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sd-10-EFTA01461030Dept. of Justice

EFTA Document EFTA01461030

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Stepanian. Date: 10/10/2014 10:33 AM Subject: S&P risk reversals.... [c] classification: confidential Good Morning Jeffrey - s&P listed options indicative levels below. If you have an upside view on uS big caps, consider a risk reversal. Example: 1895p/1925c SPX November risk reversal +50.20 premium collected, offer side (Bloomberg) ref: 1917.01 Example: 186p/193c SPY March risk reversal +$0.02 premium collected, offer side (Bloomberg) ref: 191.53 (Embedded image moved to file: pic0

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Dept. of Justice
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sd-10-EFTA01461030
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