EFTA01388422.pdf

From: Nadean Novogratz lU Sent: 9/21/2018 1:29:41 PM To: Paul Barrett I CC: Martin Zeman ; Stewart Oldfield j; Xavier Avila I ; Davide-A Sferrazza ; Devin Anderson [ Subject: RE: Follow-up Hi Paul, Thanks very much — if you have any questions about either documents, we're here to help. Kind regards, Nadean From: Paul Barrett [mailto Sent: Friday, September 21, 2018 11:35 AM To: Nadean Novogratz Cc: Martin Zeman; Stewart Oldfield; Xavier Avila; Davide-A Sferrazza; Devin Anderson Subject: RE: Follow-up Hi Nadean Apologies for the radio silence. Will get docs back asap. Paul Paul Barrett Alpha Group Capital LLC a ALPHA GROUP CAPITAL From: Nadean Novogratz < Sent: Thursday, Jul 26, 2018 5:01PM To: Paul Barrett < Cc: Martin Zeman < >; Stewart Oldfield < >; Xavier Avila >; Davide-A Sferrazza < >; Devin Anderson < Subject: Follow-up Hi Paul, Great to meet you over the phone today and discuss our derivatives offerings / market color. As mentioned, Southern Financial is fully onboarded to trade OTC equity derivatives here. We've reviewed our docs for listed options and just need 2 simple forms completed (attached). They are pretty straight forward but we're here to answer any questions on them that you have. Per Devin's comments on short-term upside, below are charts that compare Spy ATM vs 2% out of the money upside in the near-term experies. Vols are in the 8v range for the 2%OTM calls and as you can see for the next four weeks term CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0091963 CONFIDENTIAL SDNY_GM_00238147 EFTA01388422