EFTA Document EFTA01387018

From: Sent: To: CC: Subject: Martin Zeman 10/10/2017 9:30:57 AM Paul Barrett Davide-A Sferrazza I; Vahe Stepanian Stewart Oldfield Its very hot - SEK Correlation Ideas Xavier Avlla ; Joshua Shoshan Good morning Paul, I know we can't trade options just yet, but we're looking at some bullish SEK ideas this morning, thought I'd share with you based on George Saravelos' research piece. Here are some of our preferred bullish-SEK expressions in the Correlation space. Spot Refs: 1.1790, 8.0775, 1.3190 1) USDSEK Digital Puts w/ EURUSD DKO's 3m USDSEK 7.80 Digital Put w/ EURUSD DKO 1.14-1.22 6.S% offer 3m USDSEK 7.80 Digital Put w/ EURUSD DKO 1.13-1.23 9.3% offer 3m USDSEK 7.90 Digital Put w/ EURUSD DKO 1.14-1.22 11% offer USDSEK 7.80 Digital outright would be 23% offered. USDSEK 7.90 Digital outright would be 34.5% offered. 2) GBPUSD Lower, USDSEK Lower Dual Digitals 3m Dual Digital GBPUSD < 1.30 USDSEK < 7.90 6% offer Individuals: 33%, 34.5% 3m Dual Digital GBPUSD < 1.30 USDSEK < 8.0 8.75% offer Individuals: 33%, 47.5% And a full Dual Digital Grid ... CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0089026 CONFIDENTIAL SDNY_GM_00235210 EFTA01387018