Risk Disclaimer

1. Educational and Informational Purposes Only

The Services are provided solely for educational, informational, and analytical purposes.

Nothing in the Services constitutes, or should be construed as:

• investment advice;
• financial advice;
• legal advice;
• tax advice;
• accounting advice;
• brokerage services;
• portfolio management services;
• a solicitation, offer, or recommendation to buy, sell, hold, or trade any security, option, future, or other financial instrument; or
• personalized advice tailored to your specific financial situation, objectives, or risk tolerance.

Volarb is not acting as your financial adviser, broker, fiduciary, or agent.

2. Not a Registered Investment Adviser or Broker-Dealer

Volarb is not a registered investment adviser, broker-dealer, commodity trading advisor, or financial institution.

We do not provide individualized investment recommendations, execute trades on your behalf, manage client assets, or provide personal suitability determinations.

3. No Guarantee of Accuracy or Completeness

The Services may include market data, volatility analytics, model outputs, visualizations, forecasts, simulations, historical statistics, performance metrics, calculator outputs, or other analytical content.

All such information is provided on an "as available" basis and may be incomplete, delayed, inaccurate, stale, approximate, subject to model error, or unavailable.

We make no representation or warranty that any data, calculation, forecast, output, chart, or analytical result is accurate, complete, current, reliable, or suitable for any particular purpose.

4. No Guarantee of Results

There is no guarantee that any strategy, framework, model, signal, screen, calculation, or analytical output discussed or displayed through the Services will be profitable or successful.

Any examples, statistics, expected values, projected outcomes, probabilities, or scenario analyses are illustrative only and do not guarantee future performance or actual results.

5. Market and Trading Risk

Trading and investing involve substantial risk. You can lose some or all of your capital. In some cases, options and other leveraged instruments can produce losses rapidly.

Risks include, without limitation:

• market risk;
• volatility risk;
• gap risk;
• liquidity risk;
• execution risk;
• slippage;
• assignment risk;
• early exercise risk;
• pricing/model risk;
• concentration risk;
• correlation breakdown;
• event risk;
• regulatory or tax risk; and
• operational or technology risk.

Options strategies can be complex and may not be suitable for all investors.

6. Options and Volatility Strategies Involve Heightened Risk

Many of the concepts, tools, and analytics provided through the Services relate to options, volatility, premium selling, earnings trading, and other strategies that may involve asymmetric or nonlinear risk.

These strategies may expose you to:

• substantial losses;
• large adverse moves in short periods of time;
• margin calls;
• undefined or difficult-to-estimate tail risk;
• losses greater than premium received in certain structures;
• significant sensitivity to volatility changes, time decay, and liquidity conditions.

You are solely responsible for understanding the mechanics and risks of any strategy you choose to trade.

7. Hypothetical, Simulated, Backtested, and Model Performance Limitations

The Services may include hypothetical results, simulated results, scenario analysis, Monte Carlo outputs, backtests, modeled returns, or other non-live performance illustrations.

Such results have significant limitations, including:

• they do not reflect actual trading;
• they may be prepared with the benefit of hindsight;
• they may not account for liquidity constraints, commissions, fees, taxes, assignment, partial fills, or slippage;
• they may rely on assumptions that differ materially from real market conditions;
• they may overstate the consistency or repeatability of an approach.

Hypothetical or simulated results are not guarantees of future performance.

8. Past Performance Is Not Indicative of Future Results

Any historical returns, past trade outcomes, historical win rates, prior portfolio results, or prior model/account performance shown through the Services are not indicative of future results.

Market conditions change. Strategies that performed well in one period may perform poorly in another.

9. User Responsibility

You alone are responsible for:

• evaluating any information provided through the Services;
• determining whether a trade, strategy, or instrument is appropriate for you;
• conducting your own due diligence;
• verifying relevant data;
• understanding the risks involved;
• complying with applicable laws, regulations, brokerage requirements, and tax obligations; and
• all trading and investment decisions you make.

You should not rely solely on the Services when making financial decisions.

10. No Professional Relationship

Your use of the Services does not create any advisory, fiduciary, brokerage, agency, partnership, or professional-client relationship between you and Volarb.

11. Third-Party Data, Providers, and Links

The Services may rely on or reference third-party data providers, infrastructure providers, analytics providers, payment/billing providers, and other third-party services.

We are not responsible for:

• the accuracy or availability of third-party data;
• delays or interruptions in third-party services;
• third-party websites or linked content;
• any losses arising from reliance on third-party information or services.

12. Availability and Technical Limitations

The Services may experience outages, delays, bugs, API failures, missing data, stale values, charting errors, calculation issues, or other technical limitations.

Features may be added, changed, suspended, or removed at any time.

You should independently verify all critical information before acting on it.

13. No Warranty

TO THE MAXIMUM EXTENT PERMITTED BY LAW, THE SERVICES AND ALL RELATED CONTENT, DATA, ANALYTICS, AND OUTPUTS ARE PROVIDED "AS IS" AND "AS AVAILABLE," WITHOUT WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED, OR STATUTORY.

WE DISCLAIM ALL WARRANTIES, INCLUDING IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, NON-INFRINGEMENT, ACCURACY, RELIABILITY, AND AVAILABILITY.

14. Limitation of Liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, VOLARB AND ITS OFFICERS, MEMBERS, AFFILIATES, CONTRACTORS, AGENTS, LICENSORS, AND SERVICE PROVIDERS WILL NOT BE LIABLE FOR ANY DIRECT, INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES, OR FOR ANY LOSS OF PROFITS, REVENUE, TRADING LOSSES, GOODWILL, BUSINESS OPPORTUNITY, OR DATA, ARISING OUT OF OR RELATING TO:

• your use of or inability to use the Services;
• reliance on any information, analytics, forecasts, simulations, calculations, or outputs;
• any trading or investment decision;
• any market movement or trading loss;
• any interruption, delay, error, omission, or inaccuracy in the Services.

15. Seek Qualified Professional Advice

Before making trading, investment, legal, tax, or financial decisions, you should consult qualified professionals who understand your personal circumstances.

17. Contact

If you have questions about this Risk Disclaimer, contact: