We are recommending the following credit spreads to the January 2014 expiration cycle.

Sorry for the very late recommendations for Tuesday morning.

We are recommending credit spreads for our Portfolio #2 in the following issues.

GILD - Gilead Sciences, Inc., a biopharmaceutical company, discovers, develops, and commercializes human therapeutics for the treatment of life threatening diseases in North America, Europe, and Asia. Its products include Stribild, Complera/Eviplera, Atripla, Truvada, Viread, and Emtriva for the treatment of human immunodeficiency virus (HIV) infection in adults; and Viread and Hepsera products for the treatment of liver disease. The company also offers Letairis, an endothelin receptor antagonist for the treatment of pulmonary arterial hypertension; Ranexa, a tablet used for the treatment of chronic angina; Lexiscan/Rapiscan injection for use as a pharmacologic stress agent in radionuclide myocardial perfusion imaging; Cayston, an inhaled antibiotic for the treatment of respiratory systems in cystic fibrosis patients; and Tamiflu, an oral antiviral capsule for the treatment and prevention of influenza A and B. In addition, it provides other products, such as AmBisome, an antifungal agent to treat serious invasive fungal infections; Vistide, an antiviral injection for the treatment of cytomegalovirus retinitis in patients with AIDS; and Macugen, an anti-angiogenic oligonucleotide to treat neovascular macular degeneration. Further, it has product candidates in various stages for the treatment of cardiovascular diseases, respiratory diseases, and oncology diseases/inflammation. The company markets its products through its commercial teams and/or in conjunction with third-party distributors and corporate partners. Gilead Sciences, Inc. has collaborations with BMS, GSK, Janssen, and Japan Tobacco to develop and commercialize various products. The company was founded in 1987 and is headquartered in Foster City, California.

URI - United Rentals, Inc., through its subsidiaries, operates as an equipment rental company. It offers approximately 3,300 classes of equipment for rent to customers comprising construction and industrial companies, manufacturers, utilities, municipalities, homeowners, and government entities. The companyÂ’s fleet of rental equipment includes general construction and industrial equipment, such as backhoes, skid-steer loaders, forklifts, earthmoving equipment, and material handling equipment; aerial work platforms consisting of boom lifts and scissor lifts; and general tools and light equipment, including pressure washers, water pumps, and power tools. Its fleet also comprises trench safety equipment, such as trench shields, aluminum hydraulic shoring systems, slide rails, crossing plates, construction lasers, and line testing equipment for underground work; and power and heating, ventilating, and air conditioning equipment, which consists of portable diesel generators, electrical distribution equipment, and temperature control equipment, including heating and cooling equipment. In addition, the company sells new and used equipment, as well as related contractor supplies, parts, and service; and offers repair, maintenance, and rental protection services. As of December 19, 2013, the company operated 822 rental locations in the United States and Canada. United Rentals, Inc. was founded in 1997 and is headquartered in Greenwich, Connecticut.

We are recommending the following specific credit spreads.

Put credit spreads = Bullish Put spreads.

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We are recommending credit spreads for Janaury 2014 in the following positions for Portfolio #3:

TSL - Trina Solar Limited, an integrated solar-power products manufacturer, engages in the design, development, manufacture, and sale of photovoltaic (PV) modules worldwide. The company provides mono- and multi-crystalline silicon ingots, wafers, cells, and related products. It offers monocrystalline PV modules ranging from 185 watts (W) to 210 W in power output; and multicrystalline PV modules ranging from 230 W to 310 W in power output for use in a range of residential, commercial, industrial, and other solar power generation systems. The company also designs and produces various PV modules, such as colored modules for architectural applications and larger sized modules for utility grid applications. It sells its products primarily to power plant developers and operators, distributors, wholesalers, and PV system integrators. Trina Solar Limited was founded in 1997 and is headquartered in Changzhou, the PeopleÂ’s Republic of China.

SUNE - SunEdison, develops, manufactures, and sells silicon wafers. The company is also involved in developing and selling photovoltaic energy solutions. It operates in two segments, Semiconductor Materials and Solar Energy. The Semiconductor Materials segment offers prime polished wafers, such as OPTIA and annealed products; epitaxial wafers, including AEGIS wafers; test/monitor wafers for testing semiconductor fabrication lines and processes; and silicon-on- insulator wafers used in the chip making process. Its wafers are used as starting materials for the manufacture of various types of semiconductor devices, including microprocessor, memory, logic, and power devices. The Solar Energy segment provides solar energy services that integrate the design, installation, financing, monitoring, operation, and maintenance portions of the downstream solar market. It also manufactures polysilicon, silicon wafers, and solar modules. As of December 31, 2012, this segment interconnected approximately 675 solar power systems representing 989 MW of solar energy generating capacity. The company serves semiconductor device manufacturers, including the memory, microprocessor, and ASIC manufacturers; foundries; national retail chains and real estate property management firms; federal, state, and municipal governments; and utilities. SunEdison markets its semiconductor wafer products primarily through a direct sales force, as well as through local or regional solar channel partners. The company was formerly known as MEMC Electronic Materials, Inc. and changed its name to SunEdison, Inc. in May 2013. SunEdison, Inc. was founded in 1984 and is headquartered in St. Peters, Missouri. The company is a prior subsidiary of E.ON SE.

We are recommending the following specific credit spreads.

Put credit spreads = Bullish Put spreads.