From: J <[email protected]>

From: J <[email protected]> To: Paul Barrett Subject: Re: Follow up Date: Thu, 07 Feb 2019 17:05:58 +0000 Inline-Images: image004.jpg; image002.png I wish you luck . Im very sorry On Thu, Feb 7, 2019 at 12:23 PM Paul Barrett < > wrote: Hi Jeffrey, As Rich mentioned to you I am removing myself from the relationship and de-linking Alpha Group from all of your accounts. You have not responded to any of my proposals that I have sent over the past 5 months and it makes no sense to continue to work together with this uncertainty. I am sorry things did not work out. On a separate note if you want to short the market over the next month: I. Buy March 2019 25 strike VIX calls a. Cost 50c b. March VIX futures are currently at 17.15 (got as high as 26 back in December) c. If we get a vol spike in the next 3-4 weeks I would think these are worth —$2.00 2. Buy SP500 puts. Vol has come down making this a pretty clean way of expressing the view. a. Buy March 2019 2600 SPX Put for $20. This is 4% out of the money OR b. Buy March 2019 2700-2550 Put spread for $34. Max payout is $150. 3. Sell covered calls on some of your single stock positions as single stock vol in your names remains elevated. Generic 1 month VIX Contract EFTA01029198 Paul Barrett Alpha Group Capital LLC 142 W 57th Street, 11th Floor, New York, NY 10019 EFTA01029199 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 EFTA01029200