We are starting off the March option cycle with the following recommendations.

We are recommending credit spreads in the following issues.

INFY - Infosys Technologies Limited provides information technology (IT) and consulting services worldwide. It offers IT services, such as application, architecture, independent validation and testing, information management, infrastructure, packaged application, SOA, systems integration, and knowledge services; product engineering services, manufacturing process and plant solutions, and product lifecycle management services; and consulting services in the areas of information and technology strategies, product innovation, next generation commerce, process excellence, and learning and complex change. The company also provides business process outsourcing solutions in the areas of business platforms, customer service outsourcing, finance and accounting, human resources outsourcing, legal services, sales and fulfillment, and sourcing and procurement outsourcing. In addition, it offers collaborative analytics solutions; digital consumer platform; Finacle universal banking solution; iProwe, a Web accessibility assessment product; mConnect, a real-time enterprise middleware; and research and analytical support services.

ACI - Arch Coal, Inc. engages in the production and sale of steam and metallurgical coal from surface and underground mines to power plants, steel mills, and industrial facilities in the United States. As of December 31, 2009, the company operated 19 active mines; and owned or controlled approximately 3.9 billion tons of estimated proven and probable recoverable reserves. It owned or controlled primarily through long-term leases, approximately 100,100 acres of coal land in West Virginia; 107,800 acres of coal land in Wyoming; 98,900 acres of coal land in Illinois; 72,100 acres of coal land in Utah; 46,200 acres of coal land in Kentucky; 21,800 acres of coal land in New Mexico; and 18,500 acres of coal land in Colorado.

AMGN - Amgen Inc., a biotechnology medicines company, discovers, develops, manufactures, and delivers human therapeutics based on advances in cellular and molecular biology primarily in the United States, Europe, and Canada. The company markets primarily recombinant protein therapeutics in supportive cancer care, nephrology, and inflammation. Its principal products include Aranesp and EPOGEN erythropoietic-stimulating agents that stimulate the production of red blood cells; Neulasta and NEUPOGEN, which selectively stimulate the production of neutrophils, a type of white blood cell that helps the body fight infections; and Enbrel, an inhibitor of tumor necrosis factor that plays a role in the bodyÂ’s response to inflammatory diseases.

AMSC - American Superconductor Corporation, a power technologies company, provides wind turbine designs and electrical control systems primarily in North America, Europe, and the Asia-Pacific. The company also offers a host of smart grid technologies, including superconductor power cable systems, grid-level surge protectors, and power electronics-based voltage stabilization systems for power grid operators. It operates through two segments, AMSC Power Systems and AMSC Superconductors. The AMSC Power Systems segment produces a range of products to enhance electrical grid capacity and reliability; provides electrical control systems or a subset of those systems to manufacturers of wind turbines; and sells power electronic products that regulate wind farm voltage to enable their interconnection to the power grid. It also licenses proprietary wind turbine designs to manufacturers of such systems; and provides consulting services to the wind industry, as well as products that enhance power quality for industrial operations.

AKAM - Akamai Technologies, Inc. provides services for accelerating and improving the delivery of content and applications over the Internet in the United States and internationally. The company offers Application Performance solutions that improve the performance of dynamic applications used by enterprises to connect with their employees, suppliers, and customers. Its Application Performance solutions include Web Application Accelerator, which enables enterprises to run various applications; and IP Application Accelerator that is designed to address core Internet weaknesses to optimize the performance and real-time sensitivity associated with IP-enabled applications delivered over Internet-related protocols. It also provides Digital Asset solutions that enable enterprises to execute their large file management and distribution strategies.

HON - Honeywell International Inc. operates as a diversified technology and manufacturing company worldwide. Its Aerospace segment provides turbine propulsion engines, auxiliary power units, environmental control systems, electric power systems, engine systems and accessories, avionics systems, aircraft and obstruction lighting systems, inertial sensor systems, control products, space products and subsystems, management and technical services, and landing systems for aircraft manufacturers, airlines, business and general aviation, military, space, and airport operations. The companyÂ’s Automation and Control Solutions segment offers environmental and combustion controls; sensing controls; security and life safety products and services; scanning and mobility devices; process automation products and solutions; and building solutions and services for homes, buildings, and industrial facilities. Its Specialty Materials segment provides resins and chemicals, hydrofluoric acid, fluorocarbons, fluorine specialties, nuclear services, research and fine chemicals, performance chemicals, imaging chemicals, chemical processing sealants, fibers and composites, specialty films, specialty additives, electronic chemicals, semiconductor materials and services, catalysts, adsorbents, specialties, and renewable fuels and chemicals for various applications in the refining, petrochemical, automotive, healthcare, agricultural, packaging, refrigeration, appliance, housing, semiconductor, wax, and adhesives segments, as well as offers process technology and equipment for the petrochemical and refining industries.

PRU - Prudential Financial, Inc. through its subsidiaries, provides various financial products and services in the United States, Asia, Europe, and Latin America. The company operates through three divisions: The U.S. Retirement Solutions and Investment Management, The U.S. Individual Life and Group Insurance, and The International Insurance and Investments. The U.S. Retirement Solutions and Investment Management division offers individual variable and fixed annuity products, as well as provides retirement investment and income products and services to retirement plan sponsors in the public, private, and not-for-profit sectors. This division also provides investment management and advisory services to the public and private marketplace. The U.S. Individual Life and Group Insurance division provides individual variable life, term life, and universal life insurance products; and group life, long-term and short-term group disability, long-term care, and group corporate-owned and trust-owned life insurance products to institutional clients. It also sells accidental death and dismemberment, and other ancillary coverages, as well as provides plan administrative services.

WFMI - Whole Foods Market, Inc. engages in the ownership and operation of natural and organic food supermarkets. The company offers seafood, grocery, meat and poultry, bakery, prepared foods and catering, coffee and tea, nutritional supplements, and vitamins. It also offers specialty products, such as beer, wine, and cheese; and body care and educational products, such as books, as well as floral, pet, and household products.

We are recommending the following specific credit spreads.

call credit spreads = bearish call spreads.

Put credit spreads = bullish put spreads.