Risk Disclaimer

1. No Investment, Tax, Legal, or Professional Advice

GammaLedger is a self-directed record-keeping and analytics tool. It does not provide financial advice, investment advice, trading advice, legal advice, tax advice, accounting advice, suitability analysis, fiduciary services, brokerage services, portfolio management, or recommendations.

Any calculations, labels, summaries, strategy classifications, charts, AI responses, risk indicators, market-data views, blog posts, examples, or documentation are provided for educational and informational purposes only. They are not a recommendation, solicitation, research report, offer, or instruction to buy, sell, hold, exercise, assign, roll, hedge, or avoid any security, option, derivative, strategy, or account action.

2. Options and Derivatives Risk

Options and derivatives are complex instruments. Risks include, but are not limited to:

• Total loss: Option buyers may lose the entire premium paid, plus commissions and fees.
• Unlimited or substantial loss: Option writers and certain spread, ratio, uncovered, short, margin, or assignment-sensitive strategies may face losses greater than expected, including theoretically unlimited losses.
• Assignment and exercise risk: Short options may be assigned at any time when assignment is permitted, including before expiration, around dividends, during volatility, or when liquidity is poor.
• Expiration, pin, and gap risk: Positions may change rapidly near expiration, after hours, or around market-moving events. Small price moves can materially change outcomes.
• Liquidity and execution risk: Bid-ask spreads, volume, open interest, trading halts, market closures, and broker restrictions can prevent or impair entry, adjustment, or exit.
• Volatility and time decay: Option values may change due to implied volatility, time decay, rates, dividends, borrow costs, and model assumptions, even when the underlying price moves as expected.
• Margin risk: Margin requirements can change without notice. You may receive margin calls, be forced to deposit funds, or have positions liquidated at unfavorable prices.
• Concentration risk: Repeated trades in one ticker, sector, expiration, strategy, or account can magnify losses.
• Tax and regulatory risk: Option strategies can have complex tax, wash-sale, straddle, constructive-sale, reporting, and regulatory consequences.

Before trading options, review the current options disclosure document, broker risk disclosures, margin agreements, and applicable exchange or regulatory materials. Consult qualified professionals where appropriate.

3. Your Trading Responsibility

You are solely responsible for your trading decisions, account permissions, broker approvals, order entry, position sizing, risk management, tax reporting, compliance, and verification of all data. GammaLedger cannot determine whether any trade, strategy, portfolio, or account action is suitable for you.

Do not rely on GammaLedger as your only source of truth. Confirm positions, balances, orders, fills, assignment notices, margin requirements, tax lots, market prices, corporate actions, and account restrictions directly with your broker, clearing firm, tax adviser, legal adviser, and official market sources.

4. Analytics, Calculations, and Data Accuracy

GammaLedger calculations depend on user-entered data, imported files, parser assumptions, market data, formulas, browser behavior, and third-party APIs. Outputs may be inaccurate, incomplete, delayed, duplicated, stale, misclassified, or inconsistent with your broker's records.

Possible issues include incorrect option multipliers, missing fees, wrong open/close flags, duplicate imports, misunderstood rolls, incorrect assignment handling, corporate-action adjustments, stale prices, incorrect Greeks, timezone differences, tax-lot differences, local-storage corruption, browser bugs, and formula or implementation errors.

Risk estimates, P&L, ROI, max risk, breakevens, Greeks, annualized returns, strategy performance, AI summaries, and charts are estimates only. They may not reflect execution prices, slippage, liquidity, margin requirements, taxes, borrowing costs, dividends, early assignment, or broker-specific treatment.

5. AI and Automated Output Risk

AI-generated content may be wrong, misleading, incomplete, outdated, overconfident, or inconsistent with the data. AI may misunderstand options terminology, strategy structure, screenshots, broker rows, notes, tax context, or your objectives. AI outputs are not reviewed by a licensed professional and are not personalized financial advice.

Screenshot extraction and draft trade import features are convenience tools only. You must review every extracted row, date, ticker, strike, expiration, action, quantity, premium, fee, and confidence warning before importing or relying on it.

Never place, close, roll, hedge, size, or avoid a trade solely because of an AI response. AI features are for educational review and workflow assistance only.

6. Market Data and Third-Party Information Risk

Market data, quotes, news, fundamentals, analyst recommendations, earnings data, company profiles, and provider responses may be delayed, inaccurate, incomplete, unavailable, or subject to licensing restrictions. GammaLedger does not endorse, verify, or guarantee third-party information.

Do not use GammaLedger market data for time-sensitive trading decisions. Confirm real-time quotes, order status, executions, margin requirements, and corporate actions with your broker or official market data source.

7. No Broker, Adviser, Custodian, or Auto-Trading Service

GammaLedger is not registered as a broker-dealer, investment adviser, commodity trading adviser, futures commission merchant, introducing broker, exchange, clearing agency, bank, custodian, tax adviser, law firm, or accounting firm. GammaLedger does not hold money or securities, open accounts, recommend trades, transmit orders, execute trades, manage assets, provide discretionary services, or monitor accounts for compliance.

Any references to strategies, risk controls, AI coaching, signals, or analytics are descriptive and educational. They do not create an advisory, fiduciary, broker-customer, professional, or agency relationship.

8. Software, Security, and Local Storage Risk

GammaLedger is software and may contain bugs, vulnerabilities, compatibility problems, calculation errors, dependency issues, browser-storage failures, or data-loss scenarios. Local-first storage means we generally cannot recover data if your browser, device, backup, or files fail.

You are responsible for securing your device, browser, exported files, backups, API keys, and any sensitive data you choose to store. Browser-based encryption and local storage are not guarantees against malware, physical access, compromised devices, insecure backups, or provider-side incidents.

9. No Performance Guarantee

Past performance, backtests, sample data, screenshots, examples, AI summaries, win rates, ROI, profit factor, strategy labels, or historical trades do not guarantee future results. Trading outcomes can change quickly, and losses can occur even when historical analytics appear favorable.

10. Limitation of Liability

To the maximum extent permitted by law, GammaLedger, its maintainers, contributors, licensors, and affiliates are not liable for trading losses, investment losses, tax consequences, legal consequences, regulatory consequences, data loss, missed opportunities, lost profits, business interruption, account losses, third-party provider issues, AI outputs, software errors, or reliance on any GammaLedger output.

You use GammaLedger entirely at your own risk. Some jurisdictions do not allow certain exclusions or limitations, so some language may not apply to you.

11. External Risk Resources

For additional investor education, review official materials from your broker and relevant regulators, including the Options Clearing Corporation's Characteristics and Risks of Standardized Options, FINRA investor education on options, and SEC investor education about short-term trading, options, and margin risk.

12. Updates to This Disclaimer

We may revise this Risk Disclaimer from time to time. The "Last updated" date indicates when this page was last changed. Continued use of GammaLedger after changes are posted means you accept the updated Disclaimer.

13. Contact

Questions about this Risk Disclaimer can be submitted through the GammaLedger issue tracker. Do not post confidential, sensitive, personal, account, or trading information in public issues.