From: Jeffrey Epstein <jeevacationggmail.com>

From: Jeffrey Epstein <jeevacationggmail.com> To: "Barrett, Paul S" < Subject: Re: Brent pricing Date: Tue, 01 May 2012 13:32:43 +0000 no benefit to do aug On Tue, May 1, 2012 at 9:30 AM, Barrett, Paul S < Jeffrey Why don't we do 125,000 barrels of each date. Spread it out a little. Bullish Brent risk reversals August 2012 contract (11Jul2012 expiry) 118.30 reference 1) client buys 140 call 2) client sells 100 put Net premium: client receives $0.05/bbl September 2012 contract (13Aug2012 expiry) 117.85 reference 1) client buys 140 call 2) client sells 100 put Net premium: client receives $0.29/bbl Paul Barrett, CFA Managing Director Global Investment Opportunities Group > wrote: EFTA00933707 7PMorgan Private Bank paul.s.barrett(Opmorgan.com This email is confidential and subject to important disclaimers and conditions including on offers for the purchase or sale of securities, accuracy and completeness of information, viruses, confidentiality, legal privilege, and legal entity disclaimers, available at http://www.jpmo an.com/pages/disclosures/email. 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 Jeffrey Epstein 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 EFTA00933708