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NEW ADDITIONS TO THE MARCH RECOMMENDED LIST

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TWO NEW ADDITIONS to OUR MARCH RECOMMENDED LIST -CRYP & GAP

We are recommending put writes on the following issues:


CRYP - CryptoLogic, Inc.
engages in the development and provision of online gaming software and services for the worldwide Internet gaming market. The company also provides licensing, e-cash management, and customer support services for its Internet gaming software to third-party gaming operators. Its gaming solution comprises an Internet-based gaming software suite featuring casino table and slot games, multiplayer bingo, player-to-player poker, multiple languages, multiple currencies, multiple platforms, play-for-fun and play-for-cash mode, and an integrated, proprietary e-cash management system, as well as customer support services.


GAP - The Great Atlantic & Pacific Tea Company, Inc. (GAPTC)
engages in the retail food business. It operates conventional supermarkets, combination food and drug stores, and discount food stores in the United States and Canada. As of June 18, 2005, the company's retail grocery operations included 637 stores. GAPTC sells groceries, meats, fresh produce, and other items in its supermarkets. In addition, it has bakery, delicatessen, pharmacy, floral, fresh fish, and cheese departments, as well as onsite banking services in certain stores

We are recommending the following specific two (2) put writes

CRYP 25.25

SELL CRYP MAR SYM: UFW-OX
Target Price $30.00 22.5 Put
Potential Profit(10 x = $300.00
Initial Margin $5,350 10 (contracts)

Return on Investment 5.61%
Cost Basis in Stock = $22.20
Days to Expiration = 17
Stock goes on Watch List Price at: $24.50
STOP EXIT STRATEGY
Close option position if Stock CLOSES less than $22.50

GAP $32.26
SELL GAP MAR SYM: GAP-OF
Target Price $40.00 30 Put
Potential Profit(10 x = $400.00

Initial Margin $6,852 10 (contracts)
Return on Investment 5.84%
Cost Basis in Stock = $29.60
Days to Expiration = 17
Stock goes on Watch List Price at: $31.50
STOP EXIT STRATEGY
Close option position if Stock CLOSES less than $30.00

A fill of these position will bring our MARCH RECOMMENDED LIST TO
ELEVEN (11) Positions.


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