Reporte de Opciones

Flavia Matsuda Analista Cuantitativo @FlaviMatsuda [email protected]

jueves, 07 de abril de 2016 Subyacente

Precio

Serie

Tipo

Strike

Vto

Dias al Vto

Prima

% Var

Prima Teórica

Dif.vs Prima

Estado

ALUA

9.40 9.40 9.40 9.40 9.40 9.40 9.40 9.40 9.40 9.40 9.40 9.40 38.50 38.50 38.50 38.50 38.50 38.50 38.50 38.50 38.50 38.50 38.50 38.50 38.50 38.50 38.50 38.50 38.50 38.50 38.50 38.50 38.50 38.50 38.50 38.50 38.50 38.50 38.50 38.50 38.50

ALUC5.786A ALUC5.80JU ALUC5.80AG ALUC7.60AB ALUC9.40AB ALUC9.40JU ALUC10.3AB ALUC10.75A ALUC10.75J ALUC11.2JU ALUC12.5AB ALUV11186A PBRC18.4JU PBRC18.4AG PBRC22.4AB PBRC22.4JU PBRC22.4AG PBRC26.4AB PBRC26.4JU PBRC30.4AB PBRC30.4JU PBRC30.4AG PBRC34.4AB PBRC34.4JU PBRC34.4AG PBRC38.4AB PBRC38.4JU PBRC38.4AG PBRC42.4AB PBRC42.4JU PBRC42.4AG PBRC46.4AB PBRC46.4JU PBRC50.0AB PBRC50.4JU PBRC50.4AG PBRC54.4AB PBRC54.4JU PBRC58.4AB PBRC58.4JU PBRC58.4AG

Call Call Call Call Call Call Call Call Call Call Call Put Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call

5.780 5.800 5.800 7.600 9.400 9.400 10.300 10.700 10.700 11.200 12.500 11.180 18.400 18.400 22.400 22.400 22.400 26.400 26.400 30.400 30.400 30.400 34.400 34.400 34.400 38.400 38.400 38.400 42.400 42.400 42.400 46.400 46.400 50.000 50.400 50.400 54.400 54.400 58.400 58.400 58.400

A JU AG AB AB JU AB A J JU AB A JU AG AB JU AG AB JU AB JU AG AB JU AG AB JU AG AB JU AG AB JU AB JU AG AB JU AB JU AG

7.00 70.00 133.00 7.00 7.00 70.00 7.00 7.00 70.00 70.00 7.00 7.00 70.00 133.00 7.00 70.00 133.00 7.00 70.00 7.00 70.00 133.00 7.00 70.00 133.00 7.00 70.00 133.00 7.00 70.00 133.00 7.00 70.00 7.00 70.00 133.00 7.00 70.00 7.00 70.00 133.00

3.60 4.30 0.00 1.90 0.55 1.40 0.00 0.00 0.60 0.40 0.00 0.00 0.00 0.00 0.00 18.00 0.00 12.00 0.00 8.80 10.50 0.00 4.60 7.80 0.00 1.69 0.00 0.00 0.40 3.20 0.00 0.09 2.00 0.07 1.55 0.00 0.00 0.90 0.00 0.00 0.00

-10% -23% -24% -61% -20% -55% -11% -3% -1% 5% -13% -8% -4% -16% -41% -9% -50% -22% -30% -14% -10% -

3.66 3.91 4.18 1.85 0.28 1.00 0.03 0.01 0.46 0.33 0.00 1.71 21.15 22.22 16.24 17.58 19.09 12.26 14.30 8.34 11.39 13.77 4.77 8.92 11.61 2.16 6.88 9.76 0.75 5.25 8.18 0.21 3.98 0.05 2.99 5.75 0.01 2.24 0.00 1.67 4.04

0.015 -0.091 -0.028 -0.492 -0.284 -0.229 -0.172 -0.023 0.022 -0.052 0.085 0.038 0.143 0.279 0.887 0.642 1.293 0.988 -0.237 0.928 1.484 -

ITM ITM ITM ITM ATM ATM OTM OTM OTM OTM OTM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM

APBR

Valor Intrínseco

Cobertura %

Tasa Lanzam. %

3.62 3.60 3.60 1.80

38.30% 45.74%

-0.3% 13.7%

20.21% 5.85% 14.89%

1.3% 6.2% 17.5%

6.38% 4.26%

21.6% 24.4%

46.75%

9.3%

31.17%

-0.4%

22.86% 27.27%

2.4% 8.6%

11.95% 20.26%

1.5% 12.1%

4.39%

4.3%

1.04% 8.31%

11.3% 20.1%

0.23% 5.19% 0.18% 4.03%

20.8% 27.1% 30.1% 36.4%

2.34%

44.7%

1.78 20.10 20.10 16.10 16.10 16.10 12.10 12.10 8.10 8.10 8.10 4.10 4.10 4.10 0.10 0.10 0.10

Delta

Gamma

Vega

Theta

Rho

Efecto Palanca

Volat. Implícita

Volumen

1.000 0.997 0.989 1.000 0.550 0.646 0.107 0.035 0.391 0.306 0.000 -0.993 0.987 0.968 1.000 0.958 0.930 0.999 0.905 0.973 0.827 0.817 0.836 0.734 0.749 0.553 0.634 0.679 0.265 0.534 0.610 0.093 0.442 0.029 0.359 0.482 0.005 0.289 0.001 0.230 0.373

0.000 0.004 0.012 0.003 0.630 0.199 0.293 0.123 0.205 0.188 0.000 0.030 0.002 0.004 0.000 0.006 0.007 0.001 0.011 0.012 0.017 0.013 0.049 0.022 0.016 0.079 0.025 0.017 0.065 0.027 0.019 0.033 0.026 0.013 0.025 0.019 0.003 0.023 0.001 0.020 0.018

0.000 0.000 0.002 0.000 0.006 0.015 0.003 0.001 0.016 0.015 0.000 0.000 0.006 0.017 0.000 0.015 0.031 0.000 0.029 0.004 0.043 0.062 0.014 0.056 0.074 0.023 0.064 0.084 0.019 0.067 0.090 0.009 0.067 0.004 0.063 0.093 0.001 0.058 0.000 0.052 0.088

-0.031 -0.030 -0.030 -0.041 -0.135 -0.062 -0.056 -0.023 -0.053 -0.046 0.000 0.054 -0.115 -0.120 -0.120 -0.170 -0.162 -0.150 -0.235 -0.293 -0.298 -0.237 -0.690 -0.346 -0.263 -0.970 -0.371 -0.280 -0.768 -0.375 -0.288 -0.383 -0.360 -0.150 -0.333 -0.282 -0.035 -0.299 -0.008 -0.262 -0.258

0.001 0.011 0.019 0.002 0.001 0.010 0.000 0.000 0.006 0.005 0.000 -0.002 0.033 0.055 0.005 0.038 0.061 0.006 0.040 0.006 0.040 0.065 0.006 0.038 0.063 0.004 0.034 0.060 0.002 0.030 0.056 0.001 0.025 0.000 0.021 0.047 0.000 0.017 0.000 0.014 0.038

2.57 2.40 2.22 5.09 18.49 6.06 32.07 38.75 7.95 8.70 69.26 5.45 1.80 1.68 2.37 2.10 1.88 3.14 2.44 4.49 2.80 2.28 6.74 3.17 2.48 9.85 3.54 2.68 13.49 3.91 2.87 17.36 4.28 20.86 4.63 3.23 25.04 4.97 28.71 5.30 3.56

50% 50% 50% 94% 71% 54% 50% 50% 50% 50% 65% 75% 67% 67% 67% 58% 73% 58% 92% 64% 62% -

291980 138060 5700 17060 19200 7080 6000 12600 60850 218706 5250 161885 60600 1501947 155258 192019 11603 28370 4658 128279 540 -

San Martin 323 Piso 11 C.A.B.A. - Argentina - Te. 4000-1400 - 0810-1222-IOL (465)

Reporte de Opciones

Subyacente

AY24 BHIP BMA CAPX CECO2

COME

Precio

Serie

Tipo

Strike

Vto

Dias al Vto

Prima

% Var

Prima Teórica

Dif.vs Prima

Estado

38.50 38.50 38.50 38.50 38.50 38.50 38.50 38.50 38.50 38.50 38.50 38.50 38.50 38.50 1574.00 6.10 6.10 84.00 84.00 14.45 4.20 4.20 4.20 2.93 2.93 2.93 2.93 2.93 2.93 2.93 2.93 2.93 2.93 2.93 2.93 2.93 2.93 2.93 2.93 2.93 2.93 2.93 2.93 2.93 2.93 2.93 2.93

PBRC62.4JU PBRC62.4AG PBRV18.4AB PBRV22.4AB PBRV26.4AB PBRV30.4AB PBRV30.4JU PBRV34.4AB PBRV34.4JU PBRV38.4AB PBRV38.4JU PBRV42.4AB PBRV42.4JU PBRV46.4AB A24C1100.J BHIC6.65AB BHIC7.05JU BMAC96.0AB BMAC10761A CAPC12.0JU CECC4.00AB CECC4.60AB CECC5.00AB COMC2.00AB COMC2.00JU COMC2.00AG COMC2.20JU COMC2.60AB COMC2.60JU COMC2.80AB COMC3.00AB COMC3.00JU COMC3.00AG COMC3.15AB COMC3.15JU COMC3.30AB COMC3.30JU COMC3.45AB COMC3.45JU COMC3.60AB COMC3.60JU COMC3.75AB COMC3.75JU COMC3.90AB COMC4.05AB COMC4.05JU COMC4.20AB

Call Call Put Put Put Put Put Put Put Put Put Put Put Put Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call

62.400 62.400 18.400 22.400 26.400 30.400 30.400 34.400 34.400 38.400 38.400 42.400 42.400 46.400 1100.000 6.650 7.050 96.000 107.600 12.000 4.000 4.600 5.000 2.000 2.000 2.000 2.200 2.600 2.600 2.800 3.000 3.000 3.000 3.150 3.150 3.300 3.300 3.450 3.450 3.600 3.600 3.750 3.750 3.900 4.050 4.050 4.200

JU AG AB AB AB AB JU AB JU AB JU AB JU AB .J AB JU AB A JU AB AB AB AB JU AG JU AB JU AB AB JU AG AB JU AB JU AB JU AB JU AB JU AB AB JU AB

70.00 133.00 7.00 7.00 7.00 7.00 70.00 7.00 70.00 7.00 70.00 7.00 70.00 7.00 79.00 7.00 70.00 7.00 7.00 70.00 7.00 7.00 7.00 7.00 70.00 133.00 70.00 7.00 70.00 7.00 7.00 70.00 133.00 7.00 70.00 7.00 70.00 7.00 70.00 7.00 70.00 7.00 70.00 7.00 7.00 70.00 7.00

0.00 0.00 0.01 0.10 0.10 0.22 1.25 0.45 1.50 1.20 0.00 3.93 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.95 1.11 1.20 0.90 0.00 0.58 0.19 0.07 0.30 0.00 0.03 0.00 0.01 0.18 0.01 0.12 0.01 0.10 0.01 0.00 0.01 0.00 0.04 0.00

-88% 0% 0% 0% -11% 0% -96% -6% 12% -13% -11% 1% -18% -17% -30% -38% -29% -40% -36% -5% -17% -18% 0% 11% 0% -17% -20% -43% -20%

1.24 3.39 0.00 0.00 0.00 0.05 1.67 0.46 2.99 1.82 4.74 4.39 6.90 7.82 538.91 0.03 0.32 0.02 0.00 3.60 0.24 0.00 0.00 0.94 1.04 1.13 0.85 0.35 0.51 0.16 0.05 0.25 0.39 0.01 0.18 0.00 0.13 0.00 0.09 0.00 0.06 0.00 0.04 0.00 0.00 0.02 0.00

-1.000 -1.000 -0.981 -0.755 0.338 0.027 0.992 0.520 0.118 -0.008 -0.066 -0.058 -0.054 -0.126 -0.134 -0.350 -0.173 -0.622 -0.868 -0.296 -0.980 -0.243 -0.998 -0.417 -1.000 -1.000 -1.000 -0.616 -1.000

OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM ITM ITM ITM ITM OTM OTM OTM OTM ITM ITM OTM OTM ITM ITM ITM ITM ITM ITM ITM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM

Valor Intrínseco

Cobertura %

Tasa Lanzam. %

3.90 3.90 7.90 474.00

2.45 0.20

0.93 0.93 0.93 0.73 0.33 0.33 0.13

32.42% 37.88% 40.96% 30.72%

1.0% 9.9% 15.6% 8.4%

19.80% 6.48% 2.42% 10.24%

10.6% 2.2% 4.9% 14.1%

1.02%

8.6%

0.48% 6.14% 0.34% 3.92% 0.24% 3.41% 0.17%

13.2% 20.0% 18.2% 22.6% 23.2% 27.2% 28.2%

0.17% 0.14% 1.37% 0.14%

33.3% 38.4% 40.1% 43.5%

Delta

Gamma

Vega

Theta

Rho

Efecto Palanca

Volat. Implícita

Volumen

0.181 0.327 0.000 0.000 -0.001 -0.027 -0.173 -0.164 -0.266 -0.447 -0.366 -0.735 -0.466 -0.907 1.000 0.150 0.384 0.011 0.000 0.821 0.862 0.053 0.001 1.000 0.995 0.984 0.980 0.985 0.862 0.819 0.394 0.605 0.674 0.135 0.494 0.029 0.389 0.004 0.295 0.000 0.217 0.000 0.155 0.000 0.000 0.072 0.000

0.018 0.018 0.000 0.000 0.001 0.012 0.017 0.049 0.022 0.079 0.025 0.065 0.027 0.033 0.000 0.512 0.282 0.006 0.000 0.057 1.016 0.499 0.010 0.000 0.027 0.057 0.096 0.217 0.433 1.538 2.248 0.755 0.514 1.266 0.782 0.383 0.752 0.067 0.677 0.007 0.576 0.001 0.467 0.000 0.000 0.270 0.000

0.045 0.084 0.000 0.000 0.000 0.004 0.043 0.014 0.056 0.023 0.064 0.019 0.067 0.009 0.000 0.002 0.010 0.004 0.000 0.017 0.001 0.001 0.000 0.000 0.000 0.001 0.001 0.000 0.003 0.001 0.002 0.005 0.006 0.001 0.005 0.000 0.005 0.000 0.004 0.000 0.004 0.000 0.003 0.000 0.000 0.002 0.000

-0.225 -0.243 0.000 0.000 -0.009 -0.130 -0.143 -0.505 -0.170 -0.764 -0.175 -0.541 -0.159 -0.134 -5.578 -0.051 -0.036 -0.063 0.000 -0.103 -0.039 -0.011 0.000 -0.011 -0.010 -0.010 -0.012 -0.016 -0.016 -0.032 -0.035 -0.018 -0.015 -0.018 -0.017 -0.005 -0.015 -0.001 -0.013 0.000 -0.010 0.000 -0.008 0.000 0.000 -0.005 0.000

0.011 0.034 0.000 0.000 0.000 0.000 -0.016 -0.001 -0.026 -0.004 -0.037 -0.007 -0.048 -0.009 2.240 0.000 0.004 0.000 0.000 0.016 0.001 0.000 0.000 0.000 0.004 0.006 0.004 0.001 0.004 0.000 0.000 0.003 0.006 0.000 0.002 0.000 0.002 0.000 0.002 0.000 0.001 0.000 0.001 0.000 0.000 0.000 0.000

5.62 3.71 45.97 35.06 26.30 19.24 3.97 13.66 3.43 9.44 2.97 6.44 2.60 4.46 2.92 26.72 7.25 54.08 87.77 3.29 15.07 46.72 73.15 3.11 2.81 2.55 3.37 8.32 4.98 14.59 25.01 7.14 5.01 34.77 8.05 45.39 8.99 56.35 9.94 67.36 10.91 78.24 11.88 88.91 99.32 13.81 109.46

50% 50% 50% 50% 78% 87% 60% 60% 60% 50% 94% 75% 71% 61% 59% 54% 50% 56% 61% 50% 71% 46% 79% 50% 87% 98% 50% 50% 50%

660 1000 1000 4400 5075 12803 9000 130256 19430 24897 5550 6000 3870 56350 29800 155005 64586 73786 8515 23518 2625 1805 863 20055 4222 1783 2329 248 897

San Martin 323 Piso 11 C.A.B.A. - Argentina - Te. 4000-1400 - 0810-1222-IOL (465)

2

Reporte de Opciones

Subyacente

DGCU2 EDN

ERAR

FIPL FRAN GGAL

Precio

Serie

Tipo

Strike

Vto

Dias al Vto

Prima

% Var

Prima Teórica

Dif.vs Prima

Estado

2.93 9.65 9.65 10.95 10.95 10.95 10.95 10.95 10.95 10.95 10.95 10.95 10.95 7.05 7.05 7.05 7.05 7.05 7.05 7.05 7.05 7.05 7.05 7.05 7.05 7.05 7.05 7.05 7.05 7.05 7.05 3.70 88.05 88.05 37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40

COMC4.90AB DGCC6.40AG DGCC8.40AG EDNC9.15AB EDNC9.15JU EDNC11.2JU EDNC12.7AB EDNC14.5AB EDNV9.15AB EDNV9.15JU EDNV9.70AB EDNV11.2AB EDNV11.2JU ERAC5.12AB ERAC5.12JU ERAC5.12AG ERAC6.12AB ERAC6.12JU ERAC6.87AB ERAC7.12AB ERAC7.12JU ERAC7.37AB ERAC7.62AB ERAC7.87AB ERAC7.87JU ERAC8.12AB ERAC8.12JU ERAC8.70AB ERAC9.50AB ERAV7.62AB ERAV7.62JU FIPC1.90JU FRAC63255A FRAC73255A GFGC35.0AB GFGC36.0AB GFGC36.0JU GFGC37.0AB GFGC38.0AB GFGC38.0JU GFGC39.0AB GFGC39.0JU GFGC40.0AB GFGC41.0AB GFGC42.0AB GFGC42.0JU GFGC43.0AB

Call Call Call Call Call Call Call Call Put Put Put Put Put Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Put Put Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call

4.900 6.400 8.400 9.150 9.150 11.200 12.700 14.500 9.150 9.150 9.700 11.200 11.200 5.120 5.120 5.120 6.120 6.120 6.870 7.120 7.120 7.370 7.620 7.870 7.870 8.120 8.120 8.700 9.500 7.620 7.620 1.900 63.250 73.250 35.000 36.000 36.000 37.000 38.000 38.000 39.000 39.000 40.000 41.000 42.000 42.000 43.000

AB AG AG AB JU JU AB AB AB JU AB AB JU AB JU AG AB JU AB AB JU AB AB AB JU AB JU AB AB AB JU JU A A AB AB JU AB AB JU AB JU AB AB AB JU AB

7.00 133.00 133.00 7.00 70.00 70.00 7.00 7.00 7.00 70.00 7.00 7.00 70.00 7.00 70.00 133.00 7.00 70.00 7.00 7.00 70.00 7.00 7.00 7.00 70.00 7.00 70.00 7.00 7.00 7.00 70.00 70.00 7.00 7.00 7.00 7.00 70.00 7.00 7.00 70.00 7.00 70.00 7.00 7.00 7.00 70.00 7.00

0.00 0.00 0.00 0.00 0.00 0.00 0.01 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.90 1.70 0.00 0.00 0.70 0.10 0.00 0.20 0.00 0.02 0.00 0.00 0.00 0.59 0.70 0.00 0.00 16.00 3.40 1.90 0.00 1.51 1.20 0.00 0.72 3.30 0.46 0.26 0.15 2.50 0.10

-97% -20% -15% -44% -80% -33% 0% 46% 13% 0% -26% -41% -42% -40% -52% 10% -46% -54% -53% -11% -47%

0.00 3.94 2.44 1.86 2.43 1.10 0.01 0.00 0.00 0.14 0.01 0.42 0.76 1.96 2.21 2.45 0.97 1.33 0.30 0.15 0.65 0.07 0.02 0.01 0.33 0.00 0.26 0.00 0.00 0.55 0.58 1.90 25.19 15.25 2.65 1.77 4.02 1.03 0.51 2.77 0.21 2.25 0.07 0.02 0.00 1.11 0.00

-0.238 0.076 -0.218 -0.070 -0.344 -0.966 -0.918 -0.066 -0.165 -0.047 -0.220 -0.070 -0.316 -0.572 -0.704 -0.317 -0.842 -0.920 -0.969 -0.556 -0.991

OTM ITM ITM ITM ITM OTM OTM OTM OTM OTM OTM ITM ITM ITM ITM ITM ITM ITM ITM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM ITM ITM ITM ITM ITM ITM ITM ITM ITM OTM OTM OTM OTM OTM OTM OTM OTM OTM

Valor Intrínseco

Cobertura %

Tasa Lanzam. %

3.25 1.25 1.80 1.80

0.25 0.25 1.93 1.93 1.93 0.93 0.93 0.18

0.57 0.57 1.80 24.80 14.80 2.40 1.40 1.40 0.40

0.09%

16.1%

12.77% 24.11%

-0.5% 14.4%

9.93% 1.42%

12.1% 6.0%

2.84%

14.9%

0.28%

15.5%

18.17% 9.09% 5.08%

1.7% 2.9% 1.4%

4.04% 3.21%

3.1% 5.0%

1.93% 8.82% 1.23% 0.68% 0.40% 6.68% 0.27%

6.3% 14.4% 8.3% 10.4% 12.8% 20.3% 15.3%

Delta

Gamma

Vega

Theta

Rho

Efecto Palanca

Volat. Implícita

Volumen

0.000 0.959 0.817 0.996 0.885 0.601 0.026 0.000 -0.004 -0.115 -0.035 -0.576 -0.399 1.000 0.987 0.970 0.994 0.886 0.717 0.486 0.634 0.267 0.117 0.041 0.410 0.012 0.342 0.000 0.000 -0.883 -0.518 1.000 1.000 0.999 0.947 0.841 0.774 0.653 0.424 0.638 0.223 0.564 0.093 0.031 0.008 0.350 0.002

0.000 0.028 0.084 0.016 0.083 0.165 0.077 0.000 0.016 0.083 0.099 0.498 0.165 0.000 0.027 0.040 0.038 0.156 0.816 0.962 0.305 0.794 0.475 0.213 0.315 0.073 0.297 0.003 0.000 0.475 0.323 0.002 0.000 0.001 0.063 0.143 0.059 0.217 0.230 0.074 0.175 0.078 0.098 0.041 0.013 0.073 0.003

0.000 0.005 0.016 0.000 0.009 0.019 0.001 0.000 0.000 0.009 0.001 0.006 0.019 0.000 0.001 0.003 0.000 0.006 0.004 0.004 0.012 0.003 0.002 0.001 0.012 0.000 0.011 0.000 0.000 0.002 0.012 0.000 0.000 0.000 0.006 0.013 0.050 0.020 0.022 0.062 0.017 0.065 0.009 0.004 0.001 0.061 0.000

0.000 -0.036 -0.051 -0.053 -0.062 -0.074 -0.022 0.000 -0.004 -0.015 -0.025 -0.099 -0.017 -0.027 -0.028 -0.027 -0.035 -0.038 -0.087 -0.090 -0.043 -0.069 -0.040 -0.018 -0.037 -0.006 -0.034 0.000 0.000 0.001 -0.001 -0.010 -0.339 -0.400 -0.257 -0.340 -0.209 -0.401 -0.374 -0.207 -0.266 -0.200 -0.143 -0.058 -0.019 -0.157 -0.005

0.000 0.020 0.020 0.002 0.014 0.011 0.000 0.000 0.000 -0.003 0.000 -0.001 -0.010 0.001 0.009 0.016 0.001 0.010 0.001 0.001 0.007 0.000 0.000 0.000 0.005 0.000 0.004 0.000 0.000 -0.001 -0.008 0.003 0.014 0.016 0.007 0.007 0.049 0.005 0.003 0.041 0.002 0.037 0.001 0.000 0.000 0.023 0.000

153.17 2.35 3.23 5.87 3.99 5.98 37.52 59.91 43.62 8.72 34.21 15.20 5.77 3.59 3.15 2.79 7.24 4.70 17.00 22.44 6.87 28.73 35.60 42.84 8.74 50.28 9.39 67.71 91.16 11.39 6.24 1.95 3.50 5.77 13.35 17.80 7.20 23.68 30.85 8.61 39.05 9.37 47.98 57.39 67.08 11.80 76.91

51% 50% 84% 44% 49% 50% 61% 55% 49% 50% 84% 40% 53% 62% 57% 47% 58% 56% 57% 53% 60%

94 58500 17000 1400 620 1360 50 11450 1400 3200 127556 19000 78430 182597 193527 125450 99947 60290 22848 39070 4458

San Martin 323 Piso 11 C.A.B.A. - Argentina - Te. 4000-1400 - 0810-1222-IOL (465)

3

Reporte de Opciones

Subyacente

INDU MIRG

PAMP

Precio

Serie

Tipo

Strike

Vto

Dias al Vto

Prima

% Var

Prima Teórica

Dif.vs Prima

Estado

37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40 37.40 3.12 1114.95 1114.95 1114.95 1114.95 1114.95 1114.95 1114.95 1114.95 1114.95 1114.95 1114.95 1114.95 1114.95 11.30 11.30

GFGC44.0AB GFGC45.0AB GFGC45.0JU GFGC46.0AB GFGC47.0AB GFGC48.0AB GFGC49.0AB GFGC50.0AB GFGC50.0JU GFGC50.0AG GFGC51.0AB GFGC52.0AB GFGC54.0AB GFGC54.0JU GFGC55.0AB GFGC55.0JU GFGC55.0AG GFGV11.0AB GFGV35.0AB GFGV38.0AB GFGV38.0JU GFGV39.0AB GFGV40.0AB GFGV40.0JU GFGV41.0JU GFGV42.0AB GFGV42.0JU GFGV44.0AB GFGV44.0JU GFGV46.0AB GFGV48.0AB INDC3.20AB MIRC700.JU MIRC700.AG MIRC800.AG MIRC940.AB MIRC1100.J MIRC1100.A MIRC1100.G MIRC1140.A MIRC1260.J MIRC1260.A MIRC1300.J MIRV700.AB MIRV800.JU PAMC9.10AB PAMC9.10JU

Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Put Put Put Put Put Put Put Put Put Put Put Put Put Put Call Call Call Call Call Call Call Call Call Call Call Call Put Put Call Call

44.000 45.000 45.000 46.000 47.000 48.000 49.000 50.000 50.000 50.000 51.000 52.000 54.000 54.000 55.000 55.000 55.000 11.000 35.000 38.000 38.000 39.000 40.000 40.000 41.000 42.000 42.000 44.000 44.000 46.000 48.000 3.200 700.000 700.000 800.000 940.000 1100.000 1100.000 1100.000 1140.000 1260.000 1260.000 1300.000 700.000 800.000 9.100 9.100

AB AB JU AB AB AB AB AB JU AG AB AB AB JU AB JU AG AB AB AB JU AB AB JU JU AB JU AB JU AB AB AB JU AG AG AB .J .A .G .A .J .A .J AB JU AB JU

7.00 7.00 70.00 7.00 7.00 7.00 7.00 7.00 70.00 133.00 7.00 7.00 7.00 70.00 7.00 70.00 133.00 7.00 7.00 7.00 70.00 7.00 7.00 70.00 70.00 7.00 70.00 7.00 70.00 7.00 7.00 7.00 70.00 133.00 133.00 7.00 70.00 7.00 133.00 7.00 70.00 7.00 70.00 7.00 70.00 7.00 70.00

0.06 0.06 1.50 0.00 0.02 0.02 0.03 0.02 0.00 0.00 0.02 0.00 0.00 0.00 0.01 0.00 0.00 0.00 0.30 1.20 2.04 1.60 2.60 0.00 0.00 4.89 4.50 6.40 6.50 0.00 0.00 0.00 500.00 550.00 0.00 150.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.50 0.00

-56% -25% -17% -57% -33% -57% -33% -75% 0% -50% 50% 85% 36% 78% 44% 58% 80% 23% 12% 0% -18% -42% -14% -

0.00 0.00 0.48 0.00 0.00 0.00 0.00 0.00 0.09 0.63 0.00 0.00 0.00 0.02 0.00 0.01 0.22 0.00 0.04 0.88 1.35 1.57 2.43 2.28 2.84 4.35 3.48 6.33 4.91 8.32 10.31 0.05 456.15 495.84 419.41 182.23 166.68 55.37 237.66 36.01 100.01 6.97 87.37 0.00 12.05 2.26 2.74

-0.998 -1.000 -0.678 -1.000 -1.000 -1.000 -1.000 -1.000 -1.000 -0.871 -0.266 -0.338 -0.016 -0.066 -0.111 -0.228 -0.011 -0.245 -0.088 -0.098 0.215 -0.098 -

OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM OTM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM ITM OTM ITM ITM ITM ITM ITM ITM ITM OTM OTM OTM OTM OTM OTM ITM ITM

Valor Intrínseco

Cobertura %

Tasa Lanzam. %

0.16% 0.16% 4.01%

17.8% 20.5% 25.3%

0.04% 0.05% 0.08% 0.05%

25.7% 28.4% 31.1% 33.8%

0.05%

36.4%

0.03%

47.1%

414.95 414.95 314.95 174.95 14.95 14.95 14.95

44.85% 49.33%

13.8% 23.9%

13.45%

-2.6%

2.20 2.20

22.12%

3.4%

0.60 0.60 1.60 2.60 2.60 3.60 4.60 4.60 6.60 6.60 8.60 10.60

Delta

Gamma

Vega

Theta

Rho

Efecto Palanca

Volat. Implícita

Volumen

0.000 0.000 0.186 0.000 0.000 0.000 0.000 0.000 0.047 0.181 0.000 0.000 0.000 0.013 0.000 0.009 0.077 0.000 -0.053 -0.576 -0.362 -0.777 -0.907 -0.510 -0.582 -0.992 -0.650 -1.000 -0.767 -1.000 -1.000 0.378 0.972 0.946 0.899 0.967 0.647 0.598 0.688 0.455 0.468 0.131 0.426 0.000 -0.073 1.000 0.942

0.001 0.000 0.053 0.000 0.000 0.000 0.000 0.000 0.019 0.038 0.000 0.000 0.000 0.006 0.000 0.005 0.021 0.000 0.063 0.230 0.074 0.175 0.098 0.079 0.077 0.013 0.073 0.001 0.060 0.000 0.000 2.152 0.000 0.000 0.000 0.001 0.001 0.003 0.001 0.004 0.001 0.002 0.001 0.000 0.000 0.001 0.056

0.000 0.000 0.044 0.000 0.000 0.000 0.000 0.000 0.016 0.060 0.000 0.000 0.000 0.005 0.000 0.004 0.033 0.000 0.006 0.022 0.062 0.017 0.009 0.066 0.064 0.001 0.061 0.000 0.050 0.000 0.000 0.002 0.318 0.745 1.196 0.123 1.826 0.639 2.390 0.654 1.955 0.351 1.928 0.000 0.679 0.000 0.006

-0.001 0.000 -0.102 0.000 0.000 0.000 0.000 0.000 -0.034 -0.081 0.000 0.000 0.000 -0.011 0.000 -0.008 -0.041 0.000 -0.069 -0.171 -0.013 -0.057 0.072 0.015 0.035 0.206 0.057 0.235 0.105 0.246 0.257 -0.036 -4.430 -4.313 -5.232 -8.424 -9.022 -22.009 -7.035 -21.719 -8.727 -11.039 -8.453 0.000 -1.742 -0.049 -0.054

0.000 0.000 0.013 0.000 0.000 0.000 0.000 0.000 0.003 0.022 0.000 0.000 0.000 0.001 0.000 0.001 0.010 0.000 0.000 -0.005 -0.029 -0.007 -0.008 -0.042 -0.048 -0.009 -0.054 -0.010 -0.065 -0.010 -0.010 0.000 1.220 2.050 2.139 0.196 1.080 0.134 1.944 0.103 0.820 0.030 0.754 0.000 -0.181 0.002 0.015

86.79 96.65 14.36 106.45 116.16 125.76 135.23 144.56 18.73 10.76 153.76 162.82 180.52 22.18 189.16 23.02 12.83 596.15 51.26 24.47 10.02 18.47 13.97 8.38 7.65 8.53 6.99 5.91 5.85 4.50 3.63 26.21 2.38 2.13 2.39 5.91 4.33 12.04 3.23 14.10 5.21 20.97 5.43 51.26 6.72 5.01 3.89

61% 68% 50% 65% 73% 83% 84% 89% 99% 55% 45% 42% 32% 45% 86% 47% 63% 58% 50% 50% 50% 50% -

4005 9994 112375 4138 266 45 3665 686 150 13515 141735 58930 4220 104560 54501 9000 50950 50475 50000 55000 15000 9850 -

San Martin 323 Piso 11 C.A.B.A. - Argentina - Te. 4000-1400 - 0810-1222-IOL (465)

4

Reporte de Opciones

Subyacente

PESA

SAMI SEMI TECO2

TGNO4

TGSU2

TRAN

TS

YPFD

Precio

Serie

Tipo

Strike

Vto

Dias al Vto

Prima

% Var

Prima Teórica

Dif.vs Prima

Estado

11.30 11.30 11.30 11.30 11.30 11.30 11.30 11.30 11.30 11.30 11.30 11.30 11.30 11.30 11.30 9.15 9.15 9.15 55.00 55.00 4.00 49.00 49.00 49.00 7.55 7.55 7.55 18.75 18.75 18.75 18.75 6.49 6.49 6.49 6.49 171.50 171.50 171.50 171.50 171.50 171.50 171.50 171.50 238.50 238.50 238.50 238.50

PAMC9.90AB PAMC9.90JU PAMC10.7AB PAMC10.7JU PAMC11.5JU PAMC12.7AB PAMC12.7JU PAMC13.1AB PAMC13.1JU PAMC14.3AB PAMC14.3JU PAMC15.1AB PAMC15.5AB PAMV12.7AB PAMV12.7JU PSAC10.8AB PSAV9.55AB PSAV9.55JU SAMC50.0AB SAMC55.0AB SEMC3.70AB TECC52.6AB TECC52.6JU TECC52.6AG TGNC7.50AB TGNC8.00JU TGNC8.00AG TGSC17.5AB TGSC19.9AB TGSC19.9JU TGSC19.9AG TRAC5.80AG TRAC6.10JU TRAC7.30JU TRAC7.90AB TS.C165.AB TS.C175.AB TS.C185.AB TS.C195.AB TS.C205.AB TS.C205.JU TS.V145.AB TS.V175.JU YPFC200.JU YPFC200.AB YPFC220.JU YPFC220.AB

Call Call Call Call Call Call Call Call Call Call Call Call Call Put Put Call Put Put Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Call Put Put Call Call Call Call

9.900 9.900 10.700 10.700 11.500 12.700 12.700 13.100 13.100 14.300 14.300 15.100 15.500 12.700 12.700 10.800 9.550 9.550 50.000 55.000 3.700 52.600 52.600 52.600 7.500 8.000 8.000 17.500 19.900 19.900 19.900 5.800 6.100 7.300 7.900 165.000 175.000 185.000 195.000 205.000 205.000 145.000 175.000 200.000 200.000 220.000 220.000

AB JU AB JU JU AB JU AB JU AB JU AB AB AB JU AB AB JU AB AB AB AB JU AG AB JU AG AB AB JU AG AG JU JU AB AB AB AB AB AB JU AB JU JU AB JU AB

7.00 70.00 7.00 70.00 70.00 7.00 70.00 7.00 70.00 7.00 70.00 7.00 7.00 7.00 70.00 7.00 7.00 70.00 7.00 7.00 7.00 7.00 70.00 133.00 7.00 70.00 133.00 7.00 7.00 70.00 133.00 133.00 70.00 70.00 7.00 7.00 7.00 7.00 7.00 7.00 70.00 7.00 70.00 70.00 7.00 70.00 7.00

0.00 0.00 0.70 0.00 1.15 0.06 0.75 0.02 0.50 0.03 0.45 0.02 0.00 1.50 1.80 0.00 0.45 1.00 0.00 1.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 2.50 0.00 0.00 0.10 2.60 0.00 0.00 0.00 0.00 45.00 28.00

-54% -43% -60% -17% -60% -29% 25% 0% -10% 50% 38% -36% 0% -71% -38% -50% -16% -25% -20%

1.46 2.08 0.72 1.50 1.03 0.01 0.54 0.00 0.42 0.00 0.19 0.00 0.00 1.33 1.26 0.00 0.40 0.47 5.41 1.66 0.33 0.19 3.00 5.35 0.26 0.63 1.03 1.49 0.22 1.71 2.77 1.40 0.88 0.29 0.00 8.97 3.20 0.74 0.11 0.01 5.13 0.01 9.80 51.64 39.74 36.63 20.52

0.033 -0.104 -0.827 -0.286 -0.867 -0.158 -0.999 -0.573 -1.000 -0.112 -0.300 -0.113 -0.531 0.661 0.279 -0.898 0.973 -0.186 -0.267

ITM ITM ITM ITM OTM OTM OTM OTM OTM OTM OTM OTM OTM ITM ITM OTM ITM ITM ITM ATM ITM OTM OTM OTM ITM OTM OTM ITM OTM OTM OTM ITM ITM OTM OTM ITM OTM OTM OTM OTM OTM OTM ITM ITM ITM ITM ITM

Valor Intrínseco 1.40 1.40 0.60 0.60

Cobertura %

Tasa Lanzam. %

6.19%

0.9%

10.18% 0.53% 6.64% 0.18% 4.42% 0.22% 3.98% 0.16%

13.3% 13.0% 20.4% 16.1% 21.3% 26.8% 31.8% 33.8%

1.82%

1.9%

1.46%

3.6%

0.06% 1.52%

19.6% 21.4%

18.87% 11.74%

13.7% 4.5%

1.40 1.40 0.40 0.40 5.00 0.30

0.05

1.25

0.69 0.39

6.50

3.50 38.50 38.50 18.50 18.50

Delta

Gamma

Vega

Theta

Rho

Efecto Palanca

Volat. Implícita

Volumen

0.989 0.867 0.846 0.755 0.616 0.038 0.402 0.011 0.338 0.000 0.185 0.000 0.000 -0.962 -0.598 0.001 -0.769 -0.439 0.937 0.550 0.922 0.137 0.497 0.601 0.585 0.536 0.618 0.840 0.262 0.538 0.617 0.845 0.774 0.393 0.001 0.773 0.423 0.139 0.027 0.003 0.284 -0.002 -0.390 0.897 0.997 0.784 0.911

0.042 0.104 0.342 0.152 0.185 0.120 0.187 0.043 0.177 0.001 0.129 0.000 0.000 0.120 0.187 0.004 0.690 0.300 0.033 0.106 0.602 0.078 0.047 0.033 0.727 0.249 0.174 0.165 0.220 0.090 0.063 0.152 0.264 0.338 0.006 0.028 0.037 0.021 0.006 0.001 0.011 0.001 0.012 0.004 0.001 0.006 0.010

0.000 0.011 0.004 0.016 0.019 0.001 0.019 0.000 0.018 0.000 0.013 0.000 0.000 0.001 0.019 0.000 0.004 0.016 0.010 0.032 0.001 0.016 0.086 0.115 0.004 0.013 0.017 0.007 0.009 0.033 0.043 0.009 0.009 0.011 0.000 0.077 0.099 0.056 0.016 0.002 0.256 0.002 0.290 0.188 0.003 0.309 0.057

-0.061 -0.063 -0.120 -0.070 -0.071 -0.027 -0.061 -0.010 -0.056 0.000 -0.037 0.000 0.000 0.041 0.004 0.000 -0.019 -0.001 -0.452 -0.801 -0.034 -0.307 -0.281 -0.246 -0.114 -0.050 -0.041 -0.234 -0.235 -0.131 -0.108 -0.032 -0.039 -0.034 0.000 -2.079 -2.208 -1.164 -0.317 -0.048 -0.767 -0.033 -0.190 -1.290 -1.125 -1.491 -2.178

0.002 0.015 0.002 0.014 0.012 0.000 0.008 0.000 0.007 0.000 0.004 0.000 0.000 -0.003 -0.016 0.000 -0.002 -0.009 0.010 0.006 0.001 0.001 0.042 0.088 0.001 0.007 0.013 0.003 0.001 0.016 0.032 0.015 0.008 0.004 0.000 0.027 0.015 0.005 0.001 0.000 0.085 0.000 -0.149 0.316 0.043 0.292 0.043

7.64 4.72 13.23 5.68 6.75 41.55 8.48 48.33 9.07 68.80 10.88 82.11 88.62 8.16 5.36 79.49 17.62 8.57 9.52 18.19 11.13 35.04 8.12 5.50 16.74 6.47 4.53 10.60 21.83 5.91 4.17 3.91 5.73 8.87 63.92 14.79 22.70 32.33 42.85 53.68 9.48 53.07 6.83 4.14 5.99 5.10 10.58

35% 48% 62% 52% 57% 46% 87% 58% 98% 89% 69% 44% 66% 25% 35% 55% 32% 70% 50%

1400 4370 26281 97738 4008 29300 194 9675 635 1650 2880 1125 2500 500 4990 60 4220 18000 2800

San Martin 323 Piso 11 C.A.B.A. - Argentina - Te. 4000-1400 - 0810-1222-IOL (465)

5

Reporte de Opciones

Subyacente

Precio

Serie

Tipo

Strike

Vto

Dias al Vto

Prima

% Var

Prima Teórica

Dif.vs Prima

Estado

238.50 238.50 238.50 238.50 238.50 238.50 238.50 238.50 238.50

YPFC240.AB YPFC240.JU YPFC260.AB YPFC280.AB YPFC300.AB YPFC320.AB YPFV220.AB YPFV240.JU YPFV280.AB

Call Call Call Call Call Call Put Put Put

240.000 240.000 260.000 280.000 300.000 320.000 220.000 240.000 280.000

AB JU AB AB AB AB AB JU AB

7.00 70.00 7.00 7.00 7.00 7.00 7.00 70.00 7.00

0.00 0.00 1.00 0.00 0.00 0.00 0.00 0.00 0.00

-75% -

6.29 24.50 0.91 0.06 0.00 0.00 0.67 13.23 39.84

-0.094 -

OTM OTM OTM OTM OTM OTM OTM ITM ITM

Valor Intrínseco

Cobertura %

0.42%

1.50 41.50

Tasa Lanzam. %

9.5%

Delta

Gamma

Vega

Theta

Rho

Efecto Palanca

Volat. Implícita

Volumen

0.513 0.634 0.120 0.011 0.000 0.000 -0.089 -0.366 -0.989

0.025 0.008 0.013 0.002 0.000 0.000 0.010 0.008 0.002

0.141 0.396 0.071 0.010 0.001 0.000 0.057 0.396 0.010

-3.383 -1.557 -1.531 -0.212 -0.011 0.000 -1.000 -0.332 1.287

0.025 0.247 0.006 0.001 0.000 0.000 -0.005 -0.195 -0.060

19.42 6.18 31.54 45.03 58.71 72.11 31.70 6.59 5.92

46% -

900 -

San Martin 323 Piso 11 C.A.B.A. - Argentina - Te. 4000-1400 - 0810-1222-IOL (465)

6

Glosario Subyacente: acción o bono al cual está vinculada la opción respectiva. Precio: Es el precio de cierre de la acción/bono subyacente. Tipo: Call (opción de compra) / Put (opción de venta). Strike: Precio de ejercicio de la opción. Días al Vto: Días corridos desde la fecha de análisis hasta el vencimiento de la opción. Vto: es el mes en el cual vence la opción. Prima: Último precio de la opción negociado en el mercado. % Var: Variación de la prima con relación al precio de cierre inmediato anterior. Prima Teórica: Valor teórico de la opción de acuerdo al modelo de valuación de Black and Scholes. Se utiliza la volatilidad historica de las ultimas 40 ruedas. Dif. Vs Prima: relación porcentual entre la prima teórica y el precio de mercado. Estado: Indica si la opción está OTM (Out of the money) / ITM (In the money) / ATM (At the money). En castellano se define como No ejercible/ Ejercible / Indiferente a ejercer. Valor intrínseco: Es la diferencia entre el precio de mercado y el precio de ejercicio. Sólo se consigna en las opciones ejercibles (ITM). Cobertura: Es la relación de la prima con respecto al precio de mercado del subyacente. Tasa Lanzam.: Es la tasa estimada de ganancia en el caso de haber realizado un lanzamiento y ser ejercido. Se computa como el ratio entre el precio de ejercicio del lanzamiento y la diferencia del precio de mercado del acción y la prima de la opción. Sólo aplica para las opciones de compra. Delta: Letra griega que indica la variación teórica medida en pesos de la prima ante una variación en el subyacente de un peso. Gamma: Letra griega que indica la variación teórica del Delta ante una variación de una unidad en el subyacente. Vega: Letra griega que indica la variación teórica de la prima ante un cambio de una unidad en la volatilidad. Theta: Letra griega que indica la variación teórica de la prima ante el paso del tiempo en días. Rho: Letra griega que indica la variación teórica de la prima ante un cambio de un punto en la tasa de interés. Efecto Palanca: Mide el grado de apalancamiento de la opción. Es el retorno relativo a obtener por invertir en la opción ante la variación del activo subyacente de un peso. Volatilidad implícita: Es la volatilidad que se deduce del modelo de valuación de Black and Scholes, tomando como parámetro el precio de mercado de la opción y como incógnita la volatilidad. Volumen: Monto total operado. San Martin 323 Piso 11 C.A.B.A. - Argentina - Te. 4000-1400 - 0810-1222-IOL (465)

Cláusula Legal Este reporte tiene el propósito de brindar información para generar debate. Mientras no esté especificado el mismo no constituye ninguna oferta o recomendación de compra o venta de los instrumentos financieros mencionados. Por otro lado, este reporte no tiene en cuenta los objetivos de inversión y/o la situación financiera de ninguna persona en particular. Los Asesores Financieros relacionados a invertirOnline.com pueden ofrecer sus opiniones o perspectivas concernientes a lo apropiado de la naturaleza de determinadas estrategias de inversión; sin embargo, es finalmente el usuario o cliente el responsable último de las decisiones de inversión que adopta debiendo estar tales decisiones basadas únicamente en sus circunstancias económicas, objetivos financieros, tolerancia al riesgo y necesidades de liquidez personales. Las inversiones en activos financieros y otros productos conllevan riesgos, incluyendo la perdida de capital significativa. Los riesgos incluyen pero no están limitados a: riesgo de tasa de interés, riesgos de liquidez, de tipo de cambio y el riesgo específico de la empresa y/o sector. Este documento contiene información histórica y prospectiva. Los rendimientos pasados no son garantía o indicativo de resultados futuros. Todos los precios, valores o estimaciones generadas en este reporte (excepto aquellos identificados como históricos) son con fines indicativos. Todos los datos utilizados en este reporte están basados en fuentes que se consideran confiables y de buena fe, pero no implican garantía implícita o explícita de su precisión y completitud. Mayor información al respecto se encuentra disponible de ser requerida. Conflictos de Interés Hemos implementado y mantenemos implementando un período de restricción de 2 semanas sobre las carteras administradas previo a la emisión de un reporte de manera de evitar la compra/venta de acciones específicas que se encuentran involucrados en el presente research. Los analistas involucrados en la creación de este research pueden tener intereses directos o indirectos dentro de las posiciones mencionadas en este reporte. En caso de ser así en el siguiente cuadro se listarán aquellos activos en que los analistas tienen posiciones y la naturaleza de las mismas. Fecha de Posición

Alejandro Bianchi, CFA Gerente de Inversiones @aleebianchi fb.com/alejandro.emilio.bianchi

Flavia Matsuda Analista Cuantitativo @FlaviaMatsuda [email protected]

Analista

Posisición

Manuel Carpintero Asesor Financiero (54 11) 4000 1400 [email protected]

Activo

María Fernanda Lázaro Asesor Financiero (54 11) 4000 1400 [email protected]

San Martin 323 Piso 11 C.A.B.A. - Argentina - Te. 4000-1400 - 0810-1222-IOL (465)

Ignacio Muneta Asesor Financiero (54 11) 4000 1400 [email protected]