\begin{landscape} \begin{table}[htbp] \centering \small \caption{Panel Regressions: RV on Post $\times$ Novelty (5-min)} \label{ch3:tab:panel_rv_novelty} \begin{threeparttable} \begin{tabular}{lccccccc} \toprule & E-mini S\&P 500 & VIX Futures & 10Y T-Note & 5Y T-Note & Dollar Index & Crude Oil WTI & Gold \\ \midrule Intercept & 3.26*** & 10.79*** & 1.09*** & 0.64*** & 0.25*** & 5.85*** & 3.49*** \\ & (0.33) & (1.54) & (0.09) & (0.07) & (0.08) & (0.62) & (0.27) \\ Post $\times$ Novelty & 3.09 & 8.32 & 0.14 & 0.25 & 0.63 & 4.94 & 1.93 \\ & (1.37) & (5.78) & (0.35) & (0.30) & (0.36) & (2.40) & (1.01) \\ \midrule $N$ & 9,028 & 7,930 & 9,028 & 9,028 & 9,028 & 9,028 & 8,967 \\ $R^2$ & 0.097 & 0.040 & 0.003 & 0.013 & 0.043 & 0.071 & 0.050 \\ Adj.\ $R^2$ & 0.097 & 0.040 & 0.003 & 0.012 & 0.042 & 0.071 & 0.050 \\ \bottomrule \end{tabular} \begin{tablenotes}[flushleft] \small \item \textit{Notes:} Dependent variable: RV (bps, 5-min). Post$\times$Stance = $\mathbf{1}[t > 0] \times \text{Stance}$ (z-scored). Post$\times$Novelty = $\mathbf{1}[t > 0] \times \text{Novelty}$ (z-scored). $K = 5$ min rolling window, $\pm 30$ min event window. Clustered SE by event date. Stars: BH-adjusted. \item $^{***}p<0.01$, $^{**}p<0.05$, $^{*}p<0.10$. \end{tablenotes} \end{threeparttable} \end{table} \end{landscape}