We are adding the following spreads to the March Portfolio #1.

We are recommending credit spreads in the following issues.

EA - Electronic Arts Inc. develops, markets, publishes, and distributes game software and content for video game consoles, personal computers, mobile phones, tablets and electronic readers, hand held game players, and the Internet. The company provides games, and related content and services marketed under the EA brand in various categories, such as action-adventure, role playing, racing, and first-person shooter games, as well as massively-multiplayer online role-playing games. It also offers a collection of sports-based video games, such as simulated sports based on real-world sports leagues, players, events, and venues, as well as casual games with arcade-style gameplay and graphics under EA SPORTS label. In addition, the company provides compelling games and related content and services for a mass audience under EA Play Label, as well as develops Harry Potter videogames. Further, it offers casual games, such as cards, puzzles, and word games through its Pogo online service; and digital content and Internet-based advertising services, as well as develops and publishes games for mobile devices; and digital games, including MONOPOLY, SCRABBLE, YAHTZEE, NERF, and LITTLEST PET SHOP.

MCP - Molycorp, Inc., a development stage company, focuses on the production and sale of rare earth oxides from stockpiled feedstocks in the western hemisphere. The company operates the Mountain Pass mine, a non-Chinese rare earth deposit located in San Bernardino County, California. Its rare earth products are used as inputs in various existing and emerging applications comprising clean energy technologies; multiple high-tech uses; defense applications; and water treatment technology. The company was founded in 2008 and is headquartered in Greenwood Village, Colorado.

X - United States Steel Corporation produces and sells steel mill products in North America and Central Europe. It operates in three segments: Flat-rolled Products (Flat-rolled), U. S. Steel Europe (USSE), and Tubular Products (Tubular). The Flat-rolled segment offers slabs, rounds, strip mill plates, sheets, and tin mill products, as well as iron ore and coke. This segment serves service center, conversion, transportation, construction, container, and appliance and electrical markets in North America. 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. This segment serves the European construction, service center, conversion, container, transportation, and appliance and electrical, as well as and oil, gas, and petrochemical markets.

We are recommending following specific credit spreads.

Bear credit spreads = bearish call spreads.