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 BBY August 30/28 put spread on BBY to complete an iron condor when joined with our existing call spread position on BBY.

Since this spread has a 2 pt strike price difference this spread will require an additional $1,000 margin ( less the premium received ) with the right brokerage firms.

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

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 LULU August 70/67.5 put spread on LULU to complete an iron condor when joined with our existing call spread position on LULU .

We are also recommending a SAP August 72.50/70 put spread on SAP to complete an iron condor when joined with our existing call spread position on SAP .

These spreads 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.