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.

NEM - Newmont Mining Corporation, together with its subsidiaries, engages in the acquisition, exploration, and production of gold and copper properties. The company?s assets or operations are located in the United States, Australia, Peru, Indonesia, Ghana, Mexico, and New Zealand. As of December 31, 2012, it had proven and probable gold reserves of approximately 99.2 million ounces and an aggregate land position of approximately 29,000 square miles. The company was founded in 1916 and is headquartered in Greenwood Village, Colorado.

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.

AGN - Allergan, Inc. operates as a multi-specialty healthcare company primarily in the United States, Europe, Latin America, and the Asia Pacific. The company discovers, develops, and commercializes pharmaceutical, biological, medical device, and over-the-counter products for the ophthalmic, neurological, medical aesthetics, medical dermatological, breast aesthetics, urological, and other specialty markets. It operates in two segments, Specialty Pharmaceuticals and Medical Devices. The Specialty Pharmaceuticals segment produces a range of pharmaceutical products, including ophthalmic products for dry eye, glaucoma, inflammation, infection, allergy, and retinal disease; Botox for certain therapeutic and aesthetic indications; skin care products for acne, psoriasis, eyelash growth, and other prescription and over-the-counter skin care products; and urologics products. The Medical Devices segment offers a range of medical devices, such as breast implants for augmentation, revision, and reconstructive surgery, as well as tissue expanders; and facial aesthetics products. The company sells its products to drug wholesalers, independent and chain drug stores, pharmacies, commercial optical chains, opticians, mass merchandisers, food stores, hospitals, group purchasing organizations, integrated direct hospital networks, ambulatory surgery centers, government purchasing agencies, and medical practitioners. It focuses on eye care professionals, neurologists, physiatrists, dermatologists, plastic and reconstructive surgeons, aesthetic specialty physicians, bariatric surgeons, urologists, and general practitioners. The company has collaboration agreements with Molecular Partners AG; Spectrum Pharmaceuticals, Inc.; and Serenity Pharmaceuticals, LLC. Allergan, Inc. was founded in 1948 and is headquartered in Irvine, California.

We are recommending the following specific credit spreads.

Call credit spreads = Bearish Call spreads.

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POSITION TO CLOSE OUT TOMORROW:

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Portfolio #1: ALERT closing AN August 46/47 call spread.

We are looking to close out the AN August 46/47 call spread for a NET DEBIT of $0.75 - $0.80

The BID/ASK is $0.60 - $0.90.

As usual we always look to split the BID/ASK, so try and work the BID/ASK spread

Nevertheless, we will be closing this spread Thursday before the close.