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

We are recommending credit spread on the following issues.

ESI - ITT Educational Services, Inc. provides postsecondary degree programs in the United States. The company offers master, bachelor, associate, and career-oriented education programs in various fields, such as information technology, electronics technology, drafting and design, business, criminal justice, and health sciences. Its information technology programs include network administration, technical support, network technology, and systems technology; and electronics technology programs comprise electronics product design and fabrication, communications, computer technology, industrial electronics, instrumentation, and telecommunications. The companyÂ’s drafting and design programs comprise computer aided drafting, electrical and electronics drafting, mechanical drafting, architectural and construction drafting, civil drafting, interior design, landscape architecture, and multimedia communications; business programs include accounting, business administration, financial services, marketing and advertising, and manufacturing; and criminal justice programs consist of corrections, security and policing, investigations, and cyber security.

TWO IRON CONDORS PLAYS.

TIF and JOYG

These spreads, along with our existing put spreads on JOYG and TIF when filled will create an iron condor on our JOY and TIF positions.

These spreads will not require any additional margin requirements to be met.

We are recommending the following specifc credit spreads.

Call credit spreads = bearish call spreads.

NOTE: I was going to suggest several SUPPLEMENTAL plays, however the JUNE recommendations will be starting next weekend and I don't want you to have too much additional margin tied up so you would not have enough margin to put on the new JUNE plays.

So I will hold off on Supplemental plays this weekend.