{
  "request_id": "0c0baae7-6a47-42d7-8e05-df0e51e46ae5",
  "timestamp": "2026-01-05T14:45:12.897236+00:00",
  "status": "REJECTED",
  "strategy_id": "equity-scout-v1",
  "asset_class": "equity",
  "symbol": "TSLA",
  "side": "long",
  "notional": 10,
  "quantity": 0,
  "price": 0,
  "fees": 0,
  "reason": "REJECTED: max_open_positions exceeded for 'equity-scout-v1' open=1 cap=1 (symbols=['MSFT'])",
  "thesis": {
    "intent_id": "0c0baae7-6a47-42d7-8e05-df0e51e46ae5",
    "thesis_id": "5ff9292a-5e22-4478-a9b1-302737ffbe1f",
    "created_at": "2026-01-05T14:45:12.713631+00:00",
    "strategy_id": "equity-scout-v1",
    "agent_name": "equity-scout-v1",
    "run_id": null,
    "asset_class": "equity",
    "symbol": "TSLA",
    "side": "long",
    "notional": 10,
    "confidence": 0.55,
    "expected_horizon": "1h",
    "summary": "Equity Scout TSLA vs SPY: rel5=0.28% rel15=2.73% rel1h=NA (thr5=0.10%) -> BUY",
    "reasoning_ref": "equity_scout rel5=0.002772 rel15=0.027259 rel1h=NA thr5=0.001000 baseline=SPY",
    "features": {
      "alpha_features": {
        "side": "long",
        "side_mult": 1,
        "symbol_5m_bps": 30.919266360059442,
        "baseline_5m_bps": 3.202608670333851,
        "rel_5m_bps": 27.716657689725587,
        "symbol_15m_bps": 330.9973291939644,
        "baseline_15m_bps": 58.40420393167161,
        "rel_15m_bps": 272.5931252622928,
        "symbol_1h_bps": null,
        "baseline_1h_bps": null,
        "rel_1h_bps": null,
        "sym_vol": 0.001048923251291281,
        "sym_vol_bps": 10.48923251291281,
        "base_vol": 0.0001281624371967026,
        "base_vol_bps": 1.2816243719670262,
        "assumed_spread_bps": 1,
        "slippage_bps": 3,
        "fee_bps": 10,
        "safety_margin_bps": 2,
        "tick_age_s": 0.015738,
        "hour_utc": 14,
        "dow_utc": 0,
        "is_weekend": 0
      },
      "alpha_model": {
        "model_type": "heuristic_v0",
        "model_version": "heuristic_v0",
        "horizon": "15m",
        "expected_edge_bps": 103.95126373046831
      },
      "position_sizing": {
        "mode": "vol_target",
        "target_risk_usd": 25,
        "vol_1h": 0.019901919388737605,
        "k": 8,
        "min_notional_usd": 10,
        "max_notional_usd": 10,
        "fallback_notional_usd": 10,
        "raw_notional_usd": 157.020031031199,
        "clamped_notional_usd": 10,
        "approx_risk_per_usd_notional": 0.15921535510990084,
        "approx_realized_risk_usd": 1.5921535510990084,
        "used_fallback": false,
        "paper_capital_usd": 2000,
        "risk_bps_per_trade": 125,
        "risk_profile": {
          "profile_id": "equities_paper_v1",
          "capital_usd": 2000,
          "risk_per_trade_bps": 125,
          "max_daily_loss_bps": 50,
          "max_daily_gross_bps": 1000,
          "target_annual_return_bps": 500
        },
        "vol_sample_interval_seconds": 10
      },
      "rel_strength": {
        "baseline_symbol": "SPY",
        "threshold_5m": 0.001,
        "moves": {
          "5m": {
            "symbol_move": 0.003091926636005944,
            "baseline_move": 0.00032026086703338514,
            "rel_move": 0.002771665768972559
          },
          "15m": {
            "symbol_move": 0.03309973291939644,
            "baseline_move": 0.005840420393167161,
            "rel_move": 0.02725931252622928
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        }
      },
      "edge_components": {
        "expected_edge_bps": 103.95126373046831,
        "spread_bps": 1,
        "slippage_bps": 3,
        "fee_bps": 10,
        "safety_margin_bps": 2,
        "total_cost_bps": 16,
        "net_edge_bps": 87.95126373046831,
        "gate_pass": true,
        "edge_gate_enabled": true,
        "min_net_edge_bps": 0,
        "gate_applied": true,
        "assumed_spread_bps": 1,
        "cost_assumptions": {
          "slippage_bps": 3,
          "fee_bps": 10,
          "fee_bps_assumed": 10,
          "fee_included_in_expected_edge": false,
          "safety_margin_bps": 2,
          "spread_is_assumed_one_way": true
        },
        "tick_age_s": 0.015738,
        "expected_edge_inputs": {
          "rel5_bps": 27.716657689725587,
          "rel15_bps": 272.5931252622928,
          "rel1h_bps": 0
        }
      },
      "tick": {
        "symbol": "TSLA",
        "price": 452.57,
        "timestamp": "2026-01-05T14:45:12.662482Z",
        "source": "finnhub-quote"
      },
      "guardrails": {
        "require_market_hours": true,
        "cooldown_seconds": 900,
        "max_tick_age_seconds": 60,
        "market_tz": "America/New_York"
      }
    }
  },
  "fills": [],
  "desk_id": "equities_momentum",
  "desk_name": "Equities Momentum Desk",
  "risk_context": {
    "cap_key": "TSLA",
    "max_notional_usd": 10,
    "notional_utilization": 1,
    "fees_usd": 0,
    "fees_bps": 0,
    "paper_avg_slippage_bps_vs_mid": null,
    "paper_mid_price": null
  }
}