We are adding the following May recommendations to Portfolio #2.

We are recommending credit spreads in the following issues.

BIDU - Baidu, Inc. provides Internet search services. The company offers a Chinese language search platform on its Website, Baidu.com; and a Japanese language search platform on its Website, Baidu.jp. Its search services enable users to find relevant information online, including Web pages, news, images, documents, and multimedia files through the links provided on its Websites. The company also offers search products and Web directory; online search-based community products; mobile search and related products; products and tools for Website owners and customers; e-commerce and entertainment products; and software and related search products, as well as other products and services. In addition, it provides online marketing and auction-based P4P services that enable its customers to reach users who search for information related to their products or services.

We are recommending the following specific credit spreads.

Call Credit spreads = Bearish call spreads.

We are adding the following May recommendations to Portfolio #1.

We are recommending credit spreads in the following issues.

GRPN - Groupon, Inc., together with the subsidiaries, operates as a local commerce marketplace that connects merchants to consumers by offering goods and services at a discount in North America and internationally. The company sends daily emails to its subscribers regarding discounted offers for goods and services that are targeted by location and personal preferences. Consumers also access its deals directly through the companyÂ’s Websites and mobile applications. The company was founded in 2008 and is headquartered in Chicago, Illinois.

DMND - Diamond Foods, Inc. engages in processing, marketing, and distributing snack products. It provides snack products, including roasted, glazed and flavored nuts, trail mixes, dried fruit, seeds, microwave popcorn products, and potato and tortilla chips under the Emerald, Pop Secret, and Kettle brands. The company also offers culinary, in-shell, and ingredient nuts under the Diamond of California brand name. It markets its culinary nuts to individuals who prepare meals or baked goods at home; and ingredient nuts to food processors, restaurants, bakeries, and food service companies and their suppliers. The company sells its products directly to national grocery, mass merchandiser, clubs, convenience stores, and drug store chains in the United States, the United Kingdom, Germany, the Netherlands, Spain, Canada, South Korea, Turkey, China, and Japan. Diamond Foods, Inc. was founded in 1912 and is based in San Francisco, California.

NTAP - NetApp, Inc. engages in the design, manufacturing, marketing, and technical support of networked storage solutions. It supplies enterprise storage and data management software, and hardware products and services. The company offers Data ONTAP, an operating system that supports storage area network (SAN) and network-attached storage (NAS) environments; storage efficiency technologies, including FlexVol, FlexClone, and Deduplication technologies; storage management and application integration software, such as OnCommand management software; fabric-attached storage unified storage systems, which support a range of data for users on various platforms; and virtual storage tier; V-Series network-based virtualization solutions that provide SAN and NAS access to the data stored in heterogeneous storage arrays. It also provides data protection software products, including Snapshot, SnapRestore, SnapVault, and Open Systems SnapVault techologies; MetroCluster products; and SnapMirror data replication solution. In addition, the company offers data retention and archive products, and Flash Cache modules; and storage security products for data security and key management in IP SAN, NAS, and tape backup environments; StorageGRID that enables intelligent data management and secure content retention; and professional services, global support solutions, and customer education and training. It serves energy, financial services, government, high technology, Internet, life sciences and healthcare services, manufacturing, media, entertainment, animation and video postproduction, and telecommunications industries.

We are recommending the following specific credit spreads.

Call Credit spreads = Bearish call spreads.