From: Richard Kahn To: "Jeffrey E." <[email protected]> Subject: Fwd: FX Indicative Level - USDJPY triple no touch (expires 11/20/14) [C] Date: Tue, 02 Sep 2014 15:06:21 +0000 Inline-Images: Mail_Attachment.gif; Mail_Attachment(1).gif Richard Kahn HBRK Associates Inc. New York, NY 10022 Begin forwarded message: From: Tazia Smith 4 > Subject: FX Indicative Level - USDJPY triple no touch (expires 11/20/14) [C] Date: Se tember 2, 2014 at 9:00:49 AM EDT To: Cc: Paul Morris < >, Vahe Stepanian cca Classification: Confidential Rich - Indicative level on the JPY triple-no touch client receives net premium of $41,503 (4141,503 p/I). Detail below. DB Research's view is that if the cross can break through 105, it will break out to 110 (see commentary below). Note: 2 day BOJ meeting starts tomorrow. Reminder: as you know, this is a small notional trade on a relative basis vs. JE's other positions. Best Regards, Tazia Indicative levels, subject to market movement. Source: DB FX Pricer, 9/2/14. USDJPY Spot Ref: 104.93 <Client> sells European USD Call on USD/JPY Strike: 101 Notional: USD 1,000,000 Expiry: Thu 20-Nov-2014 Settlement: Tue 25-Nov-2014 ZoneCut: NY Premium: USD -39,150 Premium Date: Thu 04-Sep-2014 Leg 2: One Touch <Client> sells One Touch on USD/JPY payout EFTA01190517