From: jeffrey E. <[email protected]> Sent: Wednesday, October 15, 2014 7:47 PM To: Vahe Stepanian Subject: Re: Fw: AAL + US Airlines (C) unwind On Wed, Oct 15, 2014 at 2:21 PM, Vahe Stepanian > wrote: =font face="sans-serif">Classification: Confidential Jeffery - following up on the below. Would appreciate if you could please clarify whether you wish to: A) Unwind existing AAL position and/or B) Sell puts per the below on DAL, UAL, AAL, and LUV. If B, should we use $500k notional on each name for a total of $2mm total exposure to the underliers (in addition to your existing AAL position)? Thanks, Vahe Forwarded =y Vahe Stepanian/db/dbcom on 10/15/2014 02:18 PM From: Vahe Stepanian/db/dbcom To: "jeffrey E." cjeevacation@gmait=om <mailto:[email protected]»@DEUBAINT, C=: Date: 10/15/2014 11:48 AM Subject: Re: AAL + US Airlines (C) Classification: Confidential Jeffrey - to clarify, which would you like me to do: A) Unwind existing AAL position and/or EFTA_R1_01773821 EFTA02591366