Retained incident replay
SMH liquidity is low relative to open interest
What happened
Two-sided depth within 1% is 4.88% of open interest.
Why it matters
This deterministic condition affected xyz:SMH on xyz. It is evidence to review, not proof that a loss or manipulation occurred.
Lifecycle
- Status active; severity warning
- Detected 2026-07-30T20:00:52.512Z
- Current cycle 2026-09-20T07:17:03.228Z
Recommended action
Compare the current oracle, mark, liquidity, funding, exposure, coverage, and freshness before changing a position or operating decision.
Supporting evidence
{
"depth100BpsUsd": 156770.35287,
"openInterestNotionalUsd": 3209401.6867200006,
"adequacyPercent": 4.884722081336564,
"thresholdPercent": 5
}