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

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

WAG - Walgreen Co., together with its subsidiaries, operates a network of drugstores in the United States. It provides consumer goods and services, pharmacy, and health and wellness services through drugstores, as well as through mail, and by telephone and online. The company sells prescription and non-prescription drugs; and general merchandise, including household products, convenience and fresh foods, personal care, beauty care, photofinishing, and candy products, as well as home medical equipment, contact lenses, vitamins and supplements, and other health and wellness solutions. It also provides specialty pharmacy services for managing complex and chronic health conditions; customers infusion therapy services consisting of administration of intravenous medications for cancer treatments, chronic pain, heart failure, and other infections and disorders; and clinical services, such as laboratory monitoring, medication profile review, nutritional assessments, and patient and caregiver education. In addition, the company operates Take Care Clinics to treat patients, give prescriptions, and administer immunizations and other vaccines. As of June 27, 2013, it operated 8,096 drugstores in 50 states, the District of Columbia, and Puerto Rico. The company also operated approximately 700 worksite health and wellness centers, and in-store convenient care clinics in the United States. Walgreen Co. was founded in 1901 and is based in Deerfield, Illinois.

TOL - Toll Brothers, Inc., together with its subsidiaries, designs, builds, markets, and arranges finance for detached and attached homes in luxury residential communities. It is also involved in building or converting existing rental apartment buildings into high-, mid-, and low-rise luxury homes. In addition, the company, through joint ventures, is developing a high-rise luxury condominium/hotel project and a for-rent luxury apartment complex. Further, it owns, develops, and operates golf courses and country clubs associated with various planned communities. The company serves move-up, empty-nester, active-adult, age-qualified, and second-home buyers in 19 states in the United States. Toll Brothers, Inc. was founded in 1967 and is headquartered in Horsham, Pennsylvania.

ANF - Abercrombie & Fitch Co., through its subsidiaries, operates as a specialty retailer of casual apparel for men, women, and kids. It operates through three segments: U.S. Stores, International Stores, and Direct-to-Consumer. The company sells various products, including casual sportswear apparel comprising knit and woven shirts, graphic T-shirts, fleece, jeans and woven pants, shorts, sweaters, and outerwear; personal care products; and accessories for men, women, and kids under the Abercrombie & Fitch, abercrombie kids, and Hollister brand names. It also offers bras, underwear, personal care products, sleepwear, and at-home products for girls under the Gilly Hicks brand. The company operates approximately 1,053 stores in the United States and internationally. Abercrombie & Fitch Co. sells its products through its stores and direct-to-consumer sales. The company was founded in 1892 and is headquartered in New Albany, Ohio.

We are recommending the following specific credit spreads.

Call credit spreads = bearish call spreads.

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

SWK - Stanley Black & Decker, Inc. provides power and hand tools, mechanical access solutions, and electronic security and monitoring systems for various industrial applications primarily in the United States, Canada, Europe, and Asia. The company?s Construction & Do It Yourself segment offers professional corded and cordless electric power tools and equipment, such as drills, impact wrenches and drivers, grinders, saws, routers, and sanders; corded and cordless electric power tools, lawn and garden products and home products; and hand tools, fasteners, and storage products to professional end users, distributors, and retailers. Its Security segment provides electronic security systems; electronic security services, such as alarm monitoring, video surveillance, fire alarm monitoring, and systems integration and maintenance; healthcare solutions comprising medical carts and cabinets, asset tracking, infant and pediatric protection, patient protection, wander and fall management, and emergency call products; and automatic doors, commercial hardware, locking mechanisms, electronic keyless entry systems, keying systems, and tubular and mortise door locksets. This segment sells its products to consumers; retailers; educational, financial, and healthcare institutions; and commercial, governmental, and industrial customers. The company?s Industrial segment offers hand tools, power tools, and engineered storage solution products; engineered fasteners; and custom pipe handling machinery, joint welding and coating machinery, weld inspection services, and hydraulic tools and accessories to the automotive, manufacturing, aerospace, and natural gas pipeline industries. This segment sells products through third party distributors and direct sales force. The company was formerly known as The Stanley Works and changed its name to Stanley Black & Decker, Inc. in March 2010. Stanley Black & Decker, Inc. was founded in 1843 and is headquartered in New Britain, Connecticut.

CLX - The Clorox Company manufactures and markets consumer and professional products worldwide. The company?s Cleaning segment offers laundry additives, including bleach products under the Clorox brand, and Clorox 2 stain fighter and color booster; home-care products primarily under the Clorox, Formula 409, Liquid-Plumr, Pine-Sol, S.O.S, and Tilex brands; naturally derived home care products under the Green Works brand; and cleaning and disinfecting products under the Clorox, Dispatch, Aplicare, HealthLink, and Clorox Healthcare brands. Its Household segment offers plastic bags, wraps, and containers under the Glad brand; cat litter products under the Fresh Step, Scoop Away, and Ever Clean brands; and charcoal products under the Kingsford and Match Light brands. The company?s Lifestyle segment provides dressings and sauces primarily under the Hidden Valley, K C Masterpiece, and Soy Vay brands; water-filtration systems and filters under the Brita brand; and natural personal care products under the Burt?s Bees and güd brands. The Clorox Company also markets its products primarily under the Javex, Glad, PinoLuz, Ayudin, Limpido, Clorinda, Poett, Mistolin, Lestoil, Bon Bril, Nevex, Agua Jane, and Chux brands. The company sells its products primarily through mass merchandisers, warehouse clubs, grocery stores, other retail outlets, distributors, and medical supply providers, as well as a direct sales force, combination of direct sales teams, and network of brokers. The Clorox Company was founded in 1913 and is headquartered in Oakland, California.

We are recommending the following specific credit spreads.

Call credit spreads = bearish Call spreads.