Risk Disclosure

• Options can lose value very fast. A bought option can fall to zero, especially close to expiry.
• Option selling has large, open-ended risk. Strategies that sell options (for example, short strangles) collect a small premium but can lose many times that amount on a sharp move. Several stop-losses in one day, each followed by a re-entry, can multiply the loss.
• Leverage: F&O positions are much larger than the margin you put up, so small moves in the index cause large gains or losses.
• Gaps and fast markets: prices can jump past a stop-loss, for example overnight, on news or at the open. The exit can then be far worse than the stop level.
• Liquidity and slippage: the price you get can differ from the price at which a signal was generated, particularly for far strikes, on expiry days and during volatile periods.
• Expiry-day risk: option prices and margins can change sharply on expiry days.

• Every strategy follows fixed rules. Rules that worked in some market conditions can fail in others, and a strategy can have long losing streaks.
• Any past, back-tested, simulated or "paper" result is not a promise of future results. Such results usually ignore brokerage, taxes, slippage and rejected orders, and real results are often worse.
• Several strategies may trade the same index at the same time, so their losses can add up on the same move.
• We may change, pause or withdraw a strategy, which can affect positions that are open at the time.

• Outages: the Platform, Rupeezy, the exchanges, market-data providers or the internet can fail or slow down. Orders, including stop-loss exits and square-offs, may then be delayed or not placed.
• Data errors: a wrong or late price can trigger an order too early, too late or not at all. We use a backup data source, but this cannot remove the risk.
• Delays at busy moments: when many orders go out at the same time (for example at 9:30 AM or at square-off), later orders can take a few seconds longer.
• Rejections and partial fills: Rupeezy or the exchange can reject or partly fill an order because of margin, price bands, freeze-quantity limits or risk checks.
• You must monitor: always check your positions in the Rupeezy app, and close them yourself if the Platform cannot.

• If you do not have enough margin, Rupeezy will reject orders. In a two-leg strategy, one leg can be opened while the other is rejected, leaving you with an unhedged position and higher risk.
• Exchanges and brokers can raise margin requirements at any time, including during the day. Shortfalls can lead to penalties or to your broker closing positions.
• Option selling needs much more margin than option buying. Check each strategy's requirement before deploying.

Brokerage, exchange charges, STT, stamp duty, SEBI fees and GST apply to every trade and reduce your returns. Strategies that trade several times a day can build up significant costs, even on days that break even before costs.

SEBI and the exchanges regularly change rules for F&O and algorithmic trading, such as lot sizes, expiry days, margins, taxes and how API orders are approved. These changes can affect how strategies work, or require us to change or stop them.

PIIP does not assess whether a strategy suits you. Before trading, consider your finances, experience and risk tolerance, and consult a SEBI-registered investment adviser if you are unsure.

By deploying a strategy you confirm that you have read and understood this Risk Disclosure, that you are trading at your own risk, and that you accept the Terms of Service.