The same four rails as every run this week, unchanged, and every price and level trigger swept clear. Two findings are in the documents rather than the market. The runbook's MU roll trigger tells you to buy back a 1400 call the book does not hold: the collar actually filled at 1740/900 on 08-17, and three other docs already say so, so that row cannot be executed as written. And the 11x Dec-28 300/400 call spread the runbook describes is one spread, not eleven, because ten of the eleven short 400s netted against legacy longs on 08-17. Neither fires a rail today. Sell side: Morgan Stanley maintains GOOGL at $400, Mizuho cuts MU to $1,300 from $1,375.

What to do

• 280P x5 sit above the $260 long-leg ceiling.
  BUY TO CLOSE 5 GOOGL Dec15'28 360 PUT / SELL TO CLOSE 5 GOOGL Dec15'28 280 PUT

  one spread, limit, day · ~$17,940 debit ($35.88 net per spread at this morning's marks)
  Your playbook: “long leg never above $260 (must sit at/above the $230-250 floor zone, never below $230 where protection stops paying before history bottoms)”
  Same standing order as prior runs, repriced to this morning's marks: $35.88 net today against $36.84 on 08-24 and $36.76 on 08-21, so the fix is about $480 cheaper than yesterday. The 8x Dec-28 300P also trip this rail and are the separate matter. No order is proposed against them.

Still over, unchanged

• These fire every run until you act on them. No order attached.

  rail	now	limit
  program_cap	$175,059	$100,000 cap	1.8x, $75,059 over
  gross_leverage	1.726x	1.50 red / 1.30 amber	red
  net_cash / NLV	-0.068	-0.05 amber / -0.10 red	amber

Everything else clear

• Nearest trigger is tranche 3 confirm at $360, 3% away.

What other people said

• Morgan Stanley on GOOGL: maintains buy, $400.
• Mizuho Securities on MU: lowers target, rating held, $1,300, from $1,375.
• 9 new calls filed, none came due to score.
• The Seeking Alpha piece is a free-tier partial capture: the Summary bullets, the Quick Insights block and an opening fragment rendered, the body did not, and it states no price target, so it is filed with a null target and an assumed 12-month horizon. The Morgan Stanley and Mizuho rows carry no rationale text at all on either aggregator - the ratings feed prints the action and the number and nothing else. Five trading days of flat GOOGL consensus against a rising spot means the implied upside is shrinking without anyone changing their mind. The r/wallstreetbets leg did not run at all this morning - the Codex route hung and was killed, so retail sentiment on both names is unmeasured rather than absent.

Cost of compute

• H100 spot $2.33 against the $2.82 monthly composite. No tripwire.
• H100 SXM printed $2.33 on a 32-listing book, up 20.7% on the day, but that is a bounce off yesterday's $1.93, not a level change: the 24-hour average from the 3-hourly intraday captures is $2.18 and the 7-day average is $2.55, so today's print is still below the week. The intraday series ran $2.27 at 00:07, $2.67 at 03:07 and $2.33 at 06:07, which is the size of the noise on this book. B200 at $7.25 is up 9.4% on 36 listings. H100 NVL is the one thin book, 8 listings, so its $2.68 moves on a single machine.
• No tripwire. The 20%-vs-90-days test still cannot run: the daily series is not yet 90 days long, so the 30 and 90 day windows read n/a and avg30 and avg90 both read $2.48 because they cover the same short span. The 7-day window is now live and reads +16.5%. Read today's move against the 24-hour average, not against avg30 or avg90.

The check itself

• never worked rails.py tests every GOOGL price level against the GOOG quote.
  rails.json lists the campaign underlyings as ["GOOG", "GOOGL"] and rails.py loops those in order, taking the first one that has a quote and then breaking. GOOG is first, so thesis_break, t2_weakness, t3_confirmation, washout_buy, no_chase, rule6_close_shorts and rule8_crash_powder are all measured against GOOG. Every one of those levels is written as a GOOGL level: the runbook header says 'Reference price: GOOGL $347' and Part 2 says 'GOOGL closes >= $434'. This morning GOOG is $345.60 and GOOGL is $349.00, a 0.98% gap, so the script reads tranche 3 as 4.2% away while against GOOGL it is 3.2% away. No rail has flipped on this yet. This page shows the GOOGL number, matching the docs; the script's own output uses GOOG. Reported on 08-24 and still open. This run does not edit rails.json.
• will happen again get_price_snapshot returns an empty prior_close for most tickers.
  Eleven of thirteen tickers came back with 'prior-close': {} again this run. Only BRK B, EQT, RDDT and VOO populated it. The workaround this run: request the 'change' field on the same snapshot, which the feed does return, and derive prior close as last minus change. That is still the broker's own number, not an estimate, and it agrees with the position payload's daily_pnl (MU daily_pnl $13,776 on 525 shares is $26.24 a share against the reported change of $26.07). It cost one extra round of snapshot calls.
• never worked Runbook Part 2 tells you to buy back an MU 1400 call the book does not hold.
  The Part 2 row reads: 'MU closes >= $1,250 | ROLL the MU collar: BUY back 1400C, SELL ~1750C; SELL 900P, BUY ~1150P. Aim premium-neutral.' The book holds 5x MU Dec15'28 1740 CALL short against 5x Dec15'28 900 PUT long. There is no 1400 call. Three other places already record the real fill: tax-prep-2026.md line 26 ('MU collar: 5x MU Dec-28 1740C/900P vs 500 MU shares, filled 2026-08-17 09:52:56'), straddle-identifications.md line 25, and the runbook's own 'WHAT THE BOOK IS' section at line 105 ('525 MU shares collared 900/1740'). Only the Part 1 setup checkbox and this Part 2 trigger row still say 1400C. As written the trigger is also close to a no-op: it would roll to ~1750C, which is where the book already sits. MU is $936.71, 33.4% below the $1,250 level, so nothing fires today. This run does not edit the runbook.
• never worked The '11x Dec-28 300/400' call spread is one spread, not eleven.
  The runbook describes tranche 1 as '11x Dec-28 300/400 combo' in Part 1 and again in the book summary, and tax-prep-2026.md line 27 repeats it. The book holds 11 long GOOGL Dec15'28 300 CALL against 1 short Dec15'28 400 CALL. tax-prep-2026.md line 50 explains why: '2026-08-17 | Sold 11x GOOGL Dec-28 400C @ 70.53 (consumed legacy 10x long 400C)'. Ten of the eleven shorts netted against pre-existing longs, so the net structure is one 300/400 spread plus ten outright long 300 calls. This matters for the Part 2 exit rule 'Any long call spread marks >= 90% of its width - SELL that spread': ten of those eleven contracts have no width to measure against. The one real 300/400 spread marks 43.2% of its width today and the complete 350/500 spread marks 30.8%, so neither is near the exit either way. Never flagged in a prior run.
• will happen again The r/wallstreetbets pass hung and produced nothing.
  The prompt routes WSB through `codex exec`, one per ticker. The GOOGL run ran seven minutes without emitting a single result line, looping r.jina.ai and s.jina.ai proxy URLs and reddit.com/r/wallstreetbets/search/ URLs that the prompt's own notes already record as 403. The process held an open HTTPS connection at 0% CPU with a frozen log, so it was killed rather than waited out; the MU run never started. No post was read, no record was written. This is the second run in a row this route has failed: the 08-24 page already said 'the r/wallstreetbets route in the prompt has stopped working'. The discovery half of the route (web search and DuckDuckGo HTML) is what Codex is being asked to do and is what is failing, while the embed.reddit.com date/score half was never reached. Retail sentiment on both names is unmeasured today, and the honest reading is 'not checked', not 'nothing found'.
• never worked The subagent type used for the forecast pass cannot write or reach Chrome.
  Three of the four forecast legs were delegated to the `researcher` agent, which is read-only (no Write, and an explicit rule against using Bash for writes) and does not carry ToolSearch or the Claude-in-Chrome tools. All three came back as drafts rather than ledger writes: the two aggregator legs returned finished JSON records plus capture-file text for someone else to execute, and the Seeking Alpha leg could not even check whether Chrome was connected. The main thread executed all nine appends and all seven capture files itself, and drove Seeking Alpha through Chrome directly. Nothing was lost, but the delegation bought nothing on those legs. A write-capable agent type is the fix.