From: Tazia Smith <I

From: Tazia Smith <I To: [email protected] Cc: Paul Morris , Vinit Sahni Vahe Ste anian , Nav Gupta Subject: American Airlines to re-test $38... [C] Date: Tue, 01 Apr 2014 14:32:54 +0000 Attachments: AAL_Options_4.1.14_10.20amsnl Inline-Images: unnamed; unnamed(1); unnamed(2) Classification: Confidential Jeffrey - You're currently up $995mm (net) on your American Airlines January $20 Risk Reversal. That's just based on current bid/offer ( as you see, market is wide, would get done better). Jan 20 call —16.60/18.10 Jan 20 put —0.35/0.65 Spreadsheet attached. Indicative levels only, subject to market movement. source Bloomberg. Recall, your cost basis is $6.05 (+8.03 on the call, -1.98 on the put) AAL 6mo Price History AAL US S At 10:14 AAL US E uit 12/09/2013 1D 37.25 +.65 Vol 2,244,976 0 36.95Q 95) Save As 1Y 5Y Max Daily • + Track z Ahnotata. 04/01/2014 3D 1FI 1 ifiN YID Last Price 997aRMS Q37.26 /37.28Q 1 x 6 - - H 37.60K 11) Compare I4ov. kegs • Last Price 37.25 T High on 03/07/14 39.02 -9- Average 32.381 1. Low on 12/09/13 24.60 Line News MEI Security/Stuffy Line Chart Volume O,Zoom ri USD 19 Event O 1'40.00 p.-20 An 4-36.00 0-34.00 4-32.00 --30.00 4-28.00 4-26.00 4-24.00 4011 •Volume 2.245M L • SNAVG 05.) 7.967M 20M Dec 13 Dec 31 Jan 15 Jan 31 Feb 14 Feb 28 Mar 14 Mar 31 2013 2014 EFTA00689125 Tazia Smith Director i Key Client Partners - US DB Securities Inc Deutsche Asset & Wealth Management 345 Park Avenue 10154-0004 New York. NY. USA Pan-in.-1r Pei-ft:rent This communication may contain confidential and/or privileged information. If you are not the intended recipient (or have received this communication in error) please notify the sender immediately and destroy this communication. Any unauthorized copying, disclosure or distribution of the material in this communication is strictly forbidden. Deutsche Bank does not render legal or tax advice, and the information contained in this communication should not be regarded as such. EFTA00689126