“Accumulate CPI July NO via resting bid to quarter-Kelly size. Edge is large: P(NO)~0.86 vs 0.62. Resting below ask (0.63) so no spread toll; fills as sellers cross. Cash not reserved while resting. June CPI 3.5% YoY, core MoM 0.0%, Hormuz gas shock lands in Aug data not July.”How well are these calls calibrated? →