Terms of Service

YieldTerminal is an educational and analytical tool for options income strategies (covered calls, cash-secured puts, and related approaches). It calculates estimated strikes, premiums, and probabilities using public market data and option-pricing models. It does not execute trades, does not hold funds or securities, and is not a broker-dealer, investment adviser, or exchange.

YieldTerminal does not recommend, endorse, or advise that you buy, sell, hold, or otherwise transact in any security or options contract. Nothing generated by the app — including strategy examples, strikes, expiries, market scan examples, scores, or backtests — is a recommendation, solicitation, or offer. It is a general, algorithmically-generated illustration based on public market data, produced without any knowledge of your financial situation, objectives, income, net worth, or risk tolerance.

We are not your broker, advisor, or fiduciary, and no advisor-client or fiduciary relationship is created by using the app. Any decision to act on information shown in the app — including which strategy to use, how much capital to commit, and which trade to place — is made entirely at your own discretion. You are solely responsible for your own trading decisions and their outcomes. Consult a licensed, independent financial advisor before making investment decisions.

Options trading carries real financial risk, including the potential loss of the entire amount committed to a position and, for certain uncovered or margin strategies, losses exceeding your initial investment. By using YieldTerminal you acknowledge and accept that risk as your own. Estimated premiums, probabilities, and backtested results shown in the app are illustrative only, will differ from actual market conditions, and are not a guarantee or prediction of any specific outcome.

Option premiums, deltas, and probabilities shown in the app are calculated using the Black-Scholes model and historical/implied volatility estimates — they are not real-time quotes from an options exchange and will differ from what your broker actually shows. Always verify current bid/ask prices in your broker before placing any trade.

Backtests and historical examples shown in the app reflect past market data and do not guarantee future performance. Options trading involves substantial risk, including the risk of loss greater than your initial investment (for certain strategies) and the risk of assignment. Past performance is not indicative of future results.

Pro is a recurring subscription billed through Stripe. Manage or cancel your subscription from your account settings.

YieldTerminal, its operators, and its data providers are not liable for any trading losses, missed opportunities, or damages arising from use of the app or reliance on its estimates. The app is provided "as is" without warranty of any kind.