From: Tazia Smith Sent: Wednesday, October 30, 2013 1:22 PM To: 'eevacation@ mail.com Cc: Subject: S&P puts into FOMC, AAPL ticking up, ARIA holder seeks board seat [C) Classification: Confidential Good Morning Jeffrey — Into FOMC decision today, worth wait=ng on your USDJPY risk reversal, but consider this-week put spread (or outright long put) on S&P (month-end isn't Friday, and S&P is up +7% since 10/8, even without less-dovish Fed speak may be a bit of reversion): =/font> B SPY Novl 176 put - $0.35 5 SPY Novl 173 put - $0.05 B SPX Novl 1765 put -$4.20 S SPX Nov1 1745 put -$1.20 Interesting that yesterday: soft us e=on data ->expectations for delayed tapering -> higher equities -> but lower EURUSD? AAPL: Ticking up in pre-market, —$519 (negative news out on supply constraints in iPad mini, but bullish market chatter of a deal with China Mobile) ARIA: up 12% in the pre —market (touched a high of $4.35) on ne=s that holder Sarissa Capital is seeking representation on the board. Comments below from Jim Reid. He writ=s a good daily summary of global market action. Summarizes his thoughts about "less dovish than expected" risks to the FOMC meeting. Curi=us for your views. Speak with you soon, Tazia Source: Bloomberg, streetaccount, 101=0/13 Forwarded by on 10/30/2013 09:02 AM From: "Jim Reid, Deutsche Bank" To: Date: 10/30/2013 02:28 AM Subject: Early Morning Reid - Macro Strategy<=font> EFTA_R1_00121220 EFTA01791326