We are re-recommending the following credit spreads to the March 2014 expiration cycle, with the exception of QCOM.

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

SUNE - SunEdison, Inc. 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.

Put credit spreads = Bullish put spreads.

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

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

LVS - Las Vegas Sands Corp. develops, owns, and operates integrated resorts in Asia and the United States. The company owns and operates The Venetian Macao Resort Hotel, the Four Seasons Hotel Macao, the Plaza Casino, and the Sands Macao and Sands Cotai Central in Macau, the People?s Republic of China. It also owns and operates the Marina Bay Sands in Singapore; The Venetian Resort Hotel Casino, the Palazzo Resort Hotel Casino, and the Sands Expo and Convention Center in Las Vegas, Nevada; and the Sands Casino Resort Bethlehem in Bethlehem, Pennsylvania. The company?s integrated resorts comprise accommodations, gaming and entertainment facilities, retail facilities, convention and exhibition facilities, celebrity chef restaurants, and other amenities. Las Vegas Sands Corp. was founded in 1988 and is based in Las Vegas, Nevada.

Put credit spreads = Bullish put spreads.

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

GRPN - Groupon, Inc. operates online local commerce marketplaces that connect merchants to consumers by offering goods and services at a discount worldwide. It also offers deals on products for which it acts as the merchant of record. The company offers deals in various categories, including food and drink, events and activities, beauty and spa, health and fitness, home and garden, and automotive; deals on various product lines comprising electronics, sporting goods, jewelry, toys, home, and apparel; features travel offers that include hotels, airfare, and package deals, which covers domestic and international travel; and tools, such as payments and credit card payment processing service, as well as point-of-sale solutions to merchants. It distributes its deals to customers through mobile applications and mobile browsers that enable consumers to browse, purchase, manage, and redeem deals on their mobile devices; Websites; emails that are targeted by location, purchase history, and personal preferences; and publishes its deals through various social networks. The company was formerly known as ThePoint.com, Inc. and changed its name to Groupon, Inc. in October 2008. Groupon, Inc. was founded in 2008 and is headquartered in Chicago, Illinois.

HALO - Halozyme Therapeutics, Inc., a biopharmaceutical company, engages in the research, development, and commercialization of human enzymes. Its research focuses on human enzymes that transiently modify tissue under the skin to facilitate the delivery of injected drugs and fluids, or to alter abnormal tissue structures for clinical benefit. The company?s products are based on the Enhanze technology, a patented human recombinant hyaluronidase enzyme that enables the subcutaneous delivery of injectable biologics, such as monoclonal antibodies and other therapeutic molecules, as well as small molecules and fluids. It offers Hylenex recombinant, a formulation of rHuPH20 to facilitate subcutaneous fluid administration for achieving hydration; to increase the dispersion and absorption of other injected drugs; in subcutaneous urography; and to improve resorption of radiopaque agents. The company is also developing Ultrafast Insulin program, a Phase II clinical trial product for the treatment of type 1 and 2 diabetes mellitus; PEGPH20, a new molecular entity that is in Phase II clinical trial for the treatment of solid tumors; and HTI-501, a lysosomal proteinase, which is in Phase 1/2 clinical trial for the treatment of edematous fibrosclerotic panniculopathy. It has collaborative partnerships with F. Hoffmann-La Roche, Ltd and Hoffmann-La Roche, Inc.; Pfizer Inc.; Baxter Healthcare Corporation; ViroPharma Incorporated; and Intrexon Corporation for the development of three product candidates. Halozyme Therapeutics, Inc. was founded in 1998 and is based in San Diego, California.

We are recommending the following specific credit spreads.

Call credit spreads = Bearish Call spreads.