Epstein Secrets

reasuries & SPX - -06- -08- M-13 Dee.13 Tes-14 Od-14 Taar-15 Aug-15 Jan-16 Juri-16 3m relise ly restée • 6m 61y in'Oed 15% 14% 12% Tele I: Analys expeacbansitle suptiscson ILS cm. Weil errants Mile eere is I ttk rab pricedinin the epdonmeket vs lise:tical eanings moues Ex pected Option Pat 4

O WWI Octineseatt I:J*4406w ISJU-Sh,WWIll Europe: Cheap upside in laggard stocks with bearish positioning Buy Oct16 - 110%F calls on VIE FP STAN LN Al FP ISE SQ and MUV2 GY for an average price of 2.37% (ref C19.39 C96.03 C6.02 £6.087 and f148.7 respectively): • The 5 names screen as the most attra

short open interest is high vs. other stocks in our list, suggesting the stocks may outperform in a potential market squeeze higher. • Air Uquide (Al FP) screens inexpensive in our earnings implied move ranking (table in next section) • Light exotic implementation: Oct16 110%F call on an equally wt

BofA Analytics = DATA DRIVEN = Global Equity Derivatives Rsch MLPI F&S Anshul Gupta >> Equi MLI Nitin Saksena Equi MLP Willi Equi ‘y-Linked Analys UK) y-Linked Analys F&S am Chan, CFA >> y-Linked Analys Merrill Lynch (Hong Kong) Abhi Equi MLI Benj Equi MLP nandan Deb >> ‘y-Linked Analys UK

30 Dec-16 call spread Buy GLD 116/124/130 Dec-16 call spread collar Buy TLT 123/132/137 Dec-16 call spread collar Buy Oct16 110%f calls on VIE FP, Al FP, IBE SQ, STAN LN 18-Jul- and MUV2 GY Buy an Oct16 110%F call on an equally weighted basket {quanto EUR) Buy 0.895x V2X Oct 21 puts, sell 1x VIX Oc

over the last 1M. Moreover, the average festul Guna ss payoff of being long SXEP 3M 25d calls would have been >2x greater than USO 3M 25d Equi elated Analys calls (owing to more frequent positive returns), when sized for the same upfront cost. LSS clea aa i Abhinandan Deb >> Asia Eauity-Linked Ana ysl Own

future, short V2X Jan-17 future Buy a 6M ATM worst-of call on XLP & GLD Buy a 6M ATM worstof {SPX put, GLD call} Buy Oct16 110%f calls on VIE FP, Al FP, IBE SQ, STAN LN and MUV2 GY Buy an Oct16 110%F call on an equally weighted basket (quanto EUR) Buy TLS 25-Aug16 95% puts Buy CSL 25-Aug-16 95% pu