Terms of Service

1. What OptionSpace is and is not

OptionSpace provides analytical data and tools for options traders, in two categories:

• “Derived Data”: model-derived analytical outputs, such as volatility surfaces and related metrics, computed by proprietary OptionSpace models from third-party market data; and
• “Market Data”: exchange-originated market data (such as quotes, prices, and related records) included in your plan. Some Market Data may require additional exchange-required terms and attestations (Section 8).

What each plan includes (for example, which data, how frequent and how timely it is, how much history, and usage limits) is described on our website and in your Plan Details, and may change as Section 9 describes. These Terms apply to the Service in whatever form we provide it.

OptionSpace is not a broker, exchange, adviser, or trading platform. The Service is for informational and research purposes only. It is not investment, legal, tax, or accounting advice, is not a recommendation or solicitation to buy, sell, or hold any security or other instrument, and does not establish any advisory or fiduciary relationship. You make your own trading and investment decisions at your own risk. See Section 10 for the full disclaimer.

2. Eligibility

You must be at least 18 years old and able to form a binding contract to use the Service. Paid self-serve plans are available only to individuals, for Personal Use (Section 4), located in the United States (Section 6.15).

3. Your account

Account creation and authentication are handled through our third-party identity provider (currently Clerk). You are responsible for the accuracy of your account information, for keeping your credentials confidential, and for all activity under your account. Notify us promptly at [email protected] of any unauthorized use. We may suspend or terminate accounts as described in Section 14.

4. The Service and license to use it

Subject to these Terms and (for paid features) your payment of applicable fees, we grant you a limited, non-exclusive, non-transferable, non-sublicensable, revocable license to access and use the Service, and to use the data and outputs we make available to you (the “Data,” comprising Derived Data and Market Data as described in Section 1), solely for Personal Use, or, on the free tier, for evaluation as described below. All rights not expressly granted are reserved.

Personal Use means use by one individual solely to research and make decisions about investing that individual’s own money, including money in the individual’s own retirement account, a trust for the individual’s own benefit, or a company the individual wholly owns that invests only the individual’s own money. Personal Use does not include:

• (a) use for or on behalf of an employer, a client, a fund, a partnership or any other person, or in managing or advising on anyone else’s money;
• (b) any use by an individual who is registered or qualified as an investment adviser, broker-dealer, commodity trading advisor or similar professional with any securities or commodities regulator, exchange or self-regulatory organization; or
• (c) use in or for any product, service or business, other than investing your own money as described above.

Commercial use. Any use that is not Personal Use is “Commercial Use” and is permitted only under a separate signed Commercial License Agreement with us. These Terms grant no license for Commercial Use.

Free tier. We may offer a free tier that gives limited access to a sample of the Data without a payment method. It is not a trial and never converts to a paid plan (Section 6.1). What it includes is at our discretion. Anyone may use the free tier: an individual for Personal Use, or a business or other organization to try the Service before deciding whether to buy a Commercial License. A business may not use free-tier Data in its work, for example in research, trading, advice to clients or a product. If you sign up for a business, the business is bound by these Terms and “you” includes it. You confirm that you have authority to agree to these Terms for the business; if you do not, you are personally bound by them. The free tier is provided “as is” and “as available” and may be changed, limited, or discontinued at any time. The free tier is limited to one account per person or organization; we may revoke duplicate or improperly obtained free accounts without compensation.

Software. “Software” means any software we make available for use with the Service, in source or compiled form, however you obtain it (for example, from us, from a public package index such as the Python Package Index, or from a copy someone else installed). It includes our client libraries and their command-line tools, any local server that connects AI assistants or other tools to the Service, modules that draw charts, animations or other visual output, the files that come with them (such as logos, themes and templates), example notebooks and scripts, the code samples in our documentation, and all updates and versions of any of these.

Software license. Subject to these Terms, we grant you a limited, non-exclusive, non-transferable, non-sublicensable, revocable license, for as long as you have an account in good standing, to:

• (a) install the Software on computers that you control, and use it only to access and use the Service and the Data under your account, within your plan and the license in this Section 4 (Personal Use, or evaluation on the free tier). This license does not cover using the Software with any other data, such as your own data or data from another provider, unless we have given you express written permission, which may be given by email from an OptionSpace company address. Use of the Software for Commercial Use requires a Commercial License Agreement;
• (b) configure and adapt the Software for your own use with the Service (for example, by changing settings, styling a chart or editing a figure it returns), as long as you do not distribute the adapted version; and
• (c) copy and adapt the code samples in our documentation and example notebooks into your own programs, only for use with the Service under this license.

The Software is designed to work only with an account and an API key, and you can get an API key only by accepting these Terms. The Software is licensed, not sold. We and our licensors keep all rights in it that these Terms do not expressly grant.

Conditions of the Software license. The license in this Section is granted on the condition that you comply with the restrictions on the Software in Section 5 (paragraphs 9 to 13). Any use of the Software that breaches those restrictions is outside the license.

Recording your acceptance. You accept these Terms when you create your account, by ticking the box that asks you to agree to them. We keep a record of the date and time you did so, and the version of these Terms in effect at that time is the version you accepted. You need an account, and an API key from it, to use the Software, so your acceptance covers your use of the Software, including the license and restrictions for it. When we update these Terms, you do not need to accept them again: Section 16 explains how and when an update applies to you. The Software may remind you of these Terms.

Installing the Software without an account. If you install or use the Software without an account, these Terms still apply to your use of it. Your only right is to install the Software and read its documentation in order to decide whether to open an account. The restrictions in Section 5 apply to you in full.

Open-source components. The Software may include or depend on open-source software that is licensed under its own terms. Those terms govern that software, and nothing in these Terms limits any right they give you. Our own code in the Software is not open source, even though you can read it.

Updates. We may release new versions of the Software, and may stop supporting or serving older versions. An older version may stop working with the Service. These Terms apply to every version.

5. Acceptable use and restrictions

You will not, and will not permit anyone else to:

1. Resell, redistribute, sublicense, publish, or otherwise make the Data available to any third party, whether for free or for a fee, except as expressly authorized in a separate written agreement with us;
2. use the Data to build, train, or improve any product or service that is offered to third parties and competes with the Service, or use the Data to train, fine-tune, or otherwise improve any machine-learning or artificial-intelligence model, other than models used solely for your own Personal Use;
3. share, transfer, or provide access to your account, API keys, or the Data to any other person (an account on a paid plan is for one individual; a business trying the free tier may let its own staff use its account), or exceed any seat, rate, volume, or usage limit applicable to your plan;
4. scrape, harvest, or bulk-extract the Service other than through interfaces and within limits we provide;
5. reverse engineer, decompile, or attempt to derive the source code, models, coefficients, or methodologies underlying the Service, except to the extent this restriction is prohibited by law;
6. remove or obscure any proprietary notice, or misrepresent the source or provenance of the Data;
7. use the Service in violation of any applicable law, exchange rule, market-data agreement, or third-party right, or to attempt to gain unauthorized access to the Service or its systems;
8. use the Service in any manner that could disable, overburden, or impair it;
9. copy, distribute, publish, sell, rent, lend, host, or otherwise make the Software or any part of it (including any adapted version) available to anyone else, except for installing copies for your own use as Section 4 allows, and except for unmodified copies made by a public package index and its mirrors under the license that comes with the Software;
10. use the Software, its code, structure, organization or interfaces, or the design of its charts, animations and other visual output (including their layouts, themes, styling and presentation conventions), as a source, model or reference to build, train or improve any product or service that competes with the Service, or provide any of them to any person or automated system (including an AI model) for that purpose. This paragraph does not stop you from working for, or building, a competing business. It stops you from using the Software, or anything taken from it, to do so;
11. use the Software with any service other than the Service, or use it to analyze, chart, display or otherwise process data that does not come from the Service (for example, your own data or data from another provider), unless we have given you express written permission, which may be given by email from an OptionSpace company address. Your own inputs to the Software, such as the symbols, dates, positions or settings you choose, are not data for this purpose. This paragraph does not stop you from using the Data in your own programs together with other data, as Section 4 allows;
12. use the Software to get around any API key, usage limit or other technical measure that protects the Service; or
13. remove, alter or obscure any copyright notice, license notice or source credit in the Software or in its Output (defined below), or any logo the Software places on Output. Choosing a theme that the Software offers is not a breach of this paragraph.

Use beyond your license. If you use a self-serve plan or the free tier for Commercial Use, or otherwise beyond Section 4, we may suspend or end your access (Section 14.2) and invoice you for that use at our then-current Commercial License rates for the period of that use, less what you paid us for that period.

Your plan is not for making a copy of the Data. Your plan gives you access to the Data through the Service. It is not a way to get your own copy of the Data. You may not use the Service to collect, download or store a substantial part of the Data (for example, much of the history of many symbols) in order to build or keep your own database, archive or mirror of it, whether through one account or several, or with help from anyone else. This applies even if you stay within your plan’s usage limits and use only our interfaces and the Software.

This does not stop ordinary research. You may use the Data in your own analysis, even analysis that needs a lot of history, and while you have access you may keep the Data you pulled for that analysis, your results, and the copies the Software keeps on your computer to work faster. Those copies are still subject to Section 14.4 when your access ends. What you may not do is pull the Data mainly to collect it rather than to analyze it, for example by working through symbols or dates in turn to assemble a copy you could use instead of the Service or after your access ends.

Breaking this paragraph is a material breach of these Terms. If we conclude that you have made such a copy, you must delete it when we ask.

If you want your own copy of the Data to keep on your own systems, contact us at [email protected]. We may offer a one-time download, which is a separate purchase under a separate written agreement and is not part of any plan.

We may monitor use for compliance and may suspend access for suspected violations. To do this, we may review how each account uses the Service, including its usage records, IP addresses and payment-method details as our Privacy Policy describes, and compare accounts that appear to be linked. If our systems or staff reasonably suspect that an account is being used to copy the Data in breach of this Section 5, we may slow, lower the usage limits of, or block access to all or part of the Service for that account and any accounts linked to it, including below the limits stated for your plan, while we review it. We will email you when we do this, say which part of the Service is affected, and tell you how to reach us, and you may reply to explain your use. We will review promptly. If we conclude that you were not copying the Data, we will restore your normal access. If we conclude that you were, we may keep the limits in place, or suspend or end your access under Section 14.2. Limiting your access under this Section does not change your Term or its payments.

Your own tools and service providers. Paragraphs 1, 3 and 9 above do not stop you from processing the Data and Output, or running the Software (including any local server it provides for AI assistants), with software you use, including AI assistants and analysis tools, or with service providers that act only for you (for example, a cloud host, or an AI provider handling your requests), as long as they use the Data only to provide their service to you, not for their own purposes, and do not use it to train or improve models they offer to others. You are responsible for how they use it.

Limited sharing with attribution. Notwithstanding paragraph 1 above, you may publicly share small, non-substitutive extracts of Derived Data (such as charts, screenshots, or individually quoted values) in commentary, research notes, social media posts, presentations, and publications, provided that you (a) attribute OptionSpace as the source (e.g., “Source: OptionSpace” or “Data: optionspace.ai”), (b) do not modify the substance of the extract, and (c) do not share extracts systematically, in bulk, via any API or feed, or in any manner that substitutes for a subscription. This paragraph does not permit republication of Market Data records.

Charts and other output of the Software. Charts, animations, images, files and other output that the Software produces from the Data (“Output”) contain Data and are subject to these Terms in the same way. You may use Output for your own use under your license. You may share Output publicly only as the “Limited sharing with attribution” paragraph above allows. When you do, keep the copyright notice, source credit and any logo that the Software places on it, which meets the attribution requirement of that paragraph, and do not present Output in a way that suggests we produced, reviewed or endorse your content.

6. Subscriptions, Billing & Refunds

This Section 6 (the “Subscription Terms”) governs paid self-serve plans. Our Refund & Cancellation Policy (the “Policy”) explains the same rules in plain terms, with examples, and is part of these Terms.

6.1 Free tier. The free tier (Section 4) needs no payment method. It is not a trial: it never converts to a paid plan, and there is no charge for it. To pay, you must choose a plan and complete checkout. The free tier is subject to these Terms in full, including Section 10.

6.2 Plans and billing. Every paid self-serve plan is billed monthly, on a term of one month (“month to month”), three months or twelve months (the “Term”).

• (a) When you are charged. Your first monthly payment is charged when you subscribe. Each later payment is charged on the same day of each month, or on the last day of any month that is shorter. Each payment is charged in advance for the month that begins on its date. If you move to a longer Term under Section 6.14(b), your billing date becomes the day of that change.
• (b) Your commitment. When you choose a 3- or 12-month Term, you commit to all of that Term’s monthly payments. This is a minimum purchase obligation. Turning off renewal (Section 6.5) does not reduce it.
• (c) Prices. Prices are in U.S. dollars and exclude taxes (Section 6.9). They are shown on our pricing page and, before you pay, in the commitment box at checkout. The price for a Term is fixed when that Term starts and does not change during it (Section 6.11), except through a change you make under Section 6.14.
• (d) Your Plan Details. Your plan’s monthly price, number of payments, Term dates and renewal deadline are those shown in the commitment box you agree to at checkout, as changed by any confirmation box you later agree to under Section 6.14, and repeated in the confirmation email we send you (your “Plan Details”).

6.3 Authorization to charge; automatic renewal. By subscribing, you authorize us and our payment processor to charge your payment method on file for each monthly payment of your current Term and, unless you turn off renewal before it starts, for each monthly payment of every renewal Term. If you pay from a bank account, this authorization covers debiting that account, and our payment processor emails you a copy of it.

• (a) A month-to-month plan renews each month.
• (b) A 3- or 12-month Term renews automatically when it ends, for another Term of the same length (again 3 or 12 monthly payments), at the price then in effect for your plan, or on the plan and Term you have booked under Section 6.14(c).
• (c) To stop a renewal, turn off renewal by 11:59 p.m. Eastern Time on the day before the renewal date (the “Renewal Deadline”). For a month-to-month plan, each monthly payment date is a renewal date.
• (d) Each renewal Term is a new commitment under Section 6.2(b).
• (e) If we stop offering your plan, we will tell you before your renewal date, and your subscription will end when your current Term ends unless you choose another plan.

6.4 Notices we send. We will email you, at the email address on your account:

• (a) a confirmation after you subscribe, and after you make or book a change under Section 6.14, with your Plan Details and how to turn off renewal;
• (b) a renewal notice 30 to 40 days before each renewal of a 3- or 12-month Term. It states the renewal date; the new Term’s length, monthly price and number of payments; the Renewal Deadline; and how to turn off renewal;
• (c) a separate notice 10 to 21 days before the first charge at a higher price under Section 6.11 (not a higher plan you choose under Section 6.14); and
• (d) notice before any material change to these Subscription Terms takes effect (Section 16).

Where the law requires a different or additional notice (for example, a yearly reminder, notice before a discount ends, or, if you pay from a bank account or with a debit card, notice at least 10 days before a payment that differs in amount from the previous one), we will give it. Any other email we send, such as a confirmation that you turned off renewal, is a courtesy; if one does not reach you, your subscription and its payments are unaffected.

6.5 Turning off renewal. You can turn off renewal at any time, online, from your account page. It takes no more steps than subscribing did, and it needs no phone call, chat or form. Before you confirm, we show you how many payments remain and the date your access ends. You may also turn off renewal by emailing [email protected], for example if you cannot, or would rather not, sign in. We may ask you to confirm your identity, for example by replying from your account’s email address. If your email reaches us before the Renewal Deadline, we will turn off renewal as of the time we received it. You can turn renewal back on at any time before your access ends.

6.6 What turning off renewal does. Turning off renewal stops the next Term. It does not end the current Term:

• (a) the remaining monthly payments of your current Term are still charged on their usual dates, and your paid access continues until the Term ends; and
• (b) on a month-to-month plan, your access continues to the end of the month you have paid for, and nothing further is charged.

Stopping use of the Service, deleting your API keys, closing your account, disputing a charge, or stopping a payment or revoking a debit authorization through your bank does not turn off renewal, end a Term, or reduce its payments.

6.7 No refunds; no cooling-off period. Except as stated in Section 6.8, all payments are non-refundable, and there is no trial or cooling-off period on paid plans. We do not refund or credit partial months, unused time, the remaining payments of a Term after you turn off renewal, or payments for Data you did not use or download. The one exception is the credit for unused time when you change plans under Section 6.14, which is applied to your payments and is not paid out except as Section 6.14(e) provides. The Service consists of digital data and analytics that are made available to you when each paid month begins.

6.8 Exceptions. We will refund:

• (a) a duplicate charge;
• (b) a billing error: a charge in the wrong amount, for a plan you did not choose, or that you did not owe under these Terms;
• (c) the unused part of a payment under Section 6.11(c) (New York price increases);
• (d) the unused part of the month you have paid for, where we end your subscription under Section 14.3 and choose a refund rather than continued access to the end of that month;
• (e) your payment in full, if we cancel a subscription under Section 6.15(a) (outside the United States); and
• (f) any amount the law requires us to refund.

The “unused part” of a payment is that payment multiplied by the number of days remaining in the month it paid for after your subscription ends, divided by the number of days in that month. Ask for a refund at [email protected] within 60 days of the charge. Refunds are made to the original payment method.

6.9 Taxes. Fees exclude sales, use, value-added and similar taxes. Where we are required to collect such taxes (including New York sales tax), we add them to your charge based on your billing address and show them at checkout and on your receipt. You are responsible for them, other than taxes on our net income. A change in a tax rate, or in whether a tax applies, is not a price change under Section 6.11.

6.10 Payment method; failed payments. You may pay by card or from a U.S. bank account. Payments are processed by our payment processor (currently Stripe), whose terms apply to the payment transaction. We keep a token for recurring billing, not your full payment details. You are responsible for keeping your payment method current, which you can do in the billing portal on your account page. If a payment fails (including a bank payment that is returned):

• (a) we email you the same day with a link to pay or to update your payment method, and ask you to do so within 7 days;
• (b) we retry the payment automatically: a card payment over the next 14 days (currently on about days 3, 7 and 14); a bank payment at most twice, as bank-network rules allow, and not after your bank reports that the debit was unauthorized or that you revoked your authorization. Around day 7 we send a final notice stating the date your subscription will be cancelled;
• (c) if the payment is still unpaid on that date, we cancel your subscription and your paid access ends. We may keep your access on until then; and
• (d) the payment that failed, and the remaining payments of your Term, remain due, although we may choose not to collect them.

A successful payment at any point ends this process.

Bank payments. A bank payment may take up to 4 business days to clear, and your access starts before it does. If your first bank payment is returned, we cancel your subscription and your access ends immediately, instead of following steps (a) to (c); that payment remains due, although we may choose not to collect it. You may revoke your bank-debit authorization by switching to another payment method in the billing portal or by emailing [email protected]; we will not debit that account again after that. Your access requires a valid payment method: if you revoke your authorization, or stop a payment through your bank, without adding another payment method, we may suspend your access until you add one. Neither releases you from a payment you owe: the payments of your Term remain due on their dates, and a payment we cannot collect is handled under this Section 6.10.

6.11 Price changes.

• (a) Never mid-Term. We may change the prices of our plans, but a price change never applies during a Term that has already started. For a 3- or 12-month Term, it applies from the next renewal Term. For a month-to-month plan, it applies from a monthly payment after the notice in Section 6.11(b).
• (b) Notice. Before we charge you a higher price under Section 6.11(a), we will email you a separate notice 10 to 21 days before the first higher charge, stating the old price, the new price and the date. You can avoid the higher price by turning off renewal by the Renewal Deadline before that charge.
• (c) New York: cancellation after a price increase. If your billing address is in New York and you are charged a higher price that you did not specifically agree to, you may cancel within 14 days after the first charge at that price by emailing [email protected]. Your subscription then ends, we refund the unused part of that payment, and nothing further is charged, including the rest of any Term that began with that charge. We will give the same right to customers in any other state whose law requires it.
• (d) What is not a price increase. A return to a price you specifically agreed to at checkout (for example, when a discount ends), or a higher price you choose by changing plans under Section 6.14, is not a price increase.

6.12 Disputes and chargebacks. If you believe a charge is wrong, please contact [email protected] before disputing it with your bank or card issuer. Most billing issues are resolved faster that way. If you dispute or reverse a payment through your bank or card issuer:

• (a) while the dispute is open, we will suspend your access and pause your subscription’s charges. A monthly payment that falls due during the pause is not charged, then or later. Your Term’s dates do not change. We may give the issuer records of your subscription, including your Plan Details and consent record, our emails, your receipts and your usage;
• (b) if the dispute is withdrawn or resolved in our favor, we will lift the suspension, and your access and your regular monthly payments then resume;
• (c) if it is resolved in your favor, we will end your subscription immediately, and nothing further is charged; and
• (d) a dispute or reversal of a payment that you authorized and owe does not cancel your obligation to pay it, although we may choose not to collect it.

6.13 Discount codes and personal offers.

• (a) How codes apply. Discount codes are entered on our website before checkout, so the commitment box shows the discounted payments, how many there are and the price afterwards. A code applies to the number of monthly payments it states. If that number exceeds the payments left in your Term, the rest apply to the next Term, as shown at checkout. After the discount ends, you pay the price shown at checkout.
• (b) Code rules. Each code has a limited number of redemptions and an expiry date, and may be limited to certain plans or to new customers. Each customer may use a code once, and only one discount can apply to a subscription. Codes are non-transferable, have no cash value, and cannot be combined with another code or with a personal offer. We may withdraw a code for future use at any time. That does not change a discount already applied to your subscription.
• (c) Personal offers. A personal offer link is for one person and one plan. It works only while you are signed in with the email address it was sent to, only for the plan it names, and only until the date it states. It is used up by the first completed checkout, and we may withdraw it before then.

6.14 Changing plans. In this Section, one plan is “higher” than another if our current monthly price for it on the same Term length is higher, and “lower” if it is lower. You can make the changes below from your account page while your subscription is active (not past due, suspended or paused under Section 6.12) and no other change to your plan or price is pending or scheduled. Otherwise, or to change a subscription that has a discount, email [email protected].

• (a) To a higher plan on the same Term. The change takes effect at once. On that day we charge you the higher plan’s price for the time left in your current billing month, less what you paid for your current plan for that time, plus applicable tax. After that, each monthly payment is at the higher plan’s price. Your billing date, the end date of your Term, and whether renewal is on do not change.
• (b) To a longer Term. You can move to a longer Term of your current plan or of a higher plan. The new Term is a new commitment under Section 6.2(b). It starts at once and replaces the rest of your current Term, whose remaining payments are no longer owed. On that day we charge the first monthly payment of the new Term, less a credit, in proportion to the time left, for the billing month you have already paid for, plus applicable tax. If the credit is more than that payment, the rest is taken off your next payment. Your billing date becomes the day of the change. You can make this change only while renewal is on. The new Term then renews under Section 6.3 unless you turn off renewal, which you can do at any time after the change (Section 6.5).
• (c) Any other change. A move to a lower plan or to a shorter Term, or both (including a lower plan on a longer Term, or a higher plan on a shorter Term), can be booked while renewal is on. It takes effect when your current Term ends; on a month-to-month plan, that is your next billing date. Until then your plan and payments do not change. You can cancel a booked change on your account page until the Renewal Deadline before it takes effect. If renewal is off when your Term ends, your subscription ends and the booked change does not happen.
• (d) How you agree; payment. Before any change, you see its amounts and dates in a confirmation box and agree to them there. They become your Plan Details from the day the change takes effect. By agreeing, you authorize us and our payment processor to charge your card, or debit your bank account, for the amount due that day and for each later payment shown, and Section 6.3 applies to those payments. If you pay by card, a change that is charged on the day takes effect only once that charge succeeds; if it does not succeed, the change does not happen. If you pay from a bank account, the change takes effect at once, and a payment that is later returned is handled under Section 6.10(a) to (d).
• (e) Credits. A plan-change credit is applied only to your payments. It has no cash value and is not refunded, except that if we end your subscription under Section 14.3, or cancel it under Section 6.15(a), before the credit is used, we refund what remains of it. It is not refunded in any other case, including when we end your subscription because you breached these Terms (Section 14.2).

6.15 United States only; Personal Use only.

• (a) United States only. Self-serve plans are available only to customers located in the United States, and you confirm at checkout that you are. If your billing address or the country of your payment method (for a card, the country that issued it; bank accounts must be U.S. accounts) is outside the United States, or if we cannot confirm that at least one of them is inside it, we will cancel the subscription and refund your payment in full.
• (b) Personal Use only. You confirm at checkout that you are an individual subscribing for Personal Use (Section 4).

6.16 Which document controls. On your plan’s price, number of payments and dates, your Plan Details control. On any other billing matter, if these Subscription Terms and the Policy conflict, these Subscription Terms control. Nothing in these Terms waives a right that applicable law does not allow to be waived.

7. Intellectual property

As between you and us, we and our licensors own all right, title, and interest in the Service, the Software and the Data, including all models, methodologies, software, source code, coefficients, surface fits, derived metrics, documentation, chart and visual designs, trademarks, and related intellectual property. These Terms grant you a license to use the Service, not any ownership of it. The name “OptionSpace,” our logo, and related marks are our property; you may not use them without our prior written consent except to accurately identify OptionSpace as your data source. Where the Software places our name or logo on Output, you may share that Output with them as Section 5 allows, without changing them.

Feedback. If you send us suggestions, bug reports, code changes or other feedback, you grant us a perpetual, irrevocable, worldwide, royalty-free license to use, copy, modify, distribute and otherwise exploit it for any purpose, without restriction or obligation to you, and you confirm that you have the right to grant it.

8. Third-party data and sources

The Data is computed from, or consists of, market data sourced from third parties, including exchanges, obtained through licensed data vendors. Third-party data is subject to the providers’ own terms, and your use of the Service must not violate any applicable market-data agreement. We are not responsible for errors, gaps, delays, or interruptions originating in upstream data, and third-party providers are not liable to you for the Service. We may add, change, or discontinue data sources.

Exchange requirements; attestations. Market Data originates from exchanges and is subject to the rules and requirements of those exchanges and of securities-information processors such as the Options Price Reporting Authority (OPRA). Access to certain data may be conditioned on your completing accurate attestations (for example, of your professional or non-professional subscriber status under applicable exchange definitions) and on additional exchange-required terms that we will present to you at that time. You agree that any answers you give in such attestations will be accurate and complete, and that you will promptly notify us if they change. If an attestation is or becomes inaccurate, we may reclassify your account, charge applicable exchange-required fees prospectively, or suspend access to the affected data.

Third-party beneficiaries. Our upstream data providers are intended third-party beneficiaries of Sections 5 and 8 with respect to the Data they supply, and may enforce the use and redistribution restrictions in those Sections directly against you. Except as stated in this paragraph, these Terms create no third-party rights.

9. Availability; changes to the Service

We provide the Service on a commercially reasonable, best-effort basis and do not guarantee uninterrupted or error-free availability. We may modify, suspend, add to, or discontinue any part of the Service, including datasets and fields, at any time. Where a change would materially and adversely affect a paid subscriber, we will use reasonable efforts to provide advance notice.

10. No investment advice; disclaimer of warranties; no reliance

NO INVESTMENT ADVICE; NO RELIANCE. Derived Data (including, without limitation, volatility surface fits, implied rate curves, implied event variance, realized volatility, and constant-maturity volatility, skew, and term-structure metrics, together with associated API responses, files, model outputs, and documentation) consists of analytical outputs computed by proprietary OptionSpace models applied to market data sourced from third parties. Derived Data is not market data and is not a quotation or execution price. Market Data included in the Service may be delayed, historical or incomplete, and must not be relied on as a current or executable price. Nothing in the Service, whether Derived Data or Market Data, is investment, legal, tax, or accounting advice, a recommendation to engage in or refrain from any transaction in any security, derivative, commodity, or other financial instrument, or an offer or solicitation. OptionSpace is not a registered investment adviser, broker-dealer, commodity trading advisor, commodity pool operator, futures commission merchant, or municipal advisor under U.S. federal or any state law, and nothing in these Terms or in any communication from us creates any advisory, fiduciary, or agency relationship.

You acknowledge that (i) Derived Data is derived through statistical and numerical models involving interpolation, extrapolation, smoothing, and other transformations, and may diverge materially from observed or executable market values, particularly during illiquidity, market stress, expiry rollovers, or corporate-action events (mergers, splits, special dividends, ticker changes, delistings); (ii) the Data may contain errors, gaps, or inaccuracies, including errors propagated from upstream sources; (iii) historical Data does not predict, guarantee, or imply any future market behavior or trading outcome; and (iv) any use of the Data for trading, investment, or risk-management purposes is undertaken at your sole risk and on your own independent judgment.

AI features. The Service may include features powered by artificial-intelligence models (for example, automated summaries, scheduled analyses, or assistants). AI-generated output may be inaccurate, incomplete, or may mischaracterize the underlying data; it is provided “as is” for informational purposes only, is not investment advice, and is subject to this Section 10 in full. You are solely responsible for verifying AI-generated output before relying on it. Prompts and related inputs may be processed by third-party AI providers as described in our Privacy Policy. AI features may be modified, limited, or discontinued at any time. The same applies when you connect the Software to an AI assistant or other tool of your choice: what that tool says or does with the Data, the Software or the Output is its provider’s responsibility and yours, not ours.

“AS IS.” THE SERVICE, THE SOFTWARE, THE OUTPUT AND THE DATA ARE PROVIDED “AS IS” AND “AS AVAILABLE,” AND, TO THE MAXIMUM EXTENT PERMITTED BY LAW, WE DISCLAIM ALL WARRANTIES OF ANY KIND, WHETHER EXPRESS, IMPLIED, STATUTORY, OR OTHERWISE, INCLUDING ALL IMPLIED WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, ACCURACY, COMPLETENESS, TIMELINESS, NON-INFRINGEMENT, TITLE, AND QUIET ENJOYMENT, AND ANY WARRANTIES ARISING FROM COURSE OF DEALING OR USAGE OF TRADE. WE DO NOT WARRANT THAT THE SERVICE WILL BE UNINTERRUPTED, ERROR-FREE, OR SECURE, OR THAT DEFECTS WILL BE CORRECTED. NO ADVICE OR INFORMATION, ORAL OR WRITTEN, OBTAINED FROM US CREATES ANY WARRANTY NOT EXPRESSLY STATED HERE.

Some jurisdictions do not allow the exclusion of certain warranties, so some of the above may not apply to you.

11. Limitation of liability

TO THE MAXIMUM EXTENT PERMITTED BY LAW, IN NO EVENT WILL OPTIONSPACE OR ITS OFFICERS, DIRECTORS, EMPLOYEES, OR SUPPLIERS BE LIABLE FOR ANY INDIRECT, INCIDENTAL, SPECIAL, CONSEQUENTIAL, EXEMPLARY, OR PUNITIVE DAMAGES, OR FOR ANY LOST PROFITS, TRADING OR INVESTMENT LOSSES, LOST DATA, OR LOSS OF GOODWILL, ARISING OUT OF OR RELATED TO THE SERVICE OR THESE TERMS, WHETHER IN CONTRACT, TORT, OR OTHERWISE, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.

OUR TOTAL AGGREGATE LIABILITY ARISING OUT OF OR RELATED TO THE SERVICE OR THESE TERMS WILL NOT EXCEED THE GREATER OF (a) THE TOTAL FEES YOU PAID US IN THE TWELVE (12) MONTHS IMMEDIATELY BEFORE THE EVENT GIVING RISE TO THE LIABILITY, OR (b) ONE HUNDRED U.S. DOLLARS ($100).

These limitations are a fundamental basis of the bargain between you and us and apply even if a limited remedy fails of its essential purpose.

12. Indemnification

You will indemnify and hold harmless OptionSpace and its officers, directors, and employees from any third-party claims, damages, liabilities, and reasonable costs (including reasonable attorneys’ fees) arising out of or related to (a) your misuse of the Service or Data, (b) your breach of these Terms (including the restrictions in Section 5), or (c) your violation of any law or third-party right, including any market-data agreement or the rights of any data provider.

13. Dispute resolution: arbitration and class-action waiver

PLEASE READ THIS SECTION CAREFULLY. IT AFFECTS YOUR LEGAL RIGHTS.

13.1 Informal resolution first. Before starting arbitration, you agree to email [email protected] with a description of your dispute and to try in good faith to resolve it for 30 days.

13.2 Binding arbitration. Except as provided below, any dispute, claim, or controversy arising out of or relating to the Service or these Terms will be resolved by binding individual arbitration administered by a recognized arbitration provider (e.g., the American Arbitration Association) under its consumer arbitration rules, rather than in court. The Federal Arbitration Act governs the interpretation and enforcement of this Section. The arbitration will be held in the county of your residence or another mutually agreed or convenient location, or by video/telephone where permitted.

13.3 Jury and class-action waiver. You and OptionSpace waive any right to a jury trial. All claims must be brought in your individual capacity, and not as a plaintiff or class member in any purported class, collective, consolidated, or representative proceeding. The arbitrator may not consolidate more than one person’s claims or preside over any representative or class proceeding. If this class-action waiver is found unenforceable as to a particular claim, that claim (and only that claim) will proceed in court, and the rest of this Section remains in effect.

13.4 Mass-arbitration batching. If 25 or more similar arbitration demands are asserted against us by or with the assistance of the same or coordinated counsel, the demands will be administered in staged batches of no more than 50 at a time (with filing fees and arbitrator selection applied per batch) to promote efficient resolution. The statute of limitations is tolled for demands awaiting a batch.

13.5 Small-claims and injunctive carve-out. Either party may bring an individual claim in small-claims court if it qualifies, and either party may seek injunctive or equitable relief in court to protect intellectual property or confidential information.

13.6 30-day opt-out. You may opt out of this arbitration agreement by emailing [email protected] with the subject line “Arbitration Opt-Out,” your name, and your account email, within 30 days of first accepting these Terms. Opting out does not affect any other part of these Terms.

13.7 Time limit for claims. To the extent permitted by applicable law, any claim arising out of or relating to the Service or these Terms must be filed within one (1) year after the claim accrued, or it is permanently barred. This paragraph does not shorten any period that applicable law does not permit to be shortened.

14. Suspension and termination

14.1 By you. You may stop using the Service at any time. A paid subscription ends only as Section 6 provides: turning off renewal stops the next Term, and the payments of the current Term remain due (Sections 6.5 and 6.6). Closing your account does not end a paid Term or its payments.

14.2 By us, for your breach. We may suspend or end your access, with or without notice, if you materially breach these Terms (including the restrictions in Section 5), use the Service fraudulently or unlawfully, or put the Service, its users or our data providers at risk. We may suspend or limit access (for example, as Section 5 describes for suspected copying) while we investigate a suspected breach, and will restore it if we find none. If we end your subscription because of your breach, payments already made are not refunded, and the remaining payments of your Term remain due, although we may choose not to collect them.

14.3 By us, for any other reason. We may end your subscription, or discontinue the Service or your plan, for any other reason, including where a data provider or the law requires it, with reasonable notice where practical. In that case, nothing further is charged and the remaining payments of your Term are not owed. For the month you have already paid for, we will either keep your access on until that month ends or refund the unused part of it (as defined in Section 6.8).

We may end or change the free tier at any time, without compensation.

14.4 Effect of termination. When your access ends, the license in Section 4 ends. You must stop using the Data and, within 30 days, delete all copies of it in your possession or control, including Data held in files, databases, models or other works you created from it. The only exception is extracts you have already published as Section 5 allows. When your account ends, the Software license in Section 4 also ends: you must stop using the Software and delete or uninstall all copies of it in your possession or control. On our request, you will confirm the deletion in writing. Payment obligations that arose before termination, and the refund terms in Sections 6.7, 6.8, 6.10(d), 6.11(c) and 6.12, survive. So do Section 5 (for Data, Software and Output you received while you had access), Sections 7, 8, 10, 11, 12, 13, this Section 14, and Sections 15 through 17.

15. Governing law

These Terms are governed by the laws of the State of New York (the company’s principal place of business is in Dutchess County, New York), without regard to its conflict-of-laws rules, except that the Federal Arbitration Act governs Section 13. Subject to Section 13, any claim not subject to arbitration will be brought exclusively in the state or federal courts located in New York, in New York County, and you consent to their jurisdiction.

16. Changes to these Terms

We may update these Terms from time to time. If we make a material change, we will give you notice (for example, by email or a notice on the Service) before it takes effect.

• Paid subscriptions: from your next renewal. Prices, Term lengths, renewal and refund terms never change during a Term, except through a change you make under Section 6.14. A material change to these Terms applies to your paid subscription from your next renewal, and we will email you about it at least 5 business days and no more than 30 days before that renewal, so that you can turn off renewal if you do not want it.
• Changes that apply sooner. A change that is not material, or that we make because the law, a court, a regulator or one of our data providers requires it, or to protect the security of the Service, applies from the date we give notice. For the free tier, changes apply from the date we give notice.
• Disputes already under way. A change to Section 13 does not apply to a dispute that arose, or of which we had notice, before the change takes effect.

Where the law requires a change to be handled differently, we will follow the law. Your continued use of the Service after a change takes effect means you accept it. If you do not agree, stop using the Service and turn off renewal (Section 6.5).

17. Miscellaneous

• Entire agreement. These Terms (including the Refund & Cancellation Policy and your Plan Details) and the Privacy Policy are the entire agreement between you and us regarding the Service and supersede prior agreements on that subject. If you have a separate signed agreement with us covering the Service, it governs to the extent it conflicts with these Terms.
• Severability. If any provision is found unenforceable, it will be limited or severed to the minimum extent necessary, and the rest remains in effect.
• No waiver. Our failure to enforce a provision is not a waiver of it.
• Assignment. You may not assign these Terms without our consent; we may assign them in connection with a merger, acquisition, or sale of assets.
• Notices; electronic communications. We may give notice by email to your account address or by posting on the Service; you give notice to us at [email protected], or, for billing matters, at [email protected]. You consent to receiving notices, disclosures, and other communications from us electronically, and agree that electronic communications satisfy any legal requirement that a communication be in writing.
• Force majeure. We are not liable for delays or failures caused by events beyond our reasonable control.
• Export and sanctions. You represent that you are not located in, and will not use the Service or the Software in, any jurisdiction subject to comprehensive U.S. sanctions, and that you are not on any U.S. restricted-party list. You will not export or re-export the Software in breach of U.S. export laws.
• Relationship. These Terms do not create any partnership, agency, or employment relationship.

18. Contact

• General and legal: [email protected]
• Billing: [email protected]
• Commercial licenses (any business use): [email protected]
• Mail: Options Universe Inc. (d/b/a OptionSpace), 6383 Mill St, Unit 286, Rhinebeck, NY 12572