From: Barrett, Paul S Sent: Monday, August 1, 2011 4:05 PM To: Epstein, Jeffrey (jeevacation@gmail.com) Cc: Ens, Amanda Subject: WTI options with knock ins Jeffrey To buy $190/bbl Puts that knock in at $1=0/bbl: Dec11 $=.65 Jan12 $0.67<=:p> Feb12 $0.70 Paul</=:p> =o:p> <= class=MsoNormal>Paul Barrett, CFA =span style=lont-size:10.5ptfont-family:Consolas;color:e1F497D5Manag=ng Director Global Investment Opportu=ities Group JPMorgan Private Bank 40W 57th Street, 33rd Floor, New York, NY=10019 EFTA_R1_01433727 EFTA02399006 Amanda Ens =/p> J.P.Morgan I Global Investment Opportunities G=oup 40 W 57th Street, 33rd Floor, New =ork, NY 10019 <=> This email=is confidential and subject to important disclaimers and conditions includ=ng on offers for the purchase or sale of securities, accuracy and complete=ess of information, viruses, confidentiality, legal privilege, and legal e=tity disclaimers, available at http://www.jpmorgan.com/pages/disclosur=s/email. 2 EFTA_R1_01433728 EFTA02399007