EFTA01388423.pdf

structure is flat. We've continued to see the spot up / vol up correlation remain positive and if this theme continues, now is a good entry level into buying inexpensive vol. SPY ATM Calls: SPY 281Csa vt 28130 Pak* Tenor $ I % I Vol I Intyr-Perlod trod VS tenon* Pales I Cumulative Wrings hymned IN Friday, August 1a.2018 140 049% 9.5 I51440oth).10P,I4FP, FCMC 040sicin 61% Friday august 10, 2118 :. 96 069% 92 89 PPI. CPI 641% Friday. Ausg 17.2116 2.47 087% 9.1 43 70% Friday. Au ug 24, 3218 250 102% 9.2 91 FO#.0 mr 144 72% Friday, Atiftra 31. IDa 318 111% 93 104 PC1 Mk Fray, Statambar (7, 2018 3.75 :..32% 9.6 105 ISM (berry, 40P, NFP 75% SPY 2% Upside Calls: SPY 283Cil yr. 21030 PrIco Tea st, va Inter-Parlod Fan Vol Icon°Yak Evert Carnal adv• EanYra/s Repcnial 198 Friday, August 01 Es 019 020% 81 ISM tbot/0, Allf,NFP, FOAIC Decision 6BS Friday. /taint 11 2018 047 0.37% 8: 1114 PPI. CPI 601 Friday. August 17, 2018 076 051% SO t4 704 FACI4V. Atiltntbl, 2018 :.05 065% 80 8.7 refit mins (A.41 72% Friday, Auspaz 11 2011 :39 0.80% 82 16 PCS 74% Friday. Sestamber 07, 2018 :69 092% 94 to 1 ISM (bath), ACO,NFP 75% Kind regards, Nadean Nadean Novogratz Deutsche Bark Securities Inc. Global Equity Derivative Sales 60 Wall Street. 4th Floor New York. NY 10005 Tel. Cell Email Please click on this link and read the disclaimer: https://ederivatives.db.comistatic/disclaimer.html This communication may contain confidential and/or privileged information. If you are not the intended recipient (or have received this communication in error) please notify the sender immediately and destroy this communication. Any unauthorized copying, disclosure or distribution of the material in this communication is strictly forbidden. Please refer to https://db.com/disclosures for additional EU corporate and regulatory disclosures. Deutsche Bank does not render legal or tax advice, and the information contained in this communication should not be regarded as such. This communication may contain confidential and/or privileged information. If you are not the intended recipient (or have received this communication in error) please notify the sender immediately and destroy this communication. Any unauthorized copying, disclosure or distribution of the material in this communication is strictly forbidden. CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) DB-SDNY-0091964 CONFIDENTIAL SDNY_GM_00238148 EFTA01388423