{
  "checks": {
    "put_ratio_piecewise_payoff": true,
    "black76_inverse_roundtrip": true,
    "unchanged_prices_roundtrip_cost_72_5": true,
    "peak_to_trough_drawdown": true,
    "no_duplicate_contract_day": true,
    "underlying_marks_complete": true,
    "iv30_actual_bracketing": true,
    "original_run_unchanged_after_optional_daily_extension": true,
    "portfolio_prefix_invariance_300_380_days": true,
    "all_daily_ledger_reconciliation": true,
    "all_portfolio_integer_qty_participation_and_trade_sequence": true,
    "closed_ledger_pnl_reconciles_final_equity": true,
    "event_signal_before_fill_before_exit": true,
    "same_trade_costs_monotone": true
  },
  "all_checks_passed": true,
  "quality_flags": {
    "path_marks_below_terminal_max_loss": 0,
    "path_marks_above_credit": 0,
    "insolvent_runs": [],
    "missing_event_marks": 0,
    "caveat": "Payoff bounds are terminal, not guaranteed interim liquidation bounds. Independent daily settlement prices can violate combined bounds; report rather than clip."
  },
  "does_not_validate": [
    "bid/ask executability",
    "early assignment and futures delivery cashflows",
    "historical broker margin",
    "statistical alpha or reproducibility of author performance"
  ]
}