Investment & Risk Disclaimer
Effective date: To be set at launch.
Please read this carefully before relying on anything in GotOptions. It explains what GotOptions is — an analytics and educational tool — and, just as importantly, what it is not.
Not investment advice
Kearsarge Studios LLC is not a registered investment adviser, broker-dealer, or financial planner, and GotOptions does not provide investment, financial, legal, tax, or accounting advice. The information, calculations, and example structures in the app are general and impersonal — the same for every user — and are provided for informational and educational purposes only. They do not take into account your particular financial situation, objectives, risk tolerance, or needs.
Using GotOptions does not create an advisory, fiduciary, brokerage, or other professional relationship between you and Kearsarge Studios. Before acting on anything you see in the app, consult a licensed financial professional who can consider your individual circumstances.
Templates and suggested structures are starting points, not recommendations
Some features assemble an example multi-leg options structure (for example, a vertical, condor, butterfly, or calendar) from current strikes and expirations near a stock's price. These are illustrative templates generated by a fixed algorithm that knows nothing about you, your account, or your holdings. They are a starting point for your own analysis — not a recommendation, a solicitation, or a prediction that any structure will be profitable. You choose, review, and adjust every leg, and you alone decide whether to place any order with your broker.
Market data may be delayed or inaccurate
Market data in GotOptions is obtained from third-party sources, or — when you connect your own brokerage account — from your broker. This data may be delayed, indicative, incomplete, unavailable, or wrong. We do not generate, audit, or guarantee it, and we provide it "as is." Where a price is shown, it is frequently a calculated mid-point between bid and ask, which is not a price at which any trade can necessarily be executed. Always confirm current quotes, bid/ask spreads, and your actual fill prices with your broker before trading.
Calculated values are model outputs, not facts
Theoretical prices, implied volatility, "the Greeks" (delta, gamma, theta, vega, rho), returns, annualized returns, breakevens, and maximum profit/loss figures are model outputs. They are computed from formulas (including the Black-Scholes-Merton model) that rely on simplifying assumptions — for example, European-style exercise, a constant interest rate, and assumptions about dividends — that may not match the option you are looking at. Real-world results differ, sometimes materially, and do not account for early assignment, commissions, fees, the bid/ask spread, slippage, taxes, or corporate actions. Past or hypothetical performance is not indicative of future results.
Options trading involves substantial risk
Options trading is speculative and carries a high degree of risk. You can lose some, all, or — in certain strategies — more than your entire investment, and you may be subject to margin calls and assignment. Options are not suitable for every investor. Before trading options, review the industry disclosure document Characteristics and Risks of Standardized Options (the "Options Disclosure Document") and make sure you understand it.
Your decisions are your own
You are solely responsible for evaluating the merits and risks of any trade and for your own investment decisions. To the maximum extent permitted by law, Kearsarge Studios LLC is not liable for any trading or investment losses, or for any decision made or action taken in reliance on the app. This disclaimer is part of, and is subject to, the GotOptions Terms of Service, including its disclaimer of warranties and limitation of liability.