IN: This is an email
Per our discussion - let me know if we need to look into this more to clarify. Options: Whether the option is in/out of the money - the delta will be calculated as an effective position per each $1 price change. For example what we were looking at for October: The Current Strike in deal entry is $30 - since the mid price is lower than that - when we take the scalars into effect and calculate an hourly price it is rarely in the money for CSU to exercise this option. Therefore your delta is so low. Forwards: Your delta position should be the same as your notional position. I will let you know about the CSU strike in deal entry. Heather

What is the subject?

OUT: Delta Position

IN: This is an email
Since Mr. Bass didn't follow through on our social engagement, I thought I would do so. Is anyone interested in lunch? Is tomorrow too early for you all or should we shoot for next week? Mr. Hull and I are both available tomorrow. You guys let me know. We'll have to go dutch (no more expense report) or one of you UBS people with your big bonuses will have to pick it up! Let me know.

What is the subject?

OUT: Lunch

IN: This is an email
PLEASE NOTE THAT THE MASTER NETTING MEETING WILL BE AT 11:00 (CDT) RATHER THAN 10:00 AT ECN 791. SORRY FOR INCONVENIENCE. Esmeralda, please be sure we keep conference room until 12. Thanks.

What is the subject?

OUT:
READ! CHANGE OF TIME FOR MEETING: MASTER NETTING