Epstein Secrets

May 3, 2017 at 9:51:09 AM EDT To: Richard Kahn Rich, the AAPL May 19th $150 calls are trading at 0.25

or use of the contents thereof are prohibited. There may be more recent information available. Please visit one of the electronic venues that carry BofA Merrill Lynch Global Research reports or contact your Bank of America Merrill Lynch representative for further information. tank of America Merrill Lynch" is the marketing name

nda' Date: July 12, 2017 at 8=56:37 AM EDT To: "Rich Kahn" Subject: AAPL US: App=e Inc.: Estimate Cha

or use of the contents thereof are=prohibited. There may be more recent information available. Please visit on= of the electronic venues that carry BofA Merrill Lynch Global Research rep=rts or contact your Bank of America Merrill Lynch representative for furthe= information. "Bank of America Merrill Lynch" is the marketing name

ader equity market (1st chart) * * U=O puts are rich vs. SXEP calls: The number of long SXEP 25d calls

ation in governi=g the severity of potential risk parity unwinds. Consequently, risk parity portfolio volatility remained quite =uted </=> Source: BofA Merrill Lynch Global Research. Daily data from=4-Jan-16 through 5-Aug-16. <=> Source: BofA Merrill Lynch Global Research. Equity, fixed i=come, and commodity components within th

dated Edison ED Chin,Brian A3-7 UNDERPERFORM 74.07 59.00 20,526.00 TripAdvisor TRIP — Schindler,Nat C-3-9 UNDERPERFORM 46.95 41.00 9,071.00 Source: BofA Merrill Lynch Global Research BofA Merrill Lynch does and seeks to do business with issuers covered in its research reports. As a result, investors should be aware that the firm

ge cap US oils. We view Hess as the most catalyst rich large cap US E&P for 2017 with a return to growth

) Ahead ZG Revenue 239 236 Ww Revenue $944 $933 EPS 0.06 0.05 Ahead EPS ($0.49) ($0.60) Ahead YELP Revenue $201 $198 EPS $0.18 $0.16 Ahead Source: BofA Merrill Lynch Global Research, Bloomberg, as of 4/4/2017 Bankof America Merrill Lynch Internet/e-Commerce | 06 April 2017 HOUSE_OVERSIGHT_014889 --- PAGE BREAK --- Our 2017

rrill Lynch Hardline Retail team called “a little rich,” though it is difficult to tell if weak trends a

eek advice rega ents discussed in this report. ‘A Merrill Lynch Global Research, may have issued and may in the future issue trad

la variance as investors can avoid paying for the rich HSCEI convexity below the 70% barrier. The trade

*S&P ex. Fins. & Real Estate cash is as a % of total S&P 500 market cap Source: Bloomberg, FactSet, BofA Merrill Lynch US Equity & US Quant Strategy, BofA Merrill Lynch Global Research Repatriation in context: a look back at 2004 The last repatriation holiday in the US was the Homeland Investment Act (HIA) of 2004 (part of the Ame

r the last few years, and, if we exclude the cash-rich Technology sector, leverage is approaching all-t

via bullish X-market risk reversals Steet Selling rich USO (WTI tracker) 3M 25d puts to fund cheaper SXE

uvFeg n eaeEeoe > co uu eggs = Oo oy oo a0 #0 => vo cs - ow 2 wv a) = ro) = £ = Ss = ox £€Oo 2 Oo ow Ye g 2 Qw = 2 ef Ss £ = ==ts6~ S> = C& Source: BofA Merrill Lynch Global Research. *Latest as of 05-Aug-16 Chart 2: Change** in stress across GFSI sub-components. The biggest moves were declines in stress; led by credit. Notably s