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

We are recommending credit spreads in the following issues.

FIO - Fusion-io, Inc. engages in the development, marketing, and sale of storage memory platforms for data decentralization in the United States. Its platforms enhance the processing capabilities within a datacenter by relocating process-critical or active data from centralized storage to the server where it is being processed. The companyÂ’s storage memory platform includes ioDrive and ioCache products; directCache data-tiering software; ioTurbine virtualization software; and ioSphere platform management software. It sells its products through its direct sales force, original equipment manufacturers, resellers, and other channel partners in the United States, the United Kingdom, Germany, Japan, Hong Kong, Singapore, Korea, Australia, Canada, France, China, Italy, Denmark, and the Netherlands. The company was formerly known as Fusion Multisystems, Inc and changed its name to Fusion-io, Inc. in June 2010. Fusion-io, Inc. was founded in 2005 and is headquartered in Salt Lake City, Utah.

RVBD - Riverbed Technology, Inc. provides solutions to the fundamental problems associated with information technology performance across wide area networks (WANs) in the United States and internationally. It primarily offers Steelhead products, which enable its customers to improve the performance of their applications and access to their data across WANs, as well as supports the riverbed services platform. The company's Steelhead product family includes the Steelhead Mobile client software application that provides mobile workers with LAN-like access to corporate files and applications; Virtual Steelhead appliance to extend the reach of WAN optimization; Cloud Steelhead, a solution that is purpose-built for public cloud computing environments; Central Management Console that provides centralized configuration, monitoring, and control for simplifying the process of deploying and managing Steelhead products distributed across a WAN; and Interceptor appliance, which allows organizations to scale their WAN optimization solutions. It sells Steelhead appliances to customers ranging from small office deployments to large headquarters and data center locations. The company also offers Cascade product line, which help organizations manage, secure, and optimize the availability and performance of global applications; Stingray product line, which provides virtual application delivery control; and Whitewater gateways, designed to accelerate, de-duplicate, secure, and store backup data sets in the public cloud. It serves customers in manufacturing, finance, technology, government, architecture, engineering and construction, professional services, utilities, healthcare and pharmaceuticals, media, and retail industries.

We are recommending the following specific credit spreads.

Call Credit spreads = Bearish call spreads.