<table><tr><th>From:</th><th>jeffrey E. &lt;jeevacation@gmail.com&gt;</th></tr><tr><td>Sent:</td><td>Wednesday, February 11, 2015 10:13 PM</td></tr><tr><td>To:</td><td>Daniel Sabba</td></tr><tr><td>Subject:</td><td>Re: Follow-up stock screen for Twitter-style trade (C]</td></tr></table>

can you tell me what the recoomendation on fcx was in oct =ov dec.

On Tue, Feb 10, 2015 at 8:32 PM, Daniel Sabba rote:

Classification: Confidential

Jeffrey,<=u>

Jay and=Vahe from my team put this together to follow-up on lower priced equities =or which we can implement the TWTR equity structure in either a liste= or OTC structure. To start, we screened the S&P 500 with the following=criteria:

- =A0 Share Price=/span> ($10-$20 range)<=/span>

- =A0 Market Cap<=span> (>$10bn)

	=AO Covered by =B Research

</=pan>

The following 5 nam=s fit the criteria:

</=pan>

## <=span>

(Note: Pricing as o= close 02/09/2015)

As demonstrated bel=w, all S names remained in a narrow band for the earlier part of 2014.

In the latter month= of the year, FCX, BAC and FITS saw a significant increase in implied vola=ility, most notably Freeport-McMoRan (FCX).

## </=pan>

## </=pan> (cont.)

<=span>

As a result of thes= fluctuations, listed premiums are now as follows:

</=pan>

v</=>

</=pan>

<=span>

(Note: Pricing as o= close 02/09/2015)

(*Premium (%) = Bi=/Price (Sh.))

Regar=s,

Danie=

</=>

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