Educational & Investment Disclaimer

Courses, lessons, examples, worksheets, assessments, charts, commentary, demonstrations, and other materials are designed to teach concepts. They are not individualized recommendations and should not be treated as a substitute for advice from qualified professionals who understand your circumstances.

Use of CASE University does not create an investment-adviser, financial-adviser, broker-dealer, fiduciary, attorney-client, accountant-client, or tax-adviser relationship.

• Investments can lose value, including loss of principal.
• Past performance does not guarantee future results.
• Market conditions can change rapidly and historical examples may not reflect current conditions.
• Short-term trading can involve substantial volatility, costs, taxes, and execution risk.
• Margin can magnify both gains and losses and may result in forced liquidation or losses exceeding the amount initially committed in some circumstances.

Options involve significant risk and are not appropriate for every investor. Depending on the strategy, an option can expire worthless, lose its premium, create assignment obligations, or expose a trader to substantial or theoretically unlimited loss. Educational examples involving calls, puts, spreads, LEAPS, scalps, swings, or other strategies do not mean those strategies are appropriate for you.

Hypothetical trades, simulated results, sample portfolios, historical charts, or classroom scenarios may omit real-world factors such as liquidity, slippage, commissions, taxes, assignment, changing implied volatility, execution delays, and behavioral decisions. Hypothetical performance has inherent limitations and is not a promise of actual results.

References to particular companies, ETFs, indexes, securities, or financial products are educational examples unless expressly stated otherwise. Their inclusion does not constitute endorsement, solicitation, sponsorship, or a recommendation.

Markets, laws, tax rules, financial data, product features, brokerage requirements, and regulations change. Educational material may become outdated. You are responsible for verifying current information before making decisions.

A CASE University certificate documents completion of platform requirements only. It is not a professional license, regulatory approval, securities credential, investment-adviser designation, or guarantee of competence or investment success.

Consider your objectives, financial circumstances, time horizon, risk tolerance, tax situation, and applicable rules before investing or trading. When appropriate, consult qualified financial, investment, legal, accounting, or tax professionals.