Reference Confidence Score

The score asks how usable the pricing anchor is, not whether the contract is cheap or rich. Published weights: cash-market status 20, source freshness 15, independent sources 10, depth 10, spread 10, mark-versus-last 10, related-instrument agreement 10, volatility regime 5, event flag 5, stale or price-band condition 5.

Bands: 90–100 strong live reference; 70–89 tradable reference, moderate caution; 40–69 limited reference quality; 0–39 elevated dislocation risk. If a required input is missing, the score is withheld and the page says insufficient data.

Weights can be previewed in the admin console for the current browser. That preview does not change the published methodology. The snapshot used here was taken at the cash close, so the cash-status component is low and scores of 90–100 should not appear.