{
  "version": "2026-09-21-QT-A-review-v2",
  "vintage": {
    "experiment_id": "EXP-DATA-VINTAGE-01",
    "series_label": "US real GDP growth, qoq SAAR",
    "period": "2020Q2",
    "unit": "percent",
    "records": [
      {
        "version": "advance",
        "version_order": 1,
        "release_at": "2020-07-30T08:30:00-04:00",
        "received_at": null,
        "value": -32.9,
        "source_id": "BEA-2020Q2-ADV"
      },
      {
        "version": "second",
        "version_order": 2,
        "release_at": "2020-08-27T08:30:00-04:00",
        "received_at": null,
        "value": -31.7,
        "source_id": "BEA-2020Q2-SECOND"
      }
    ],
    "default_cutoff": "2020-08-03T16:00:00-04:00",
    "default_mode": "public",
    "threshold_percent": -32,
    "simulation": {
      "status": "teaching_assumption",
      "delay_seconds": 5
    }
  },
  "split": {
    "status": "teaching_assumption_except_4_for_1_event",
    "initial_shares": 1,
    "price_before": 400,
    "ratio": 4,
    "price_after": 102,
    "cash_distribution_per_new_share": 1,
    "actual_event_source": "AAPL-SPLIT-20200730"
  },
  "ledger": {
    "experiment_id": "EXP-CLOCK-01",
    "status": "entirely_fictional",
    "initial_cash": 1000,
    "target_shares": 2,
    "filled_shares": 2,
    "execution_price": 103,
    "entry_fee_if_filled": 1,
    "mark_price": 105,
    "exit_fee_if_position": 1,
    "wrong_clock_price": 100,
    "borrowing": false,
    "short_sales": false,
    "interest": 0,
    "tax": 0,
    "distributions": 0,
    "exit_price": 105,
    "timeline": {
      "status": "teaching_event_order_not_exchange_rule",
      "observation": "E0",
      "decision": "E1",
      "order_submitted": "E2",
      "execution": "E3",
      "fill_report_received": "E4",
      "booked": "E5",
      "valuation": "E6",
      "settlement": null,
      "settlement_status": "not_modelled",
      "economic_cash_convention": "recognize execution economics at E3 for ex-post teaching ledger; not settled or withdrawable cash"
    }
  },
  "information": {
    "status": "finite_teaching_model",
    "states": [
      "u+",
      "u-",
      "d+",
      "d-"
    ],
    "groups": [
      "u",
      "u",
      "d",
      "d"
    ],
    "price_changes": [
      2,
      -2,
      2,
      -2
    ],
    "rule_A": [
      2,
      2,
      0,
      0
    ],
    "rule_B": [
      1,
      -1,
      1,
      -1
    ]
  },
  "probability": {
    "experiment_id": "EXP-PAYOFF-MAP-01",
    "horizon": "one hypothetical terminal settlement T; no actual listed expiry",
    "status": "teaching_assumption",
    "states": [
      "w1",
      "w2",
      "w3"
    ],
    "settlement_points": [
      5900,
      6000,
      6100
    ],
    "weights": [
      0.2,
      0.5,
      0.3
    ],
    "event_A": [
      true,
      true,
      false
    ],
    "event_B": [
      false,
      true,
      true
    ]
  },
  "payoff": {
    "status": "real_product_terms_with_hypothetical_strike_prices_probabilities_premium",
    "contract_source": "CBOE-SPX-20260921",
    "type": "call",
    "strike": 6000,
    "multiplier": 100,
    "premium_points": 30,
    "fees": 0,
    "funding_cost": 0,
    "tax": 0,
    "uniform_alternative": {
      "status": "separate_fixed_teaching_model",
      "low": 5900,
      "high": 6100,
      "strike": 6000,
      "multiplier": 100,
      "query_y": 5000
    },
    "product_cash_delivery_timing": "business day following expiration (Cboe fact sheet); account booking not modelled"
  }
}