From: Paul Morris
Sent: 11/26/2013 : :
To: jeeyacation@gmail.com
Subject: Fw: INTC buy-and-write [C)
Attachments: INTC 11.22.13.pdf
Classification: Confidential
you're right, yes i get it,
Paul Morris
Managing Director
Deutsche Bank Private Bank
345 Park Avenue, 27th Floor
New York, NY 10154
— Forwarded by Paul MornydbEdbcom on 11261201302:47 PM —
From. Tazia Smith
To. jeevacation@gmailcom.
Cc. harrybellellINMINI. Paul Morris. Vahe Stepaniaacas
Date 11/22:2013 10.25AM
Subject. INTC buy-and-write IC]
Classification: Confidential
Not fancy - INTC, down over 4.5% following a self-critical Analyst Day. DB is one of the only analysts across the Street
defending the name - in fact he raised his price target to 28 from 26. In part, he thinks management is being conservative
and setting up for outperformance., $2 eps for 2014E (current 12x vs large cap semi peers at 16x)
INTC spot is $24.09
Dec 23 calls are —$1.21 bid
Dec 24 calls are —$0.51 bid
INTC has a 3.7% current dividend yield, goes ex 2/5, reports 1/16 (Jan expiry is 1/18)
Tazia Smith
Director I Key Client Partners - US
Deutsche Bar* Securities Inc
Deutsche Asset 8 Wealth Management
345 Park Avenue. 26th Floor
New York. NY 10154
CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 100913
CONFIDENTIAL SDNY_GM_00247097
EFTA01446636