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TRADING FUTURES AND OPTIONS INVOLVES SUBSTANTIAL RISK OF LOSS AND IS NOT SUITABLE FOR ALL INVESTORS. THERE ARE NO GUARANTEES OF PROFIT NO MATTER WHO IS MANAGING YOUR MONEY. PAST PERFORMANCE IS NOT NECESSARILY INDICATIVE OF FUTURE RESULTS. SELLING OPTIONS INVOLVES UNLIMITED RISK OF LOSS. FUNDAMENTAL FACTORS, SEASONAL AND WEATHER TRENDS, AND CURRENT EVENTS MAY HAVE ALREADY BEEN FACTORED INTO THE MARKETS. STRATEGIES USING COMBINATIONS OF POSITIONS, SUCH AS "SPREAD" AND "STRADDLE" POSITIONS, MAY BE AS RISKY AS TAKING SIMPLE "LONG" OR "SHORT" POSITIONS.

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