Internal email discussing Broadcom stock options trade and trading mistakes

To: jeffrey E. <jeevacation@gmail.com>; Richard Kahn ay Subject: RE: Jeffrey | understand your frustrations and appreciate your willingness to figure out a solution. | have some ideas which | will send you over the weekend if that is OK. Re Broadcom: the stock is up $1.20 at $211.50. After the initial shock reaction of yesterday, there has been a lot of focus on the cost synergies etc. but very little conviction in revenue opportunities. However until we hear from management as to the overall intentions of the deal, uncertainty will linger. This morning the pricing is as follows: Aug 200 Puts cost $4.10 Sept 200 Puts cost $7.90 Earning are on 08/30. So worst case is the uncertainty lingers until then which would argue to buy the Sept puts. However | still prefer buying the Aug puts as | would fully expect more clarity from management before August expiry. Paul Paul Barrett Alpha Group Capital LLC 142 W 57" Street, 11° Floor, New York, NY 10019 CX SrA cee CAPITAL From: jeffrey E. <jeevacation@gmail.com> Sent: Friday, July 13, 2018 7:11 AM To: Paul Barrett i: Richard Kahn Subject: - Im not angry, sorry, itissad. itis apparent that you have no experience trading. we both madeamistake. . the spy trades were the results of arank amatuer... youtook a postion on the direction of the market. ok. you decided to play it extra short time and short. . why? becaue the options are cheaper. ? knowing full well that time premium was running. . first silly move. . | allowed as promised to give you authority. . you seta target. . it hit the traget , you moved in back. based on media reporting on trump visit? you didnt act. the market dipped and you panicked. . AMATEUR. wrong options wrong timing , no discipline and as a percentaage of investment. a one day HOUSE_OVERSIGHT_031807