From: "McCaffrey, Carlyn" To: Jeffrey Epstein <[email protected]> Subject: RE: Re: Date: Mon, 11 Feb 2013 02:16:47 +0000 Where can you get prices? I didn't think there were any traded 10-year call options. What kind of price do you think there would be for a 10-year call on with a strike price equal to a stock's current market price? Carlyn S. McCaffrey I Partner -menamme-wil-IA Emery LLP I 340 Madison Avenue, New York, NY 10173 From: Jeffrey Epstein [mailtoleevacation@gmallcom] Sent: Sunday, February 10, 2013 6:29 PM To: McCaffrey, Carlyn Subject: Re: we can actuallyl get prices. we could make them european, only excericable at expiration. etc. yes On Sun, Feb 10, 2013 at 7:24 PM, McCaffrey, Carlyn > wrote: I know that the relationship between the strike price and current value are important factors in determining the price of an option but aren't the length of the option and the volatility of the stock also very important? If there are no 10 year publicly traded options we would have to get an appraisal. Are you sure that a purchase be LB of the partnership interest followed by a sale by him of a call isn't caught by 16b? On Feb 10, 2013, at 11:37 AM, "Jeffrey Epstein" <[email protected]> wrote: I. according to the strike, price, 2. the economic effect can be manged in the document. 3, security wise lock up is only concern as long as it happens near the same time and is not deep in the money, 4, the price of the option reflects the risk of that, On Sun, Feb 10, 2013 at 12:27 PM, McCaffrey, Carlyn < > wrote: What would the price of a 10 year option be? Although he can buy the PS interest , the call will have to be on the stock itself. Your structure bypasses 2703 because LB will never deliver the stock pursuant to the option. The economic effect, however, is the same. That's why some think it doesn't work. What are the securities law consequences of LB buying stock and the selling a call? Does the purchaser of a publicly trade