we are adding to our February 2012 recommended list the following credit spreads.

We are recommending credit spreads in the following issues.

JOY -Joy Global Inc. engages in the manufacture and servicing of mining equipment for the extraction of coal, copper, iron ore, oil sands, and other minerals. The company operates in two segments, Underground Mining Machinery and Surface Mining Equipment. The Underground Mining Machinery segment produces continuous miners, longwall shearers, powered roof supports, armored face conveyors, shuttle cars, flexible conveyor trains, roof bolters, battery haulers, continuous haulage systems, feeder breakers, conveyor systems, high angle conveyors, and crushing equipment, as well as rebuilds and services equipment; and sells replacement parts and consumables in support of installed base. The Surface Mining Equipment segment produces electric mining shovels, loaders, walking draglines, and rotary blasthole drills for open-pit mining operations.

MON - Monsanto Company, together with its subsidiaries, provides agricultural products for farmers in the United States and internationally. It operates in two segments, Seeds and Genomics, and Agricultural Productivity. The Seeds and Genomics segment produces corn, soybean, canola, and cotton seeds, as well as vegetable seeds, including tomato, pepper, melon, cucumber, pumpkin, squash, beans, broccoli, onions, and lettuce seeds. This segment also develops biotechnology traits that assist farmers in controlling insects and weeds, as well as provides genetic material and biotechnology traits to other seed companies. The Agricultural Productivity segment offers glyphosate-based herbicides for agricultural, industrial, ornamental, and turf applications; lawn-and-garden herbicides for residential lawn-and-garden applications; and other herbicides for the control of preemergent annual grass and small seeded broadleaf weeds in corn and other crops.

UTX - United Technologies Corporation provides technology products and services to the building systems and aerospace industries worldwide. The companyÂ’s Otis segment designs, manufactures, sells, and installs passenger and freight elevators, escalators, and moving walkways, as well as provides maintenance and repair services. Its Carrier segment offers heating, ventilating, air conditioning, and refrigeration systems, controls, services, and energy-efficient products for residential, commercial, industrial, and transportation applications. The companyÂ’s UTC Fire and Security segment provides electronic security products comprising intruder alarms, and access control and video surveillance systems; fire safety products, such as specialty hazard detection and fixed suppression products, fire extinguishers, fire detection and life safety systems, and other firefighting equipment; systems integration, video surveillance, installation, maintenance, and inspection services; and monitoring, response, and security personnel services. Its Pratt and Whitney segment supplies aircraft engines for the commercial, military, business jet, and general aviation markets; industrial gas turbines; geo thermal power systems; and space propulsion systems, as well as provides fleet management, maintenance, repair, and overhaul services.

We are recommending the following specific credit spreads.

Put credit spreads = bullish put spreads.