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Epstein File EFTA01365338: Deutsche Bank (DS10)

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This document is a Deutsche Bank Securities Inc. financial analysis discussing call spread returns and long-dated call options, with references to Bloomberg Finance LP as a source. The document includes technical financial charts and investment analysis regarding attractive levels of long-dated calls. The document is marked confidential pursuant to Federal Rule of Criminal Procedure 6(e).

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**Bank**, Bloomberg Finance LP Source **Deutsche** **Bank**, Bloomberg Finance LP Figure 17: Call spread returns similar to calls (18M calls Figure 18: but with much
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**Bank**, Bloomberg Finance LP Source: **Deutsche** **Bank**, Bloomberg Finance LP Given the attractive levels of long-dated calls currently, investors may still
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Page 10 **Deutsche** **Bank** Securities Inc. CONFIDENTIAL - PURSUANT TO FED. R. CRIM. P. 6(e) DB-SDNY-0056044 CONFIDENTIAL SDNY_GM_00202228 EFTA01365338

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