We are recommending the following credit spreads to the AUGUST expiration cycle.
We are recommending credit spreads for our Portfolio #1 in
the following issues.
VECO - Veeco Instruments Inc., together with its subsidiaries, designs, manufactures, and markets various
equipments to make light emitting diodes (LEDs) and hard-disk drives worldwide. The company?s LED and Solar segment
designs and manufactures metal organic chemical vapor deposition and molecular beam epitaxy systems and components for the
manufacturers of LEDs, wireless devices, power semiconductors, and concentrator photovoltaics, as well as to research and
development applications. Its Data Storage segment designs and manufactures various technologies, including ion beam etch,
ion beam deposition, diamond-like carbon, physical vapor deposition, chemical vapor deposition, and slicing, dicing, and
lapping systems to create thin film magnetic heads that read and write data on hard disk drives. The company was founded
in 1945 and is headquartered in Plainview, New York.
APOL - Apollo Group, Inc., through its subsidiaries, provides online and on-campus educational programs and
services at the undergraduate, master?s, and doctoral levels. The company offers various degree programs in arts and
sciences, business and management, criminal justice and security, education, health care, human services, nursing,
psychology, and technology through its campus locations and learning centers, as well as through its online education
delivery system. It also publishes research-based math curricula and adaptive learning software; provides professional
training and education through schools located in the United Kingdom; sells books and other publications; offers
associate?s, bachelor?s, and master?s degrees in various program areas, as well as certificate programs at its Arizona
campus locations and online; and provides bachelor?s and master?s programs at campuses in Chile and Mexico. In addition,
the company offers program development, administration, and management consulting services comprising degree program
design, curriculum development, market research, student admissions, and accounting and administrative services to private
colleges and universities to establish their programs for working learners; and financial services education programs,
including Master of Science in three majors, as well as certification programs in retirement, asset management, and other
financial planning areas. Apollo Group, Inc. was founded in 1973 and is headquartered in Phoenix, Arizona.
BKS - Barnes & Noble, Inc. operates as a content, commerce, and technology company in the United States. It
provides access to books, magazines, newspapers, and other content through its multi-channel distribution platform. It
sells trade books, including hardcover and paperback consumer titles; mass market paperbacks, such as mystery, romance,
science fiction, and other fiction; children?s books; eBooks and other digital content; NOOK products comprising NOOK 1st
Edition, NOOK Wi-Fi 1st Edition, NOOK Color, NOOK Simple Touch, NOOK Tablet, and NOOK Simple Touch with GlowLight eBook
reader devices and related accessories; bargain books; magazines; gifts; cafe products and services; educational toys and
games; music; and movies. The company sells its products directly to customers through its bookstores and on
barnesandnoble.com. It also sells textbooks and course-related materials, emblematic apparel and gifts, trade books,
school and dorm supplies, and convenience and cafe items in college and university campuses. The company provides new and
used textbooks, as well as textbook rental services; and electronic textbooks and other course materials through NOOK
Study, a proprietary digital platform. As of June 25, 2013, the company operated 675 Barnes & Noble stores, as well as 686
college stores serving students and faculty members at colleges and universities. Barnes & Noble, Inc. also operates its
eBookstore, as well as provides NOOK eReading software.
Call credit spreads = Bearish call spreads.
Portfolio #2: MCM August 2013
NO RECOMMENDATIONS AT THIS TIME - We hopefully will add several this weekend to Portfolio #2.
ALERT: MCM JULY 2013 Portfolio #2 ACTION FOR WEDNESDAY.
Portfolio #2: ALERT closing DD July 55/57.50 call spread.
We are looking to close out the DD July 55/57.50 call spread for a NET DEBIT of $1.75-$1.85
The BID/ASK is $1.67 - $1.92.
As usual we always look to split the BID/ASK, so try and work the BID/ASK spread
Neverthe less, we will be closing this spread Wednesday, before the close.