To: Jeevacation[jeevacation@gmailcom]
From: Jeffrey M Matusow
Sent: Thur 7/1/2010 2:06:43 PM
Subject: Euro

The Euro is trading at 1.2450. It hasn't closed above 1.24 since late May. This is against a backdrop of 'risk off' - Dow down, S+P down, Europe markets down - 1%, CHF up, JPY up, poor US economic data etc. I think we should reinstate a short Euro position.

6 month cashless risk reversal
long 1.2225 euro put
short 1.2500 euro call that knocks in at 1.2750

Let me know.

Jeff

Jeffrey M. Matusow

JPMorgan Private Bank | 40 West 57th Street, 33rd Floor, New York, NY 10019

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