Risk Disclosure Statement

Last updated: June 2026

Summit Trading Group | Effective Date: June 26, 2026

PLEASE READ THIS RISK DISCLOSURE STATEMENT CAREFULLY BEFORE PURCHASING OR ACCESSING ANY SUBSCRIPTION, CONTENT, OR SERVICE OFFERED BY SUMMIT TRADING GROUP. BY PROCEEDING, YOU ACKNOWLEDGE THAT YOU HAVE READ, UNDERSTOOD, AND AGREED TO THE RISKS DESCRIBED BELOW.

1. EDUCATIONAL PURPOSES ONLY

All content, courses, training materials, live sessions, videos, and communications provided by Summit Trading Group are strictly for educational and informational purposes. Nothing provided by Summit Trading Group constitutes investment advice, financial advice, a recommendation to buy or sell any security or options contract, or a solicitation to trade. Summit Trading Group is not a registered investment adviser, broker-dealer, or financial planner, and does not hold any such licenses.

You should consult a licensed financial professional before making any investment or trading decisions. Any trading decisions you make are solely your own responsibility.

Any watchlists, trade ideas, or setups published by Summit Trading Group identify securities for educational observation and to illustrate the criteria in our trading playbook. They are not buy or sell signals, alerts, or individualized investment recommendations, and they are not tailored to your personal financial situation, objectives, or risk tolerance.

Summit Trading Group and its owners, principals, and representatives may hold, acquire, or dispose of positions in the securities or options mentioned in any watchlist, report, or communication, and may do so before, during, or after that information is published.

2. GENERAL TRADING RISKS

Trading in financial markets involves substantial risk of loss and is not suitable for all investors. You should carefully consider the following before engaging in any trading activity:

•  You may lose some or all of the capital you invest or deposit

•  Past performance of any trading strategy, educator, or example trade is not indicative of future results

•  Markets can move rapidly and unpredictably, and no strategy guarantees consistent profits

•  Emotional and psychological factors significantly affect trading performance and are difficult to replicate from an educational setting to live trading

•  Paper trading (simulated) results often differ materially from live trading results due to slippage, execution speed, and psychological pressure

•  You should only trade with capital you can afford to lose entirely

3. STOCK AND EQUITY TRADING RISKS

Trading individual stocks and equity securities carries specific risks including but not limited to:

Market Risk: The value of stocks can decline due to broad market conditions, economic downturns, geopolitical events, or changes in investor sentiment, regardless of a company's individual performance.

Company-Specific Risk: Individual stocks can lose significant value due to earnings misses, management changes, regulatory actions, litigation, fraud, or bankruptcy.

Liquidity Risk: Some stocks, particularly small- or micro-cap equities, may have limited trading volume, making it difficult to enter or exit positions at desired prices.

Volatility Risk: Stocks can experience extreme price swings, particularly around earnings announcements, economic data releases, or news events. Strategies that work in low-volatility environments may fail in high-volatility conditions.

Concentration Risk: Focusing on a small number of stocks increases exposure to company- or sector-specific events.

4. OPTIONS TRADING RISKS

Options trading involves a higher degree of complexity and risk than stock trading and may not be appropriate for all investors. Specific risks include:

Total Loss of Premium: Options are a wasting asset. If an option expires out of the money, the entire premium paid is lost. This can happen even if the underlying stock moves in the anticipated direction, but not far enough or not fast enough.

Time Decay (Theta): The value of an options contract erodes over time as expiration approaches. Time decay accelerates in the final weeks before expiration and works against buyers of options.

Leverage Risk: Options provide leverage, which amplifies both gains and losses. A small move in the underlying stock can result in a large percentage gain or loss in the options position.

Implied Volatility Risk: Changes in implied volatility affect options pricing independently of the movement of the underlying stock. A position can lose value even if the stock moves in the expected direction if implied volatility contracts.

Assignment Risk: Sellers of options (short options) face the risk of early assignment, which may result in an obligation to buy or sell shares at unfavorable prices.

Complexity Risk: Multi-leg options strategies (spreads, straddles, iron condors, etc.) involve multiple moving parts and can result in losses that exceed initial expectations if not managed correctly.

Options are not suitable for investors who do not fully understand the risks involved. Summit Trading Group strongly encourages all members to paper trade and thoroughly study options mechanics before committing real capital.

5. NO GUARANTEE OF RESULTS

SUMMIT TRADING GROUP MAKES NO REPRESENTATION THAT ANY MEMBER WILL OR IS LIKELY TO ACHIEVE RESULTS SIMILAR TO THOSE DISCUSSED IN OUR CONTENT OR MATERIALS. INDIVIDUAL RESULTS WILL VARY BASED ON MARKET CONDITIONS, CAPITAL, TIME COMMITTED, EXPERIENCE LEVEL, DISCIPLINE, AND MANY OTHER FACTORS BEYOND OUR CONTROL.

Any examples of trades, performance, or outcomes shown in our materials are provided for illustrative and educational purposes only. They do not represent live trading results of Summit Trading Group or its instructors in all cases, and should not be interpreted as typical, average, or expected results.

6. PAPER TRADING VS. LIVE TRADING

Many of the strategies and concepts taught by Summit Trading Group may be demonstrated using paper trading (simulated) accounts. Simulated trading does not involve real financial risk and results achieved in a paper trading environment may not reflect results achievable in live markets due to differences in execution speed, order fills, slippage, market impact, and the psychological pressure of trading real capital.

Summit Trading Group strongly recommends that all members practice extensively in a paper trading environment before committing live capital to any strategy.

7. PSYCHOLOGICAL AND BEHAVIORAL RISKS

Trading psychology is one of the most significant factors affecting trading performance. Risks include:

•  Overconfidence following a period of successful trades

•  Revenge trading after losses, leading to outsized risk-taking

•  Fear and hesitation causing missed entries or premature exits

•  Inability to follow a defined trading plan under real market pressure

•  Overtrading due to boredom, excitement, or addiction-like behavior

Summit Trading Group's educational content addresses these psychological factors, but understanding them in theory and managing them in live trading are different challenges. You are solely responsible for your own trading behavior and discipline.

8. SUITABILITY

Trading in stocks and options may not be suitable for you. You should not engage in trading if:

•  You cannot afford to lose your entire investment

•  You are relying on trading income to meet essential living expenses

•  You have little or no experience with financial markets

•  You are not prepared to dedicate significant time to learning and practicing

•  You have a low tolerance for financial loss or significant stress

Summit Trading Group does not assess your individual financial situation or suitability for trading. It is your responsibility to honestly evaluate whether trading is appropriate for you given your personal circumstances.

9. REGULATORY NOTICE

Options trading is subject to regulation by the Financial Industry Regulatory Authority (FINRA) and the Options Clearing Corporation (OCC). Before trading options, you are required by your brokerage firm to read and acknowledge the OCC's Characteristics and Risks of Standardized Options disclosure document, commonly known as the "Options Disclosure Document" (ODD). This document is available at theocc.com. Summit Trading Group is not affiliated with FINRA, the OCC, or any regulatory body.

10. CONTACT

If you have questions about this Risk Disclosure Statement, please contact us at support@summitTG.co.

CHECKOUT ACKNOWLEDGMENT

(Short-form, for use at point of purchase)

The following text is intended for use as a checkbox acknowledgment at the point of purchase on your website or checkout page. The customer must check the box before completing the transaction.

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☐  I have read and understand the Risk Disclosure Statement and Terms of Use for Summit Trading Group. I acknowledge that trading stocks and options involves substantial risk of loss, that all content is for educational purposes only and does not constitute investment advice, and that Summit Trading Group makes no guarantee of any specific trading result. I understand that I may lose some or all of any capital I invest in the markets, and I accept full responsibility for my own trading decisions. I confirm that I am 18 years of age or older and that I am purchasing this subscription for educational purposes.

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Tip for your developer: log a timestamp and IP address when this box is checked and store it alongside the transaction record. If a chargeback or dispute ever arises, that timestamped acknowledgment is your first line of defense.