Risk Disclosure & Limitation of Liability

1. We are not registered in any advisory capacity

ACondor LLC is not a registered investment adviser, broker-dealer, commodity trading advisor, commodity pool operator, futures commission merchant, or financial planner, and is not registered with the SEC, FINRA, the CFTC, the NFA, or any state securities regulator.

We do not manage client capital, do not take custody of funds or securities, do not trade any account on your behalf at our discretion, and do not recommend specific trades to specific people. Everything ACondor and this site produce is impersonal, of general circulation, and intended for informational, educational, and analytical purposes only.

Nothing here is investment, legal, accounting, or tax advice, or a recommendation to buy or sell any security. We do not know your financial situation, holdings, risk tolerance, time horizon, or objectives, and nothing we provide is tailored to them. Consult a qualified professional who does know your circumstances before acting.

2. Options risk

Selling options premium carries risks that differ from buying stock, and several of them are asymmetric. In particular:

• Undefined risk. Some structures ACondor supports in margin accounts have theoretically unlimited loss. A single adverse move can exceed many months of accumulated premium.
• Assignment and early exercise. Short options can be assigned at any time before expiration, including on dividend dates and after hours, leaving you with stock positions, margin obligations, or borrowing costs you did not plan for.
• Gaps and halts. Markets can move violently between sessions or halt entirely. Stop levels and management rules cannot execute in a market that is not trading, and defined-risk maximum loss can be realized instantly.
• Liquidity. Wide spreads and thin books can make it expensive or impossible to close a position at a reasonable price, especially during stress, which is exactly when you most want out.
• Margin and leverage. Margin requirements can increase without notice. Your broker can issue a margin call and liquidate positions at a loss, at its discretion, without consulting you.
• Correlation. Positions that appear diversified often move together in a selloff. Simultaneous losses across many positions are a normal feature of premium selling, not an anomaly.

Before trading options, read Characteristics and Risks of Standardized Options, the standardized options disclosure document published by the Options Clearing Corporation. Your broker is required to provide it. It describes these risks in far more detail than this page.

3. Automated trading risk

Automation removes emotion from execution. It does not remove risk, and it introduces failure modes that manual trading does not have:

• Software defects, logic errors, and untested edge cases.
• Server downtime, deployment issues, crashes, and restarts mid-position.
• Network loss, latency, and broker API outages, rate limits, or rejections.
• Duplicate orders, missed orders, partial fills, and orders placed on stale or bad market data.
• Misconfiguration, including settings you changed without understanding their effect.
• Failures at third parties we do not control, including your broker and our data providers.

The bot can act at the wrong time, or fail to act when it should have. It runs only while you have it started, and it cannot manage positions while it is stopped. You are responsible for monitoring your account and for independently verifying order status, fills, and positions directly with your broker. Do not assume the dashboard is a complete or current picture of your account.

4. Hypothetical and backtested performance

Any performance figures shown on this site or in the software that are not the audited results of a real funded account are hypothetical, simulated, or backtested. Hypothetical results have inherent limitations, and you should assume the following about every one of them:

• They do not represent actual trading and no real money was at risk.
• They are prepared with the benefit of hindsight, using rules chosen after the period being tested was already known.
• They may under-compensate or over-compensate for real market factors, particularly liquidity, slippage, spread, commissions, fees, and the market impact of the orders themselves.
• They cannot reproduce the effect of financial risk on actual decision making, including the temptation to intervene, override, or stop the system during a drawdown.

Past performance, whether real, simulated, or backtested, does not guarantee or indicate future results. No representation is being made that any account will or is likely to achieve profits or losses similar to any figure shown anywhere on this site, in the software, or in any communication from us.

5. Testimonials and results shared by others

Any testimonial, review, or result shared by a user reflects that person's individual experience and is not representative of what other users experience or of what you should expect. Individual results vary with account size, settings, timing, market conditions, and judgment. Testimonials are not a guarantee of performance and should not be relied on as an indication of future results. Where a person providing a testimonial received anything of value in exchange, we will disclose it alongside the testimonial.

6. You are solely responsible for your trading

ACondor executes rules you configure and enable. You retain sole discretion over, and full responsibility for, every trading and automation decision you make, including which strategies to enable, what risk parameters to set, which accounts to connect, and when to run or stop the bot. Every trade placed in your account is your trade.

The defaults shipped with the software are starting points chosen for a general audience. They are not a recommendation for your account and they are not calibrated to your capital or your risk tolerance.

7. What our support will not do

We help with installation, configuration, and defects. We will not give trade advice, tell you whether to enter or exit a position, tell you what settings suit your financial situation, provide tax guidance, or predict market direction. Those are personalized advice we are not registered to give, and any staff member who offered them would be speaking outside their authority.

We will never ask for your brokerage password or a two-factor authentication code. See our Security page for how we handle credentials.

8. Your broker relationship is independent

Your brokerage account, its terms, its margin policies, and its regulatory protections are between you and your broker, not between you and ACondor. ACondor accesses your account only through API credentials you provide, control, and can revoke at any time. ACondor is not affiliated with, endorsed by, or sponsored by tastytrade.

9. No warranty and no liability for losses

The software is provided “as is” and “as available,” without warranties of any kind, express or implied.

To the maximum extent permitted by law, ACondor LLC and its owner, officers, and agents disclaim all liability for any trading losses, missed trades, erroneous or duplicate trades, assignment costs, margin calls, tax consequences, or account damage arising from use of the software, whether caused by defects, downtime, misconfiguration, market conditions, broker errors, third-party failures, or any other cause. Limits on our liability are set out in section 12 of our Terms of Service.