EFTA01039890.pdf

From: Paul Barrett 1MMII > To: Jeffrey Epstein <jeevacation@gmail.com> Cc: Richard Kahn Subject: Euro Date: Wed, 19 Jul 2017 14:39:12 +0000 Jeffrey Tried calling. We can buy euro calls through Merrill on the ETF. It's not ideal but all we have for now. Vol is around 7pct which is a decent level. I would start by buying 3 month 1.1700 equivalent calls on the FXE which tracks the EURO. Spend $100,000 to start. Controls around 10mm notional. AND: Then put on a 1.1250 x 1.1750 risk reversal on 5mm (buy the 1.1750 calls and sell the 1.1250 puts) Solve to make it cashless. Paul Paul Barrett EFTA01039890