EFTA02560695.pdf

From: Paul Barrett Sent: Monday, June 25, 2018 6:20 PM To: Jeffrey E. Subject: RE: New Idea for your approval OK Paul Barrett Alpha Group Capital LLC 142 W 57th Street, 11th Floor, New York, NY 10019 From: jeffrey E. <[email protected]> Sent: Monday, June 25, 2018 2:19 PM To: Paul Barrett Subject: Re: New Idea for your approval yes On Mon, Jun 25, 2018 at 8:07 PM, Paul Barrett > wrote: OK with $50K premium on each? Paul Barrett Alpha Group Capital LLC EFTA_R1_01721796 EFTA02560695  142 W 57 <https://maps.google.com/?q=142+W+57&entry=gmail&source=g> th Street, 11th Floor, New York, NY 10019 From: jeffrey E. <[email protected] <mailto:[email protected]» Sent: Monday, June 25, 2018 1:56 PM To: Paul Barrett Cc: Richard Kahn Subject: Re: New Idea for your approval and take small postions for the spy . s On Mon, Jun 25, 2018 at 7:49 PM, Paul Barrett CI wrote: Jeffrey, New Trade Idea: SPX down 1.50% today on tariff fears. I recommend buying a position in each of the following: • Jul 280 SPY calls for $0.40 • Aug 280 SPY calls for $1.44 • Implied vol at 10%. • Tariff related sell-offs have offered good trading opportunities. The risk around retaliation is growing but if we can buy these calls with a 10% implied vol, I think these could work very well at the first sign of any reconciliatory comments from Washington. I would look to trade out of these if we get a bounce back to 2750 on SPX this week. If we don't get the bounce by Friday I would sell. Also to further clean up the portfolio I would recommend the following over the coming days: 2 EFTA_R1_01721797 EFTA02560696  1. Sell BUD. It is a small position with too much reliance on EM to make a meaningful impact right now. 2. Sell BAC. Also a very small position. Would rather re-allocate to KRE (regional bank exposure). 3. MSFT, AVGO and Equinix — part of the data center theme. I think this theme has legs but MSFT and EQIX positions too small. Sell those. 4. JD.Com - sell if it drops below $38. It is the Amazon of China. However it cannot seem to break higher due to margin concerns. Currently at $39.43. Paul Paul Barrett Alpha Group Capital LLC 142 W 57 <https://maps.google.com/?q=142+W+57&entry=gmail&source=g> th Street, 11th Floor, New York, NY 10019 please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected] <mailto:[email protected]> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved 3 EFTA_R1_01721798 EFTA02560697  please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of _WE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected] <mailto:[email protected]> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved 4 EFTA_R1_01721799 EFTA02560698