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the inside pad is fixed, the outside pad is actuated by the piston, both inner and outer pads should be adjusted as close to the rotor as possible with out them rubbing. The codas are good when dialed in correctly. If they feel firm and you just have no grip, pads may be contaminated, grinding...

I believe that outside piece is the adjustment for the pad, clockwise to bring the pad closer to the rotor. Coda is a sealed system so that adjustment is necessary unlike a motorcycle that is an open system and self adjusting.