The local content of bipartite qubit correlations

One of the last open problems concerning two qubits in a pure state is to find the exact local content of their correlation, in the sense of Elitzur, Popescu and Rohrlich (EPR2) [Phys. Lett. A 162, 25 (1992)]. We propose a new EPR2 decomposition that allows us to prove, for a wide range of states psi(theta)=cos(theta)|00>+sin(theta)|11>, that their local content is pL(theta)=cos(2theta). We also share reflections on how to possibly extend our result to all two-qubit pure states.