<table><tr><th>From:</th><th>jeffrey E. &lt;jeevacation@gmail.com&gt;</th></tr><tr><td>Sent:</td><td>Friday, February 2, 2018 7:25 PM</td></tr><tr><td>To:</td><td>Mark Epstein</td></tr><tr><td>Subject:</td><td>Re: ?</td></tr></table>

you can short energy etf . buy inverse but puts on s=em energy stocks. etc

On Fri, Feb 2, 2018 at 1:25 PM, Mark L. Epstein < <mailto > > wrote:

Hunch is not sto=k specific just the oil and gas sector in general.

<=pan style="font-size:11.0pt;font-family:"Calibri",sans-serif;color:#1f497d">

=span style="font-size:11.0pt;font-family:"Calibri",sans-serif"=From: jeffrey E. [mailto:jeevacation@gmail.com <mailto:jeevacation@gmail.c=m> ]

Sent: Friday, F=bruary 02, 2018 1:23 <u>PM</u> To: Mark Epstein < <mailto > > Sub=ect: Re: ?

## >=A0

if your hunch is stock specific=C24> k you can also buy slightly out of the money puts. =C240. for ex stock at 48 you can buy april 45 puts.Q=A0 if you think quickly or july if longer

On F=i, Feb 2, 2018 at 1:21 PM, Mark L. Epstein <blackened out><mailto:></mailto:></blackened out> wrote:<=u>

Any to recommend?

<= class="MsoNormal">Let's say I have a hunch.

=/u>

From: jeffrey E. [mai=to:jeevacation@=mail.com <mailto:jeevacation@gmail.com> Sent: Friday, February <u>02,</u> 2018 1:16 <u>PM</u> To:=/b> Mark Epstein < <mailto > > Subject: Re: ?</=>

it goes up when sector goes down

## >=A0 (cont.)

<mailto:

>> wrote:<=p>

'I=verse etf' means what?

From: Jeffrey E. [mailto:jeevacation@gmail.com <mailto:jeevaca=ion@gmail.com> ] Sent:</=> Friday, February <u>O2,</u> 2O18 1:13 PM To: Mark Epstein < =; Subject: Re: ?

=C2

inverse etf on en=rgy secotr

On Fri, Feb 2, 2018 at 1:00 PM, Mar= L. Epstein <blackened out> <mailto:blackened out> wrote:

=p class="MsoNormar>lf I wanted to invest with the anticipation of the e=ergy sector (oil and gas) going down, what would be some good alternatives=

<=blockquote>

--<\=>>

=A0 please note

Th= information contained in this communication is confidential, may be at=orney-client privileged, may constitute inside information, and is inte=ded only for the use of the addressee. It is the property of

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U=authorized use, disclosure or copying of this communication or any part=thereof is strictly prohibited and may be unlawful. If you have receive= this communication in error, please notify us immediately by return=e-mail or by e-mail to jeevacation@gmail.com <mailto:jeevacation@gmail.com> , and destroy this communication and al= copies thereof, including all attachments. copyright -all rights reser=ed

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