We are adding the following positions to our recommended list.

We are recommending credit spreads in the following issues.

PENN - Penn National Gaming, Inc. are a diversified gaming and pari-mutuel wagering company. Their business strategy is focused on exploiting the higher margins and more stable cash flows associated with gaming operations compared to pari-mutuel operations.

ILMN - Illumina Inc. is a leading developer of next-generation tools for the large-scale analysis of genetic variation and function. The company's tools will provide information that could be used to improve drugs and therapies, customize diagnoses and treatment, and cure disease. The company is developing a comprehensive line of products that can address the scale of experimentation and the breadth of functional analysis required to achieve the goals of molecular medicine.

IDCC - InterDigital, Inc., through its subsidiaries, engages in the design and development of digital wireless technologies for use in cellular and wireless IEEE 802 related products. The company licenses its technologies to semiconductor companies, and producers of wireless equipment and components, such as 2G, 2.5G, 3G, and IEEE 802 products worldwide. It also offers its SlimChip family of mobile broadband modem solutions to mobile device manufacturers, semiconductor companies, and other equipment producers that manufacture, use, and sell digital cellular products.

MRVL - Illumina Inc. is a leading developer of next-generation tools for the large-scale analysis of genetic variation and function. The company's tools will provide information that could be used to improve drugs and therapies, customize diagnoses and treatment, and cure disease. The company is developing a comprehensive line of products that can address the scale of experimentation and the breadth of functional analysis required to achieve the goals of molecular medicine.

We are recommending the following specific credit spreads.
Call credit spreads = bearish call spreads.

@ recommendations with a difference of 3 in their strike prices or less will not have a STOP price as the maximum different between the strike prices and the premium received will be the maximum exposure.

In regards to the FE position, we will need to see how we open on Monday.

If we gap open we might have a problem, however we will not rush to cover in a panic. We will wait to see where we trade after the opening and make an adjustment as to the potential exit strategy by email during the day on Monday, if necessary.

So look for email tomorrow regarding how we will handle the FE position.