Terms and Conditions

Updated: July 7, 2023

These Terms and Conditions, the Privacy Policy, and all other terms and policies posted on The Options Industry Council's website (“Website”) or that The Options Industry Council may provide you from time to time (collectively, the “Terms of Use”) govern your access to and use of the Website and any other content, products, and services (each a “Service” and collectively, the “Services”) made available by The Options Clearing Corporation or its representatives, affiliates, officers, and directors (collectively, “OCC”), including any data or other information made available to you as part of the Services (“Data”). Please read the Terms of Use carefully as they constitute a legal agreement between you and OCC. 

BY ACCESSING OR USING THE SERVICES OR DATA, YOU AGREE TO ALL TERMS OF USE AND ALL APPLICABLE LAWS, RULES AND REGULATIONS RELATING TO THE SERVICES OR DATA AND YOUR USE THEREOF (“APPLICABLE LAW”). IF YOU DO NOT AGREE TO THE TERMS OF USE AND THE APPLICABLE LAW, YOU MAY NOT ACCESS OR USE THE SERVICES OR DATA.

“You” (and all of its derivations) means you individually and any person acting as your agent, under your authority, or with your permission and, if you are accepting the Terms of Use on behalf of a company or other legal entity, that legal entity. If you are accessing the Services or Data on behalf of an entity, you hereby agree to the Terms of Use on your behalf and on behalf of such entity. You represent and warrant that you are: (a) at least 18 years of age (or the minimum age in your jurisdiction for entering into a binding contract); and (b) capable of entering into a legally binding agreement.

No Recommendation. The Services are intended to educate investors about U.S. exchange-listed options issued by the OCC. No statement in any of the Services is to be construed as furnishing investment advice or being a recommendation, solicitation or offer to buy or sell any option or any other security. Options involve risk and are not suitable for all investors.

Prior to buying or selling an option, a person must receive a copy of Characteristics and Risks of Standardized Options.Copies of this document may be obtained from your broker or from any exchange on which options are traded. An informational copy of this document may accompany materials requested from OCC and is also available from the Website.

Disclaimers of Warranties and Liability.
YOU EXPRESSLY UNDERSTAND AND AGREE THAT THERE MAY BE OMISSIONS OR INACCURACIES IN THE SERVICES OR DATA, AND YOUR ABILITY TO ACCESS THE SERVICES OR DATA MAY, FROM TIME TO TIME, BE DELAYED AND/OR INTERRUPTED DUE TO SCHEDULED AND/OR UNSCHEDULED CAUSES. YOUR USE OF THE SERVICES OR DATA IS AT YOUR SOLE RISK AND THE SERVICES AND DATA ARE PROVIDED ON AN "AS IS" AND "AS AVAILABLE" BASIS, WITHOUT ANY WARRANTY OF ANY KIND. NEITHER OCC NOR ANY THIRD PARTY THAT PROVIDES DATA TO OCC FOR USE IN THE SERVICES (INCLUDING THEIR AFFILIATES, “DATA PROVIDERS”) MAKE ANY EXPRESS, IMPLIED OR STATUTORY REPRESENTATION OR WARRANTY REGARDING THE SERVICES OR THE DATA. TO THE FULLEST EXTENT PERMITTED BY LAW, OCC AND THE DATA PROVIDERS SPECIFICALLY DISCLAIMS ALL REPRESENTATIONS OR WARRANTIES AS TO THE AVAILABILITY ON AN UNINTERRUPTED, TIMELY, SECURE, OR ERROR-FREE BASIS, ACCURACY, RELIABILITY, CURRENCY, COMPLETENESS, TIMELINESS, NON-INFRINGEMENT, MERCHANTABILITY AND FITNESS FOR A PARTICULAR PURPOSE OF THE SERVICES AND THE DATA, AND ALL REPRESENTATIONS OR WARRANTIES ARISING FROM CUSTOM OR USAGE OR BY OPERATION OF LAW.

OCC AND THE DATA PROVIDERS ACCEPT NO RESPONSIBILITY FOR (A) ANY INACCURACIES, DELAYS, ERRORS OR OMISSIONS IN THE SERVICES OR THE DATA, REGARDLESS OF CAUSE, OR FOR ANY DAMAGES RESULTING THEREFORM, OR (B) THE CONSEQUENCE OF RELYING OR ACTING UPON, INFORMATION OR ADVICE, WHETHER ORAL OR WRITTEN, AVAILABLE THROUGH THE SERVICES OR THE DATA. THE SERVICES AND THE DATA DO NOT REFLECT THE OPINIONS OF OCC OR THE DATA PROVIDERS.  IT IS YOUR SOLE RESPONSIBILITY TO DETERMINE WHETHER THE SERVICES OR THE DATA ARE SUITABLE AND ADEQUATE FOR YOUR NEEDS. OCC DOES NOT WARRANT, ENDORSE, GUARANTEE, OR ASSUME RESPONSIBILITY FOR ANY INFORMATION, DATA, MATERIALS OR SERVICES ADVERTISED OR OFFERED BY A THIRD PARTY THROUGH OR IN CONNECTION WITH THE SERVICES, ANY HYPERLINKED WEBSITE OR SERVICES, OR THE DATA. ANY RISK OF VIRUSES OR OTHER FORMS OF ELECTRONIC CONTAMINATION REMAINS, AT ALL TIMES, WITH THE USER OF THE SERVICES OR THE DATA.

YOU UNDERSTAND AND AGREE THAT, TO THE FULLEST EXTENT PERMITTED BY APPLICABLE LAW, UNDER NO CIRCUMSTANCES, INCLUDING NEGLIGENCE, WILL OCC OR ITS AFFILIATES, DATA PROVIDERS OR OTHER SUPPLIERS, OR ANY OF ITS OR THEIR RESPECTIVE DIRECTORS, OFFICERS, EMPLOYEES, AGENTS, OR REPRESENTATIVES BE LIABLE UNDER ANY THEORY OF LAW FOR ANY DIRECT, INDIRECT, SPECIAL, INCIDENTAL, OR CONSEQUENTIAL DAMAGES, DAMAGES FOR LOSS OR INACCURACY OF DATA, COST OF PROCUREMENT OF SUBSTITUTE GOODS OR SERVICES, BUSINESS INTERRUPTION, OR LOSS OF PROFIT, ARISING OUT OF THE USE, RELIANCE ON OR THE INABILITY TO USE THE SERVICES OR THE DATA, ANY TRANSACTION CONDUCTED THROUGH THE SERVICES, ANY FAILURE OF PERFORMANCE, ERROR, OMISSION, OR DELAY, ANY THEFT, ANY UNAUTHORIZED ACCESS TO OR ALTERATION OF DATA, OR OTHER TANGIBLE OR INTANGIBLE LOSS, EVEN IF ADVISED OF THE POSSIBILITY OF SUCH DAMAGES.


Links and Third Party Content. The Services may provide links to other websites. These links are provided for convenience and informational purposes only, and not for purposes of making any endorsement or recommendation. You should be aware that when you may be leaving the Website by selecting a link. The information available on other websites may have certain restrictions on its use or distribution. Users should make themselves aware of such restrictions. OCC is not responsible for, nor has it developed or reviewed, the content of those websites, and does not make any warranty, express or implied, as to the accuracy, usefulness or timeliness of such information. In addition to links, other third party content may be available from any of the Services or the Data. The views expressed are solely those of the author of the article, and do not necessarily reflect the views of OCC; the information presented is not intended to constitute investment advice or recommendations to purchase, sell or hold securities of any company, but is intended to educate users concerning the use of options, and the information presented is based on particular events that may or may not recur in the future.

Proprietary Interests. Information available from the Services is owned, licensed or controlled by OCC or third parties.

A list of certain copyrights, trade names, service marks, trademarks, logos and patents of OCC may be found on the Copyright, Trademark, and Patent Information page, which is incorporated herein by reference. All non-OCC trademarks, copyrights, trade names, service marks, logos or other identifying feature used in the Services are property of their respective owners.

As between you and OCC, OCC owns and retains all right, title, and interest, including all intellectual property rights, in and to the Services and all names, trademarks, service marks, logos, and other indicia of OCC or OCC’s licensors or third party partners used in connection with the Services (“OCC Trademarks”). You have no right to use any OCC Trademark in any manner without the advance written permission of OCC.  All content included in or made available through any Service, such as text, graphics, logos, button icons, images, video clips, digital downloads, data compilations, and software is the property of OCC or its content suppliers and protected by U.S. and international copyright laws. The compilation of all content included in or made available through any Service is the exclusive property of OCC and protected by U.S. and international copyright laws.

You acknowledge that certain third-party Data provided through the Services is subject to the proprietary rights of the applicable Data Providers.  

The Services and the Data may not be reproduced, duplicated, copied, sold, resold, or otherwise exploited for any commercial purpose. Any unauthorized use of the Services or the Data may violate copyright laws, trademark laws, the laws of privacy and publicity and communications regulations and statutes.

CUSIP Database. If you have access to the CUSIP Database on this Website or through the Services, you agree that the CUSIP Database and the information contained therein (“CUSIP Data”) constitute the valuable intellectual property of CUSIP Global Services and the American Bankers Association.  Even though you may be accessing the CUSIP Data through this Website or the Services, no proprietary rights are being transferred to you in such materials or in any of the information contained therein.  American Bankers Association CUSIP Database provided by FactSet Research Systems Inc. Copyright 2023. All rights reserved.

Changes to Terms of Use. OCC reserves the right, at its sole discretion, to change, modify or otherwise alter the Terms of Use at any time by posting a notice on the Website or by other means of electronic communication. Unless otherwise indicated, such changes will become effective immediately. It is your responsibility to review the Terms of Use periodically for changes. Your continued use of the Services following the posting or other provision of any updated Terms of Use will constitute your acceptance of such updated Terms of Use and those updated Terms of Use will apply to your continued use of the Services going forward. Your use of the Services is subject to the Terms of Use in effect at the time of your use.

Changes to the Services. OCC reserves the right to modify or discontinue, temporarily or permanently, the Services (or any part thereof) including the Data with or without notice.  Changes made to the Services may require you to update your account information or the devices or systems through which you access the Services in order to continue using the Services.  You agree that OCC will not be liable to you or to any third party for any modification, suspension, or discontinuance of the Services.

Privacy. The Privacy Policy, which forms part of the Terms of Use, explains how OCC collects, stores, shares, or otherwise uses any personal information you provide through the Services (“Personal Data”). OCC’s use of Personal Data will be in accordance with the Privacy Policy and you hereby grant OCC the right to use your Personal Data consistent with the Terms of Use, including the Privacy Policy.

User Obligations. You are responsible for all of your activity related to the Services and may not use the Services for any purpose other than as set forth in the Terms of Use. Any conduct by you that, in OCC’s sole discretion, restricts or inhibits any other user from using or enjoying the Services will not be permitted. Without limitation of the foregoing, you will not (and will not permit any third party to): (a) use the Services for any purpose other than to enter into a legitimate engagement for you or for another person for whom you are legally authorized to act; (b) if you are using the Services to act on behalf of another person or entity, fail to inform such other persons about the Terms of Use that apply to the engagement you created on their behalf, including all rules and restrictions applicable thereto; (c) take any action that you know is false, misleading, untruthful, or inaccurate; (d) use the Services in connection with any fraudulent or illegal conduct, transaction, or business; (e) “spam” others or “phish” for others’ personal information; (f) use the Services in a manner that is unlawful, abusive, harassing, defamatory, libelous, profane, threatening, invasive of a person’s privacy, violative of any third party proprietary rights, tortious, or is otherwise inappropriate; (g) use the Services to transmit software viruses or any other computer codes, files, or programs that are designed or intended to disrupt, damage, limit, obtain unauthorized access to, or interfere with the proper function of the Services, including the Website and any other software, hardware, or telecommunications equipment; (h) take any action that imposes or may impose (as determined by OCC in its sole discretion) an unreasonable or disproportionately large load on OCC’s (or its third party providers’) infrastructure; (i) interfere or attempt to interfere with the proper working of the Services; (j) bypass, circumvent, or attempt to bypass or circumvent any measures OCC may use to prevent or restrict access to the Services, including the Website and other accounts, computer systems, and networks connected thereto; (k) frame or mirror any portion of the Services or incorporate any portion of the Services into any product or service; (l) use meta tags or any other “hidden text” using any OCC Trademark; (m) decipher, decompile, disassemble, reverse engineer or otherwise attempt to derive any source code or underlying ideas or algorithms of any of the Services or make or attempt to make any modification to the Services, except to the limited extent applicable laws specifically prohibit such restriction; (n) modify, translate, or otherwise create derivative works of the Services; (o) sell, resell, copy, rent, lease, loan, distribute, or charge any party for access to the Services; or (p) use or launch any automated system, including “robots,” “spiders,” or “offline readers,” to access the Services.

Indemnification. User agrees to indemnify and hold harmless OCC and its affiliates and their officers, directors, employees and agents from any and all claims and losses imposed on, incurred by or asserted as a result of or related to: (a) any non-compliance by user with the Terms of Use; or (b) any third-party actions related to user's receipt and use of the Services, whether authorized or unauthorized. You will cooperate fully as reasonably required in the defense of any such claim.

Electronic Communications and Feedback. When you use any Services, or send e-mails, live chat, messages through the Website, and other communications from your desktop or mobile device to OCC, you are communicating with OCC electronically. You consent to receive communications from OCC electronically, such as e-mails, live chat, mobile push notices, or notices and messages on the Website.

OCC welcomes your feedback about its Services. However, you acknowledge and agree that any comments, ideas, notes, suggestions or other feedback (“Feedback”) you provide is OCC’s exclusive property, and OCC may use all such communications in any manner, including reproducing, disclosing, and publishing such communications, all without compensation to you. You hereby assign to OCC all of your right, title, and interest in your Feedback, including all intellectual property rights therein.

Monitoring and Disclosure. OCC uses software programs and other tools to monitor traffic on the Website and to identify unauthorized attempts to upload or change information, or otherwise cause damage to the integrity of the Services. OCC may disclose any content, records, or electronic communication of any kind: (i) to satisfy any law, regulation, or government request; (ii) if such disclosure is necessary or appropriate to operate the Services; or (iii) to protect its rights or property or the rights of others.

Suspension and Termination. OCC retains the right at its sole discretion to suspend or terminate access to anyone to the Services (or any portion thereof), at any time and for any reason, including, but not limited to, for violation of the Terms of Use. OCC reserves the right to pursue all available remedies for any violation of the Terms of Use. You may terminate the Terms of Use at any time by discontinuing your use of the Services. The rights and obligations contained in the Terms of Use, which by their nature require performance following termination, shall survive any termination or expiration of the Terms of Use.

Severability. If any provision of the Terms of Use, or any portion thereof, is found to be void, illegal, unenforceable, or invalid, such provision or portion thereof shall be enforceable to the fullest extent permitted by law, the void, illegal, unenforceable, or invalid provision or portion thereof shall be deemed severed from the Terms of Use, and the remainder of the Terms of Use shall continue in full force and effect.

Non-waiver. No failure by any party to take any action or assert any right hereunder will be deemed to be a waiver of such right and will not prevent such party from enforcing such right in the future. The waiver by a party of any of its rights or a breach in a particular instance will not be construed as a waiver of such rights or breach or of the same or different rights or breach in subsequent instances.

Entire Agreement. The Terms of Use set forth the entire understanding and agreement between you and OCC with respect to the subject matter contained herein and supersede any other agreement, proposals, and communications, written or oral, between OCC and you with respect to the subject matter hereof.

No Joint Venture, No Derogation of Rights. No joint venture, partnership, employment, or agency relationship is created between you and OCC as a result of the Terms of Use or your use of the Services and neither party has any authority of any kind to bind the other in any respect. OCC’s performance of the Terms of Use is subject to existing laws and legal process, and nothing contained herein is in derogation of OCC’s right to comply with governmental, court, and law enforcement requests or requirements relating to your use of the Services or information provided to or gathered by OCC with respect to such use.

Assignment. You may not assign your rights or obligations hereunder without OCC’s express prior written consent. OCC may assign, transfer, or delegate any of its rights and obligations hereunder without your consent. Any assignment or transfer or purported assignment or transfer in violation of this Section is null and void. The Terms of Use shall be binding upon the permitted heirs, successors, and assigns of the parties hereto.

Governing Law & Forum Choice. The Terms of Use shall be governed by the laws of the State of Illinois without regard to its conflict of law provisions, and user agrees to submit to the personal and exclusive jurisdiction of the courts located within Cook County, Illinois.