Epstein Secrets

rch. Daily data from 2-Jun-09 to 5-Aug-16. Source: BofA Merrill=Lynch Global Research. Data from Nov-28 to Aug-16. US Equity Derivatives Research I BofA Merrill Lynch I Merrill Lynch, Pierce, Fenner &=Smith Incorporated I +1 646-855- 5480 I +1 646-855-5478 I +1 646-855-1247 I +1 646-855-2631 I dg.rsch_americas_equi

seasonal oil dip via bullish X-market risk reversals Lev=red X-market risk reversal: Sell lx USO 3M 25d (- 88% strike) puts to fully=fund 2.1x SXEP (Oil & Gas equity) 25d (- 106% strike) calls (indic.)=/u> • * T=e seasonal sell-off in oil presents a 'buy the dip' opport=nity according to our commodity st

search Daily data from 5-Aug-11 to 5- kg 16 ...which is notably very close to the typical SPX daily realized move post-elections since 1928 Source BofA Merrill Lynch Global Researdi Daly data from 2-Jun-09 to S. Source Da Merril Lynch Global Research. Data from Nov-28 to Aug-I6 Aug-16 EFTA_R1_00024954 EFTA0173

seasonal oil dip via bullish X-market risk reversals Levered X-market risk reversal: Sell 1x USO 3M 25d (-88% strike) puts to fully fund 2.1x SXEP (Oil & Gas equity) 25d (-106% strike) calls (indic.) • The seasonal sell-off in oil presents a 'buy the dip' opportunity according to our Kts who expect pric

er day of production and the world’s Ath largest gas reserves, Saudi Aramco is the leader in hydrocarbon access among state owned, private and public Oil & Gas (O&G) companies alike. Saudi Aramco is the world’s largest Oil & Gas Company by production and arguably the Kingdom’s most important asset. Specifica

bject to change without notice. Prices also are subject to change without notice. BofA Merrill Lynch is under no obligation to update this report and BofA Merrill Lynch's ability to publish research on the subject issuer(s) in the future is subject to applicable quiet periods. You should therefore assume that BofA Merr