We are adding to our April Portfolio #1 with the following credit spread.
We are recommending a credit spread in the following issue for Portfolio #1.
TCK - Teck Resources Limited (Teck) is engaged in exploring for, developing and producing natural resources. The Companyâ€™s activities are organized into business units focused on copper, coal, zinc and energy. Teckâ€™s principal products are copper, steelmaking coal and zinc. Lead, molybdenum, silver and various specialty and other metals, chemicals and fertilizers are by-products produced at its operations. The Company owns a 20% interest in the Fort Hills Energy Limited Partnership, which is developing the Fort Hills oil sands project in Alberta, and a 50% interest in certain other oil sands leases in the Athabasca region of Alberta. Teck is also active in exploration for gold. On January 25, 2010, the Company sold its 60% interest in the Agi Dagi and Kirazli gold projects in Turkey to Alamos Gold Incorporated (Alamos). On September 22, 2010, Teck signed a joint venture agreement with Suncor Energy Products Inc. (Suncor Energy) to develop the Wintering Hills wind power project.
We are recommending the following specific credit spreads for Portfolio #1.
Put credit spreads = bullish put spreads.