Risk disclosure

Options trading involves substantial risk and is not suitable for all investors. Before trading options, read Characteristics and Risks of Standardized Options, published by The Options Clearing Corporation, and Tradier’s disclosures.

Probabilities are prices, not predictions

P(above) is a risk-neutral probability implied by option prices at a moment in time. It reflects what the market is charging, including risk premia, and is not a forecast of what will happen. It can change quickly and can be wrong.

Spreads can lose their full cost

Buying a vertical spread can lose the entire debit paid. Selling one can lose up to the width of the spread minus the credit received, per spread. Same-day (0DTE) options can go from full value to zero in minutes.

Execution and data risk

• Quotes can be wide, stale or missing. Displayed prices may not be available when your order arrives.
• Orders may fill partially, at a worse price within your limit, or not at all.
• Early assignment of a short leg is possible on American-style options. Positions held to expiry may be exercised or assigned, and pin risk near the strike is real.
• Systems fail. Our service, Tradier, data feeds or your connection may be unavailable when you need them.

Agents

Automated agents can make mistakes quickly and repeatedly. You are responsible for any agent you connect. Start in paper mode, keep limits tight, and know where the kill switch is.

No advice

strike.trading is software. It is not a broker-dealer or investment adviser and does not recommend any trade. Past results, simulated or real, do not indicate future results. Trade only with money you can afford to lose.