of its recent historical ran e, hence the low premium 18.0000 16.0000 14.0000 12.0000 10.0000 8.0000 ‘1,1,10,110 4.0000 BR015OV1M Cumcy (BAt-USO Cr a 1N) Daily 04.111N2009-03XIC014 Copyright0 2014 elamberg CI naive L.P. 03-3un-2014 13:29:V Trade 2: Buy a 3-month European style 1.03% OTMspot E