We are recommending the following credit spread for the December cycle in our Portfolio #1.

Initially,We will be attempting to close out the MNST DEC 47.5/45 put spread for a NET DEBIT of $0.10.

While simultaneously placing the following put credit spread below.

The CLOSE of the MNST DEC 47.5/45 put spread for a DEBIT of $0.10 and and execution of the MNST 52.5/50 put credit spread above for a CREDIT of $0.40, creating a NET CREDIT of $0.30 to close and open the new position.

If we are successful in executing this 4 trade transaction we will be left with an iron butterfly on our MNST position.

The addition of this position will require no additional margin.

By rolling up the put side on MNST, this additional spread premium should help us offset some of the loss, if or when we may be forced to close out the spread on our call side of MELI position.

As with any position, this additional position could also lose money just as any of our current positions are capable of during the cycle.

Additionally, we have to close the current put spread and initiate the new put spread all at the same time for a NET CREDIT of $0.30.

If both sides can't be done, neither will be completed ( This should be set up as a contingency order ).

If we are unable to complete this multiple trade transaction, we will re-visit this issue tomorrow night for Thursday.

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We are recommending the following credit spread for the December cycle in our Portfolio #2.

By adding this put credit spread position we will be completing an iron butterfly on our MELI position.

The addition of this position will require no additional margin

This additional spread should help us offset some lose, if or when we are forced to close out the spread on our call side of MELI.

As with any position, this additional position could also lose money just as any of our current positions are capable of during the cycle.

However, with the butterfly on MELI we are going to profit on one side or the other and if we have to take a loss it would reduce the loss on the MELI call side by $0.25

We are recommending the following specific credit spread.

Put credit spread = bullish put spread.

By adding the following Put credit spread we will be creating an iron butterfly on our MELI position.