Terms of use

The supplier and customer graph and the ETF-exposure aggregation are Varamir's own work: the extraction, the entity resolution, the direction of each edge, its disclosed weight and date, and the compilation of them into a graph. That compilation is published under the Creative Commons Attribution 4.0 International licence. You may copy it, redistribute it, and build on it, commercially or not, provided you credit Varamir as described below.

Two limits worth stating plainly. The licence covers Varamir's compilation, not the filings underneath it: SEC filings are public records and the verbatim sentence attached to every edge remains the filer's own words, reproduced from a public document. And the licence is a grant of our rights, not a warranty about anyone else's.

Prices, price history, company profile fields, earnings estimates and actuals, and options data are supplied to Varamir under licence by a market-data vendor. That licence lets us show them to you. It does not let us give them away.

So these fields are offered for reading on the site and nothing further: no bulk export, no redistribution, no feed, no machine-readable interface, and no scraping into a dataset of your own. Anything Varamir computes from them carries the same restriction, however much of the arithmetic is ours — the earnings record, event sensitivity, pair betas, and the market-implied expected move are all measured against stored vendor prices.

Varamir stores headlines, links, publishers and timestamps, never article text. A headline belongs to the publisher who wrote it, and the link beside it is there so you read the story at the source. The one-line summaries are Varamir's own composition and are covered by the graph licence above.

Attribution under CC BY needs to name the source and, where the medium allows, link to it. In prose: Varamir with a link to varamir.com, or to the specific company page the data came from. In a dataset or an API response, a source field carrying the page URL is enough.

If you are quoting a single relationship rather than the graph, the more useful citation is the filing itself — every edge carries the accession number and a link to the EDGAR document that disclosed it, and that link will outlive us.

Crawling and citing Varamir is invited, not merely tolerated. Named AI and search crawlers are allowed by name in the site's robots.txt with no rate limit, every reference page has a plain-markdown twin under /md, and the pages carry structured data so a machine can tell an owned dataset from a rented figure. The two things asked in return are the ones above: credit the graph, and do not redistribute the market data.

Outside the European Economic Area, the United Kingdom and Quebec, Varamir may use PostHog, a product-analytics service, to understand which parts of the product get used — pages viewed and controls clicked, tied to a random identifier stored in your browser, never to your name or email. Visitors in the EEA, the UK and Quebec get no analytics at all rather than a consent banner, and a browser that sends Global Privacy Control or Do Not Track is respected the same way, everywhere. Nothing is ever sold or shared for advertising.

Everything here is provided as-is. Varamir works hard at being right and publishes its methodology so you can check it, but it does not warrant that any figure is accurate, current, or fit for a decision you are about to make. Where a number matters, follow the link to the filing.

Varamir is not a broker-dealer or an investment adviser, does not execute orders, holds no custody, and is not affiliated with the SEC, any exchange, any issuer, or any fund. Nothing on the site is investment advice. Market-implied ranges describe what current option prices imply; they are not forecasts.

If something here is wrong, tell us.