EFTA02407781.pdf

To: Jeevacationijeevacation mail.comj Cc: Jeffrey M Matu From: Paul S Barrett Sent Fri 8/13/2010 2:49:20 PM Subject RE: Wheat Jeffrey Please call in. We have a swaption expiring at 11am. I think we should cash settle and reduce our 30yr swap exposure. If we don't hear from you we will take physical delivery of the swap and then we can unwind it later. The new QE2 from the Fed changes the game on rates and I think it is going to take a longer time for long rates to sell off. Paul Paul Barrett, CFA Managing Director Global Investment Opportunities Group JPMorgan Private Bank 40W 57th Street, 33rd Floor, New York, NY 10019 From: Jeevacation [mailto:[email protected]] Sent: Monday, August 09, 2010 11:17 AM To: Paul S Barrett Subject: Re: Wheat This week Sent from my iPhonc EFTA_RLO1467306 EFTA02407781 On Aug 9, 2010, at 1 I :08 AM, Paul S Barrett wrote: Hi Jeffrey Tried calling your 212 number. Jeff M mentioned you may have some interest in wheat. Let me know if you need anything. We bought some 600 puts on the Dec10 contract last week. Paid 2.90%. Implied vol around 44%. Paul Paul Barrett, CFA Managing Director Global Investment Opportunities Group 1PMorgan Private Bank 40W 57th Street, 33rd Floor, New York, NY 10019 This email is confidential and subject to important disclaimers and conditions including on offers for the purchase or sale of securities, accuracy and completeness of information, viruses, confidentiality, legal privilege, and legal entity disclaimers, available at littpl/wwwjmnorgan.comipagesidisclosuresiemail. EFTA_R1_01467307 EFTA02407782