Kill criteria

Another PT market starts quoting a much higher implied APY than the one you hold. Which line on your card fires?

• The pool-depth line
• The redemption line
• None: a better rate elsewhere is a chase, not a kill

A line on your card fires. What comes before selling?

• Nothing: the card exists so you don't have to think
• Pricing the exit at the pool's implied APY and the asset's price, and comparing it with holding
• Waiting for the PT's price to recover