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

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

T - AT&T Inc. (AT&T) is a holding company. The Company is a provider of telecommunications services in the United States and worldwide. The Company services and products include wireless communications, local exchange services, long-distance services, data/broadband and Internet services, video services, telecommunications equipment, managed networking, wholesale services and directory advertising and publishing. AT&T operates in three segments such as Wireless, Wireline, and Other. The Company’s Wireless subsidiaries provide both wireless voice and data communications services across the United States, and through roaming agreements, in a substantial number of foreign countries. Wireline subsidiaries provide primarily landline voice and data communication services, AT&T U-verse high-speed broadband and voice services (U-verse) and managed networking to business customers. Its other segment includes customer information services (operator services) and corporate and other operations.

We are recommending the following specific credit spreads.

Call credit spreads = Bearish Call spreads.

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

NKE - NIKE, Inc. (NIKE) is engaged in design, development, marketing and selling of athletic footwear, apparel, equipment, accessories and services. NIKE is a seller of athletic footwear and athletic apparel across the world. The Company sells its products to retail accounts, through NIKE owned retail stores and internet websites. The Company focus its NIKE Brand product offerings in eight categories: Running, Basketball, Football (Soccer), Men’s Training, Women’s Training, Action Sports, Sportswear and Golf. Basketball includes its Brand Jordan product offerings and Men's Training includes its baseball and United States football product offerings. The Company also markets products designed for kids, as well as for other athletic and recreational uses, such as cricket, lacrosse, tennis, volleyball, wrestling, walking and outdoor activities. The Company operates in North America, Western Europe, Central & Eastern Europe, Greater China, Japan and Emerging Markets.

AIG - American International Group, Inc. (AIG) is an insurance company. The Company provides a range of property casualty insurance, life insurance, retirement products, mortgage insurance and other financial services. It offers products and services that help businesses and individuals protect their assets, manage risks and provide for retirement security. It earns revenues primarily from insurance premiums, policy fees from universal life insurance and investment products, and income from investments. AIG companies serve commercial, institutional and individual customers through worldwide property-casualty networks of any insurer. In addition, AIG companies are providers of life insurance and retirement services in the United States. Its segments include AIG Property Casualty and AIG Life and Retirement.

Call credit spreads = Bearish Call spreads.

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

APOL - Apollo Education Group, Inc. is a private education services provider. The Company through the education platforms, it offers undergraduate, graduate, professional development and other non-degree educational programs and services, online and on-campus, to working learners in the United States and abroad. The Company’s learning includes domestic and International platforms. The Universities in domestic platform include University of Phoenix, Inc.; Western International University, Inc.; The College for Financial Planning Institutes Corporation; Carnegie Learning, Inc., and Apollo Lightspeed. The International platform offers educational programs outside the United States through its Apollo Global, Inc. subsidiary. The Company’s Apollo Global education network includes: BPP Holdings Limited, Open Colleges Australia Pty Ltd, Universidad Latinoamericana, Milpark Education (Pty) Ltd., Apollo Global Chile S.A. and India Education Services Private Ltd.

We are recommending the following specific credit spreads.

Call credit spreads = Bearish Call spreads.

In addition we will again be attempting to add a put spread on MGM, which when combined with our current MGM call spread will give us an iron condor on MGM.

We are recommending the following specific credit spreads.

Put credit spreads = Bullish Put spreads.