EFTA02618795.pdf

From: Paul Barrett < Sent: Wednesday, October 10, 2018 9:26 PM To: Cc: Richard Kahn Subject: Some ideas around this sell-off/other updates Jeffrey 1. You have 10,000 MSFT. Stock is down 6% from the highs. Currently at 1=6.20. If you want to add to the=position, the December 100 Puts pay $2.35 (implied vol at 32% from 20% las= month) 2. GOOG at 1095. Recall we had 1000 shares called away at $1100 in the s=mmer. The Dec 1025 Puts pay $26=90 The Dec 1000 Puts pay $20=o:p> 3. 28% of our $8MM JPM Pfd was officially called at par for value 10/30.=We could buy some C 5.80% preferreds that are callable in 11/2019 at a YTC=of 4.10%. If they don't call we go to L + 409bps which is a very attractive back-end spread.</=i> 4. 2yr Treasury Bond yields are now at 2.84%. We have around $27MM in ca=h on my side. What do you think of moving some of that cash into 2yr bonds= Paul Paul Barrett Alpha Group Capital LLC 142 W 57th Street, 11th Floor,-New York, NY 10019 EFTA_R1_01822950 EFTA02618795 6 (c) <=p> paul@a=phagroupcapital.com <mailto > 2 EFTA_R1_01822951 EFTA02618796