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LimitP Order Disclaimer

1. Market Conditions: Liquidity is often lower, and price volatility may be significantly higher during pre-market and post-market hours. Fewer trading venues and market participants are active during extended hours, which can affect order routing and execution quality. As a result, stop orders may execute at prices much different than anticipated, especially in fast-moving or illiquid markets. Additionally, stocks can be halted in regular hours and resume trading in extended hours (or vice versa), which may trigger stop orders unexpectedly.
2. Execution Risk: Stop orders in extended hours may trigger due to price fluctuations that may not be representative of broader market trends. There is no guarantee that your stop order will execute at the stop price or better, as the execution price may vary significantly due to market conditions and available liquidity. Furthermore, even if the market price trades through your stop level, your order may fail to fill completely or at all due to insufficient liquidity or lack of counterparties in extended-hours trading.
3. Market Data: Information and data from pre-market and post-market trading may be less reliable than during regular market hours. This may impact decision-making and the performance of your stop orders.
4. Corporate Action/Reorganizations Corporate Action/Reorganizations: Please be advised that stop orders placed on your account will not automatically be adjusted for corporate actions such as stock splits, reverse splits, spin-offs, or special dividends. It is your responsibility to monitor the underlying security for such events, and to modify or cancel stop orders accordingly. Any execution of a stop order under these circumstances remains the full responsibility of the client. Cobra Trading, Inc. shall not be held liable for any losses resulting in unintended triggering of stop orders during the extended session, including but not limited to the reasons above. By placing a stop order that includes the pre-market or post-market trading sessions, you acknowledge that you have read and understand these risks. You agree to assume full responsibility for the outcomes of your orders, including any potential financial losses.