AVG°

Richard Kahn 
Im not angry, sorry, it is sad. it is apparent that you have no experience trading. we both made a mistake. . the 
spy trades were the results of a rank amatuer.. you took a postion on the direction of the market. ok. you 
decided to play it extra short time and short. . why? becaue the options are cheaper. ? knowing full well that time 
premium was running. . first silly move. . I allowed as promised to give you authority. . you set a target. . it hit the 
traget, you moved in back. based on media reporting on trump visit? you didnt act. the market dipped and you 
panicked. . AMATEUR. wrong options wrong timing, no discipline and as a percentaage of investment, a one day dip 
fof 25%. wanting to buy the highter strike, is ok. but why the same month? why the same moment. why the same 
index. . sorry. I have taught this for many years. and your grade is an F. not one good move in many. . re 
broadcom. the crack happend in the morning, options were higher. no alternative presented. no analysis. , this is 
no way to manage money. I have lost a great deal of money hoping you would be able to do as you promised you 
could . would.. Had you told me, jeffrey I d like to try a new job as a manager lets start slow I can learn . i would 
be less annoyed. you told me you had great confidence knew the risks and truly believed you would be able to raise 
money .do well and prosper. . If it were not you, this would have ended months ago.. we should work on a 
solution . not sure yet what shape it takes.

Jeffrey 
I understand your frustrations and appreciate your willingness to figure out a solution. I have some ideas which I will 
send you over the weekend if that is OK. 
Re Broadcom: the stock is up $1.20 at $211.50. After the initial shock reaction of yesterday, there has been a lot of 
focus on the cost synergies etc. but very little conviction in revenue opportunities. However until we hear from 
management as to the overall intentions of the deal, uncertainty will linger. 
This morning the pricing is as follows: 
Aug 200 Puts cost $4.10 
Sept 200 Puts cost $7.90 
Earning are on 08/30. So worst case is the uncertainty lingers until then which would argue to buy the Sept puts. 
However I still prefer buying the Aug puts as I would fully expect more clarity from management before August expiry.

Any thoughts on the AVGO Aug puts? Stock trading at 204.50. 
Aug puts now $6.50