From: Paul Barret Sent: Friday, September 22, 2017 1:18 PM To: Jeffrey Epstein Cc: Richard Kahn Subject: Into year end Jeffrey We do not have enough equity exposure into year end but I am also very wear= of putting a lot of money to work with the SP500 up here. I am going to b=y some large notional SPX calls (take advantage of the cheap vol). This wa= we are covered if the market melts up into year end and have plenty of dr= powder if we get a selloff. Will probably spend $500-$750K in premium to control —$50mm notional. Paul Paul Barrett 646-342-6930=?xml version=.0" encoding=TF-8"?> <IDOCTYPE plist PUBLIC "-//Apple//DTD PLIST 1.0//EN" "http://www.apple.com/DTDs/PropertyList-1.0.dtd"> <plist version=.0"> <dict> <key>conversation-id</key> <integer>30457</integer> <key>date-last-viewed</key> <integer>0</integer> <key>date-received</key> <integer>1506086278</integer> <key>flags</key> <integer>8590195717</integer> <key>gmail-label-ids</key> <array> <integer>6</integer> <integer>2</integer> </array> <key>remote-id</key> <string>752284</string> </dict> </plist> EFTA_R1_01796016 EFTA02605507