To: Jeeyacation[jeeyacation@gmail.com]
From: Jeffrey M Matusow
Sent: Mon 6/21/2010 2:57:45 PM
Subject: AUD

Australia will also benefit from a stronger Chinese currency.

AUD/USD spot is 0.8825. We can put on a cashless 3 month bullish AUD position:

Buy 0.8825 AUD call and Sell 0.9400 AUD put

Sell 0.8650 AUD put that knocks in at 0.8300

You get long exposure at the current spot rate and max gain of 6.5% in 3 months. No loss unless AUD falls 6%.

Let me know what you think.

Jeff

Jeffrey M. Matusow

JPMorgan Private Bank, New York, NY 10019 address is shown. Other information is obscured.

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