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

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

We are recommending a put spread on POT to complete an iron butterfly when joined with our existing POT call spread and we are recommending a put spread on CMA to complete an iron condor when joined with our existing call spread on CMA.

We are recommending the following specific credit spreads.

Put credit spreads = Bullish put spreads.