EFTA Document EFTA01453326

do nav trade On Thu, Mar 13, 2014 at 9:24 AM, wrote: Classification: Confidential Jeffrey - Consider the USDRUB 1-mo binary for -25.5% (very sensitive to spot, so indicative levet, we'd work an order 26% or better). vanilla talls for comparison, lmth 3% OTM vanilla tall is -0.57°4/0.67% (12.4% / 13.25% vol) 2mth 4.25% OTM vanilla tall is - 0.96°4/1.08% (12.2% / 13% vol) Nav highlights the binary below, where the payout is much cleaner. Ruble weakens 3% (european observation)in this ex