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

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

We are going to sell a put spread on YUM, which along with our current call spread will complete an iron condor on our YUM position.

We are also going to sell a put spread on APA which with our current call spread will complete an iron butterfly on our YUM position.

We are recommending the following specific credit spreads.

Put credit spreads = Bullish Put spreads.