We are adding the following May recommendations to our current list of spreads.

We are recommending credit spreads in the following issues.

BIG - Big Lots, Inc., through its subsidiaries, operates as a broad line closeout retailer in the United States. The company offers products under various merchandising categories, which include consumables category consisting of food, health and beauty, plastics, paper, chemical, and pet products; home category, such as domestics, stationery, and home decorative products; and furniture category comprising upholstery, mattresses, and ready-to-assemble products, as well as case goods products that include bedroom, dining room, and occasional furniture. It also provides products in the hardlines category, including electronics, appliances, tools, and home maintenance products; seasonal category comprising lawn and garden, Christmas, summer, and other holiday products; and other category, which include toys, jewelry, infant accessories, and apparel products

JOYG - Joy Global Inc. engages in the manufacture and servicing of mining equipment for the extraction of coal, copper, iron ore, oil sands, and other minerals worldwide. The company operates in three segments: Underground Mining Machinery, Surface Mining Equipment, and Continental Crushing and Conveying. The Underground Mining Machinery segment produces continuous miners, longwall shearers, powered roof supports, armored face conveyors, shuttle cars, flexible conveyor trains, roof bolters, battery haulers, and continuous haulage systems. It also rebuilds and services equipment, and sells replacement parts and consumables in support of installed base. The Surface Mining Equipment segment produces electric mining shovels, walking draglines, and rotary blasthole drills. This segment also provides used electric mining shovels, logistics, and life cycle management support services.

NKE - NIKE, Inc. designs, develops, and markets footwear, apparel, equipment, and accessory products for men, women, and children worldwide. The company offers footwear in the categories of running, training, basketball, soccer, sport-inspired casual shoes, and kidsÂ’ shoes. It also provides footwear for aquatic activities, baseball, cheerleading, football, golf, lacrosse, outdoor activities, skateboarding, tennis, volleyball, walking, wrestling, and other athletic and recreational uses. In addition, the company sells sports apparel and accessories, sports-inspired lifestyle apparel, and athletic bags and accessory items, as well as apparel with licensed college and professional team and league logos. Further, it offers performance equipment, including bags, socks, sport balls, eyewear, timepieces, electronic devices, bats, gloves, protective equipment, golf clubs, and other equipment designed for sports activities under the NIKE brand name.

We are recommending the following specific credit spreads.

Call Credit spreads = Bearish call spreads.

Put Credit spreads = Bullish put spreads.