Risk Disclaimer

Not investment advice

Nothing in the Service - no number, chart, campaign type, break-even line, risk graph or label - is a recommendation, solicitation or offer to buy or sell any security, nor an endorsement of any strategy. Team Iron Wheel is not a registered investment adviser, broker-dealer, tax adviser or accountant, and provides no personalised advice. Nothing here takes account of your objectives, financial situation or needs. Decide for yourself, and consult a licensed professional before acting.

Options carry substantial risk

Options are not suitable for every investor. Selling uncovered options exposes you to potentially unlimited loss; short puts can require you to buy stock well above its market price; long options can expire worthless and lose 100% of their premium; and early assignment can occur at any time on American-style contracts. Margin trading amplifies both gains and losses, and your broker can liquidate positions without notice.

Before trading options, read the standardised risk disclosure your broker is required to give you - Characteristics and Risks of Standardized Options, published by The Options Clearing Corporation.

Every calculation is a model, not a fact

The Service computes its figures from the trades you enter. Specifically:

• Realised profit and loss uses first-in-first-out lot matching with your commissions baked in. Your broker or your tax jurisdiction may use a different method, and wash-sale rules, corporate actions and assignments are not applied automatically. It is not a tax report.
• Capital requirement is a Reg-T or TIMS approximation depending on the model you selected in settings. It is a simplified reimplementation and will not match the requirement your broker actually applies, which depends on house rules, concentration, portfolio margining and intraday risk. Never size a position from this number.
• Break-even prices, Greeks and the profit/loss risk graph come from a Black-Scholes-Merton model using an implied volatility, a risk-free rate and a dividend yield that are themselves estimates. Real option prices deviate from the model, and the graph assumes volatility and rates stay put - they do not.
• Unrealised profit and loss depends on open market data sources, which may be delayed, stale, wide-spread or simply wrong, especially on illiquid contracts and outside market hours.

Your broker is the authoritative record

Reconcile against your broker's statements and trade confirmations before you act on anything you see here, and before you file a tax return. Where the two disagree, your broker is right.

Past performance is not indicative of future results

Historical returns shown for a campaign describe what already happened to positions you entered. They say nothing about what will happen next, and they are not a projection.

No liability

You use the Service at your own risk, and you are solely responsible for your trading decisions and their consequences. Team Iron Wheel accepts no liability for trading losses or tax consequences arising from your use of the Service, as set out in the Terms of Service.

Questions: info@ironwheel.app.