Risk Disclosure

All Quantika material — calculations, models, charts, analysis and courses — is informational and educational. It does not constitute investment advice, nor an offer, solicitation or recommendation to buy or sell any financial instrument.

Quantika does not know your financial position, objectives, time horizon or risk tolerance, and therefore cannot assess whether a transaction is suitable for you. That assessment is yours alone, with the help of an authorised professional if you consider it necessary.

Trading financial markets involves risk of loss, which may extend to the entire capital invested. Do not trade with money you cannot afford to lose.

Options are complex, leveraged instruments. Among other risks:

• A purchased option may lose the entire premium paid if it expires worthless.
• Written positions may generate losses far exceeding the premium received, and in certain structures losses are theoretically unlimited.
• Writing options may result in assignment, obliging you to buy or sell the underlying on unfavourable terms, potentially before expiration.
• Liquidity may be limited: the spread between bid and ask can widen and make it difficult to close a position at the expected price.
• A position's value can change sharply due to shifts in implied volatility, even if the underlying price barely moves.

The probabilities, projections and valuations shown by the platform are produced by mathematical models built on assumptions: among others, a particular statistical behaviour of prices, an estimated volatility, and the absence of extraordinary events.

Real markets breach those assumptions frequently. Extreme moves occur more often than any model assumes. A calculated probability describes the behaviour of a model, not a guarantee about the future.

Market data comes from external sources and may contain delays, errors, gaps or subsequent revisions. It is not real-time data unless expressly stated. Prices shown may differ from those available at your broker at the moment of trading.

Accounting information is drawn from filings published by the companies themselves and may contain errors, restatements or criteria that are not comparable between companies.

Historical results, simulations and any retrospective analysis neither guarantee nor predict future results. A simulation over past data does not reproduce real execution conditions, nor the effect of commissions, slippage or available liquidity.

Use of the platform creates no advisory, fiduciary or agency relationship between you and Quantika. Quantika does not manage accounts, does not execute orders and receives no commission on any transaction you carry out.

Quantika does not provide tax advice. The tax treatment of your transactions depends on your country of residence and your personal circumstances. It is your responsibility to verify that using these tools, and any transactions you decide to carry out, comply with the rules applicable to you.

If anything in this document is unclear, write to soporte@quantikaresearch.com before using the platform to inform a decision.