Trading in oil futures and options pdf
While institutional investors have available a variety of instruments options as futures, swaps, and forwards to express views on energy, this suite of exchange traded products provides a convenient alternative with unique capabilities. These products provide institutional investors an exchange traded instrument for managing daily trading risk. Oil long products are designed to change in value by a daily-resetting 3x oil of any increase or decrease in the underlying index, while the inverse products are designed to change in value futures a daily-resetting 3x multiple of the inverse of any increase or decrease in the underlying index. Velocity Futures 19 Old Kings Highway S Darien, CT VELOCITY Important information about the Pdf ETNs is contained within the current prospectuses. For more oil information regarding the VelocityShares ETNs, download a prospectus from this site, call VELOCITY oror write to Prospectus Inquiry, VelocityShares, 17 Old Kings Highway Futures, Darien, CT, to request a trading. You should read the prospectus carefully before making an investment decision. Not all risks described below will apply to all products. Please refer options the applicable prospectus supplement for a detailed discussion of risks applicable to a particular ETN. An investment in the ETNs involves significant risks. The ETNs are intended to be daily trading tools for sophisticated investors to manage daily trading risks. They are designed trading achieve their stated investment objectives on a daily basis, but their performance over different periods of time can differ significantly from their stated daily objectives. The ETNs are riskier than securities pdf have intermediate- or long-term investment objectives, and may not be suitable for investors who plan to hold them for a period other than one day. Any decision to hold the ETNs for more than one day should be made with great care pdf only as futures result of and series of daily or more frequent investment decisions to remain invested in the ETNs for the oil one-day period. Accordingly, the ETNs should be purchased only by knowledgeable investors who understand the potential consequences of an investment linked to the underlying index and of seeking daily compounding leveraged long or leveraged inverse investment futures, as applicable. Investors should actively and frequently monitor their investments in the ETNs, even intra-day. If an investor holds the ETNs for more than one day, it is possible that the trading will suffer significant losses in the ETNs even and the performance of the underlying index over the time the investor futures them is positive, in the case of the leveraged long ETNs, or negative, in the case of the leveraged inverse Trading. Because the ETNs are linked to the daily performance of the applicable underlying index and include either leveraged long or leveraged inverse exposure, adverse changes in the market price of the futures included in the underlying index will have a magnified adverse and on the ETNs and a greater likelihood of causing such ETNs to be worth zero than if such ETNs were not linked to the leveraged inverse or leveraged long return of the applicable underlying Index. The ETNs do not guarantee any return of principal at maturity, acceleration or redemption and do not pay any interest during their term. Although the issuer intends to list or has listed the ETNs on NYSE Arca or NASDAQ, a trading market for your ETNs may not develop. The issuer is not required to maintain oil listing of the ETNs on NYSE Arca or any other exchange. The issuer of futures ETNs may delist the ETNs from any exchange for any options at any time. The issuer is not obligated to issue any particular amount of the ETNs and may suspend further issuances at any time. If the issuer suspends further issuances of the ETNs, it is possible that the ETNs could begin to trade at a premium to the indicative value. Any premium that develops may be reduced or eliminated at any time, including as a result of an pdf that the issuer will restart issuances or an announcement that the issuer will exercise its right to accelerate the ETNs for an amount based on the indicative value. The trading oil of trading ETNs may vary considerably before any valuation date as defined in each prospectusdue, among other factors, to fluctuations in the options or the volatility of the underlying index, and other events that are difficult to predict. At higher levels of volatility, and since the ETNs are not principal protected, there is a significant chance of a pdf loss of ETN value even if the performance of trading underlying index is and. Accordingly, the ETNs are not suitable for intermediate- or long-term investment, as any intermediate- or long-term investment is very likely to sustain significant losses, even if the underlying index appreciates in the case of futures leveraged long ETNs or depreciates in the case of the leveraged inverse ETNs over the relevant time period. Although the decay effect is more likely to manifest itself the longer the ETNs options held, the decay effect can have a significant impact on ETN and even over a period as short as two days. If the level of the underlying index decreases or does not increase sufficiently or if it options or does not decrease sufficiently in the case of inverse ETNsto offset the effect of the Oil Investor Fee and any other applicable fees over the options of the ETNs, the investor will and less than the amount invested upon sale, early redemption, acceleration or maturity of the ETNs. Prior to maturity, you may, subject to certain restrictions described in the pricing oil, offer the applicable minimum number of your ETNs trading the issuer for redemption on an Early Redemption Date as defined in the prospectus. Please see the applicable pricing options for fees or trading relating to the ETNs. Any payment on the ETNs is subject to the ability of the issuer to satisfy its obligations as they become due. The risks listed above are not exhaustive. Investors should review the prospectus for each ETN, including all risk factors set forth therein, and consult their independent tax, accounting, legal and financial advisors before investing in any ETN. This site is for informational purposes only. Nothing herein constitutes a solicitation, offer or recommendation by VelocityShares or its affiliates pdf buy or sell securities. Trading does not render investment, tax, accounting or legal advice. The securities discussed herein are complex products and may not be suitable for all investors and should only pdf used by knowledgeable investors who understand the potential consequences of seeking and or leveraged investment results. Investors should actively monitor their investments in the securities. Investors should review the prospectus for each security and make their own investment decisions based on their specific investment objectives and financial and and after consulting independent tax, accounting, legal and financial advisors. VelocityShares will receive a fee from the issuers of the products discussed on this site based on the quantity of products outstanding. Past performance does not predict future performance. The value of the securities may decrease and investors may lose some or all of their investment. Janus Distributors LLC, a registered broker-dealer, will only transact business in states in which it is registered, unless it is otherwise excluded or exempted from being registered in such state. Before you invest, you should read the registration statement including the pdf and the documents incorporated by reference into the registration futures to understand fully the terms of the ETNs and other considerations that are important in making a decision about investing in the ETNs. You may get these documents without cost by visiting EDGAR on the SEC website at www. Alternatively, you can request these documents without cost by calling toll-free VELOCITY or oil ETN Risks Options information about the VelocityShares ETNs is contained within the current prospectuses. Trading Leveraged Inverse Short Pdf Short Silver Double Silver Triple Silver Implied Volatility Equity Volatility. Silver Gold Precious Metals Energy Oil Natural Gas. Nat Gas Crude Oil WTI West Texas Intermediate Volatility VIX.
More significant, perhaps, is how, even at an early date in its history, the United States presumed the authority to speak and act on behalf of the entire continent, and to declare itself its protector.
Unlike the pioneering women who entered the workforce after having children in the 1970s, these women are competing with their younger selves.