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

We are also going to try and fill a couple of the initial spreads that we could not fill on Tuesday.

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

YHOO - Yahoo! Inc. (Yahoo!) is a global technology company. Through the Company’s technology and insights, Yahoo! delivers digital content and experiences, across devices and globally. The Company provides online properties and services (Yahoo! Properties) to users, as well as a range of marketing services designed to reach and connect with those users on Yahoo! and through a distribution network of third-party entities (Affiliates). These Affiliates integrate its advertising offerings into their Websites or other offerings (those Websites and other offerings, Affiliate sites). The Company generates revenue from the display of graphical advertisements (display advertising), the display of text-based links to advertisers’ Websites (search advertising), and other sources. Effective January 7, 2014, Yahoo Inc acquired Aviate. In August 15, 2014, IOOF Yahoo! Inc. acquired Clarity Ray. In August 2014, the Company acquired Flurry. Effective September 05, 2014, Yahoo Inc acquired Luminate Inc.

GDX - The Gold Miners ETF investment seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the NYSE Arca Gold Miners Index. The fund normally invests at least 80% of its total assets in common stocks and depositary receipts of companies involved in the gold mining industry. Such companies may include small- and medium-capitalization companies and foreign issuers. The Gold Miners Index is a modified market-capitalization weighted index primarily comprised of publicly traded companies involved in the mining for gold and silver. The fund is non-diversified.

We are recommending the following specific credit spreads.

Call credit spreads = Bearish Call spreads.

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We are recommending credit spreads for March 2014 in the following positions for Portfolio #2:

QCOM - QUALCOMM Incorporated (Qualcomm), is engaged in design, manufacture, have manufactured on its behalf and market digital communications products and services based on code division multiple access (CDMA), Orthogonal Frequency Division Multiplexing (OFDMA) and other technologies. The Company operates in four segments: Qualcomm CDMA Technologies (QCT); Qualcomm Technology Licensing (QTL); Qualcomm Wireless & Internet (QWI), and Qualcomm Strategic Initiatives (QSI). The Company develops and supply integrated circuits and system software based on CDMA, OFDMA and other technologies for uses in voice and data communications, networking, application processing, multimedia and global positioning system products. Effective June 18, 2014, Qualcomm Inc acquired Black Sand Technologies Inc, an Austin-based manufacturer of semiconductors. Effective July 3, 2014, Qualcomm acquired Wilocity Ltd. Effective September 15, 2014, Qualcomm Inc acquired Euvision Technologies BV.

We are recommending the following specific credit spreads.

Call credit spreads = Bearish Call spreads.

We are recommending the following specific credit spreads.

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

X - United States Steel Corporation is an integrated steel producer. The company manufactures a range of value-added steel sheet and tubular products for the automotive, appliance, container, industrial machinery, construction and oil and gas industries. The Company’s integrated steel facilities include Gary Works, which is made up of Gary Works in Gary, Ind., East Chicago Tin in East Chicago, Ind., and Midwest Plant in Portage, Ind.; Great Lakes Works in Ecorse and River Rouge, Mich.; Mon Valley Works, which includes Edgar Thomson Plant and Irvin Plant near Pittsburgh, Pa., and Fairless Plant near Philadelphia, Pa.; Granite City Works in Granite City, Ill.; Fairfield Works in Fairfield, Ala.; U. S. Steel Canada's Lake Erie Works in Nanticoke, Ontario, and U. S. Steel Košice in the Slovak Republic. The Company has three reportable operating segments: Flat-rolled Products, U. S. Steel Europe and Tubular Products. Other businesses include railroad services and real estate operations.

P - Pandora Media, Inc. (Pandora) provides internet radio services in the United States. The Company offers radio services on smartphones, tablets, traditional computers and car audio systems, as well as a range of other internet-connected devices. . The Music Genome Project and its playlist generating algorithms predict listener music preferences, play music content suited to the tastes of each individual listener and introduce listeners to music they will love. When a listener enters a single song, artist or genre to start a station, a process it calls seeding, the Pandora service generates a station that plays music it thinks that listener will enjoy. Pandora provides service through two models: Free Service and Pandora One. The Company generates revenue from advertising. It also offers a subscription service to listeners.

We are recommending the following specific credit spreads.

Call credit spreads = Bearish Call spreads.