NO on More than 100 Hormuz transit calls Jul 13-19 (IMF PortWatch)

AIS-visible transits are single digits/day (southern corridor halted since Jul 8; Sunday's six commodity carriers all crossed dark) and the resolver, IMF PortWatch, cannot see dark crossings — >100 for the week needs ~14.3/day. Resolver: IMF PortWatch daily chokepoint feed (AIS-based, ~8-day lag); priced risks: -3 pts (observable run-rate higher than 'handful' reporting implies), -2 pts (PortWatch backfill/revision). Cleanest way to lose: a US-Iran truce by ~Jul 16 releases the queued backlog with transponders back on, as Jun 24-25 printed 52 and 51 after the June de-escalation.