It should go around it, but not sure if it will be comfortable. The section with the chip is not very bendy. You can always hook it on a belt loop if it isn't comfy. Good luck!
ETA: Just dug up or bands and they measure slightly longer than 10" (with a flexible ruler), but since the center does not bend, that does make it smaller. I am getting about 9" with only one peg in place. Looks like you will need to come up with a different way to have it on you. Good luck!
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