From: Daniel Sabba
To: "Jeffrey E." <jeevacation .com>
Cc: Vahe Stepanian
Subject: I am calling you, but wanted to send you the following illustration. [CI
Sent: Friday, February 6, 2015 2:54:19 PM
imaqe002.jpq
Classification: Confidential
The red dot is when you entered the trade.
The current level represents the 98.7% percentile since 2000.
Annualized trailing sday average realized volatility of CL1
Daniel Sabba
Key Client Partners
Deutsche Bank Securities Inc.
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EFTA_R1_00041302
EFTA01747109