Important risk disclosure

Options can lose money quickly.

Black Sigma provides general education and market research. Nothing on this site is investment, tax, legal, or personalized financial advice.

Options involve risk and are not suitable for every investor. A long option can lose the entire premium. Some short-option structures can lose much more, create assignment obligations, or require additional capital.

Market and data risk

  • Prices, news, scores, and alerts can be delayed, incomplete, unavailable, or wrong.
  • The current scanner uses daily underlying bars, not real-time intraday options data.
  • A high score is not a probability, recommendation, or guarantee.
  • Past observations and paper results do not show what a real account would have earned.

Options-specific risk

  • Time decay can reduce value even when the stock moves in the expected direction.
  • Implied volatility can fall and reduce option value.
  • Wide spreads, low volume, slippage, fees, exercise, and assignment can change outcomes.
  • Expiration can create exercise, assignment, cash, or stock obligations.

Small-account and fast-stock risk

A $100 account is not made safe by being willing to lose it. One contract can consume the account. Lower-priced fast movers can halt, gap, reverse, or become hard to exit.

Last updated August 16, 2026. Have qualified counsel review this disclosure before public launch.