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The information contained herein was obtained from various sources we believe to be reliable. However, we do not guarantee its accuracy. Additional information available. Neither the information nor any opinion expressed constitutes an offer to buy or sell any securities or derivatives, including options and futures contracts. Derivatives, including futures and options, are not appropriate for all investors and all strategies are not appropriate at all times. Before investing in derivatives, including futures and options, clients must receive the appropriate risk disclosure documents. Cost of strategies explained in this WebSite do not include commission or margin expenses, unless stated otherwise. Foreign-currency-denominated securities and derivatives are subject to fluctuations in exchange rates that could have a positive or adverse effect on an investor's return upon the conversion into local currency of dividends or interest received, or proceeds from the liquidation of such securities or derivatives. In addition, investors in securities such as ADRs, whose values are influenced by foreign currencies, effectively assume currency risk.

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