EFTA01384917.pdf

Per your request please find below the details from the trader: Underlying Spots .HSCE 9,822.72 N225 19.749.28 .SPX 2,088.14 STOXX.50E 3,379.00 33.59 Realized dispersion: -9.9r4 (using above spot references) Indicative bid: 0.60% Best, Ari From: Vahe Stepanian Sent: Monday, December 07, 2015 8:56 AM To: Richard Kahn Cc: Daniel Sabba; Ariane Dwyer; Paul Morris; Stewart Oldfield Subject: RE: Dispersion Call Option [C] Classification: Confidential Good morning Rich - yes, I will request from traders and be back to you. Thank you, Vahe From: Richard Kahn [mailto.r. u Sent: Monday, December 07, 2015 8:52 AM To: Vahe Stepanian Cc: Daniel Sabba; Ariane Dwyer; Paul Morris; Stewart Oldfield Subject: Re: Dispersion Call Option [C] Can you please have traders provide me with a bid I can present to mr Epstein. Thank you. Sent from my iPhone On Dec 4, 2015, at 1:56 PM, Vahe Stepanian csrlgestegaisirLeeilreers> wrote: Classification: Confidential One more point worth mentioning — the realized dispersion when we spoke on Wednesday was - 9.95%. This decline from 9.95% to 9.41% would also affect the indicative bid of the option. From: Vahe Stepanian Sent: Friday, December 04, 2015 1:09 PM To: Richard Kahn Cc: Daniel Sabba; Ariane Dwyer; Paul Morris; Stewart Oldfield Subject: Dispersion Call Option [C] CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0085510 CONFIDENTIAL SDNY_GM_00231694 EFTA01384917