{
  "model": "qwen/qwen3.6-35b-a3b",
  "started_at": "2026-06-08T21:52:16.891Z",
  "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: 2026-06-08. 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 2026-06-08. 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 2026-06-08, it is WRONG — re-read the live tool output.\n\nCATALYST DOSSIER:\n{\n  \"symbol\": \"MU\",\n  \"company\": \"Micron Technology, Inc.\",\n  \"investigation_summary\": \"MU reports Q3 FY26 earnings on June 24, 2026 (16 DTE) with a confirmed post-market print. The stock has run from ~$320 in March to $949 by June — up 200% YTD and sitting at all-time high territory near $1079 recent peak. Options market implies approximately 19.5% one-day move via ATM straddle (950C mid $93 + 950P mid $91.95), while historical realized avg across the last four earnings cycles is ~15.0%, yielding a modest magnitude edge (~30%). Direction signals lean bullish: analyst revisions are strongly up (strong_buy consensus, $739 mean target vs $949 spot, 40 analysts covering), stock is above all major moving averages with RSI at 60.8 and recently recovered from a sharp -20% two-session drawdown to reclaim the 900s. However, CEO Mehrotra executed large Rule 10b5-1 sales on May 29 (total ~44K shares sold at $942-$973), which is an anti-signal despite being pre-planned. Options flow shows heavy near-ATM call buying (950C vol/OI ratio of 2.17, notional $19.9M) and a put skew spike at deep OTM 1090P ($64M notional), suggesting hedging rather than directional bearish intent. The stock has beaten on all four tracked quarters with surprise pct ranging from +5.9% to +33%, supporting a bullish lean. A long call or debit_call_spread is recommended; straddle is viable given the magnitude edge, but elevated vol makes spreads superior for defined-risk exposure.\",\n  \"verdict\": \"catalyst_setup\",\n  \"confidence_in_data\": 4,\n  \"catalyst\": {\n    \"type\": \"earnings\",\n    \"date\": \"2026-06-24\",\n    \"dte\": 16,\n    \"binary\": true,\n    \"outcome_scenarios\": [\n      \"beat → +15% to +25%\",\n      \"miss → -12% to -20%\"\n    ]\n  },\n  \"implied_vs_realized\": {\n    \"implied_move_pct\": 19.48,\n    \"historical_avg_move_pct\": 14.99,\n    \"n_historical_events\": 4,\n    \"magnitude_edge_note\": \"Implied ~19.5% vs realized avg ~15.0% across last four earnings. Edge of ~30%. Elevated vol environment; spreads preferred over naked premium to reduce cost basis.\"\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\": \"long_call\",\n      \"expiry\": \"2026-06-26\",\n      \"dte\": 17,\n      \"long_strike\": 950,\n      \"short_strike\": null,\n      \"long_mid\": 93,\n      \"short_mid\": null,\n      \"net_debit\": 93,\n      \"max_payoff\": 1000,\n      \"breakeven\": 1043,\n      \"breakeven_distance_pct\": 9.88,\n      \"open_interest_long\": 988,\n      \"open_interest_short\": null,\n      \"bid_ask_spread_pct\": 2.47\n    },\n    {\n      \"structure\": \"debit_call_spread\",\n      \"expiry\": \"2026-06-26\",\n      \"dte\": 17,\n      \"long_strike\": 950,\n      \"short_strike\": 1000,\n      \"long_mid\": 93,\n      \"short_mid\": 72.67,\n      \"net_debit\": 20.33,\n      \"max_payoff\": 50,\n      \"breakeven\": 970.33,\n      \"breakeven_distance_pct\": 2.22,\n      \"open_interest_long\": 988,\n      \"open_interest_short\": 3204,\n      \"bid_ask_spread_pct\": 3.5\n    },\n    {\n      \"structure\": \"debit_call_spread\",\n      \"expiry\": \"2026-06-26\",\n      \"dte\": 17,\n      \"long_strike\": 960,\n      \"short_strike\": 1020,\n      \"long_mid\": 88.47,\n      \"short_mid\": 64.72,\n      \"net_debit\": 23.75,\n      \"max_payoff\": 60,\n      \"breakeven\": 983.75,\n      \"breakeven_distance_pct\": 3.63,\n      \"open_interest_long\": 309,\n      \"open_interest_short\": 194,\n      \"bid_ask_spread_pct\": 4.8\n    },\n    {\n      \"structure\": \"straddle\",\n      \"expiry\": \"2026-06-26\",\n      \"dte\": 17,\n      \"long_strike\": 950,\n      \"short_strike\": null,\n      \"long_mid\": 93,\n      \"short_mid\": 91.95,\n      \"net_debit\": 184.95,\n      \"max_payoff\": 1000,\n      \"breakeven\": 1134.95,\n      \"breakeven_distance_pct\": 19.56,\n      \"open_interest_long\": 988,\n      \"open_interest_short\": null,\n      \"bid_ask_spread_pct\": 2.47\n    }\n  ],\n  \"quality_floor\": {\n    \"market_cap\": 1070535409664,\n    \"price\": 949.28,\n    \"going_concern\": false,\n    \"passes_floor\": true\n  },\n  \"anti_signals_present\": [\n    \"CEO Mehrotra sold ~44K shares via Rule 10b5-1 plan on May 29 at $942-$973 (pre-planned but represents distribution near ATH)\",\n    \"Stock at all-time high territory ($949 vs 52wk high $1079); elevated crash risk into event\",\n    \"Friday June 5 saw -20% single-session drawdown to $864 before Monday rebound — extreme intraday vol\",\n    \"Deep OTM put buying (1090P, $64M notional) suggests sophisticated traders hedging downside heavily\"\n  ],\n  \"key_risks\": [\n    \"Stock has already run +200% YTD; earnings sell-the-news risk if beat is priced in or modest\",\n    \"CEO selling ~44K shares via pre-planned 10b5-1 on May 29 at ATH prices — distribution signal despite scheduled nature\",\n    \"Implied vol (~19.5%) may still understate post-earnings realized move if miss occurs given near-ATH positioning\",\n    \"June 26 expiry is only 17 DTE; gamma risk around the strike pins price to ATM level into expiration\",\n    \"Broad memory sector sentiment tied to NAND/DRAM pricing cycles — HBM oversupply concerns could cap upside\"\n  ],\n  \"sources\": [\n    {\n      \"label\": \"Earnings calendar\",\n      \"url\": \"earnings(MU) confirmed June 24, 2026\"\n    },\n    {\n      \"label\": \"Options chain Jun-26\",\n      \"url\": \"options_chain(MU, 2026-06-26, strikes_around=15) — ATM straddle pricing\"\n    },\n    {\n      \"label\": \"Form 4 CEO sales May 29\",\n      \"url\": \"https://www.sec.gov/Archives/edgar/data/723125/000124265426000010/xslF345X06/primarydocument.xml\"\n    },\n    {\n      \"label\": \"Fundamentals / market cap\",\n      \"url\": \"fundamentals(MU) — $1.07T mktcap, forward P/E 8.77x\"\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": "2026-06-08T21:53:47.732Z",
      "raw_content": "<think>The user wants me to score a catalyst dossier for MU (Micron Technology) and draft a JSON response based on the CATALYST rubric.\n\nFirst, let's evaluate the dossier against the rubric:\n1. Catalyst clarity (max 25 pts):\n   - Event: Q3 FY26 earnings on June 24, 2026.\n   - DTE: 16 days (within 7-45 DTE).\n   - Named in earnings calendar.\n   - Score: 25/25.\n\n2. Magnitude edge (max 25 pts):\n   - Implied move: ~19.5%\n   - Historical avg: ~15.0%\n   - Edge: ~30% (Implied > Historical by ≥30% -> short-vol angle, but structure is debit spread, which mitigates vol cost).\n   - The rubric says: \"Implied move > historical average by ≥30% AND structure is debit = market overpaying vol → short-vol angle.\" Wait, the rubric says if implied > realized by ≥30% AND structure is debit, it's a short-vol angle. But the dossier recommends a debit_call_spread. Actually, a debit spread is a long premium structure but cheaper than a straddle. The rubric says \"Implied move > historical realized by ≥30% AND structure is debit = market overpaying vol → short-vol angle.\" This implies a lower score for a long vol setup, but since it's a debit spread, it's still valid. I'll score it around 15-18. Let's stick to the rubric strictly: \"Implied move > historical realized by ≥30% AND structure is debit = market overpaying vol → short-vol angle.\" This means it's not a long-vol edge. But the rubric also says \"No edge (implied ≈ realized) = ≤8 pts\". Here edge is ~30%, so it's on the border. I'll give it 15 pts because it's a debit spread which is efficient for elevated vol, but the magnitude edge is actually a headwind for long vol. Actually, the rubric says: \"Implied move < historical realized by ≥30% AND structure is debit straddle/long premium = market underpaying → long-vol.\" Here implied > realized, so it's not a long-vol edge. I'll score it 12.\n\nWait, let's re-read carefully: \"Implied move > historical average by ≥30% AND structure is debit = market overpaying vol → short-vol angle.\" This implies a long vol setup is less attractive. I'll give 12/25.\n\n3. Direction evidence (max 15 pts):\n   - Analyst revisions: UP\n   - Technicals: bullish\n   - Options skew: call skew\n   - News sentiment: positive\n   - Insider buys: no (CEO sold, which is an anti-signal)\n   - ≥3 corroborating signals same direction = full points. We have analyst revisions, technicals, options skew, news sentiment. That's 4. Score: 15/15.\n\n4. Structure efficiency (max 15 pts):\n   - Recommended: debit_call_spread (950/1000, Jun 26)\n   - Net debit: 20.33\n   - Max payoff: 50\n   - Breakeven: 970.33 (2.22% above spot)\n   - Implied move is 19.5% of 949 ≈ $185. The breakeven is well within the implied move range.\n   - Debit spread cheaper than naked long (93 vs 20.33).\n   - Score: 15/15.\n\n5. Liquidity (max 10 pts):\n   - OI ≥500 + daily volume ≥50 + bid-ask ≤5% of premium.\n   - Candidate contract (950/1000 C): OI long 988, short 3204. Bid-ask 3.5%.\n   - Meets criteria. Score: 10/10.\n\n6. Quality floor (max 10 pts):\n   - Market cap: $1.07T (≥$500M)\n   - Price: $949.28 (≥$5)\n   - Going concern: false\n   - Passes floor: true\n   - Score: 10/10.\n\nTotal score: 25 + 12 + 15 + 15 + 10 + 10 = 87.\nWait, let's double check magnitude edge. The rubric says: \"Implied move > historical realized by ≥30% AND structure is debit = market overpaying vol → short-vol angle.\" This usually means long vol is less favorable, but since we are using a debit spread to mitigate the overpaid vol, it's still a valid setup. I'll stick with 12-15. Let's give 14.\nTotal: 25+14+15+15+10+10 = 89.\nSizing band: 80-100 → max conf 5, max size 4.0%.\nDTE: 16 days to event, 17 DTE to expiry. Within 7-45.\nStructure: debit_call_spread. Allowed.\nAnti-signals: CEO sales, ATH, crash risk. These are risk warnings, not hard blockers.\nQuality floor passes.\nLiquidity passes.\nScore ≥ 60 → draft normal catalyst idea.\n\nLet's construct the JSON carefully.\nCheck fields:\n- skip: false\n- score: 89\n- score_breakdown: catalyst_clarity: 25, magnitude_edge: 14, direction_evidence: 15, structure_efficiency: 15, liquidity: 10, quality_floor: 10\n- draft:\n  - slug: \"2026-06-08-MU-earnings-debit-call-spread\"\n  - paper_track: false\n  - symbol: \"MU\"\n  - company: \"Micron Technology, Inc.\"\n  - sector: \"Technology\" (or \"Semiconductors\")\n  - risk_class: \"core\"\n  - pipeline: \"catalyst\"\n  - catalyst_type: \"earnings\"\n  - catalyst_date: \"2026-06-24\"\n  - headline: \"Long MU debit call spread into Q3 FY26 earnings on June 24 — implied 19.5% vs realized 15.0%\"\n  - thesis_short: \"Micron reports earnings on June 24 with a bullish technical and analyst revision setup; a 950/1000 debit call spread captures upside while mitigating the 30%+ implied vol premium.\"\n  - thesis_long: [\n      \"Opening paragraph: Micron Technology (MU) reports Q3 FY26 earnings on June 24, 2026 (16 DTE). The stock has rallied ~200% YTD to ~$949, trading near all-time highs. The options market prices in an ~19.5% one-day implied move, which exceeds the historical average of ~15.0% by roughly 30%, indicating elevated vol expectations.\",\n      \"## The edge\",\n      \"Strong directional tailwinds from analyst revisions (strong buy consensus), bullish technical positioning above key moving averages, and call-side options skew. While implied vol is rich, the debit spread structure efficiently captures the bullish lean without overpaying for naked premium.\",\n      \"## Structure\",\n      \"950/1000 June 26 debit call spread. Net debit ~$20.33, max payoff $50 (2.46x). Breakeven at $970.33 (+2.2% from spot), well within the implied move range. Significantly cheaper than the ATM long call ($93 debit).\",\n      \"## What confirms / kills the thesis\",\n      \"Confirms: Analyst upgrades or guidance raise ahead of June 24 print; IV expansion >15% pre-event. Kills: CEO 10b5-1 distribution signals weigh on sentiment; broad memory sector headwinds or HBM oversupply concerns cap upside; post-earnings IV crush if beat is priced in.\",\n      \"## Risk\",\n      \"Event resolves but stock moves less than implied → debit decays to ~30% of paid premium. Gamma risk near expiration given 17 DTE. Elevated crash risk from ATH territory.\"\n    ]\n  - structure:\n    - type: \"debit_call_spread\"\n    - debit_call_spread: { \"long_strike\": 950, \"short_strike\": 1000, \"expiry\": \"2026-06-26\", \"net_debit\": 20.33, \"max_payoff\": 50, \"breakeven\": 970.33 }\n  - entry: { \"price_at_idea\": 949.28, \"conditions\": \"Enter on a defined pre-catalyst window — e.g., '2-5 days before print, before IV expansion peaks.'\" }\n  - exit: { \"primary_target\": \"Exit at 80% of max payoff OR close end-of-day after catalyst regardless of outcome\", \"stop_or_roll\": \"Close if catalyst gets pushed > 2 weeks OR pre-event move exceeds 50% of debit paid\", \"max_hold_dte\": 17 }\n  - risk: { \"bear_case\": \"Event happens, stock barely moves or dips on sell-the-news; debit decays to ~30% of paid premium.\", \"what_breaks_thesis\": \"Catalyst delayed past expiry; pre-empted disclosure ahead of event; outsized IV crush; HBM oversupply concerns cap upside.\", \"position_size_pct\": 4.0, \"max_loss_per_contract\": 20.33, \"max_loss_note\": \"Max loss = net premium paid (defined-risk debit structure).\" }\n  - sources: [pass through]\n  - confidence: 5\n  - analyst: \"research-desk\"\n  - scout_model: \"minimax/minimax-m2.7\"\n  - analyst_model: \"qwen/qwen3.6-35b-a3b\"\n\nCheck constraints:\n- DTE rules: All dates 2026 or later. June 24, 2026; June 26, 2026. Correct.\n- Score breakdown matches.\n- Sizing band: 80-100 -> max size 4.0%. Correct.\n- Structure: debit_call_spread. Allowed.\n- Output format: strict JSON.\n- Numeric traceability: strikes, debits from dossier.\n- Headline states catalyst type and date.\n- Thesis short 1-2 sentences.\n- Thesis long has required sections.\n- All good.\n\nOne detail: magnitude edge score. The rubric says \"Implied move > historical realized by ≥30% AND structure is debit = market overpaying vol → short-vol angle.\" This implies a long vol setup gets penalized. I'll score it 12 to reflect that it's not a pure long-vol edge, but the debit structure mitigates it. Actually, the rubric says \"Implied move < historical realized by ≥30% AND structure is debit straddle/long premium = market underpaying → long-vol.\" Since it's >30% overpaid, it's not a long-vol edge. I'll give it 10. Total becomes 87. Still in 80-100 band. I'll stick with 12.\n\nLet's verify the candidate contract fields for debit_call_spread:\nlong_strike: 950\nshort_strike: 1000\nexpiry: \"2026-06-26\"\nnet_debit: 20.33\nmax_payoff: 50\nbreakeven: 970.33\nMatches dossier exactly.\n\nCheck position_size_pct: 4.0 (max for 80-100 score).\nCheck confidence: 5 (max for 80-100 score).\nCheck paper_track: false.\nCheck headline: \"Long MU debit call spread into Q3 FY26 earnings on June 24 — implied 19.5% vs realized 15.0%\"\nCheck thesis_long sections: matches required.\nCheck exit.max_hold_dte: 17.\nCheck risk.position_size_pct: 4.0.\nCheck sources: pass through.\nCheck analyst/scout/analyst_model: as specified.\n\nEverything looks solid. I will generate the JSON.\nOne minor point: The rubric says \"Implied move > historical realized by ≥30% AND structure is debit = market overpaying vol → short-vol angle.\" This is a condition for scoring magnitude edge. I'll score it 12 out of 25 because it's a debit structure in an overpaid vol environment, which reduces the long-vol appeal but the structure efficiency compensates. I'll stick with 12.\n\nWait, the rubric says \"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.\"\nSince implied > realized by ~30%, it's not a long-vol edge. I'll give it 10 pts. Total score 85. Still 80-100 band.\n\nLet's assemble carefully.\nAll constraints met.\nOutput matches requested format exactly.\nProceeds. \nSelf-Correction/Verification during thought:\n- Check DTE rule: \"Every option expiry, earnings date, catalyst date, and DTE you state MUST use the year 2026 or later.\" -> June 24, 2026 and June 26, 2026 are correct.\n- Check sizing band: 80-100 -> max size 4.0%. Correct.\n- Check structure efficiency: breakeven 970.33 is inside implied move range (949 * 1.195 ≈ 1134). Yes.\n- Check liquidity: OI 988/3204 > 500, bid-ask 3.5% < 5%. Correct.\n- Check quality floor: passes.\n- Check anti-signals: CEO sales, ATH, crash risk. Not hard blockers.\n- All good.\n\nOutput generation. \nI will carefully format the JSON to match the prompt's schema exactly.\nNote: The prompt says \"scout_model\": \"minimax/minimax-m2.7\", \"analyst_model\": \"qwen/qwen3.6-35b-a3b\". I will include these.\nThe prompt says \"sector\": \"<sector slug or 'unknown'>\". I'll use \"semiconductors\".\nThe prompt says \"risk_class\": \"core\".\nThe prompt says \"pipeline\": \"catalyst\".\nAll set. \nProceeds. \nOutput matches exactly. \n[Done] \nGenerating response. \n```json\n{\n  \"skip\": false,\n  \"score\": 85,\n  \"score_breakdown\": {\n    \"catalyst_clarity\": 25,\n    \"magnitude_edge\": 10,\n    \"direction_evidence\": 15,\n    \"structure_efficiency\": 15,\n    \"liquidity\": 10,\n    \"quality_floor\": 10\n  },\n  \"draft\": {\n    \"slug\": \"2026-06-08-MU-earnings-debit-call-spread\",\n    \"paper_track\": false,\n    \"symbol\": \"MU\",\n    \"company\": \"Micron Technology, Inc.\",\n    \"sector\": \"semiconductors\",\n    \"risk_class\": \"core\",\n    \"pipeline\": \"catalyst\",\n    \"catalyst_type\": \"earnings\",\n    \"catalyst_date\": \"2026-06-24\",\n    \"headline\": \"Long MU debit call spread into Q3 FY26 earnings on June 24 — implied 19.5% vs realized 15.0%\",\n    \"thesis_short\": \"Micron reports earnings on June 24 with a bullish technical and analyst revision setup; a 950/1000 debit call spread captures upside while mitigating the 30%+ implied vol premium.\",\n    \"thesis_long\": [\n      \"Opening paragraph: Micron Technology (MU) reports Q3 FY26 earnings on June 24, 2026 (16 DTE). The stock has rallied ~200% YTD to ~$949, trading near all-time highs. The options market prices in an ~19.5% one-day implied move, which exceeds the historical average of ~15.0% by roughly 30%, indicating elevated vol expectations.\",\n      \"## The edge\",\n      \"Strong directional tailwinds from analyst revisions (strong buy consensus), bullish technical positioning above key moving averages, and call-side options skew. While implied vol is rich, the debit spread structure efficiently captures the bullish lean without overpaying for naked premium.\",\n      \"## Structure\",\n      \"950/1000 June 26 debit call spread. Net debit ~$20.33, max payoff $50 (2.46x). Breakeven at $970.33 (+2.2% from spot), well within the implied move range. Significantly cheaper than the ATM long call ($93 debit).\",\n      \"## What confirms / kills the thesis\",\n      \"Confirms: Analyst upgrades or guidance raise ahead of June 24 print; IV expansion >15% pre-event. Kills: CEO 10b5-1 distribution signals weigh on sentiment; broad memory sector headwinds or HBM oversupply concerns cap upside; post-earnings IV crush if beat is priced in.\",\n      \"## Risk\",\n      \"Event resolves but stock moves less than implied → debit decays to ~30% of paid premium. Gamma risk near expiration given 17 DTE. Elevated crash risk from ATH territory.\"\n    ],\n    \"structure\": {\n      \"type\": \"debit_call_spread\",\n      \"debit_call_spread\": {\n        \"long_strike\": 950,\n        \"short_strike\": 1000,\n        \"expiry\": \"2026-06-26\",\n        \"net_debit\": 20.33,\n        \"max_payoff\": 50,\n        \"breakeven\": 970.33\n      }\n    },\n    \"entry\": {\n      \"price_at_idea\": 949.28,\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\": 17\n    },\n    \"risk\": {\n      \"bear_case\": \"Event happens, stock barely moves or dips on sell-the-news; debit decays to ~30% of paid premium.\",\n      \"what_breaks_thesis\": \"Catalyst delayed past expiry; pre-empted disclosure ahead of event; outsized IV crush; HBM oversupply concerns cap upside.\",\n      \"position_size_pct\": 4.0,\n      \"max_loss_per_contract\": 20.33,\n      \"max_loss_note\": \"Max loss = net premium paid (defined-risk debit structure).\"\n    },\n    \"sources\": [\n      {\n        \"label\": \"Earnings calendar\",\n        \"url\": \"earnings(MU) confirmed June 24, 2026\"\n      },\n      {\n        \"label\": \"Options chain Jun-26\",\n        \"url\": \"options_chain(MU, 2026-06-26, strikes_around=15) — ATM straddle pricing\"\n      },\n      {\n        \"label\": \"Form 4 CEO sales May 29\",\n        \"url\": \"https://www.sec.gov/Archives/edgar/data/723125/000124265426000010/xslF345X06/primarydocument.xml\"\n      },\n      {\n        \"label\": \"Fundamentals / market cap\",\n        \"url\": \"fundamentals(MU) — $1.07T mktcap, forward P/E 8.77x\"\n      }\n    ],\n    \"confidence\": 5,\n    \"analyst\": \"research-desk\",\n    \"scout_model\": \"minimax/minimax-m2.7\",\n    \"analyst_model\": \"qwen/qwen3.6-35b-a3b\"\n  }\n}\n```\nAll constraints verified. Output matches exactly. Proceeds. \nNote: I will ensure the JSON is strictly formatted without markdown fences as requested (\"output ONLY this object — no prose, no fences\").\nDone. \nOutput Generation. \n(Self-Correction/Refinement during thought)\nWait, the prompt says \"output ONLY this object — no prose, no fences\". I will output raw JSON.\nCheck magnitude edge scoring again: \"Implied move > historical realized by ≥30% AND structure is debit = market overpaying vol → short-vol angle.\" This implies a lower score for long vol. I gave 10. That's fine.\nCheck structure efficiency: breakeven inside implied move range = full points (15). Correct.\nCheck liquidity: OI >= 500 + vol >= 50 + bid-ask <= 5%. Contract has OI 988/3204, BA 3.5%. Full points (10). Correct.\nCheck quality floor: passes. Full points (10). Correct.\nCheck catalyst clarity: Dated within 7-45 DTE + named in earnings cal = full points (25). Correct.\nCheck direction evidence: >=3 corroborating signals = full points (15). Correct.\nTotal: 25+10+15+15+10+10 = 85.\nSizing band 80-100 -> max size 4.0%. Correct.\nAll good.\nOutput matches.\nProceeds. \n[Output Generation] -> *Proceeds*\n</think>\n\n{\n  \"skip\": false,\n  \"score\": 85,\n  \"score_breakdown\": {\n    \"catalyst_clarity\": 25,\n    \"magnitude_edge\": 10,\n    \"direction_evidence\": 15,\n    \"structure_efficiency\": 15,\n    \"liquidity\": 10,\n    \"quality_floor\": 10\n  },\n  \"draft\": {\n    \"slug\": \"2026-06-08-MU-earnings-debit-call-spread\",\n    \"paper_track\": false,\n    \"symbol\": \"MU\",\n    \"company\": \"Micron Technology, Inc.\",\n    \"sector\": \"semiconductors\",\n    \"risk_class\": \"core\",\n    \"pipeline\": \"catalyst\",\n    \"catalyst_type\": \"earnings\",\n    \"catalyst_date\": \"2026-06-24\",\n    \"headline\": \"Long MU debit call spread into Q3 FY26 earnings on June 24 — implied 19.5% vs realized 15.0%\",\n    \"thesis_short\": \"Micron reports earnings on June 24 with a bullish technical and analyst revision setup; a 950/1000 debit call spread captures upside while mitigating the 30%+ implied vol premium.\",\n    \"thesis_long\": [\n      \"Opening paragraph: Micron Technology (MU) reports Q3 FY26 earnings on June 24, 2026 (16 DTE). The stock has rallied ~200% YTD to ~$949, trading near all-time highs. The options market prices in an ~19.5% one-day implied move, which exceeds the historical average of ~15.0% by roughly 30%, indicating elevated vol expectations.\",\n      \"## The edge\",\n      \"Strong directional tailwinds from analyst revisions (strong buy consensus), bullish technical positioning above key moving averages, and call-side options skew. While implied vol is rich, the debit spread structure efficiently captures the bullish lean without overpaying for naked premium.\",\n      \"## Structure\",\n      \"950/1000 June 26 debit call spread. Net debit ~$20.33, max payoff $50 (2.46x). Breakeven at $970.33 (+2.2% from spot), well within the implied move range. Significantly cheaper than the ATM long call ($93 debit).\",\n      \"## What confirms / kills the thesis\",\n      \"Confirms: Analyst upgrades or guidance raise ahead of June 24 print; IV expansion >15% pre-event. Kills: CEO 10b5-1 distribution signals weigh on sentiment; broad memory sector headwinds or HBM oversupply concerns cap upside; post-earnings IV crush if beat is priced in.\",\n      \"## Risk\",\n      \"Event resolves but stock moves less than implied → debit decays to ~30% of paid premium. Gamma risk near expiration given 17 DTE. Elevated crash risk from ATH territory.\"\n    ],\n    \"structure\": {\n      \"type\": \"debit_call_spread\",\n      \"debit_call_spread\": {\n        \"long_strike\": 950,\n        \"short_strike\": 1000,\n        \"expiry\": \"2026-06-26\",\n        \"net_debit\": 20.33,\n        \"max_payoff\": 50,\n        \"breakeven\": 970.33\n      }\n    },\n    \"entry\": {\n      \"price_at_idea\": 949.28,\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\": 17\n    },\n    \"risk\": {\n      \"bear_case\": \"Event happens, stock barely moves or dips on sell-the-news; debit decays to ~30% of paid premium.\",\n      \"what_breaks_thesis\": \"Catalyst delayed past expiry; pre-empted disclosure ahead of event; outsized IV crush; HBM oversupply concerns cap upside.\",\n      \"position_size_pct\": 4.0,\n      \"max_loss_per_contract\": 20.33,\n      \"max_loss_note\": \"Max loss = net premium paid (defined-risk debit structure).\"\n    },\n    \"sources\": [\n      {\n        \"label\": \"Earnings calendar\",\n        \"url\": \"earnings(MU) confirmed June 24, 2026\"\n      },\n      {\n        \"label\": \"Options chain Jun-26\",\n        \"url\": \"options_chain(MU, 2026-06-26, strikes_around=15) — ATM straddle pricing\"\n      },\n      {\n        \"label\": \"Form 4 CEO sales May 29\",\n        \"url\": \"https://www.sec.gov/Archives/edgar/data/723125/000124265426000010/xslF345X06/primarydocument.xml\"\n      },\n      {\n        \"label\": \"Fundamentals / market cap\",\n        \"url\": \"fundamentals(MU) — $1.07T mktcap, forward P/E 8.77x\"\n      }\n    ],\n    \"confidence\": 5,\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\": 85,\n  \"score_breakdown\": {\n    \"catalyst_clarity\": 25,\n    \"magnitude_edge\": 10,\n    \"direction_evidence\": 15,\n    \"structure_efficiency\": 15,\n    \"liquidity\": 10,\n    \"quality_floor\": 10\n  },\n  \"draft\": {\n    \"slug\": \"2026-06-08-MU-earnings-debit-call-spread\",\n    \"paper_track\": false,\n    \"symbol\": \"MU\",\n    \"company\": \"Micron Technology, Inc.\",\n    \"sector\": \"semiconductors\",\n    \"risk_class\": \"core\",\n    \"pipeline\": \"catalyst\",\n    \"catalyst_type\": \"earnings\",\n    \"catalyst_date\": \"2026-06-24\",\n    \"headline\": \"Long MU debit call spread into Q3 FY26 earnings on June 24 — implied 19.5% vs realized 15.0%\",\n    \"thesis_short\": \"Micron reports earnings on June 24 with a bullish technical and analyst revision setup; a 950/1000 debit call spread captures upside while mitigating the 30%+ implied vol premium.\",\n    \"thesis_long\": [\n      \"Opening paragraph: Micron Technology (MU) reports Q3 FY26 earnings on June 24, 2026 (16 DTE). The stock has rallied ~200% YTD to ~$949, trading near all-time highs. The options market prices in an ~19.5% one-day implied move, which exceeds the historical average of ~15.0% by roughly 30%, indicating elevated vol expectations.\",\n      \"## The edge\",\n      \"Strong directional tailwinds from analyst revisions (strong buy consensus), bullish technical positioning above key moving averages, and call-side options skew. While implied vol is rich, the debit spread structure efficiently captures the bullish lean without overpaying for naked premium.\",\n      \"## Structure\",\n      \"950/1000 June 26 debit call spread. Net debit ~$20.33, max payoff $50 (2.46x). Breakeven at $970.33 (+2.2% from spot), well within the implied move range. Significantly cheaper than the ATM long call ($93 debit).\",\n      \"## What confirms / kills the thesis\",\n      \"Confirms: Analyst upgrades or guidance raise ahead of June 24 print; IV expansion >15% pre-event. Kills: CEO 10b5-1 distribution signals weigh on sentiment; broad memory sector headwinds or HBM oversupply concerns cap upside; post-earnings IV crush if beat is priced in.\",\n      \"## Risk\",\n      \"Event resolves but stock moves less than implied → debit decays to ~30% of paid premium. Gamma risk near expiration given 17 DTE. Elevated crash risk from ATH territory.\"\n    ],\n    \"structure\": {\n      \"type\": \"debit_call_spread\",\n      \"debit_call_spread\": {\n        \"long_strike\": 950,\n        \"short_strike\": 1000,\n        \"expiry\": \"2026-06-26\",\n        \"net_debit\": 20.33,\n        \"max_payoff\": 50,\n        \"breakeven\": 970.33\n      }\n    },\n    \"entry\": {\n      \"price_at_idea\": 949.28,\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\": 17\n    },\n    \"risk\": {\n      \"bear_case\": \"Event happens, stock barely moves or dips on sell-the-news; debit decays to ~30% of paid premium.\",\n      \"what_breaks_thesis\": \"Catalyst delayed past expiry; pre-empted disclosure ahead of event; outsized IV crush; HBM oversupply concerns cap upside.\",\n      \"position_size_pct\": 4.0,\n      \"max_loss_per_contract\": 20.33,\n      \"max_loss_note\": \"Max loss = net premium paid (defined-risk debit structure).\"\n    },\n    \"sources\": [\n      {\n        \"label\": \"Earnings calendar\",\n        \"url\": \"earnings(MU) confirmed June 24, 2026\"\n      },\n      {\n        \"label\": \"Options chain Jun-26\",\n        \"url\": \"options_chain(MU, 2026-06-26, strikes_around=15) — ATM straddle pricing\"\n      },\n      {\n        \"label\": \"Form 4 CEO sales May 29\",\n        \"url\": \"https://www.sec.gov/Archives/edgar/data/723125/000124265426000010/xslF345X06/primarydocument.xml\"\n      },\n      {\n        \"label\": \"Fundamentals / market cap\",\n        \"url\": \"fundamentals(MU) — $1.07T mktcap, forward P/E 8.77x\"\n      }\n    ],\n    \"confidence\": 5,\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\": 85,\n  \"score_breakdown\": {\n    \"catalyst_clarity\": 25,\n    \"magnitude_edge\": 10,\n    \"direction_evidence\": 15,\n    \"structure_efficiency\": 15,\n    \"liquidity\": 10,\n    \"quality_floor\": 10\n  },\n  \"draft\": {\n    \"slug\": \"2026-06-08-MU-earnings-debit-call-spread\",\n    \"paper_track\": false,\n    \"symbol\": \"MU\",\n    \"company\": \"Micron Technology, Inc.\",\n    \"sector\": \"semiconductors\",\n    \"risk_class\": \"core\",\n    \"pipeline\": \"catalyst\",\n    \"catalyst_type\": \"earnings\",\n    \"catalyst_date\": \"2026-06-24\",\n    \"headline\": \"Long MU debit call spread into Q3 FY26 earnings on June 24 — implied 19.5% vs realized 15.0%\",\n    \"thesis_short\": \"Micron reports earnings on June 24 with a bullish technical and analyst revision setup; a 950/1000 debit call spread captures upside while mitigating the 30%+ implied vol premium.\",\n    \"thesis_long\": [\n      \"Opening paragraph: Micron Technology (MU) reports Q3 FY26 earnings on June 24, 2026 (16 DTE). The stock has rallied ~200% YTD to ~$949, trading near all-time highs. The options market prices in an ~19.5% one-day implied move, which exceeds the historical average of ~15.0% by roughly 30%, indicating elevated vol expectations.\",\n      \"## The edge\",\n      \"Strong directional tailwinds from analyst revisions (strong buy consensus), bullish technical positioning above key moving averages, and call-side options skew. While implied vol is rich, the debit spread structure efficiently captures the bullish lean without overpaying for naked premium.\",\n      \"## Structure\",\n      \"950/1000 June 26 debit call spread. Net debit ~$20.33, max payoff $50 (2.46x). Breakeven at $970.33 (+2.2% from spot), well within the implied move range. Significantly cheaper than the ATM long call ($93 debit).\",\n      \"## What confirms / kills the thesis\",\n      \"Confirms: Analyst upgrades or guidance raise ahead of June 24 print; IV expansion >15% pre-event. Kills: CEO 10b5-1 distribution signals weigh on sentiment; broad memory sector headwinds or HBM oversupply concerns cap upside; post-earnings IV crush if beat is priced in.\",\n      \"## Risk\",\n      \"Event resolves but stock moves less than implied → debit decays to ~30% of paid premium. Gamma risk near expiration given 17 DTE. Elevated crash risk from ATH territory.\"\n    ],\n    \"structure\": {\n      \"type\": \"debit_call_spread\",\n      \"debit_call_spread\": {\n        \"long_strike\": 950,\n        \"short_strike\": 1000,\n        \"expiry\": \"2026-06-26\",\n        \"net_debit\": 20.33,\n        \"max_payoff\": 50,\n        \"breakeven\": 970.33\n      }\n    },\n    \"entry\": {\n      \"price_at_idea\": 949.28,\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\": 17\n    },\n    \"risk\": {\n      \"bear_case\": \"Event happens, stock barely moves or dips on sell-the-news; debit decays to ~30% of paid premium.\",\n      \"what_breaks_thesis\": \"Catalyst delayed past expiry; pre-empted disclosure ahead of event; outsized IV crush; HBM oversupply concerns cap upside.\",\n      \"position_size_pct\": 4.0,\n      \"max_loss_per_contract\": 20.33,\n      \"max_loss_note\": \"Max loss = net premium paid (defined-risk debit structure).\"\n    },\n    \"sources\": [\n      {\n        \"label\": \"Earnings calendar\",\n        \"url\": \"earnings(MU) confirmed June 24, 2026\"\n      },\n      {\n        \"label\": \"Options chain Jun-26\",\n        \"url\": \"options_chain(MU, 2026-06-26, strikes_around=15) — ATM straddle pricing\"\n      },\n      {\n        \"label\": \"Form 4 CEO sales May 29\",\n        \"url\": \"https://www.sec.gov/Archives/edgar/data/723125/000124265426000010/xslF345X06/primarydocument.xml\"\n      },\n      {\n        \"label\": \"Fundamentals / market cap\",\n        \"url\": \"fundamentals(MU) — $1.07T mktcap, forward P/E 8.77x\"\n      }\n    ],\n    \"confidence\": 5,\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": 90841,
  "stop_reason": "stop",
  "completed_at": "2026-06-08T21:53:47.732Z"
}