From: Paul Barrett

Sent: Friday, March 2, 2018 5:01 PM

To: jeffrey E.

Subject: RE: Re:

ok

Paul Barrett

Alpha Group Capital LLC

142 W 57th Street, 11th Floor, New York, NY 10019

From: jeffrey E. [mailto:jeevacation@gmail.com]
Sent: Friday, March 02, 2018 12:01 PM
To: Paul Barret
Subject: Re: Re:

free in 1 hr

On Fri, Mar 2, 2018 at 11:59 AM, Paul Barrett wrote:

Let's discuss the USD and U.S credit.

Foreigners were huge buyers of US IG credit because they could hedge out the FX and still make a lot more than what their local bonds were paying. Not anymore. Could result in a huge drop in demand for US credit. Therefore buying credit protection on CDX IG is something I am looking at.

Paul Barrett

Alpha Group Capital LLC

142 W 57 <https://maps.google.com/?q=142+W+57&entry=gmail&source=g> th Street, 11th Floor, New York,
NY 10019

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From: jeffrey E. [mailto:jeevacation@gmail.com <mailto:jeevacation@gmail.com>]
Sent: Friday, March 02, 2018 11:46 AM

To: Paul Barrett
Subject: Re: Re:

no, we might do covered calls. for ex. .

<u>On Fri Mar</u> 2 2018 at 11:45 AM Paul Barrett
wrote:

You want to buy vol at these levels?

Paul Barrett

Alpha Group Capital LLC

142 W 57 <https://maps.google.com/?q=142+W+57&entry=gmail&source=g> th Street, 11th Floor, New

York, NY 10019

From: Jeffrey E. [mailto:jeevacation@gmail.com <mailto:jeevacation@gmail.com> ] Sent: Friday, March 02, 2018 11:44 AM

To: Paul <u>Barrett</u>

Richard Kahn

Subject: Re:

i never like selling puts.   it is a sucker play,   limited upside with unlimited down.

<u>On</u> Fri, Mar 2, 2018 at <u>11:42</u> AM, Paul Barrett

wrote:

You have 2 mins?

I am pricing:

Buying 260/250 SPY put spreads 1/1.5x — cashless.

Selling puts on Raytheon, GD, Lockheed and Northrop

Paul Barrett

Alpha Group Capital LLC

142 W 57 <https://maps.google.com/?q=142+W+57&entry=gmail&source=g> th Street, 11th Floor, New York, NY 10019

Richard Kahn

From: Jeffrey E. [mailto:jeevacation@gmail.com <mailto:jeevacation@gmail.com> ]
Sent: Friday, <u>March 02, 2018</u> 11:39 <u>AM</u>
To: Paul Barrett

Subject:

we should start looking at options market , premiums getting high

please note

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Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received 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 all copies thereof, including all attachments. copyright -all rights reserved

please note

The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE

Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received this communication in error, please notify us immediately by

4

return e-mail or by e-mail to jeevacation@gmail.com <mailto:jeevacation@gmail.com> , and destroy this communication and all copies thereof, including all attachments. copyright -all rights reserved

please note

The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE

Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received 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 all copies thereof, including all attachments. copyright -all rights reserved

please note

The information contained in this communication is confidential, may be attorney-client privileged, may constitute inside information, and is intended only for the use of the addressee. It is the property of JEE Unauthorized use, disclosure or copying of this communication or any part thereof is strictly prohibited and may be unlawful. If you have received 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 all copies thereof, including all attachments. copyright -all rights reserved