We are recommending the following credit spreads to add to the September expiration cycle.

We are recommending credit spreads for our Portfolio #1in the following issues.

APOL - Apollo Group, Inc., through its subsidiaries, provides online and on-campus educational programs and services at the undergraduate, masterÂ’s, and doctoral levels. The company offers various degree programs in arts and sciences, business and management, criminal justice and security, education, health care, human services, nursing, psychology, and technology through its campus locations and learning centers in 40 states and the District of Columbia, and Puerto Rico, as well as through its online education delivery system. It also provides various degree programs in Chile and Mexico, and through online; financial services education programs, including Master of Science in three majors, as well as certification programs in retirement, asset management, and other financial planning areas; and training and education to professionals in the legal and finance industries through its schools in the United Kingdom and a network of offices in Europe. In addition, the company offers program development, administration, and management consulting services comprising degree program design, curriculum development, market research, student admissions, and accounting and administrative services to private colleges and universities for their working learnersÂ’ programs; and sells books and other publications.

LLY - Eli Lilly and Company discovers, develops, manufactures, and sells pharmaceutical products worldwide. The companyÂ’s neuroscience products treat schizophrenia, mixed/manic episodes, and bipolar maintenance; depression, diabetic peripheral neuropathic pain, anxiety disorders, fibromyalgia, and chronic musculoskeletal pain; attention-deficit hyperactivity disorders; obsessive-compulsive and panic disorders, and bulimia nervosa; and bipolar and treatment-resistant depression. Its endocrinology products treat diabetes; type 2 diabetes; osteoporosis in postmenopausal women and men at high risk of fracture; human growth hormone deficiency and pediatric growth conditions; and testosterone deficiency. The companyÂ’s oncology products treat malignant pleural mesothelioma; pancreatic, metastatic breast, non-small cell lung, ovarian, bladder, colorectal, and head and neck cancers, as well as cardiovascular products treat erectile dysfunction, benign prostatic hyperplasia, high cholesterol, pulmonary arterial hypertension; reduce thrombotic cardiovascular events; and used as adjunct to percutaneous coronary intervention. In addition, it provides animal health products, such as cattle feed additives; antibiotics to treat respiratory and other diseases in cattle, swine, and poultry; leanness and performance enhancers for swine and cattle; protein supplements to improve milk productivity in dairy cows; anticoccidial agents; antibiotics to control enteric infections in calves and swine; products to treat canine separation anxiety; products that prevent flea infestations on dogs, kills fleas, prevent heartworm disease, and control intestinal parasite infections; and other pharmaceutical products to treat staphylococcal and bacterial infections.

VECO - Veeco Instruments Inc., together with its subsidiaries, designs, manufactures, and markets various equipments to make light emitting diodes (LEDs) and hard-disk drives worldwide. The companyÂ’s LED and Solar segment designs and manufactures metal organic chemical vapor deposition and molecular beam epitaxy systems and components for the manufacturers of LEDs, wireless devices, power semiconductors, and concentrator photovoltaics, as well as to research and development applications. Its Data Storage segment designs and manufactures various technologies, including ion beam etch, ion beam deposition, diamond-like carbon, physical vapor deposition, chemical vapor deposition, and slicing, dicing, and lapping systems to create thin film magnetic heads that read and write data on hard disk drives. The company was founded in 1945 and is headquartered in Plainview, New York.

We are recommending the following specific credit spreads.

Call credit spreads = bearish call spreads.

We are also placing a $3.60 STOP on our DECK SEP 50 SHORT CALL to close the position.

IF the DECK 50 SHORT CALL is triggered we will than close out our DEC 52.5 LONG CALL at the Market.

If this STOP is not triggered tomorrow we will hold this order as a GTC and advise action tomorrow after the close.

We will only place this order tomorrow if the market opens down or opens in negative territory.

The DJIA futures are down 41 and the S&P futures are down 5.50 at the time of this email. Things can always change over night.

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We are recommending credit spreads for our Portfolio #2 in the following issues.

NFLX - Netflix, Inc. provides Internet subscription services for TV shows and movies in the United States and internationally. The company offers its subscribers to watch unlimited TV shows and movies streamed over the Internet to their TVs, computers, and mobile devices. It also provides standard definition DVDs and Blu-ray discs to its subscribers. The company was founded in 1997 and is headquartered in Los Gatos, California.

CMG - Chipotle Mexican Grill, Inc. develops and operates fast-casual, fresh Mexican food restaurants in the United States, Canada, the United Kingdom, and France. Its restaurants primarily offer burritos, tacos, burrito bowls, and salads. As of June 30, 2012, it operated approximately 1,316 Chipotle restaurants. Chipotle Mexican Grill, Inc. was founded in 1993 and is based in Denver, Colorado.

We are recommending the following specific credit spreads.

Call credit spreads = bearish call spreads.

We are placing a STOP loss on the RGLD SEP 80 SHORT position at $3.70 STOP

If this STOP loss is triggered we would than close out our RGLD SEP 82.5 LONG CALL at the Market.

However,if the RGLD SEP 80 SHORT CALL STOP should not be triggered we will keep the position on as a GTC and will decide after the close tomorrow what steps to take with it going forward.

This RGLD STOP order will be placed regardless of how the market looks to open as we are dealing with an equity that is commodity driven, hence a negative equity opening might not benefit our RGLD stock like it could benefit our DECK equity stop.