i have read and,undenfeq such trading Fisk tolerance an Agreement ar₹ f have elect represent t situation the Opti , strategi S'icno Signed Sag.100 Deutsche Bank Wealth Management. Special. Statement for Uncovered Option Writers Acceeett Na N4Gxxx968 Jeffrey Epstein There are special risks associated with uncovered option writing which expose the investor to potentially &gnificart loss. I understand that this type of strategy may not be suitable for all customers approved for options transactions. I also understand each of the following: 1, The potential loss of uncovered call writing is unlimited, since there is no upper limit on a stock's price and the loss to a writer of an uncovered call equals the stock price minus the exercise piece. The writer of an uncovered call is in an extremely risky position, and may incur large losses if the value of the underlying instrument increases above the exercise price. Such a loss can exceed the equity in the call writer's account. 2. Tne potential loss from writing uncovered put options is also substantial. The writer of an uncovered put option bears a risk of loss it the value of the underlying instrument declines below the exercise price. However, since stock prices cannot be lower than zero, the maximum loss is equal to the strike price of the put sold less the premium received for that put, Such loss could be substantial if there is a significant decline in the value of the underlying instrument and can exceed the equity in the put writer's account. 3. For combination writing, where the investor writes both a put and a call on the same undedyina instrument. the potential risk is unlimited and can exceed the equity in the option writer's account. 4. Uncovered option writing is thus suitable only for the knowledgeable investor who understands the risks, has the financial capacity and willingness to incur potentially substantial losses and has sufficient liquid assets to meet applicable margin r