We are recommending the following credit spread to the November 2014 expiration cycle.

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

FXC - Freeport-McMoRan is a United States-based natural resources company with a global portfolio of mineral assets, including copper, gold, and molybdenum, in addition to oil and gas resources. FCX's portfolio of assets includes the Grasberg minerals district in Indonesia; mining operations in the Americas, including the large-scale Morenci minerals district in North America and the Cerro Verde.

Call credit spreads - Bearish Call spread.

We also will be adding a Put spread on CREE which when completed will create an iron condor on CREE when combined with our current open CREE Call spread.

We are recommending the following specific credit spread for Portfolio #1:

Put credit spreads - Bullish Put spread.

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

We will be adding a Put spread on IBM which when completed will create an iron condor on IBM when combined with our current open IBM Call spread.

We also, will be adding a Put spread on TIF which when completed will create an iron condor on TIF when combined with our current open TIF Call spread.

We are recommending the following specific credit spreads for Portfolio #2:

Put credit spreads - Bullish Put spread.