Trader Program Agreement

This Trader Program Agreement (the "Agreement") is entered into between Karen Technologies LLC, a Wyoming limited liability company doing business as KarenOptions ("KarenOptions," "Company," "we," "us," or "our"), and the individual who has purchased, completed, or activated a KarenOptions evaluation or funded account ("Trader," "you," or "your").

This Agreement supplements the KarenOptions Terms of Service, Privacy Policy, and Risk Disclosure. By clicking to accept, paying an activation fee, or accessing a funded account, you agree to be legally bound by this Agreement.

1. Program Structure

KarenOptions currently offers monthly subscription evaluation accounts for options traders. A trader who satisfies the applicable evaluation rules may become eligible to activate a funded account by paying the current one-time activation fee. An active evaluation subscription is required to maintain funded account access and payout eligibility.

Evaluation accounts are simulated. Funded accounts are made available only at KarenOptions' discretion and remain subject to ongoing compliance, risk management, and trader performance review. Nothing in this Agreement obligates KarenOptions to fund any trader, to continue any funded account indefinitely, or to approve any payout request.

1.1 No Brokerage / Advisory Services

KarenOptions is not acting as your broker, financial advisor, investment advisor, or fiduciary, and does not execute trades on your personal brokerage account. Execution and clearing for Program accounts may be provided by one or more third-party brokers, dealers, or technology providers, including but not limited to Tastytrade (collectively, “Execution Partners”). Any trading you perform under the Program is done in accounts controlled by, or on behalf of, KarenOptions or its affiliates, not in your personal brokerage account.

2. Definitions

• “Dashboard” means the online portal, website, or platform interface provided by KarenOptions or its technology partners where you can view your trading metrics, Program Rules, and account parameters.
• "Evaluation Account" means a simulated KarenOptions account used to measure your compliance with published trading rules.
• “Drawdown Limit” means the maximum permitted loss level, expressed as a dollar amount and/or percentage of account size, that is applied in real-time based on your current account equity as described in the Program Rules. The drawdown trails continuously with your account growth and is monitored during all trading hours.
• "Funded Account" means a KarenOptions account you are permitted to trade after satisfying applicable evaluation conditions and paying the activation fee, subject to this Agreement.
• "Activation Fee" means the current one-time fee required to activate a funded account, presently $149 per funded account.
• "Evaluation Subscription" means the monthly recurring fee required to maintain an active evaluation account. Subscriptions auto-renew every 30 days and may be cancelled with at least 24 hours notice before the next billing date. An active Evaluation Subscription is required to maintain funded account access and payout eligibility.
• "Program Rules" means the trading rules, metrics, restrictions, risk controls, payout standards, and conduct requirements published by KarenOptions on its site, dashboard, or official communications.
• "Buffer" means the non-withdrawable threshold that must remain in a funded account before a payout may be approved: $2,000 on a $50,000 account, $3,000 on a $100,000 account, and $4,500 on a $150,000 account, unless a different product page states otherwise.
• "Consistency Rule" means the current funded-account standard that no single trading day may represent more than 30% of the total profit supporting a payout request.
• "Winning Day"means a trading day with at least $200 of positive net realized P&L, unless KarenOptions posts a different threshold for a specific product.

3. Evaluation Accounts

KarenOptions evaluation accounts are offered on a monthly subscription basis, billed every 30 days. Current standard prices are $199/month for a $50,000 account, $299/month for a $100,000 account, and $399/month for a $150,000 account. KarenOptions may also offer promotions, including a 5-account $50,000 evaluation bundle for $100/month. All subscriptions auto-renew until cancelled. You may cancel at any time with at least 24 hours notice before your next billing date. Cancellation takes effect at the end of the current billing period.

Unless a specific product page says otherwise, the evaluation objective requires:

• a 6% profit target;
• 7 winning days;
• full compliance with the applicable trailing drawdown and conduct rules; and
• closure by 4:00 PM Eastern Time of positions expiring the same day.

The trailing drawdown currently equals 4% on $50,000 accounts and 3% on $100,000 and $150,000 accounts, and it follows the highest equity reached by the account, including unrealized gains, during trading hours. A breach of the drawdown limit results in account failure.

Evaluation fees are non-refundable. Failing an evaluation, breaching the rules, or deciding not to continue does not entitle you to a refund or replacement unless KarenOptions chooses to offer one.

4. Account Limits and Funded Account Activation

4.1 Account Limits

There is no limit on the number of evaluation accounts you may purchase or hold at any time. You may hold a maximum of 5 funded accounts at any time. You may hold only 1 live trading account at any time.

4.2 Funded Account Activation

If you satisfy the evaluation rules and KarenOptions determines that your performance is legitimate and compliant, you may be invited to activate a funded account by paying the Activation Fee. Activation remains optional for you and discretionary for KarenOptions.

KarenOptions may decline, delay, or revoke activation for operational, compliance, fraud-prevention, or risk reasons. If KarenOptions accepts an activation fee and is then unable to provision a funded account for reasons attributable solely to KarenOptions, we may issue a refund or replacement at our discretion.

Funded account capital belongs exclusively to Karen Technologies LLC. You are not an employee, partner, or agent of KarenOptions, and you do not obtain any ownership or property interest in Company capital or account assets.

4.3 Subscription Requirement for Funded Accounts

You must maintain an active Evaluation Subscription to keep your funded account(s) active and remain eligible for payouts. If your subscription lapses — whether due to cancellation, payment failure, or any other reason — your funded account(s) will be suspended after a 72-hour grace period. During the grace period you may reactivate your subscription to maintain access. After the grace period, KarenOptions may, at its sole discretion, suspend your funded account(s) and deny payout requests until an active subscription is restored. This requirement applies only to accounts opened after the effective date of this provision — existing one-time purchasers are grandfathered and are not required to maintain a subscription.

5. Funded Account Rules, Live Accounts, and Payouts

5.1 Ongoing Trading Requirements

Funded accounts remain subject to the published Program Rules, including trailing drawdown enforcement, product restrictions, same-day expiration closure requirements, winning-day standards, and the Consistency Rule.

5.2 Buffer and Eligible Profit

The Buffer must remain in the funded account and is not withdrawable. Subject to review, the current KarenOptions program allows traders to request payouts from eligible net profits above the Buffer, while staying within all funded-account rules.

5.3 Funded Account Payout Standards

Unless KarenOptions posts different product-specific standards, payout eligibility generally requires:

• reaching the applicable Buffer;
• recording at least 7 Winning Days;
• satisfying the 30% Consistency Rule; and
• remaining in full compliance with this Agreement and all Program Rules.

Funded account payout requests are capped at $1,000 per request, unless a posted program update says otherwise. All payout requests take 3–5 business days to process. KarenOptions may review account activity before approving any payout.

5.4 Go Live Option

KarenOptions reserves the right, at its sole discretion, to push any eligible trader to a company-managed live trading account on the Tastytrade platform with their payout balance instead of processing a cash payout. This means that instead of receiving a cash withdrawal, your payout may be applied as capital in a live trading account managed by KarenOptions.

When exercising the Go Live Option, KarenOptions reserves the right to close existing funded accounts or limit the number of funded accounts a trader may hold at any time.

5.5 Multi-Account Live Transition

When KarenOptions determines that a trader is eligible to transition to a live trading account: only one account will be transitioned to live trading status. You may hold only one live account at any time. All other funded accounts will be temporarily locked until performance on the live account is evaluated. A monthly data fee of $49 will apply to the live trading account.

5.6 Live Account Rules and Payouts

Your single live account operates with an 80% Trader / 20% Firm profit split. Live account payouts are unlimited; however, withdrawals must exceed the starting settled balance and may not reduce the account balance below the original starting balance. Live account withdrawals take 3–5 business days to process.

5.7 Pending Payout Forfeiture

If a payout request has been submitted but has not yet been approved or processed, and the associated trading account is subsequently found to be in breach of any Program Rules, this Agreement, or the Terms of Service — including but not limited to drawdown violations, prohibited trading activity, or rule infractions — the pending payout request shall be automatically void and forfeited. KarenOptions is under no obligation to honor, process, or pay any payout request for an account that is in breach at the time of review, regardless of when the payout was requested. All determinations regarding account breaches and payout eligibility are made at KarenOptions' sole discretion and are final.

5.8 Capital Reserve Forfeiture

Any account that has been breached, closed due to a rule violation, or suspended for any reason shall forfeit all accumulated capital reserves. Capital reserves from such accounts will not be carried over, transferred, or applied to any Live Account, new Funded Account, or any other account within the Program. This applies regardless of the account type, stage, or the amount of capital reserve accrued prior to the breach, closure, or suspension. Traders must build capital reserves from scratch on any new or replacement account, subject to the then-current Program Rules.

5.9 Payout Denial, Reduction, or Forfeiture

KarenOptions may deny, reduce, or void a payout request if the account is in breach at the time of review, if we identify suspicious or prohibited conduct, if the account no longer satisfies the Consistency Rule or Winning Day standards, if documentation is missing, or if payment would be inconsistent with law, sanctions, tax, or internal risk controls.

5.10 Taxes

You are solely responsible for taxes arising from payouts or compensation under this Agreement. KarenOptions may request tax forms and may report or withhold amounts where required by law.

6. Prohibited Conduct

You may not engage in fraud, abuse, or program manipulation. Prohibited conduct includes, without limitation:

• exploiting stale quotes, latency, bugs, glitches, or other technical anomalies;
• coordinated or opposite-side trading across related accounts;
• account sharing, credential sharing, or allowing any third party to trade your account for any reason — each account must be traded exclusively by the registered account holder;
• using automated trading bots, algorithms, scripts, macros, or any form of automated order execution — all trades must be placed manually by the trader;
• using a VPN, VPS, proxy, remote desktop, or any tool designed to mask, spoof, or obscure your true IP address, location, or device identity;
• using false, stolen, or misleading identity or payment information;
• violating laws, third-party platform terms, or sanctions restrictions; or
• any activity KarenOptions reasonably determines is abusive, unrealistic, or inconsistent with legitimate participation in the program.

If prohibited conduct is detected or reasonably suspected, KarenOptions may void trades, close accounts, deny payouts, terminate this Agreement, and permanently ban participation.

7. Representations and Warranties

You represent and warrant that:

• you are at least 18 years old and legally capable of entering this Agreement;
• the information you provide to KarenOptions is accurate, complete, and current;
• you are not subject to sanctions or other restrictions that prohibit participation;
• you understand the speculative nature of options trading and the limits of simulated evaluations;
• your evaluation results were achieved through legitimate, rule-compliant trading; and
• your participation does not violate any law, contract, or obligation applicable to you.

8. Risk Disclosure and No Advice

Options trading involves substantial risk, and not every trader is suited to this program. You acknowledge that you have reviewed the KarenOptions Risk Disclosure. KarenOptions does not provide investment advice, portfolio advice, legal advice, or tax advice.

Evaluation performance is simulated and may differ materially from live or actual trading conditions. Past or hypothetical performance does not guarantee future results.

9. Term, Suspension, and Termination

This Agreement begins when you accept it, pay an activation fee, or access a funded account, whichever occurs first, and continues until terminated.

KarenOptions may suspend or terminate this Agreement, any funded account, or any payout eligibility at any time for breach, compliance concerns, operational needs, suspected misconduct, risk-management reasons, or other reasons consistent with our Terms of Service and Program Rules.

Upon termination, your funded account access ends immediately. Pending payouts may be reviewed, denied, or forfeited depending on the reason for termination and the account's compliance status at the time of review.

10. Disclaimers and Limitation of Liability

THE PROGRAM AND FUNDED ACCOUNT SERVICES ARE PROVIDED "AS IS" AND "AS AVAILABLE." TO THE MAXIMUM EXTENT PERMITTED BY LAW, KAREN TECHNOLOGIES LLC DISCLAIMS ALL WARRANTIES, EXPRESS OR IMPLIED, INCLUDING WARRANTIES OF MERCHANTABILITY, FITNESS FOR A PARTICULAR PURPOSE, AND NON-INFRINGEMENT.

TO THE MAXIMUM EXTENT PERMITTED BY LAW, KAREN TECHNOLOGIES LLC AND ITS AFFILIATES WILL NOT BE LIABLE FOR INDIRECT, INCIDENTAL, CONSEQUENTIAL, SPECIAL, EXEMPLARY, OR PUNITIVE DAMAGES ARISING OUT OF OR RELATED TO THIS AGREEMENT OR THE PROGRAM.

TO THE MAXIMUM EXTENT PERMITTED BY LAW, OUR TOTAL LIABILITY UNDER THIS AGREEMENT WILL NOT EXCEED THE ACTIVATION FEE OR, IF GREATER, THE MINIMUM AMOUNT REQUIRED BY NON-WAIVABLE LAW.

11. Indemnification

You agree to indemnify, defend, and hold harmless Karen Technologies LLC and its affiliates, members, managers, officers, employees, contractors, and service providers from claims, losses, liabilities, damages, and expenses, including reasonable attorneys' fees, arising from your participation in the program, your trading activity, your breach of this Agreement, or your violation of law.

12. Disputes and Governing Law

This Agreement is governed by Wyoming law. Before starting arbitration, you agree to send written notice of the dispute to [email protected] and allow 30 days for informal resolution.

Except where prohibited by law, disputes relating to this Agreement will be resolved by binding individual arbitration administered by the American Arbitration Association in Sheridan, Wyoming, or remotely by agreement. You and KarenOptions waive any right to participate in a class, collective, or representative proceeding.

13. Platform Access and Data

Trading access may be provided through third-party platforms, including Tastytrade. You agree to comply with all such providers' terms of use. While KarenOptions endeavors to provide reliable access, we do not warrant continuous or error-free operation.

All intellectual property in the Program, including the KarenOptions name, logos, website content, Dashboard design, and proprietary trading models, are owned by Karen Technologies LLC or its licensors.

14. Electronic Signatures and Communications

You agree that electronic signatures, click-wrap acceptance, and electronic records shall have the same force and effect as manual signatures and paper records. You consent to receive all communications, agreements, disclosures, and notices electronically, including via email or through the Dashboard.

15. General Terms

This Agreement, the Terms of Service, the Privacy Policy, the Risk Disclosure, and the current Program Rules form the complete agreement between you and KarenOptions regarding funded participation in the program.

KarenOptions may amend this Agreement by posting an updated version or sending notice. If a provision is unenforceable, the remaining provisions stay in effect. KarenOptions may assign this Agreement to an affiliate or successor. You may not assign it without prior written consent.

16. Notices

Legal notices to KarenOptions must be sent to:

Karen Technologies LLC d/b/a KarenOptions
30 N Gould St Ste R
Sheridan, WY 82801
[email protected]

By proceeding with the KarenOptions program, you acknowledge that you have read, understood, and agreed to this Trader Program Agreement.