Exposure Cap Contains Losses

PaperTrade's restriction on new exposure prevents a disorderly unwind and gives the venue time to review trades tied to El33's $20 million manipulation allegation. This is the most likely near-term path because exchanges typically stabilize margin and open interest first, then publish an incident report or settlement plan.

Each figure is the modeled move of the S&P 500 if the outcome occurs. For information only. Not investment advice.