*RJA is not an advisor as to taxation, accounting, legal, or regulatory matters in any jurisdiction, and RJA is expressly not providing any advice as to such matters.
The material presented herein is for informational purposes only. It is not intended to be an offer or a solicitation of an offer to buy/sell relevant securities from/to RJA. It does not constitute a recommendation to invest in any strategy or security. The information contained herein is believed to be reliable and has been developed in good faith, but no representation or warranty, expressed or implied, is made by RJA as to the accuracy or completeness of the information.
The material contained herein is solely intended for sophisticated investors who have the financial expertise to understand the attendant risks and limitations associated with financial instruments generally and derivative securities specifically, and who have access to resources to independently analyze the information and material contained herein. An investor should carefully consider, amongst other things, the objectives, risks, costs, and fees associated with any strategy, as well as how the strategy fits into their overall investment portfolio, before engaging in any strategy or transaction. For a discussion regarding the risk factors associated with trading options, please see Characteristics and Risks of Standardized Options on the website of the Options Clearing Corporation:
https://www.theocc.com/company-information/documents-and-archives/options-disclosure-document.
An investor is solely responsible for making an independent appraisal and investigation into any financial product or strategy. No strategy can guarantee profits or the avoidance of losses. Past performance is no guarantee of future results. There is no guarantee that an investor’s objectives will be realized. The purchase and sale of financial instruments, including derivative securities, involves risk and could result in losses.
