From: Richard Kahn

From: Richard Kahn To: "Jeffrey E." <[email protected]> Subject: Re: apple Date: Wed, 29 Mar 2017 15:31:47 +0000 I just called Amanda and she said you spoke and put A trade in and would send details shortly. Is there any additional follow up you need. Please advise. Thank you. Richard Kahn HBRK Associates Inc. 575 Lexington Avenue, 4th Floor New York, NY 10022 On Mar 29, 2017, at 10:52 AM, jeffrey E. <[email protected]> wrote: i want a strike price of 150. and or 155. connect me to amanda with a coference asap On Wed, Mar 29, 2017 at 10:46 AM, Richard Kahn •c:a wrote: Not sure I agree about cheap. Richard Kahn HBRK Associates Inc. 575 Lexington Avenue, 4th Floor New York, NY 10022 Begin forwarded message: From: "Ens, Amanda" < Date: March 29, 2017 at 9:31:13 AM EDT To: Richard Kahn Subject: RE: apple Rich, Very good question. Equity options are typically priced on spot notional, not strike notional. So 1mm shares * 143.80 = $143,800,000 notional 18.85% = $27,106,300 premium EFTA00646085 Sounds like a lot but these are actually quite cheap. Regards, Amanda From: Richard Kahn Imailto: Sent: Wednesday, March 29, 2017 9:21 AM To: Ens, Amanda Subject: Re: apple Is 18.85 percent as follows: 1,000,000 x 150 = 150mm x 18.85 as cost for call option? Richard Kahn HBRK Associates Inc. 575 Lexington Avenue, 4th Floor New York, NY 10022 On Mar 29, 2017, at 9:05 AM, Ens, Amanda wrote: Rich, Please find indicative offers below. Southern Trust Company buys an AAPL call Expiry: May 17, 2019 Notional: 1mm shares EFTA00646086 $150 strike: 18.85% (53% delta) $175 strike: 10.50% (35% delta) Regards, Amanda Amanda Ens Director Bank of America Merrill Lynch Merrill Lynch, Pierce, Fenner & Smith Incorporated One Bryant Park, 5th Floor, New York, NY 10036 Phone <image003.jpg> From: Richard Kahn Imailto: Sent: Tuesday, March 28, 2017 7:16 PM To: Ens, Amanda Subject: apple jeffrey is interesting in price call option for lmm shares of apple expiring may 2019 please advise on pricing thank you Richard Kahn HBRK Associates Inc. EFTA00646087 575 Lexington Avenue, 4th Floor New York, NY 10022 This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at http://www.bankofamerica.com/emaildisclaimer. If you are not the intended recipient, please delete this message. This message, and any attachments, is for the intended recipient(s) only, may contain information that is privileged, confidential and/or proprietary and subject to important terms and conditions available at httplAvww.bankofamerica.com/emaildisclaimer. If you are not the intended recipient, please delete this message. please note The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by return e-mail or by e-mail to [email protected], and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved EFTA00646088