From: Paul Barrett Sent: Friday, March 2, 2018 4:47 PM To: jeffrey E. Subject: RE: Re: But that's the same thing as selling puts — leaves you with a very similar pay-out profile. Paul Barrett Alpha Group Capital LLC 142 W 57th Street, 11th Floor, New York, NY 10019 From: jeffrey E. [mailto:[email protected]] Sent: Friday, March 02, 2018 11:46 AM To: Paul Barrett <[email protected]> Subject: Re: Re: no, we might do covered calls. for ex. . On Fri, Mar 2, 2018 at 11:45 AM, Paul Barrett <[email protected] <mailto:[email protected]» wrote: You want to buy vol at these levels? Paul Barrett EFTA_R1_01649016 EFTA02514898

Alpha Group Capital LLC 142 W 57 <https://maps.google.com/?q=142+W+57&entry=gmail&source=g> th Street, 11th Floor, New York, NY 10019 646-876-5277 <tel:(646)%20876-5277> (o) 646-342-6930 <tel:(646)%20342-6930> (c) [email protected] <mailto:[email protected]> From: Jeffrey E. [mailto:[email protected] <mailto:[email protected]> ] Sent: Friday, March 02, 2018 11:44 AM To: Paul Barrett <[email protected] <mailto:[email protected]»; Richard Kahn <[email protected] <mailto:[email protected]» Subject: Re: i never like selling puts. it is a sucker play, limited upside with unlimited down. On Fri, Mar 2, 2018 at 11:42 AM, Paul Barrett <[email protected] <mailto:[email protected]» wrote: You have 2 mins? I am pricing: Buying 260/250 SPY put spreads 1/1.5x — cashless. Selling puts on Raytheon, GD, Lockheed and Northrop Paul Barrett 2 EFTA_R1_01649017 EFTA02514899

Alpha Group Capital LLC 142 W 57 <https://maps.google.com/?q=142+W+57&entry=gmail&source=g> th Street, 11th Floor, New York, NY 10019 646-876-5277 <tel:(646)%20876-5277> (o) 646-342-6930 <tel:(646)%20342-6930> (c) [email protected] <mailto:[email protected]> From: Jeffrey E. [mailto:[email protected] <mailto:[email protected]> ] Sent: Friday, March 02, 2018 11:39 AM To: Paul Barrett <[email protected] <mailto:[email protected]»; Richard Kahn <[email protected] <mailto:[email protected]» Subject: we should start looking at options market, premiums getting high please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected] <mailto:[email protected]> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved please note 3 EFTA_R1_01649018 EFTA02514900

The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected] <mailto:[email protected]> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected] <mailto:[email protected]> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved 4 EFTA_R1_01649019 EFTA02514901