We are adding the following credit spreads to our December positions.

We are recommending spreads in the following issues.

GENZ - Genzyme Corporation is a global biotechnology company dedicated to making a major positive impact on the lives of people with serious diseases. The company's broad product portfolio is focused on rare genetic disorders, renal disease, and osteoarthritis, and includes an industry-leading array of diagnostic products and services. Genzyme's commitment to innovation continues today with research into novel approaches to cancer, heart disease, and other areas of unmet medical need.

CSTR - Coinstar, Inc. operate a national network of self-service coin-counting machines in the U.S., the U.K., and Canada. The company's Coinstar coin-counting units provide consumers with a fun, accurate and convenient means of converting accumulated change into cash. The Coinstar unit, which is about the size of an ATM, is highly accurate, durable, easy to use, and easy to service. It accepts consumers' loose change and then prints out a voucher listing the total number by denomination and dollar value of the processed coins, less our processing fee.

CRL - Charles River Laboratories is a leading provider of critical research tools and integrated support services that enable innovative and efficient drug discovery and development. Charles River is the global leader in providing the animal research models required in research and development for new drugs, devices and therapies and has been in this business for more than 50 years.

CYN - City National Corporation ,through its primary subsidiary City National Bank. Through its subsidiary, the company conducts business in Southern and in Northern California. City National Bank operates banking offices in Los Angeles, Orange, San Diego, Riverside, Ventura, San Bernardino, San Mateo and San Francisco counties, as well as a loan production office in Sacramento and an offshore office which takes deposits.

AMGN - Amgen Inc. discovers, develops and delivers innovative human therapeutics. A biotechnology pioneer, Amgen was one of the first companies to realize the new science's promise by bringing safe and effective medicines from lab, to manufacturing plant, to patient. Amgen therapeutics have changed the practice of medicine, helping millions of people around the world in the fight against cancer, kidney disease, rheumatoid arthritis, and other serious illnesses. With a deep and broad pipeline of potential new medicines, Amgen remains committed to advancing science to dramatically improve people's lives.

We are recommending the following specific credit spreads.

Call credit spreads = bearish call spreads.