Titan Capital Management,

LLC (Lake Investments)

Fund Investment Objectives

The primary instrument that LAKE INVESTMENTS trading program uses is options in the S&P500. The program is designed, based upon proprietary methods, to sell volatile options. It may from time to time purchase or sell a future contract to hedge any position already placed. Any offset would either be to liquidate the position in its entirety, or again, to sell or purchase a futures contract.