex, and a technically bullish setup. The 24% vol premium makes long premium expensive, favoring a defined-risk spread.\",\n      \"## Structure\",\n      \"A June 5, 2026 debit call spread (long 475 / short 505) costs a net debit of $10.97 for a $30 max payoff. The breakeven at $485.97 sits comfortably within the implied move range ($438–$524), offering asymmetric payoff if the stock gaps up on beat + guidance raise.\",\n      \"## What confirms / kills the thesis\",\n      \"Pre-earnings IV expansion >10% would weaken the edge; a pre-emptive guidance leak or missed consensus would trigger the overbought reversal risk.\",\n      \"## Risk\",\n      \"Event resolves but stock moves less than implied → debit decays rapidly. Post-earnings gap fill from RSI 74.6 overextension could cap upside despite a beat.\"\n    ],\n    \"structure\": {\n      \"type\": \"debit_call_spread\",\n      \"debit_call_spread\": {\n        \"long_strike\": 475,\n        \"short_strike\": 505,\n        \"expiry\": \"2026-06-05\",\n        \"net_debit\": 10.97,\n        \"max_payoff\": 30,\n        \"breakeven\": 485.97\n      }\n    },\n    \"entry\": {\n      \"price_at_idea\": 481,\n      \"conditions\": \"Enter 1-2 days before close on June 2 or early June 3 pre-market, before IV expansion peaks.\"\n    },\n    \"exit\": {\n      \"primary_target\": \"Exit at 80% of max payoff OR close end-of-day after catalyst regardless of outcome\",\n      \"stop_or_roll\": \"Close if catalyst gets pushed > 2 weeks OR pre-event move exceeds 50% of debit paid\",\n      \"max_hold_dte\": 2\n    },\n    \"risk\": {\n      \"bear_case\": \"Event resolves but stock moves less than implied → debit decays rapidly to ~30% of paid premium.\",\n      \"what_breaks_thesis\": \"Catalyst delayed past expiry; pre-empted disclosure ahead of event; outsized IV crush or RSI-driven gap fill despite a beat.\",\n      \"position_size_pct\": 3.0,\n      \"max_loss_per_contract\": 10.97,\n      \"max_loss_note\": \"Max loss = net premium paid (defined-risk debit structure).\"\n    },\n    \"sources\": [\n      {\n        \"label\": \"Earnings calendar confirmation\",\n        \"url\": \"https://earnings.com/AVGO\"\n      },\n      {\n        \"label\": \"Oppenheimer Buy reiteration ahead of earnings\",\n        \"url\": \"https://www.thestreet.com/investing/stocks/oppenheimer-reiterates-buy-broadcom-ahead-of-earnings\"\n      },\n      {\n        \"label\": \"Susquehanna/UBS target raises to $490\",\n        \"url\": \"https://finance.yahoo.com/markets/stocks/articles/susquehanna-ubs-raise-broadcom-avgo-230433703.html\"\n      },\n      {\n        \"label\": \"Alphabet $80B AI raise — Broadcom direct beneficiary\",\n        \"url\": \"https://investorshub.advfn.com/market-news/article/29524/broadcom-advances-as-alphabets-80-billion-ai-capital-raise-highlights-infrastructure-demand-avgo\"\n      }\n    ],\n    \"confidence\": 3,\n    \"analyst\": \"research-desk\",\n    \"scout_model\": \"minimax/minimax-m2.7\",\n    \"analyst_model\": \"qwen/qwen3.6-35b-a3b\"\n  }\n}\n```\nWait, the prompt says \"ONLY ONE STRUCTURE TYPE. Pick one and only fill that field.\" I included both \"type\" and \"debit_call_spread\" keys inside \"structure\". That's correct per the schema example.\nCheck schema: \n\"structure\": {\n  \"type\": \"...\",\n  \"debit_call_spread\": { ... }\n}\nYes.\nAll good.\nProceeds. \nOutput matches exactly.\nOne minor thing: The prompt says \"breakeven_distance_pct\" in dossier, but schema asks for \"breakeven\". I used 485.97. Correct.\n\"position_size_pct\": 3.0 matches 70-79 band.\n\"confidence\": 3 matches 70-79 band (max 4).\nAll constraints satisfied.\nOutput generation. \n[Done] \n(Self-Correction/Verification during output gen prep)\nI will ensure no markdown fences are used, as requested: \"output ONLY this object — no prose, no fences\".\nI will paste raw JSON.\nReady. \nProceeds. \n[Output Generation] -> *Proceeds*\n</think>\n\n{\n  \"skip\": false,\n  \"score\": 70,\n  \"score_breakdown\": {\n    \"catalyst_clarity\": 10,\n    \"magnitude_edge\": 10,\n    \"direction_evidence\": 15,\n    \"structure_efficiency\": 15,\n    \"liquidity\": 10,\n    \"quality_floor\": 10\n  },\n  \"draft\": {\n    \"slug\": \"2026-06-02-AVGO-earnings-debit-call-spread\",\n    \"paper_track\": false,\n    \"symbol\": \"AVGO\",\n    \"company\": \"Broadcom Inc.\",\n    \"sector\": \"semiconductors\",\n    \"risk_class\": \"core\",\n    \"pipeline\": \"catalyst\",\n    \"catalyst_type\": \"earnings\",\n    \"catalyst_date\": \"2026-06-03\",\n    \"headline\": \"Long AVGO debit call spread into June 3, 2026 earnings — implied move 9.0% vs realized 7.2%\",\n    \"thesis_short\": \"Broadcom's June 3 earnings are binary with overwhelmingly bullish directional signals, but implied volatility is rich; a defined-risk debit call spread captures upside while hedging IV crush and overbought reversal risk.\",\n    \"thesis_long\": [\n      \"Broadcom (AVGO) reports fiscal Q2 earnings after market close on June 3, 2026. The market is pricing an ~9.0% implied move via the ATM straddle, which exceeds the historical average realized move of 7.23% by ~24%.\",\n      \"## The edge\",\n      \"Five of six directional signals align bullish: analyst upgrades (Oppenheimer, Susquehanna, UBS to $490), 84% net dollar call bias in options flow, positive news sentiment tied to Alphabet’s $80B AI capex, and a technically bullish setup. The 24% vol premium makes long premium expensive, favoring a defined-risk spread.\",\n      \"## Structure\",\n      \"A June 5, 2026 debit call spread (long 475 / short 505) costs a net debit of $10.97 for a $30 max payoff. The breakeven at $485.97 sits comfortably within the implied move range ($438–$524), offering asymmetric payoff if the stock gaps up on beat + guidance raise.\",\n      \"## What confirms / kills the thesis\",\n      \"Pre-earnings IV expansion >10% would weaken the edge; a pre-emptive guidance leak or missed consensus would trigger the overbought reversal risk.\",\n      \"## Risk\",\n      \"Event resolves but stock moves less than implied → debit decays rapidly. Post-earnings gap fill from RSI 74.6 overextension could cap upside despite a beat.\"\n    ],\n    \"structure\": {\n      \"type\": \"debit_call_spread\",\n      \"debit_call_spread\": {\n        \"long_strike\": 475,\n        \"short_strike\": 505,\n        \"expiry\": \"2026-06-05\",\n        \"net_debit\": 10.97,\n        \"max_payoff\": 30,\n        \"breakeven\": 485.97\n      }\n    },\n    \"entry\": {\n      \"price_at_idea\": 481,\n      \"conditions\": \"Enter 1-2 days before close on June 2 or early June 3 pre-market, before IV expansion peaks.\"\n    },\n    \"exit\": {\n      \"primary_target\": \"Exit at 80% of max payoff OR close end-of-day after catalyst regardless of outcome\",\n      \"stop_or_roll\": \"Close if catalyst gets pushed > 2 weeks OR pre-event move exceeds 50% of debit paid\",\n      \"max_hold_dte\": 2\n    },\n    \"risk\": {\n      \"bear_case\": \"Event resolves but stock moves less than implied → debit decays rapidly to ~30% of paid premium.\",\n      \"what_breaks_thesis\": \"Catalyst delayed past expiry; pre-empted disclosure ahead of event; outsized IV crush or RSI-driven gap fill despite a beat.\",\n      \"position_size_pct\": 3.0,\n      \"max_loss_per_contract\": 10.97,\n      \"max_loss_note\": \"Max loss = net premium paid (defined-risk debit structure).\"\n    },\n    \"sources\": [\n      {\n        \"label\": \"Earnings calendar confirmation\",\n        \"url\": \"https://earnings.com/AVGO\"\n      },\n      {\n        \"label\": \"Oppenheimer Buy reiteration ahead of earnings\",\n        \"url\": \"https://www.thestreet.com/investing/stocks/oppenheimer-reiterates-buy-broadcom-ahead-of-earnings\"\n      },\n      {\n        \"label\": \"Susquehanna/UBS target raises to $490\",\n        \"url\": \"https://finance.yahoo.com/markets/stocks/articles/susquehanna-ubs-raise-broadcom-avgo-230433703.html\"\n      },\n      {\n        \"label\": \"Alphabet $80B AI raise — Broadcom direct beneficiary\",\n        \"url\": \"https://investorshub.advfn.com/market-news/article/29524/broadcom-advances-as-alphabets-80-billion-ai-capital-raise-highlights-infrastructure-demand-avgo\"\n      }\n    ],\n    \"confidence\": 3,\n    \"analyst\": \"research-desk\",\n    \"scout_model\": \"minimax/minimax-m2.7\",\n    \"analyst_model\": \"qwen/qwen3.6-35b-a3b\"\n  }\n}",
      "cleaned_content": "{\n  \"skip\": false,\n  \"score\": 70,\n  \"score_breakdown\": {\n    \"catalyst_clarity\": 10,\n    \"magnitude_edge\": 10,\n    \"direction_evidence\": 15,\n    \"structure_efficiency\": 15,\n    \"liquidity\": 10,\n    \"quality_floor\": 10\n  },\n  \"draft\": {\n    \"slug\": \"2026-06-02-AVGO-earnings-debit-call-spread\",\n    \"paper_track\": false,\n    \"symbol\": \"AVGO\",\n    \"company\": \"Broadcom Inc.\",\n    \"sector\": \"semiconductors\",\n    \"risk_class\": \"core\",\n    \"pipeline\": \"catalyst\",\n    \"catalyst_type\": \"earnings\",\n    \"catalyst_date\": \"2026-06-03\",\n    \"headline\": \"Long AVGO debit call spread into June 3, 2026 earnings — implied move 9.0% vs realized 7.2%\",\n    \"thesis_short\": \"Broadcom's June 3 earnings are binary with overwhelmingly bullish directional signals, but implied volatility is rich; a defined-risk debit call spread captures upside while hedging IV crush and overbought reversal risk.\",\n    \"thesis_long\": [\n      \"Broadcom (AVGO) reports fiscal Q2 earnings after market close on June 3, 2026. The market is pricing an ~9.0% implied move via the ATM straddle, which exceeds the historical average realized move of 7.23% by ~24%.\",\n      \"## The edge\",\n      \"Five of six directional signals align bullish: analyst upgrades (Oppenheimer, Susquehanna, UBS to $490), 84% net dollar call bias in options flow, positive news sentiment tied to Alphabet’s $80B AI capex, and a technically bullish setup. The 24% vol premium makes long premium expensive, favoring a defined-risk spread.\",\n      \"## Structure\",\n      \"A June 5, 2026 debit call spread (long 475 / short 505) costs a net debit of $10.97 for a $30 max payoff. The breakeven at $485.97 sits comfortably within the implied move range ($438–$524), offering asymmetric payoff if the stock gaps up on beat + guidance raise.\",\n      \"## What confirms / kills the thesis\",\n      \"Pre-earnings IV expansion >10% would weaken the edge; a pre-emptive guidance leak or missed consensus would trigger the overbought reversal risk.\",\n      \"## Risk\",\n      \"Event resolves but stock moves less than implied → debit decays rapidly. Post-earnings gap fill from RSI 74.6 overextension could cap upside despite a beat.\"\n    ],\n    \"structure\": {\n      \"type\": \"debit_call_spread\",\n      \"debit_call_spread\": {\n        \"long_strike\": 475,\n        \"short_strike\": 505,\n        \"expiry\": \"2026-06-05\",\n        \"net_debit\": 10.97,\n        \"max_payoff\": 30,\n        \"breakeven\": 485.97\n      }\n    },\n    \"entry\": {\n      \"price_at_idea\": 481,\n      \"conditions\": \"Enter 1-2 days before close on June 2 or early June 3 pre-market, before IV expansion peaks.\"\n    },\n    \"exit\": {\n      \"primary_target\": \"Exit at 80% of max payoff OR close end-of-day after catalyst regardless of outcome\",\n      \"stop_or_roll\": \"Close if catalyst gets pushed > 2 weeks OR pre-event move exceeds 50% of debit paid\",\n      \"max_hold_dte\": 2\n    },\n    \"risk\": {\n      \"bear_case\": \"Event resolves but stock moves less than implied → debit decays rapidly to ~30% of paid premium.\",\n      \"what_breaks_thesis\": \"Catalyst delayed past expiry; pre-empted disclosure ahead of event; outsized IV crush or RSI-driven gap fill despite a beat.\",\n      \"position_size_pct\": 3.0,\n      \"max_loss_per_contract\": 10.97,\n      \"max_loss_note\": \"Max loss = net premium paid (defined-risk debit structure).\"\n    },\n    \"sources\": [\n      {\n        \"label\": \"Earnings calendar confirmation\",\n        \"url\": \"https://earnings.com/AVGO\"\n      },\n      {\n        \"label\": \"Oppenheimer Buy reiteration ahead of earnings\",\n        \"url\": \"https://www.thestreet.com/investing/stocks/oppenheimer-reiterates-buy-broadcom-ahead-of-earnings\"\n      },\n      {\n        \"label\": \"Susquehanna/UBS target raises to $490\",\n        \"url\": \"https://finance.yahoo.com/markets/stocks/articles/susquehanna-ubs-raise-broadcom-avgo-230433703.html\"\n      },\n      {\n        \"label\": \"Alphabet $80B AI raise — Broadcom direct beneficiary\",\n        \"url\": \"https://investorshub.advfn.com/market-news/article/29524/broadcom-advances-as-alphabets-80-billion-ai-capital-raise-highlights-infrastructure-demand-avgo\"\n      }\n    ],\n    \"confidence\": 3,\n    \"analyst\": \"research-desk\",\n    \"scout_model\": \"minimax/minimax-m2.7\",\n    \"analyst_model\": \"qwen/qwen3.6-35b-a3b\"\n  }\n}",
      "tool_calls": null,
      "finish_reason": "stop"
    }
  ],
  "tool_results": [],
  "final_message": "{\n  \"skip\": false,\n  \"score\": 70,\n  \"score_breakdown\": {\n    \"catalyst_clarity\": 10,\n    \"magnitude_edge\": 10,\n    \"direction_evidence\": 15,\n    \"structure_efficiency\": 15,\n    \"liquidity\": 10,\n    \"quality_floor\": 10\n  },\n  \"draft\": {\n    \"slug\": \"2026-06-02-AVGO-earnings-debit-call-spread\",\n    \"paper_track\": false,\n    \"symbol\": \"AVGO\",\n    \"company\": \"Broadcom Inc.\",\n    \"sector\": \"semiconductors\",\n    \"risk_class\": \"core\",\n    \"pipeline\": \"catalyst\",\n    \"catalyst_type\": \"earnings\",\n    \"catalyst_date\": \"2026-06-03\",\n    \"headline\": \"Long AVGO debit call spread into June 3, 2026 earnings — implied move 9.0% vs realized 7.2%\",\n    \"thesis_short\": \"Broadcom's June 3 earnings are binary with overwhelmingly bullish directional signals, but implied volatility is rich; a defined-risk debit call spread captures upside while hedging IV crush and overbought reversal risk.\",\n    \"thesis_long\": [\n      \"Broadcom (AVGO) reports fiscal Q2 earnings after market close on June 3, 2026. The market is pricing an ~9.0% implied move via the ATM straddle, which exceeds the historical average realized move of 7.23% by ~24%.\",\n      \"## The edge\",\n      \"Five of six directional signals align bullish: analyst upgrades (Oppenheimer, Susquehanna, UBS to $490), 84% net dollar call bias in options flow, positive news sentiment tied to Alphabet’s $80B AI capex, and a technically bullish setup. The 24% vol premium makes long premium expensive, favoring a defined-risk spread.\",\n      \"## Structure\",\n      \"A June 5, 2026 debit call spread (long 475 / short 505) costs a net debit of $10.97 for a $30 max payoff. The breakeven at $485.97 sits comfortably within the implied move range ($438–$524), offering asymmetric payoff if the stock gaps up on beat + guidance raise.\",\n      \"## What confirms / kills the thesis\",\n      \"Pre-earnings IV expansion >10% would weaken the edge; a pre-emptive guidance leak or missed consensus would trigger the overbought reversal risk.\",\n      \"## Risk\",\n      \"Event resolves but stock moves less than implied → debit decays rapidly. Post-earnings gap fill from RSI 74.6 overextension could cap upside despite a beat.\"\n    ],\n    \"structure\": {\n      \"type\": \"debit_call_spread\",\n      \"debit_call_spread\": {\n        \"long_strike\": 475,\n        \"short_strike\": 505,\n        \"expiry\": \"2026-06-05\",\n        \"net_debit\": 10.97,\n        \"max_payoff\": 30,\n        \"breakeven\": 485.97\n      }\n    },\n    \"entry\": {\n      \"price_at_idea\": 481,\n      \"conditions\": \"Enter 1-2 days before close on June 2 or early June 3 pre-market, before IV expansion peaks.\"\n    },\n    \"exit\": {\n      \"primary_target\": \"Exit at 80% of max payoff OR close end-of-day after catalyst regardless of outcome\",\n      \"stop_or_roll\": \"Close if catalyst gets pushed > 2 weeks OR pre-event move exceeds 50% of debit paid\",\n      \"max_hold_dte\": 2\n    },\n    \"risk\": {\n      \"bear_case\": \"Event resolves but stock moves less than implied → debit decays rapidly to ~30% of paid premium.\",\n      \"what_breaks_thesis\": \"Catalyst delayed past expiry; pre-empted disclosure ahead of event; outsized IV crush or RSI-driven gap fill despite a beat.\",\n      \"position_size_pct\": 3.0,\n      \"max_loss_per_contract\": 10.97,\n      \"max_loss_note\": \"Max loss = net premium paid (defined-risk debit structure).\"\n    },\n    \"sources\": [\n      {\n        \"label\": \"Earnings calendar confirmation\",\n        \"url\": \"https://earnings.com/AVGO\"\n      },\n      {\n        \"label\": \"Oppenheimer Buy reiteration ahead of earnings\",\n        \"url\": \"https://www.thestreet.com/investing/stocks/oppenheimer-reiterates-buy-broadcom-ahead-of-earnings\"\n      },\n      {\n        \"label\": \"Susquehanna/UBS target raises to $490\",\n        \"url\": \"https://finance.yahoo.com/markets/stocks/articles/susquehanna-ubs-raise-broadcom-avgo-230433703.html\"\n      },\n      {\n        \"label\": \"Alphabet $80B AI raise — Broadcom direct beneficiary\",\n        \"url\": \"https://investorshub.advfn.com/market-news/article/29524/broadcom-advances-as-alphabets-80-billion-ai-capital-raise-highlights-infrastructure-demand-avgo\"\n      }\n    ],\n    \"confidence\": 3,\n    \"analyst\": \"research-desk\",\n    \"scout_model\": \"minimax/minimax-m2.7\",\n    \"analyst_model\": \"qwen/qwen3.6-35b-a3b\"\n  }\n}",
  "tool_calls_total": 0,
  "walltime_ms": 153929,
  "stop_reason": "stop",
  "completed_at": "2026-06-02T15:53:11.073Z"
}