So sorry for the late night emailing.

We are recommending the following credit spreads to the January expiration cycle.

W are recommending the following credit spread in our Portfolio #1.

We are recommending a put credit spread on SHLD to complete an iron butterfly with our current call position on SHLD.

This spread should not require any addition margin requirement when executed.

Put credit spread = bullish call spread.

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

We are recommending a call credit spread on BIDU to complete an iron condor with our current put position on BIDU.

This spread will require additional margin requirement when executed. as it has a 5 point strike price given, where as our put position only had a 2.5 point strike difference

Call credit spread = bearish call spread.