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

We are recommending this credit spread for our Portfolio #1 in the following issue(s).

We are recommending a TEX 29/27 put spread on TEX to complete an iron condor when joined with our existing call spreads position on TEX.

This spread will require an additional margin of $2,000 as it has a 2 point strike price difference, while our call position was only a 1 point difference.

If you desire you could place just 10 contracts with this 2 strike price difference and you would than have NO additional margin requirement.

However, you will receive 1/2 as much net credit premium if you decide to place just 10 contracts instead of 20 contracts.

We are recommending the following specific credit spreads.

Put credit spreads = Bullish put spreads.

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We are recommending this credit spread for our Portfolio #2 in the following issue(s).

We are recommending a WDC August 65/60 put spread on WDC to complete an iron butterfly when joined with our existing call spread position on WDC .

This spread will not require any additional margin with the right brokerage firms.

We are recommending the following specific credit spread(s).

Put credit spreads = Bullish put spreads.