Risk disclosure

Draft placeholder. This page has not been reviewed by a lawyer and is not final.

Options carry substantial risk

Options trading is not suitable for all investors. Short-dated options can lose most or all of their value within a single trading session.

Automated trading

Automated strategies can fail because of software errors, data problems, connectivity issues or market conditions they were not designed for.

Backtests and past results

Backtested results are hypothetical. They are produced with the benefit of hindsight, do not reflect actual trading, and may differ materially from live results. Past performance, backtested or live, does not guarantee future results.