Disclosures

Options trading risk

Options involve risk. Losses can be substantial.

Options involve risk and are not suitable for every investor. You can lose all of the money you put into an options position, and losses can happen quickly.

Volcra only builds defined-risk positions, where the most you can lose is known when the position is opened. Defined risk is not low risk: that maximum loss can still be reached, and several positions can lose at the same time.

Before trading options you should read the options risk disclosure document your broker gave you when it approved your account for options. If you do not have it, ask your broker for it.

Commissions, fees, bid/ask spreads, early assignment, and gaps in price when the market opens can make results worse than any estimate shown in Volcra.

AI assistance is not advice

AI-generated explanations are for information only. They can be wrong and are not investment advice or a recommendation.

Some parts of Volcra use artificial intelligence: written explanations of trades, answers in the chat panels, summaries of your activity, and an optional check that can veto a borderline trade before it is placed.

AI output can be incomplete, out of date, or simply wrong, even when it sounds confident. Trade selection is driven by Volcra's quantitative rules; the AI is advisory and, where you turn it on, can only remove a trade, not add one.

Nothing Volcra shows you, including AI output, scanner results, scores and 'opportunities', is investment advice, a recommendation, or an offer to buy or sell any security. Volcra does not know your full financial situation.

Volcra is not your broker or adviser

Volcra is software. It is not a broker-dealer or investment adviser. Your broker holds your account and your money.

Volcra is a software service. It is not a broker-dealer, an investment adviser, or a bank, and it never holds customer funds or securities. You connect your own brokerage account using API keys you create at your broker. Your account, cash and positions stay with that broker, under your own agreement with it. The keys you connect decide the mode: practice (paper) keys trade in a paper account, live keys trade real money. You choose which keys to connect; that decision is yours, not Volcra's.

Orders are sent to your broker using the connection you set up. Your broker decides whether to accept them, executes them, and is responsible for your account statements, margin and options approval, and its own disclosures.

Your broker's records are the official record of your account. If anything in Volcra disagrees with your broker, your broker is right.

Automated trading

When the auto-trader is on, Volcra opens and closes positions in your account automatically, without asking you first.

Volcra's auto-trader can open, manage and close options positions in your account automatically. When it is on, it runs on our servers around the market clock, whether or not you are signed in, and it does not ask you before each order unless you turn on per-order confirmation.

You choose whether the auto-trader is on, which strategies and limits it may use, and whether it trades in a practice account or a real-money account. You can pause it at any time, and you can always close any position yourself, including with Emergency Close.

Automated systems can fail. Software errors, connection problems, broker outages, bad or late market data, and unusual market conditions can cause orders to be missed, delayed, duplicated, or filled at worse prices than expected. Safety limits reduce these risks but cannot remove them.

We send you a daily email with a summary and the details of the day's activity, and an immediate alert when something needs your attention. Review those emails and your broker statements regularly.

Practice (paper) trading is not real trading

Practice and paper results are simulated or use a broker's paper account. Real-money results can be very different.

Volcra can trade in a simulation, in your broker's paper (practice) account, or in a real-money account. Simulated and paper fills are not real: they can assume prices, liquidity and timing you would not get with real money.

Good results in practice do not mean you will get good results with real money. Real orders can fill at worse prices or not fill at all, and real losses are your money.

The screen and the emails Volcra sends you name the mode the platform is in. Check it before you act.

No guarantee; past performance

Past and simulated results, backtests and estimates do not guarantee future results.

Volcra does not guarantee any profit or protect you from loss. Expected values, probabilities, scores, backtests, simulations and performance reports are estimates built on assumptions and historical data. They are not promises.

Past performance, whether real, paper or simulated, does not guarantee future results. Markets change, and a strategy that worked before can stop working.

Market data may be delayed or wrong

Market data can be delayed, incomplete or wrong. Prices shown may not be the prices you get.

Quotes, option chains, Greeks and account figures come from third parties, including your broker and data vendors. They can be delayed, interrupted, incomplete or wrong. When the market is closed, figures may be from the last close.

Volcra tries to detect stale data and refuses to open new trades on it, but it cannot catch every problem. The prices you actually get from your broker are the ones that count.

You are responsible for your decisions

You are responsible for every trade in your account and for the risk you choose to take, including trades the auto-trader places for you.

You decide whether to use Volcra, which account it trades in, how much capital it may use, and which limits apply. You are responsible for those decisions and for every trade placed in your account, whether you placed it yourself or the auto-trader placed it for you under the settings you chose.

Only trade with money you can afford to lose. Make sure your settings, your broker account and your options approval level match your goals and your tolerance for loss, and review them regularly.

If you are unsure whether options or automated trading are right for you, talk to a licensed financial professional before you start.