We are recommending the following credit spreads to start off the June expiration.
We are recommending credit spreads in the following issues.
RIMM - Research in Motion is a world leader in the mobile communications market and has a history of developing breakthrough wireless solutions. RIM's portfolio of award-winning products, services and embedded technologies are used by thousands of organizations around the world and include the BlackBerry wireless platform, the RIM Wireless Handheld product line, software development tools, radio-modems and software/hardware licensing agreements.
BHP - BHP Billiton Limited , together with its subsidiaries, operates as a diversified natural resources company in Australia, the Americas, and southern Africa. The company explores for and produces crude petroleum oil and liquefied natural gas; mines bauxite, refines bauxite into alumina, and smelts alumina into aluminum metal; mines various base metals, including copper, silver, lead, zinc, and uranium; explores and produces diamonds, titanium minerals, and potash; supplies nickel to the stainless steel industry; and explores iron, manganese, metallurgical coal, and thermal or steaming coal. BHP Billiton Limited was founded in 1885 and is headquartered in Melbourne, Australia.
X - United States Steel Corporation , through its subsidiaries, engages in the production and sale of steel products primarily in North America and Europe. The company operates through three segments: Flat-rolled Products, U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-rolled Products segment offers slabs, rounds, strip mill plates, sheets, and tin mill products. This segment serves service center, conversion, transportation, construction, container, and appliance and electrical markets in North America. It also produces iron ore pellets and coke. The USSE segment offers slabs, sheets, strip mill plates, tin mill products, and spiral welded pipes, as well as heating radiators and refractory ceramic materials in Europe.
SLB - Schlumberger Limited and its subsidiaries supply technology, integrated project management, and information solutions to the oil and gas industry worldwide. The company operates in two segments, Oilfield Services and WesternGeco. The Oilfield Services segment provides a range of exploration and production services required during the life of an oil and gas reservoir. It offers Wireline technologies comprising open-hole and cased-hole services; directional-drilling, measurement-while-drilling, and logging-while-drilling services; exploration and production pressure and flow-rate measurement services at the surface and downhole; services used during oil and gas well drilling and completion; and services used to maintain optimal production throughout the life of a well.
DO - Diamond Offshore Drilling, Inc. operates as an offshore oil and gas drilling contractor worldwide. The company provides offshore drilling services in the deepwater, harsh environment, conventional semisubmersible, and jack-up markets to independent oil and gas companies and government-owned oil companies. As of December 31, 2009, it operated a fleet of 47 offshore rigs consisting of 32 semisubmersibles, 14 jack-ups, and 1 drillship. The company was founded in 1989 and is headquartered in Houston, Texas. Diamond Offshore Drilling, Inc. is a subsidiary of Loews Corporation.
PCX - Patriot Coal Corporation engages in the production and sale of thermal coal in the United States. It has operations and coal reserves in Appalachia and the Illinois basin. The company provides its thermal coal to electric utilities, as well as metallurgical coal to steel mills and independent coke producers. It has 14 company-operated mines, contractor-operated mines, and coal preparation facilities that are located in West Virginia and Kentucky. As of December 31, 2009, the company controlled approximately 1.8 billion tons of proven and probable coal reserves. Patriot Coal Corporation, through its subsidiary, Magnum Coal Company, operates 8 mining complexes with production from surface and underground mines located in Appalachia, as well as controls approximately 600 million tons of proven and probable coal reserves.
We are recommending the following specific credit spreads.
Call credit spreads = bearish call spreads.
We may be adding 1 or 2 more May plays today, if they are available.
If we do, you will receive an email later this evening.