From: Vahe Stepanian
Sent: 5/14/2014 9:50:43 AM
To: jeevacation@gmail.com
CC: Paul Morn
Subject: AAL Take Gains? [CI
Classification: Confidential
Good Morning Jeffrey-
Following up on your American Airlines position. With AAL currently —$39 and near its all-time high of $39.39 (5/12/14),
consider taking gains on your position.
Your position is as follows:
L/S Quantity Position Cost Basis/ct.' Last' Gain/(Loss)'
Long 1,000 AAL Jan'15 20 Calls S 8.04 S 19.20 $ 11.16
Short 1,000 AALJan'15 20 Puts $ 1.98 5 0.30 $ 1.68
Total Gain/ct. $ 12.84
AAL Spot Ref. = $39.10 I "Total Gain $ 1,284,000.00
'Note: Pricing is indicative and subject to market fluctuations. Source = Bloomberg LP
Please let us know if you wish to unwind.
Thank you,
Vahe
VI
Vahe Stepanian
Associate I Wealth Investment Coverage
Deutsche Bar* Securities Inc
Deutsche Asset 8 Wealth Management
345 Park Avenue - 26th Floor
New York. NY 10154-0004
Tel. +1 (212) 454-1539
Fax +1 (646) 257-3131
Mobile +1 (347) 854-4676
Email vahe.stepanlanadb.com
MI trade execution information contained herein is being provided as an acoonvnodation at your request in advance of your receipt of the official trade
confirmation(s). Additional trade detail information avaAable upon request. The terms of the trade(s) may be subject to change prior to settlement, and therefore
the official trade confinnation(s) and account statements issued by Deutsche Bar* shall govern. Deutsche Bank is not responsible for any discrepancy between
the informal execution report and the official trade confirmation(s) or account statements.
CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) DB-SDNY-0 123808
CONFIDENTIAL SDNY_GM_00269992
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