> For the complete documentation index, see [llms.txt](https://docs.callput.app/llms.txt). Markdown versions of documentation pages are available by appending `.md` to page URLs; this page is available as [Markdown](https://docs.callput.app/disclaimer.md).

# Disclaimer

## Risk disclaimer

Callput provides synthetic reference exposure through request-based onchain options. It does not provide shares, ETFs, securities accounts, tokenized stocks, issuer rights, or physical delivery. Market availability is feed-driven and jurisdiction-dependent. Nothing in Callput is investment, legal, tax, or trading advice.

Trading Callput options involves significant market, liquidity, pricing, technology, and regulatory risks. Please ensure that you fully understand the following risks before using Callput.

Market Risk

Option prices can move rapidly and may be affected by changes in the referenced underlying asset, implied volatility, interest rates, liquidity, market structure, and broader market conditions. You may lose the entire premium or amount committed to a transaction.

Gap Risk

Events such as earnings releases, macroeconomic announcements, regulatory updates, index rebalances, exchange halts, or major news may cause significant price gaps in the referenced underlying. These gaps may affect option pricing, execution, spreads, and settlement values.

Liquidity Risk

During underlying market closures, weekends, holidays, overnight sessions, data delays, trading halts, or abnormal volatility, contract liquidity may be reduced. Bid-ask spreads may widen, requests may be delayed or cancelled, and execution may become unavailable.

Leverage Risk

Options can create high effective leverage. Small moves in the referenced underlying or implied volatility may cause large changes in option value. You may lose the full amount paid for an option or the full amount committed to a defined-risk strategy.

Pricing and Reference Data Risk

Callput derives pricing from real trading-market indicators and uses those inputs to calculate its own futures index, volatility curve, mark price, execution price, and settlement values. These protocol-defined values may differ from prices shown on exchanges, brokers, options venues, or data vendors.

Oracle and Data Risk

Callput may rely on market data, keepers, oracles, third-party infrastructure, and protocol-defined calculations. Data interruptions, stale data, incorrect data, delayed data, or abnormal market conditions may affect pricing, execution, cancellation, and settlement.

Smart Contract and Blockchain Risk

Callput is an onchain protocol. Smart contracts, blockchain networks, wallets, RPC providers, bridges, keepers, and other infrastructure may contain bugs, fail, be exploited, become unavailable, or behave unexpectedly. Blockchain transactions are generally irreversible.

Regulatory Risk

Users in certain jurisdictions may be restricted from accessing or using Callput due to legal or regulatory requirements. You are responsible for determining whether your use of Callput is lawful in your jurisdiction and for complying with all applicable laws, taxes, and reporting obligations.

No Asset Ownership Disclaimer

Trading Callput stock and ETF options does not constitute ownership of any underlying stocks, equities, securities, ETFs, commodities, tokenized assets, or issuer interests.

Users holding or settling these options do not own the referenced underlying assets and are not entitled to dividends, interest, distributions, voting rights, shareholder privileges, governance rights, subscription rights, preferential purchase rights, conversion rights, redemption rights, or corporate action rights.

Unless explicitly reflected by Callput through pricing, settlement, or contract adjustments, users will not benefit from corporate actions relating to any referenced underlying.

Affiliation Disclaimer

Callput stock and ETF options are not associated with, sponsored by, endorsed by, or affiliated with the issuer of any referenced underlying asset, the exchange on which the referenced underlying is listed, or any related index provider, data vendor, broker, or trading venue.

No Financial Advice

Callput does not provide investment, financial, legal, tax, trading, or other professional advice. All information is provided for general informational purposes only. You are solely responsible for evaluating risks and making your own trading decisions.