All of these - and their opposits - are arguable, depending on the PC/moral stance adopted. Have a read of John Jacob Niles' The Ballad Book and you'll see that Sandy makes the interesting point. "All of the above," including Page, are just filling their expected or required roles. But "the daring member of the Lord's platoon of merry men who blew his horn to warn the sleeping" does something out of character. Why does he do that? Niles was semi-obsessed with finding a song to cover the inside story.

Clearly he's endangering himself but is he doing it out of friendship to Matty or Lady? Maybe some other, nefarious reason - that would be more satisfying, anyway.

Niles claims (I say claims) to have finally found a song that gives it. Seems Hornblower is interested in a lady that Page is hooked up with. Remembering that Barnard will kill Page if he was lying, Hornblower simply wants to warn them so it will look like nothing was happening and Page gets killed. Very devious.