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 put spreads on HPQ and CLF to complete iron condors when joined with our existing call spread positions on HPQ and CLF.

We are recommending the following specific credit spreads.

Put credit spreads = Bullish put spreads.

==========================================================

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

We are recommending a put spread in VMW which when combined with out existing call spread in VMW will complete an iron butterfly on VMW.

We are recommending the following specific credit spread.

Put credit spread = Bullish put spread.