To: Barrett. Paul Stia From: Jeffrey epstein Sent: Wed 1/5/2011 8:06:55 PM Subject: Re: Oil Idea I like it Sorry for all the typos .Sent from my iPhonc On Jan 5, 2011, at 2:51 PM, "Barrett, Paul S" < Jeffrey wrote: As a replacement for our oil risk reversal that came off what do you think of this: Bullish 3-Month WTI trade Option Expiry: 14Apr11 Buy a 92 x 99 WTI call-spread (7.5% max-return) Short a 92 WTI put, with Knock-In: 71 cashless Paul Paul Barrett, CFA Managing Director Global Investment Opportunities Group 1PMorgan Private Bank 40W 57th Street, 33rd Floor, New York, NY 10019 EFTA_R1_00210915 EFTA01832865 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://wwvv.jpmorgan.com/pages/disclosurcs/cmail. EFTA_R1_00210916 EFTA01832866