EFTA01461215

From: Sent: To: Subject: Attachments Vahe Stepanian 12/5/2013 2:56:00 PM Paul Morris Re: GBP + AAPL (C) pic23240.gif; pic27119.gif Classification: Confidential Sent, safe travels. From: To: Cc: Date: Subject: Paul Morris/db/dbcom Vahe Stepanian/db/dbcom0DBAmericas, Tazia Smith/db/dbcom@DBAmERICAs 12/05/2013 01:36 PM Re: GBP + AAPL [C] Classification: Confidential I'm traveling send out if feel good about it thx Original Message From: vahe stepanian sent: 12/05/2013 01:00 PM EST To: Paul Morris cc: Tazia smith Subject: Fw: GBP + AAPL [C] classification: confidential Paul - would like to send 7E the below as a follow up to Tuesday. If he wants to write calls vs. AAP1, think now is an opportune time. Let me know what you think Thanks, vahe Good Afternoon Jeffrey - following up Tuesday's email (included below): 1) WSJ has reported that AAPL has signed a deal w/China mobile, providing it a boost in the world's largest mobile market. Shares have reacted, reaching a new 52 wk. high @ —5572 (vs. 5565.00 close yesterday) on the back of the report. Consider selling Jan 595 or 600 Calls (currently $12.20 and $10.70 bid, respectively). 2) we believe the GBP trade is still relevant ahead of payrolls tomorrow. ADP came in ahead of street expectations yesterday (215k vs. 170k expected; revised October +54k), and street is calling for headline number of +185k tomorrow morning. GBP is currently —1.6350 (vs. uS0), but is bouncing around today and we'd look to enter trade on additional GBP strength. Thank you, vahe Forwarded by vahe Stepanian/db/dbcom on 12/05/2013 08:50 AM CONFIDENTIAL - PURSUANT TO FED. R. GRIM. P. 6(e) DB-SDNY-0 123107 CONFIDENTIAL SDNY_GM_00269291 EFTA01461215