diff --git a/README.md b/README.md
index 7b9075a..b565a2b 100644
--- a/README.md
+++ b/README.md
@@ -363,6 +363,12 @@ always agrees, and the other is a load error. This covers every way a level can
 be rendered: a token, a `{calc()}` operand, and a `{..path}` reference — wherever
 the reference sits, including in a field the format renders.
 
+A `{calc()}` operand is held on its own terms too, so the same fence guards it:
+`{..cat.net} x 2 = {calc(net * 2, 2)}` names one field two ways and is a load
+error, with no path token anywhere. What an operand's draw fixes is the value it
+renders, so a reference reaching *through* it is caught as well, while a sibling
+its format never renders is free — that sibling is no part of the value.
+
 ```text
 token {p} renders a level that {p.first} reads a path into; name the fields you want instead
 ```
diff --git a/reference.go b/reference.go
index 2d4d5b6..b33cee9 100644
--- a/reference.go
+++ b/reference.go
@@ -44,9 +44,6 @@ func linkRefs(root map[string]node) error {
 // format (a token, a calc operand); this settles the rest — a reference, whether it
 // sits in that format or in anything the format renders, however deep.
 //
-// It walks t.held, so it covers both kinds of hold: the level a dotted token reads,
-// and the sibling a {calc()} reads.
-//
 // It runs after checkNoCycles, whose guarantee is what lets the walk terminate.
 func checkBoundLevelsHeld(root map[string]node) error {
 	return walkNodes(root, func(path string, n node) error {
diff --git a/render.go b/render.go
index d8e6c91..e5b2952 100644
--- a/render.go
+++ b/render.go
@@ -138,8 +138,7 @@ func expand(s *session, t *template) string {
 	var b strings.Builder
 	b.Grow(t.grow)
 	// One draw per held name, for this expansion only: a nested template and each
-	// repeat iteration get their own, since each is its own expansion. held reaches
-	// no further than readField, which keeps it and its maps on the stack.
+	// repeat iteration get their own, since each is its own expansion.
 	var held *draws
 	if len(t.held) > 0 {
 		held = &draws{