EFTA Document EFTA01461290

From: Tazia Smith Sent: 1/22/2014 11:46:43 AM To: jeevacation@email.com CC: Paul Morris Subject: ; Vinit Sahni • Vahe Stepanian I B XLK Calls - low implied vol (II Classification: For internal use only Jeffrey - ; Nav Gupta 1 ]; Nav highlights XLK OTC calls below; we like this big-cap US tech underlier. The listed market offers comparable low implied vol entry point. The March $37 strike calls are offered -72bps (offer vol: 11.9%). Jun $38 calls are offered -1% (offer vol: 11.8%