From: Paul S Barrett To: Jeffrey Epstein <jeevacation@gmail.com> Subject: RE: Oil Date: Thu, 09 Dec 2010 16:52:25 +0000 Done at $48,000 I think we work an order at 85 to initiate a new risk reversal to replace this. Paul Barrett, CFA Managing Director Global Investment Opportunities Group JPMorgan Private Bank From: Jeffrey Epstein [maitto:jeeyacation@gmall.com] Sent: Thursday, December 09, 2010 11:40 AM To: Paul 5 Barrett Subject: Re: Oil sell On Thu, Dec 9, 2010 at 11:34 AM, Paul S Barrett < wrote: oil option now bid at 545.000 Paul Barrett, CFA Managing Director Global Investment Opportunities Group 1DMnromn [snit/m.1-m Dent From: Jeffrey Epstein [mailto:jeevacation®gmail.com] Sent: Thursday, December 09, 2010 11:31 AM To: Paul S Barrett Subject: Re: Oil should i have watched mysetill this is ridiculous On Thu, Dec 9, 2010 at 11:30 AM, Paul S Barrett < $30,000 — $119,000 Paul Barrett, CFA Managing Director Global Investment Opportunities Group wrote: EFTA00710824 From: Jeffrey Epstein [mailtojeevacation® ail com Sent: Thursday, December 09, 2010 11:27 AM To: Paul S Barrett Subject: Re: Oil no the range of the calls On Thu, Dec 9, 2010 at 11:25 AM, Paul S Barrett < wrote: 90.85 on the 7th of Dec Range has been 80 - 90.85 over the past 30days Paul Barrett, CFA Managing Director Global Investment Opportunities Group From: Jeffrey Epstein [mailto:jeevacation®gmail.com] Sent: Thursday, December 09, 2010 11:23 AM To: Paul S Barrett Subject: Re: Oil how high did it get in the past two weeks„ On Thu, Dec 9, 2010 at 11:06 AM, Paul S Barrett < wrote: We can sell the 90 oil call that expires next week for 30,000. Was cashless upfront. New risk reversal would be: Aug2011 contract 100 Call 81.25 Put Or 105 Call 77.25 Put Both cashless I like the 1st strategy Paul Barrett, CFA EFTA00710825 Managing Director Global Investment Opportunities Group JPMor•an Private Bank 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 hup://wwwjpmorgan.corn/pages/disclosures/email. 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 Jeffrey Epstein 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 jeevacation@gmail.com, and destroy this communication and all copies thereof, including all attachments. 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 hup://wwwjpmorgan.corn/pages/disclosures/email. 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 Jeffrey Epstein 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 jeevacation@gmail.com, and destroy this communication and all copies thereof, including all attachments. 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 hup://wwwjpmorgan.corn/pages/disclosures/email. EFTA00710826 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 Jeffrey Epstein 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 jeevacation@gmail.com, and destroy this communication and all copies thereof, including all attachments. 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 http:f/www.jpmorgan.comlpages/disclosures/email. 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 Jeffrey Epstein 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 jeevacation@gmail.com, and destroy this communication and all copies thereof, including all attachments. 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 http://www.jpmorgan.corn/pages/disclosures/email. EFTA00710827