Two Bands, One Bumpy Half-Year

What is the main job of rebalancing back to target?

• To raise the book's return
• To keep the book's risk where your page set it
• To lock in profits after every rally

Your band fires and asks you to buy a sleeve that just crashed. You'd rather switch from threshold to calendar rebalancing first. What is that?

• A sensible update, because calendar rebalancing is a valid method
• The same failure as widening the band after it fires
• Allowed, as long as you write down the new type