We are going to look to start the August expiration month with the following positions.

We are recommending credit spreads in the following issues.

DCI - Donaldson Company, Inc.is a worldwide manufacturer of air cleaners, liquid filters and exhaust products and accessories for heavy duty mobile equipment; in-plant air cleaning systems; air intake systems and exhaust products for industrial gas turbines; and specialized filters for diverse applications. The Company has one industry segment which consists of the design, manufacture and sale of products to filter air, sound and liquid.

WPPGY - WPP Group plcis an advertising company. The Company provides public relations, media advertising, strategic market services, market research and sales promotion, audio visual and identity and design advertising that is in a non-media format. WPP Group provides its advertising services worldwide.

MON - Monsanto is a leading global provider of technology-based solutions and agricultural products for growers and downstream customers, such as grain processors and consumers, in the agricultural markets. The combination of its herbicides, seeds and related genetic trait products provides growers with integrated solutions to more efficiently and cost effectively produce crops at higher yields, while controlling weeds, insects and diseases. Its base business, led by Roundup and coupled with the latest tools in biotechnology, genomics and molecular breeding.

SHPGY - Shire Pharmaceuticals Group plc is a specialty pharmaceutical company focused primarily on two therapeutic areas: central nervous system disorders and metabolic bone diseases.

OSTK - Overstock.com, Inc. is an online closeout retailer offering discount, brand-name merchandise for sale over the Internet. Their merchandise offerings include bed-and-bath goods, kitchenware, watches, jewelry, electronics, sporting goods and designer accessories.

We are recommending the following specific credit spreads.

Call credit spreads - Bearish call spreads.

August DJX Iron Condor Call & Put Credit spread.

This trade should be placed as one order, which will require 4 legs to be filled.

The Net credit for all four (4) legs will be .13 NET CREDIT.