very creative.So here is my solution invented this weekend
Works like a charm: 1) holds handle on the bottom in little current/wave action; 2) is actually more comfortable to hold than the bare handle; and 3) takes that monstrosity off my calf. The weight of the knife is about 8 oz. I'm sure in stronger waves/currents I may need more weight, but for what I dive now it works great.
Thank you all again for your input!