AXIOM Disclaimers and Risk Disclosure

1. Informational and Analytical Use Only

AXIOM provides market-data analytics, quantitative models, visualizations, historical review tools, and related information for informational and analytical purposes only.

Nothing displayed, calculated, labeled, highlighted, communicated, or otherwise provided through AXIOM constitutes investment, financial, trading, legal, or tax advice.

Nothing on AXIOM is a recommendation, solicitation, or instruction to buy, sell, hold, enter, exit, or otherwise transact in any security, option, derivative, or other financial instrument.

2. No Broker-Dealer, Investment Adviser, or Fiduciary Relationship

MNA Research is not acting through AXIOM as a registered broker-dealer, investment adviser, commodity trading advisor, futures commission merchant, execution venue, portfolio manager, financial planner, or fiduciary.

Using AXIOM does not create an advisory, fiduciary, agency, brokerage, or portfolio-management relationship between you and MNA Research.

AXIOM does not know your complete financial circumstances, objectives, tax situation, investment horizon, or risk tolerance.

3. Analytical Terminology Is Descriptive, Not a Recommendation

AXIOM may use terms such as:

• bullish;
• bearish;
• support;
• resistance;
• wall;
• flip;
• magnet;
• pin;
• pressure;
• squeeze;
• reversal;
• trigger;
• signal;
• alert;
• setup;
• target;
• regime;
• level; or
• zone.

These terms describe quantitative or model-derived conditions only.

They do not constitute a recommendation to trade and do not mean that MNA Research believes a particular transaction is appropriate for you.

4. Options and 0DTE Risk

Options trading involves substantial risk and is not suitable for every investor.

You can lose part or all of the capital committed to an options transaction, and certain strategies can result in losses greater than the amount initially invested.

Short-dated and zero-days-to-expiration ("0DTE") options may be especially sensitive to small changes in price, volatility, liquidity, spreads, and time.

Greeks and other risk characteristics can change rapidly, and a position can gain or lose substantial value within a very short period.

Before trading standardized options, review the Options Clearing Corporation's current Characteristics and Risks of Standardized Options disclosure and consult qualified professionals regarding your own circumstances.

5. Licensed Market Data

AXIOM receives market data under commercial arrangements with one or more licensed market-data providers.

The Service may display market data relating to options, equities, indices, quotes, trades, open interest, or related information depending on the current data configuration.

Third-party market data remains subject to the rights of the applicable exchanges, data originators, vendors, and licensors.

AXIOM uses licensed market data as input for proprietary calculations and analytical outputs.

6. Axiom Analytics Are Derived, Not Exchange-Reported Conclusions

AXIOM calculates or generates analytical outputs from licensed market data using proprietary calculations, models, assumptions, filters, classifications, weighting systems, and other methodologies.

A value is not an exchange-reported fact merely because the underlying input data originated with an exchange or licensed vendor.

This applies to gamma, charm, vanna, delta, dealer exposure, zero-gamma, support/resistance, pressure, flow, positioning, regime, and other model-based analytics.

Different platforms can produce different results from the same or similar underlying data.

7. Model and Methodology Risk

All quantitative models simplify reality.

AXIOM analytics may depend on assumptions involving:

• pricing models;
• implied volatility;
• time to expiration;
• interest rates;
• contract filtering;
• open interest;
• position sign conventions;
• dealer/customer assumptions;
• aggregation;
• normalization;
• weighting;
• expiration selection;
• strike selection;
• trade classification; and
• other proprietary methodological choices.

Changing one or more assumptions may materially change an output.

No model can fully capture all market participants, hidden liquidity, off-screen activity, future orders, private inventory, subjective intent, execution constraints, or future market events.

8. Estimated and Inferred Flow or Positioning

Certain AXIOM outputs, including estimated aggressor-side flow, accumulation, participant positioning, dealer exposure, hedging pressure, or similar classifications, are estimates or inferences.

The market data available to AXIOM does not necessarily identify the beneficial owner, actual inventory, hedge requirement, subjective intent, or final position of a specific participant.

Accordingly, inferred analytics may be incorrect.

Do not treat inferred positioning or flow as a confirmed record of any dealer's, market maker's, institution's, or trader's actual position or intent.

9. Model-Generated Levels and Zones Are Not Price Guarantees

AXIOM may display model-generated:

• gamma walls;
• zero-gamma or flip levels;
• dealer-neutral levels;
• charm or vanna levels;
• volatility levels;
• support or resistance classifications;
• pressure zones;
• pin areas;
• magnets;
• targets;
• clusters;
• trigger levels; or
• similar analytical levels.

These are model-generated analytical outputs only.

They are not guarantees, promises, or representations that:

• price will reach a level;
• price will stop at a level;
• price will reverse from a level;
• price will accelerate after crossing a level;
• a level will act as support or resistance;
• market participants will hedge in a particular manner; or
• a trade based on a level will be profitable.

A level may move, disappear, change significance, be crossed without reaction, or fail to correspond with subsequent market behavior.

10. Historical Data, Scrubber, Replay, and Past Patterns

AXIOM may provide a scrubber, historical chart, replay, archive, or other functionality that shows prior market data, model states, levels, signals, labels, analytics, or historical conditions.

Historical information is provided for research and review only.

Past model behavior and historical market reactions do not predict or guarantee future results.

Historical displays may also be affected by:

• corrected vendor data;
• backfilled records;
• revised open interest;
• revised timestamps;
• methodology changes;
• changes in contract filtering;
• changes in calculation logic; or
• other later adjustments.

A historical model state may therefore differ from what a user would have seen live at the original moment.

Unless expressly stated otherwise, AXIOM historical-review functionality does not represent audited investment performance, live trading performance, or a verified track record.

11. No Guarantee of Accuracy, Completeness, or Timeliness

MNA Research does not guarantee the accuracy, completeness, timeliness, synchronization, reliability, or availability of market data or Axiom analytics.

Information may be wrong even when the underlying systems appear to be functioning normally.

Data and analytics may be corrected or revised after display.

Users should independently verify information before relying on it.

12. Stale, Frozen, Delayed, or Erroneous Values

Market data, analytics, charts, levels, timestamps, or other values displayed through AXIOM may become:

• stale;
• frozen;
• delayed;
• incomplete;
• missing;
• duplicated;
• out of sequence;
• incorrectly timestamped;
• temporarily unavailable;
• disconnected from the underlying feed; or
• otherwise erroneous.

A value may remain visible on the screen even though the source feed, connection, calculation engine, or update process has stopped.

A chart or number that appears to be moving does not guarantee that all related values are current or synchronized.

This risk may be more pronounced during:

• overnight or extended-hours sessions;
• pre-market or after-hours periods;
• holidays;
• exchange transitions;
• low-liquidity periods;
• vendor maintenance;
• system maintenance; or
• network disruptions.

Do not assume that a displayed value is current merely because it remains visible.

13. Not an Execution or Primary Quote Source

AXIOM is not a broker, exchange, order-entry platform, or execution system.

Prices shown through AXIOM are provided by licensed market-data sources and displayed as available.

Before placing any transaction, you should verify the current executable price, bid/ask spread, market status, liquidity, and order conditions through your broker or another appropriate exchange-authorized source.

AXIOM should not be used as your sole or primary source for executable prices.

14. Service Availability and Third-Party Dependencies

AXIOM depends on third-party systems including market-data providers, exchanges, internet connectivity, cloud infrastructure, authentication systems, payment services, software services, and other infrastructure.

Any of these systems may experience outages, errors, maintenance, latency, data loss, or degraded service.

MNA Research does not guarantee uninterrupted access or any particular service level.

15. Market Conditions Change Rapidly

Market conditions can change between the time information is calculated, displayed, viewed, and acted upon.

An AXIOM output that accurately reflected one moment may be outdated seconds later.

No display, alert, level, score, classification, or model state should be treated as continuously valid.

16. Third-Party Content

Where AXIOM displays, references, or incorporates third-party market data or other licensed content, ownership and responsibility for the source content remain subject to the applicable third-party rights.

MNA Research may transform, calculate, aggregate, or visualize that information but does not control every aspect of how source data is originally generated.

17. No Guarantee of Results

MNA Research does not guarantee:

• profits;
• loss avoidance;
• investment performance;
• trading performance;
• successful execution;
• accuracy of a model;
• usefulness of a level;
• a specific market reaction; or
• any particular financial outcome.

Any trading decision you make remains entirely your responsibility.

18. Your Responsibility

You are solely responsible for:

• determining whether options or other financial products are appropriate for you;
• independently reviewing and verifying information;
• choosing your broker and execution method;
• managing position size and risk;
• complying with applicable law and broker requirements; and
• all investment and trading decisions.

Please review the AXIOM Terms of Service for the complete contractual disclaimer of warranties, limits on liability, data-use restrictions, and other terms governing the Service.