From: Paul Barrett Sent: Thursday, Fe ri.w ./111PI : 4 ls.• 1 1 To: jeffrey E. Subject: RE: Re: This is my recommendation to play it: Vol skew blowing out again Sell April 9% out of the money puts Buy April 3.5% out of the money calls Cashless 52% delta combined Put strike takes us down to —2400 on the SP500. That gets us to 15.3x PIE based on next 12 month earnings expectations. Paul Barrett Alpha Group Capital LIC 1 EFTA_R1_01672155 EFTA02529791

From: jeffrey E. [mailto:[email protected]] Sent: Thursday, February 08, 2018 1:55 PM To: Paul Barrett <[email protected]> Subject: Re: this could be a classic bottom. lets see On Thu, Feb 8, 2018 at 1:14 PM, Paul Barr wrote: You called it! Paul Barrett Alpha Group Capital LLC On Feb 8, 2018, at 12:15 PM, jeffrey E. <[email protected] <mailto:[email protected]> wrote: thats why waiting until thurs was importnat. need to see how this breaks up or down 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, 2 EFTA_R1_01672156 EFTA02529792

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 3 EFTA_R1_01672157 EFTA02529793