EFTA02601757.pdf

From: jeffrey E. <[email protected]> Sent: Thursday, July 12, 2018 10:51 AM To: Paul Barrett; Richard Kahn 3. I am still long the August 280 SPY call. It was also a small $50K position. We paid $1.55 for the options. It closed yesterday at $1.92. Time decay will start to hurt and I plan to unwind next week. I expect equity inflows to continue next week and will use any market strength to unwi=d (targeting $3.00). SPY 280 call= at $3.05 (we paid $1.55). The SP500 is bumping up against 2800 which has been a big resistance level this year. If it breaks above 2800 I think we could test 2840 in short order. So I am looking at the following: • Sell 350 contracts of the Aug 280 SPY calls for $3.05 ` Buy 350 contracts of the Aug 284 SPY calls for $1.27<=> • Take $1.78 off the table and be well positioned if we =reak above 2800. Are you OK if I decide to do that as opposed to just=taking profits? Not yet. With =onald in Europe this week I thought we would get a week free of tariff thr=ats and a market rally into Friday earnings. Futures down 50bps. Bou=ced off the overnight lows. Will keep you posted. At $2.30. Market rolling over. please notear> The information contained in this communication is confidential,=may be attorney-client privileged, may constitute inside information, a=d is intended only for the use of the addressee. It is the property ofar>JEE Unauthorized use, disclosure or copying of this communication =r any part thereof is strictly prohibited and may be unlawful. If you h=ve received this communication in error, please notify us immediately b= return e-mail or by e-mail to [email protected] <mailto:[email protected]> , and destroy this communica=ion and all copies thereof, including all attachments. copyright -all r=ghts reserved --000000000000ef8d570570cb2210-- conversation-id 312296 date-last-viewed 0 date-received 1531392650 flags 8590195713 gmail-label-ids 7 remote-id 835999 EFTA_R1_01789662 EFTA02601757