From: Tazia Smith
Sent: 4/24/2014 11:46:33 AM
To: jeevacation@gmail.com
CC: • Vinit Sahni ; Nay Gupta ; Paul Morris
; Vahe Stepanian
Subject: American Airlines (+1.05mm).... ICI
Classification: Confidential
Good Morning Jeffrey -
American Airlines reported a s solid earnings beat this AM ($0.54 vs. $0.48 eps, inline revs of $10bn). Delayed response
in stock price as geopolitical fears (Putin) over-rode a decent durable goods beat in the US, but now, as you know, equity
markets have reversed to the upside and AAL is outperforming. Interday and 12mo charts below. Bloomberg markets on
your risk reversal here (they're wide, just fy):
Jan 20 call 0.30 x 0.45
Jan 20 put 17.0 x 18.60
Implies $16.55 net vs. your $6 cost, currently +$1.05M on your position
Indicative level only, subject to market movement. Source: Bloomberg 4/24/14
AAL Interday Price History as of 4/24/14
AAL US 37.9£3 ..S 137.96 37.98'. 6 •- 67
..dl 11:37 I 7,523,877 37.84 - 37.98 _ 36.76 1 280.541M
r95ave As ions • 1M Edit intrWay
Mrstnr•Yri 09:30 :6:00 =a1=1" car ,""e
TICk V re ir,tcart. iStx. Gee,
Track c Annotate News , Zoom
ON MI. US Equity 37.98
M Close on 04/23 ---- 37.09 37.80
T High on 04/24 11:37 37.98
••- Average 37.3779 37.60
1 Low on 04/24 10:04 36.76
37.40
37.20
37.00
36.80
10:00 12:00 13:00 14:00 15:00
24 Apr 2014
AAL 12mo Price History as of 4/24/14
CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0 123750
CONFIDENTIAL SDNY_GM_00269934
EFTA01461603