We are recommending the following credit spreads to the OCTOBER expiration cycle.
We are recommending credit spreads for our Portfolio #1 in
the following issues.
MTW - The Manitowoc Company, Inc. engages in the design, manufacture, and sale of cranes and related products,
and foodservice equipment worldwide. It operates through two segments, Cranes and Related Products, and Foodservice
Equipment. The Cranes and Related Products segment offers lattice-boom cranes, including crawler and truck mounted
lattice-boom cranes, and crawler crane attachments; tower cranes comprising top slewing luffing jib, topless, and self-
erecting tower cranes; mobile telescopic cranes consisting of rough terrain, all-terrain, truck mounted, and industrial
cranes; and boom trucks, such as telescopic boom trucks under the Manitowoc, Grove, Potain, National Crane, Shuttlelift,
Crane care, and Dongyue brands. Its products are used for various applications, including energy and utilities;
petrochemical and industrial projects; infrastructure development, such as road, bridge, and airport construction; and
commercial and high-rise residential construction industries. This segment also provides crane product parts and services,
and crane rebuilding, remanufacturing, and training services under the Manitowoc Crane Care brand name. The Foodservice
Equipment segment provides cooking and warming equipment; ice machines and storage bins; refrigerator and freezer
equipment; beverage dispensers and related products; serving and storage equipment; and food preparation equipment. This
segment offers its products under Cleveland, Convotherm, Delfield, Frymaster, Garland, Kolpak, Kysor Panel Systems,
Lincoln, Manitowoc, Merrychef, Multiplex, and Servend brand names. Its products are primarily used by commercial and
institutional foodservice operators, such as full service restaurants, quick-service restaurant chains, hotels, caterers,
supermarkets, convenience stores, business and industry, hospitals, schools, and other institutions. This segment also
provides foodservice equipment parts and services. The company was founded in 1853 and is based in Manitowoc,
AMRN - Amarin Corporation plc, a biopharmaceutical company, focuses on the development and commercialization
therapeutic products for the treatment for cardiovascular diseases. Its product development program areas include lipid
science and therapeutic benefits of polyunsaturated fatty acids. The company lead product comprises Vascepa, a
prescription-only omega-3 fatty acid comprising icosapent ethyl as an adjunct to diet to reduce triglyceride levels in
adult patients with severe hypertriglyceridemia. It also engages in developing Vascepa for the treatment of patients with
high triglyceride levels who are also on statin therapy for elevated low-density lipoprotein cholesterol levels. The
company was formerly known as Ethical Holdings plc. Amarin Corporation plc was founded in 1989 and is headquartered in
We are recommending the following specific credit spreads.
Call credit spreads = Bearish call spreads.
We are NOT recommending any additional October credit spreads to our Portfolio #2
However, we will be limiting the number of positions in Portfolio #2 to just 5 spreads for the month of October
and going forward.
Additionally, starting with the November recommendations we will be using stops with all new
I have not yet, decided rather to use NET DEBIT stop prices on the option prices or stop prices on the STOCK prices
to initiate the closing of positions.
I will try both types of stops on the future coming October recommendations in Portfolio #2 ,as a trial
to help determine which stops will be utilized as the standard for the start of the November recommendations.
And finally, I will be issuing fewer recommendations in Portfolio #1 starting in November.
Starting in November, in Portfolio #1 will utilize 10 contract positions instead of 20 contract positions
and be limited to 10 positions, with most of them being done 5-6 weeks weeks before the November expiration, meaning
about 1 week before October options expire.
The remaining positions for November will be recommended the weekend after the October positions go off the board.
When all recommendations for the month have been made, a SUPPLEMENTAL list of trades representing both sides
of the market will be suggested, and from this list you may choose to supplement additional trades that you consider
to your liking.
As with all of our SUPPLEMENTAL PLAYS you have to decide which ones are best suited to your risk tolerance.
Going forward starting in November we will three portfolios, which will have three types of recommendations and by
limiting the number of selection choices, we can potentially limit our risk exposure a lot more.
We may even go to a PORTFOLIO that may offer only call spreads and a PORTFOLIO that might only offer put spreads.
We will also be trying out a 3rd Portfolio in October and November to see how the reaction will be
using only low price stocks where we will be initially placing both the call and the put spread sides on the
These two-sided trades, more commonly called," IRON CONDORS" will represent the 3rd portfolio which
will consist of trades on both sides of the issue.
As I mentioned, we will try that our here and again in November to determine if it becomes a permanent fixture.
We will probably begin with a few of the Portfolio #3 trades either tomorrow evening or more likely over the weekend as we will need to dispose of several positions from our October Portfolio tomorrow and Friday when the October option series comes off the board.
Thursday night will also have a disposition of any open positions that we have going into Friday that we will have
to deal with.
Depending on what happens tomorrow , there could be several.
Finally, if any position that is currently open needs to be acted on tomorrow, hence meaning before Friday, you
will be emailed on what action needs to be taken tomorrow , if necessary.