Options Trading

Options transactions are complex, carry a high degree of risk, and are not suitable for everyone. For more information, please read the Characteristics and Risks of Standardized Options and the Risk Disclosure Statement for Futures and Options .  Also, there are specific risks associated with uncovered call writing, including the risk that the underlying stock could be sold at the exercise price when the current market value is greater than the exercise price the call writer will receive. Please read the Special Statement for Uncovered Options Writers before you trade. Moreover, there are specific risks associated with buying options, including the risk of the purchased options expiring worthless. Because of the importance of tax considerations to all options transactions, the investor considering options should consult his/her tax adviser as to how taxes affect the outcome of each options strategy. Commissions and other costs may be a significant factor. An options investor may lose the entire amount of an investment in a relatively short time. Supporting documentation for any claims, comparison, statistics, or other technical data will be supplied upon request.