We are recommending the following credit spreads to our MCM October expiration cycle.

We are recommending credit spreads in Portfolio #1 in the following issues.

BPOP - Popular, Inc., a financial holding company, provides a range of retail and commercial banking products and services primarily to institutional and retail customers in Puerto Rico and the Mainland United States. It offers various deposit products. Popular, Inc. also provides commercial and industrial, as well as commercial real estate loans; construction loans; lease financings comprising automobile loans/leases; residential mortgage and construction loans; consumer loans, including personal loans, credit cards, home equity lines of credit, and other loans to individual borrowers. In addition, the company offers financial advisory, investment banking, investment and securities brokerage, and insurance and reinsurance agency services. As of December 31, 2012, it owned and occupied approximately 63 branch premises and other facilities in Puerto Rico; and 97 offices comprising 17 owned and 80 leased in New York, Illinois, New Jersey, California, and Florida. Popular, Inc. was founded in 1917 and is headquartered in Hato Rey, Puerto Rico.

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.

Portfolio #1: ALERT closing YHOO October 32/33 call spread.

Since we were not able to complete the YHOO put spread on Thursday, we are recommending the following.

We are looking to close out the YHOO October 32/33 call spread for a NET DEBIT of $0.48 - $0.52

The BID/ASK is $0.48- $0.52.

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 before the close on Friday.