FADE — other outcome: The published FADE condition is met.
Positions close: May 19, 2026, 10:34 PM UTC
No verified current price reference is attached. Do not treat this illustration or headline as live data.
Editorial illustration
Legacy terms: no immutable publication-time snapshot is attached. If stored wording, structured terms or measurement windows conflict, this market requires manual review; a later display change does not rewrite the agreement.
Research quality and completeness vary. Missing evidence is explicitly marked below.
▲ Back case
Incomplete research: a developed BACK case and supporting evidence have not been published. Automated review scores are not independent investment research.
▼ Fade case
Incomplete research: a developed FADE case and supporting evidence have not been published. Automated review scores are not independent investment research.
▼ FADE settlement condition
Resolve FADE if SPY does not post a higher percent return than TLT over the stated window.
⊕ What would void
Resolve VOID if either SPY or TLT lacks a usable public reference at settlement.
Resolution path
Published
May 18, 2026, 10:34 PM UTC
Research verification
No independent research review is recorded.
Scheduled opening
May 18, 2026, 10:34 PM UTC
Pools close
May 19, 2026, 10:34 PM UTC
Resolution
May 30, 2026, 6:31 PM UTC
Stored historical terms & technical evidence
Stored historical wording
Use https://finance.yahoo.com/ as the source of truth. Read the event log through 2026-05-12 23:34 UTC. Settlement closes at 2026-05-08 23:34 UTC and resolves at 2026-05-12 23:34 UTC. Resolve BACK when The named event occurs and is recorded by 2026-05-12 23:34 UTC. Resolve FADE when The named event does not occur by 2026-05-12 23:34 UTC. Resolve VOID only when The event record is unavailable or not auditable at sett…
Stored structured settlement terms
Legacy record: structured terms as stored. No immutable publication-time snapshot is attached; these records alone do not establish the exact terms served.
BACK condition
Resolve BACK if SPY posts a higher percent return than TLT over the stated window.
FADE condition
Resolve FADE if SPY does not post a higher percent return than TLT over the stated window.
VOID condition
Resolve VOID if either SPY or TLT lacks a usable public reference at settlement.
Source field / metric
daily close or reference spot price / relative performance from open to resolve
Direction / threshold
outperform / Not specified
Stored window
through 2026-05-23 22:34 UTC · opens 2026-05-18T22:34:42.274Z · closes 2026-05-19T22:34:42.274Z · administrative resolve 2026-05-23T22:34:42.274Z
backfilled_from_published_thesis
manual_outlier_fix
Recorded outcome evidence
VOID · recorded 2026-05-30T18:31:56.528Z · Resolution 37064d16-c5f3-4682-a5a1-442085bac887
Resolver rationale and source record
Operator note: resolved VOID despite zero positions because this thesis remains part of the public record and should settle transparently against its published rule. Source checked: https://finance.yahoo.com/quote/SPY/history/. No payouts were required.
