EFTA02703140.pdf

From: Richard Kahn Sent: Wednesday, April 27, 2016 6:55 PM To: Jeffrey E. Subject: Fwd: AAPL trade idea from Merrill Lynch Attachments: AAPL_Cash_secured_put_042716.pdf; Untitled attachment 00013.htm; Scanned from a Xerox multifunction device.pdf, Untitled attachment 00016.htm Richard Kahn HBRK Associates Inc. 575 Lexington =venue 4th Floor New York, NY 10022 Begin forwarded message: From: =/b>"Pollard, James 5" Subject: =/b>AAPL Date: =/b>April 27, 2016 at 1:47:12 PM =DT To: =/b>"Richard Kahn Cc: "Minsk Julie" , "Darrah, John W - NEW YORK NY" =1 Rich, I know Julie mentioned you may be interested in APPL. It'= taken a decent hit today after the disappointing earnings =nnouncement. Our Listed =ptions Team came out with a trade idea on AAPL for a cash secured =ut, details are in the PDF. This was put out earlier today when AAPL =as trading lower and the July $95 strike put was trading at $3.15. =nbsp;With AAPL now trading higher at $97.88 we're looking at the July 15 $97.50 put =hich is trading at $3.80/$3.90. We can also go long =APL on top of selling the put by buying the July 15, 2016 $97.50 call, =/A is currently $3.85/$3.95 so you would essentially be out of pocket =or nothing to gain the exposure. EFTA_R1_02078332 EFTA02703140  We'll need to =ake the account margin in order to do this, we'll need both you =nd Darren to sign the attached form to make the account margin =ligible. If you're going to intro the trade to the principal =lease sure he's aware we'll need to get the form approved before we can trade. Best, Jim James S. Pollard Registered Analyst Team Darrah I Merrill Lynch Wealth Management The Park Avenue Office 200 Park Avenue I 34th Floor I New York I New York 10166 Team Darrah Website The information set forth herein was from sources, which =e believe reliable but we do not guarantee its accuracy neither the information nor an opinion expressed constitutes a =olicitation by us of the purchase or sale of any securities or =ommodities. The market information contained =erein, including, but not limited to, prices, quotes, and statistics, =as been obtained from sources that we believe to be reliable, but we do =ot offer any guarantees as to its accuracy or completeness. Past performance is no guarantee of =uture results. All information is subject to change without notice. =either the information nor any opinion expressed constitutes a =olicitation for the purchase or sale of any security or other instrument. Merrill Lynch considers your trade confirmations =nd monthly statements to be the official documentation of all =ransactions. Bank of America Corporation (Bank =f America) is a financial holding company that, through its =ubsidiaries and affiliate companies, provides banking and nonbanking =inancial services. Merrill =ynch, Pierce, Fenner & Smith Incorporated is a registered =roker-dealer, member of SIPC, and wholly owned subsidiary of Bank of America Corporation. 2 EFTA_R1_02078333 EFTA02703141  Investment products: Are =ot FDIC Insured Are =ot Bank Guaranteed May =ose Value ©200= Merrill Lynch, Pierce, Fenner & Smith Incorporated. All rights =eserved. Member =ecurities Investor Protection Corporation (SIPC). This message, and any attachments, is for the intended =ecipient(s) only, may contain information that is privileged, =onfidential and/or proprietary and subject to important terms and =onditions available at http://www.bankofamerica.com/emaildisclaimer. If you =re not the intended recipient, please delete this message. 3 EFTA_R1_02078334 EFTA02703142