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

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

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.

CIEN - Ciena Corporation provides communications networking equipment, software, and services that support the transport, switching, aggregation, and management of voice, video, and data traffic worldwide. The company operates through Converged Packet Optical, Packet Networking, Optical Transport, and Software and Services segments. The Converged Packet Optical segment offers networking solutions optimized for the convergence of coherent optical transport, OTN switching, and packet switching. Its products include the 6500 Packet-Optical Platform, CoreDirector Multiservice Optical Switches, 5430 Reconfigurable Switching System, and OTN configuration for the 5410 Reconfigurable Switching System. This segment also sells operating system software and enhanced software features embedded in each of these products. The Packet Networking segment principally provides the companyÂ’s 3000 family of service delivery switches and service aggregation switches, the 5000 series of service aggregation switches, and its Ethernet packet configuration for the 5410 Service Aggregation Switch. The Optical Transport segment transports voice, video, and data traffic at high transmission speeds. Its principal products include the 4200 Advanced Services Platform, Corestream Agility Optical Transport System, 5100/5200 Advanced Services Platform, Common Photonic Layer, and 6100 Multiservice Optical Platform. The Software and Services segment offers network software suite, including the OneControl Unified Management System, an integrated network and service management software designed to automate and simplify network management, operation, and service delivery; and the ON-Center Network & Service Management Suite, Ethernet Services Manager, Optical Suite Release, and network level applications. This segment also provides consulting, network design, installation and deployment, maintenance support, and training services. Ciena Corporation was founded in 1992 and is headquartered in Hanover, Maryland.

Put credit spreads = Bullish put spreads.

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