M1f delta=0.05: max implied w (S3L, C^2 dropped) = +0.0054 ; true W there = +0.1754 ; E_true - S3L(keepC) = 0.0524 ; min real gap 1.001
M1f delta=0.08: max implied w (S3L, C^2 dropped) = -0.0265 ; true W there = +0.2087 ; E_true - S3L(keepC) = 0.0416 ; min real gap 1.002
