From:

Barrett, Paul S
Sent: Thursday, March 8, 2012 8:48 PM
To: Epstein, Jeffrey (jeevacation@omail.com)
Cc: Giuffrida, David
Subject: Idea on BRL

Jeffrey

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Our BRL put knocked out a few week= ago. We have seen a decent selloff in BRL over the past few days and wo=ld recommend getting long BRL through the following idea:

<=>>

1 month

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1.7600 ref<=p>

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Buy 1.7500 BRL Call

Sell 1.750= BRL Put with a 1.9000

Cashless

We should do $5MM on this.

Paul

Paul Barrett, CFA

Managing Director

Global Investment Opportunities Group<=o:p>

JPMorgan Private Bank

320 Park Avenue, 14th Floor, New York, NY 1=022

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