{
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      "code": "rejected",
      "scope": "expiry",
      "severity": "INFO",
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      "interval_to": null,
      "strike": null,
      "target_key": "2026-09-29",
      "message_short": "Rejected: missing_quotes",
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    {
      "code": "low_tier",
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      "interval_to": null,
      "strike": null,
      "target_key": "2026-12-29",
      "message_short": "LOW tier (direct straddle)",
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      "metrics": {}
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    {
      "code": "rejected",
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      "strike": null,
      "target_key": "2027-03-30",
      "message_short": "Rejected: insufficient_strikes",
      "message_long": "Expiry rejected: insufficient_strikes",
      "metrics": {
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    {
      "code": "baseline_thin",
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      "interval_to": "2026-05-12",
      "strike": null,
      "target_key": "05-05\u219205-12",
      "message_short": "Thin baseline",
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      "metrics": {
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    },
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      "code": "low_source",
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      "severity": "WARN",
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      "interval_from": "2026-05-05",
      "interval_to": "2026-05-12",
      "strike": null,
      "target_key": "05-05\u219205-12",
      "message_short": "LOW confidence",
      "message_long": "Event confidence: LOW (baseline not robust)",
      "metrics": {
        "confidence": "LOW"
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    },
    {
      "code": "baseline_thin",
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      "interval_to": "2026-05-19",
      "strike": null,
      "target_key": "05-12\u219205-19",
      "message_short": "Thin baseline",
      "message_long": "Baseline quality: THIN (few neighbors: 1)",
      "metrics": {
        "baseline_n": 1
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    },
    {
      "code": "low_source",
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      "severity": "WARN",
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      "interval_from": "2026-05-12",
      "interval_to": "2026-05-19",
      "strike": null,
      "target_key": "05-12\u219205-19",
      "message_short": "LOW confidence",
      "message_long": "Event confidence: LOW (baseline not robust)",
      "metrics": {
        "confidence": "LOW"
      }
    },
    {
      "code": "baseline_fallback",
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      "severity": "WARN",
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      "interval_from": "2026-05-19",
      "interval_to": "2026-05-26",
      "strike": null,
      "target_key": "05-19\u219205-26",
      "message_short": "Baseline fallback",
      "message_long": "Baseline quality: FALLBACK (edge case)",
      "metrics": {
        "baseline_n": 1
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    },
    {
      "code": "low_source",
      "scope": "interval",
      "severity": "WARN",
      "expiry_dt": null,
      "interval_from": "2026-05-19",
      "interval_to": "2026-05-26",
      "strike": null,
      "target_key": "05-19\u219205-26",
      "message_short": "LOW confidence",
      "message_long": "Event confidence: LOW (baseline not robust)",
      "metrics": {
        "confidence": "LOW"
      }
    },
    {
      "code": "baseline_fallback",
      "scope": "interval",
      "severity": "WARN",
      "expiry_dt": null,
      "interval_from": "2026-05-26",
      "interval_to": "2026-06-02",
      "strike": null,
      "target_key": "05-26\u219206-02",
      "message_short": "Baseline fallback",
      "message_long": "Baseline quality: FALLBACK (edge case)",
      "metrics": {
        "baseline_n": 1
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    },
    {
      "code": "low_source",
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      "severity": "WARN",
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      "interval_from": "2026-05-26",
      "interval_to": "2026-06-02",
      "strike": null,
      "target_key": "05-26\u219206-02",
      "message_short": "LOW confidence",
      "message_long": "Event confidence: LOW (baseline not robust)",
      "metrics": {
        "confidence": "LOW"
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    },
    {
      "code": "baseline_fallback",
      "scope": "interval",
      "severity": "WARN",
      "expiry_dt": null,
      "interval_from": "2026-06-02",
      "interval_to": "2026-06-30",
      "strike": null,
      "target_key": "06-02\u219206-30",
      "message_short": "Baseline fallback",
      "message_long": "Baseline quality: FALLBACK (edge case)",
      "metrics": {
        "baseline_n": 0
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    },
    {
      "code": "neg_fwdvar",
      "scope": "interval",
      "severity": "INFO",
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      "interval_from": "2026-06-30",
      "interval_to": "2026-07-28",
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      "target_key": "06-30\u219207-28",
      "message_short": "NEG forward variance",
      "message_long": "Negative forward variance: -0.0232",
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        "ba_age_far": 2.4489929999999998
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    {
      "code": "baseline_thin",
      "scope": "interval",
      "severity": "INFO",
      "expiry_dt": null,
      "interval_from": "2026-07-28",
      "interval_to": "2026-12-29",
      "strike": null,
      "target_key": "07-28\u219212-29",
      "message_short": "Thin baseline",
      "message_long": "Baseline quality: THIN (few neighbors: 1)",
      "metrics": {
        "baseline_n": 1
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    },
    {
      "code": "low_source",
      "scope": "interval",
      "severity": "WARN",
      "expiry_dt": null,
      "interval_from": "2026-07-28",
      "interval_to": "2026-12-29",
      "strike": null,
      "target_key": "07-28\u219212-29",
      "message_short": "LOW confidence",
      "message_long": "Event confidence: LOW (baseline not robust)",
      "metrics": {
        "confidence": "LOW"
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    },
    {
      "code": "elevated_fwdvol",
      "scope": "interval",
      "severity": "WARN",
      "expiry_dt": null,
      "interval_from": "2026-05-05",
      "interval_to": "2026-05-12",
      "strike": null,
      "target_key": "05-05\u219205-12",
      "message_short": "Elevated fwd vol (30.1%)",
      "message_long": "Forward volatility: 30.1% (threshold: 30%)",
      "metrics": {
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    },
    {
      "code": "elevated_fwdvol",
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      "severity": "WARN",
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      "interval_from": "2026-05-19",
      "interval_to": "2026-05-26",
      "strike": null,
      "target_key": "05-19\u219205-26",
      "message_short": "Elevated fwd vol (30.3%)",
      "message_long": "Forward volatility: 30.3% (threshold: 30%)",
      "metrics": {
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        "threshold": 0.3
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      "code": "low_coverage",
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      "interval_from": null,
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      "strike": null,
      "target_key": "run",
      "message_short": "Low coverage (39%)",
      "message_long": "Weighted-mid coverage: 38.5% (threshold: 50%)",
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  "summary": {
    "total": 18,
    "fail_count": 0,
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    "build_metadata": {
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      "notes": "UI clamps horizon; avoid LEAPS/illiquid expiries beyond 8 weeks"
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      "counts": {
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      "asof_source": "structure_summary.quote_context_dt",
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      "source": "market_calendar.list_upcoming_events",
      "id_namespace": "market_calendar",
      "id_format": "CATEGORY_YYYYMM",
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}