The pricing, risk analysis, profit and loss, and other trading calculators and trading strategy tools and simulators available on this platform (collectively "Tools") are for informational and educational purposes only and should not be used or construed as investment advice, financial guidance, or an offer, solicitation, or recommendation to buy, sell, or hold any security, commodities future, futures option, other investment or to open a particular account.

The Tools are not designed to yield variable results specific to your individual financial situation, risk tolerance, or investment goals, and none of the Tools should be relied upon, in any way, to determine whether any investment or particular account would be appropriate for you. Before buying or selling any security or other instrument, you should carefully consider your individual financial situation, investment objectives, risk tolerance, and liquidity needs, and consult your broker, financial advisor, and/or licensed tax professional to determine for yourself whether such investment and/or investment account is suitable for you.

To the extent that you use any of the Tools to analyze potential options or futures transactions, please be advised that options and futures transactions carry a high degree of risk and are not appropriate for all investors. Please read Characteristics and Risks of Standardized Options, Risk Disclosure Statement for Futures and Options, and Disclosure Documents and Other Financial Information before investing in any options, futures, or futures options positions on or through any E*TRADE trading platform. Please also read the Special Statement for Uncovered Options Writers regarding the special risks associated with uncovered options before entering any short uncovered options positions as uncovered options writing may expose you to potentially significant loss.

The Tools perform calculations based on model assumptions and other inputs and variables that you select, which may not be indicative of actual market conditions and do not take into account additional expenses and transaction costs such as applicable commissions, taxes, fees, and interest, which may affect the profitability of a trade and the value of your investments. Results may vary with each use and over time and do not reflect actual investment results and are not guarantees of future results. Additional information regarding the functionalities, inputs, and calculation methodologies of the Tools is provided on the various E*TRADE platforms.

By using any of the Tools, you acknowledge that you have read and understand this Tools Disclosure and agree to the terms of use provided herein.