EFTA01363038.pdf

DISCIPLINED INVESTMENT MANAGEMENT PROCESS NO DIRECTION BIAS, DIVERSIFIED POSITIONS, RISK FOCUSED CONTAINED RISK STAGGERED ENTRY ACTIVE MANAGEMENT Sell options to generate Seek to reduce sensitivity of Attempt to reduce drawdowns and premium; simultaneously returns to path of the underlying the volatility of returns by adjusting buy cheaper options to index by staggering positon entry positions to mitigate market contain and quantify risk and diversifying across expiration directional risk and reducing dates, and strike prices exposure to gap risk around market events 108 Exposure limited to the difference between the short call strike and long 115 1 call strike less premium received 105 110 a • I • A • A 105 1 • Benefits from a market • that is relatively range 100 bound 100 95 1 A • Maximum profit reakzed if • the index expires between 90 1 • • the short call and short put • • • 85 --r 93 week 1 week 2 week 3 Week 0 Week S Week 6 d e 4, oe; Exposure limited to the /toy ax" SPX • loN•CAI a Shat 0/1 A snort Put a Iona Put difference between the short put strike and long put strike less premium received 88 "All images for illustrative purposes only" HARVEST VOLAMII MANACEMV: CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0052879 CONFIDENTIAL SDNY_GM_00199063 EFTA01363038