RATIONAL ADVISORS, INC.

Holdings History for IPATH S&P 500 - OPTIONS - Put

Investment type: Equity / OPTIONS

Holdings date	Option	Weight	Change	Value $	Shares	Change	Activity %	Price	All Holders
31 Mar 2012	put		-39%	$0	0	-46,500	-100%		Q1 2012
31 Dec 2011	put	39%	0%	$2,821,000	46,500	0		$60.67	Q4 2011
30 Sep 2011	put	39%	+1.3%	$3,404,000	46,500	+1,500	+3.3%	$73.20	Q3 2011
30 Jun 2011	put	28%	0%	$2,267,000	45,000	0		$50.38	Q2 2011
31 Mar 2011	put	28%	+28%	$2,477,000	45,000	+45,000	NEW	$55.04	Q1 2011

* Reported Price is the price of the security as of the portfolio date. This value is significant in that it is the last known price at which the security was still held.
An asterisk sign (*) next to the price indicates that the price is likely invalid.