EFTA01361907

From: Paul Morris Sent: 1/20/2015 2:43:36 PM To: Stewart 0ldfield Subject: Re: Twitter follow-up - TRS + short calls [CI Classification: Confidential I'll tell him again From: Stewart Oldfield Sent: Tuesday, January 20, 2015 01:10 PM To: Paul Morris Subject: Re: Twitter follow-up - TRS + short calls [C] Classification: Confidential Thanks. Would be easier if he would just copy me ... From: Paul Morris Sent: Tuesday, January 20, 2015 12:18 PM To: Stewart Oldfield Subject: Fw: Twitter follow-up - IRS + short calls [C] Classification: Confidential From: Daniel Sabba Sent: Tuesday, January 20, 2015 09:44 AM To: Jeffrey Epstein <jeevacation@gmail.com> Cc: Vahe Stepanian; Richard Kahn Paul Morris Subject: RE: Twitter follow-up - TRS + short calls [C] Classification: Confidential Jeffrey, Wanted to follow-up with refreshed pricings for ly options. TWTR Spot Ref: 36.56. TRS: Previous levels still apply. European Call options on TWTR: Option Seller: Southern Financial LLC Option Buyer: DB Notional: 250,000 OTC Call Expiry: 20-Jan-16 Strike: 100% of spot Bid: 19.30% (Mid 19.50%) Vol: 48.46% Delta: 60% Expiry: 20-Jan-16 Strike: $40 CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) DB-SDNY-0051182 CONFIDENTIAL SDNY_GM_00197366 EFTA01361907