From: Paul 5 Barrett Sent: Thursday, December 9, 2010 4:06 PM To: Epstein, Jeffrey (eevacation@gmail.com) Subject: Oil We can sel= the 90 oil call that expires next week for 30,000. Was cashless u=front. =p class=MsoNormal> New risk reversal would be: Aug2011 contract</=:p> 100 Call =/P> Or 105 Call =7.25 Put <1=> Both cashless <=pan style=ifont-size:11.0pt;font-family:"Calibri","sans-serif">&=bsp; I like the 1st strategy Paul Barrett, CFA class=MsoNormal>Managing Director EFTA_R1_00110000 EFTA01786955 =span style=sfont-size:10.5ptfont-family:Consolas;color:#1F497D5Globa= Investment Opportunities Group =span style=lont-size:10.5pt;font-family:Consolas;color:#1F497051PMor=an Private Bank 40W 57th Street, 33rd=Floor, New York, NY 10019 (W) F) <= class=MsoNormal> This email is con=idential and subject to important disclaimers and conditions including on =ffers for the purchase or sale of securities, accuracy and completeness of=information, viruses, confidentiality, legal privilege, and legal entity d=sclaimers, available at http://www.jpmorgan.com/pages/disclosures/emai=. 2 EFTA_R1_00110001 EFTA01786956