Goat format ruling
Armed Dragon LV5

Card effect (current official text)You can send 1 monster from your hand to the GY, then target 1 monster your opponent controls with ATK less than or equal to the sent monster's ATK; destroy that target. During the End Phase, if this card destroyed a monster by battle this turn: You can send this card to the GY; Special Summon 1 "Armed Dragon LV7" from your hand or Deck.
Rulings
- Sending 1 Monster Card from your hand is a cost.
- You select the monster you want to destroy when you activate the effect of Armed Dragon LV5. This effect targets.
- You select a monster for the effect of Armed Dragon LV5 using the monster’s current ATK, not the original ATK.
- You cannot activate Armed Dragon LV5’s effect if there isn’t a monster you can destroy.
- If a level monster fulfills its condition to Special Summon the next-highest level (for example, if Armed Dragon LV5 destroys a monster as a result of battle), and the level monster is then Set, or removed from play permanently, or sent to the GY and then Special Summoned from the GY, then its condition is reset and it is no longer considered to have met the condition to level up to the next level.
Rulings data courtesy of Format Library — formatlibrary.com. Spotted an inaccuracy? Flag it in the Goat forum — sourced change requests get reviewed.