To: Jeffrey Epsteinueev i n m il. m
Cc: Giuffrida, David J
From: Barrett, Paul S
Sent: Tue 10/11/2011 6:56:03 PM
Subject: Update
Jeffrey
+2.5MM YTD -4.4MM since inception
We have seen a nice rally in the SP500 and Corn. HY lagging.
I think we should take advantage of this rally by collaring the 5P500 for a month — buy 1150 puts and sell
1230 calls. Would do it on $3MM.
Paul
Paul Barrett, CFA
Managing Director
Global Investment Opportunities Group
lPMorgan Private Bank
paul.s.barrettpipmorgan.com
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