We are adding the following credit spreads to our June recommended list.

We are recommending credit spreads in the following issues.

SHLD - Sears Holdings Corporation operates as a broadline retailer in the United States and Canada. Its Kmart segment operates stores that sell general merchandise under Jaclyn Smith and Joe Boxer labels, as well as Sears brand products, such as Kenmore, Craftsman, and DieHard. Its stores offer home appliances; footwear; groceries; and automotive accessories, repair, and maintenance services, as well as operate in-store pharmacies. The Kmart also sells its products through its kmart.com Web site. The companyÂ’s Sears Domestic segment operates stores that offer merchandise categories, including home appliances, consumer electronics, tools, and fitness, lawn, and garden equipment; automotive services and products; home fashion products; and apparel, and footwear and accessories. Its stores also sell health and beauty products, pantry goods, household products, and toys.

UNH - United Health Group Incorporated provides healthcare services in the United States. The companyÂ’s Health Benefits segment offers consumer-oriented health benefit plans and services; administrative and other management services; and non-employer based insurance options for purchase by individuals. It also provides health and well-being services for individuals aged 50 and older, as well as to large national employers, public sector employers, mid-sized employers, small businesses, and individuals; health insurance products and services; and network-based health and well-being services to beneficiaries and other government-sponsored health care programs.

CELG - Celgene Corporation discovers, develops, and commercializes innovative therapies to treat cancer and immune-inflammatory diseases in the United States, Europe, and internationally. Its commercial stage products include REVLIMID for the treatment in combination with dexamethasone for multiple myeloma patients, as well as patients with transfusion-dependent anemia; and THALOMID to treat, in combination with dexamethasone, patients with newly diagnosed multiple myeloma, as well as for the prevention and suppression of cutaneous manifestations of erythema nodosum leprosum recurrence.

DOW - The Dow Chemical Company engages in the manufacture and sale of chemicals, plastic materials, agricultural, and other products and services worldwide. The companyÂ’s Electronic and Specialty Materials segment offers materials for chemical mechanical planarization pads and slurries, chemical processing and intermediates, electronic displays, food and pharmaceutical processing and ingredients, PCB materials, semiconductor packaging, connectors and industrial finishing, and water purification

COF - Capital One Financial Corporation operates as the bank holding company for the Capital One Bank (USA), National Association and Capital One, National Association, which provide various financial products and services to consumers, small businesses, and commercial clients in the United States, Canada, and the United Kingdom. It offers various deposits products comprising non-interest bearing deposits, NOW accounts, money market deposit accounts, savings accounts, and certificates of deposits. The company also involves in consumer and small business card lending, closed end installment lending, automobile lending, consumer mortgage lending, and servicing activities. In addition, it offers treasury management services to commercial real estate and middle market customers.

We are recommending the following specific credit spreads.

call credit spreads = bearish credit spreads.