We are adding the following issues to our August recommended list.

We are recommending credit spreads in the following issues.

PEP - PepsiCo, Inc. manufactures, markets, and sells various foods, snacks, and carbonated and non-carbonated beverages worldwide. The company operates in four divisions: PepsiCo Americas Foods (PAF), PepsiCo Americas Beverages (PAB), PepsiCo Europe, and PepsiCo Asia, Middle East and Africa (AMEA). PAF divisionÂ’s Frito-Lay North America business primarily offers LAY'S and RUFFLES potato chips, DORITOS tortilla chips, TOSTITOS tortilla chips and dips, CHEETOS cheese flavored snacks, FRITOS corn chips, ROLD GOLD pretzels, SUNCHIPS multigrain snacks, and CRACKER JACK candy coated popcorn; and Quaker Foods North America business provides Quaker oatmeal, Aunt Jemima mixes and syrups, Quaker grits, CapÂ’n Crunch cereal, Life cereal, Rice-A-Roni, Pasta Roni, and Near East side dishes. This divisionÂ’s Sabritas business operates in the snack and fun food markets in Mexico; Gamesa business offers cookies in Mexico; and Latin Americas Foods business provides snacks in Brazil, Argentina, Colombia, Peru, and Venezuela. PAB division provides various beverage concentrates, fountain syrups, and finished goods under brands, such as Mountain Dew, Diet Pepsi, Gatorade, Tropicana Pure Premium, Aquafina water, Sierra Mist, Mug, Tropicana juice drinks, Propel, SoBe, Slice, Dole, Tropicana Twister, and Tropicana Season's Best principally in the United States, Canada, and Mexico. PepsiCo Europe division operates in the food and beverage sectors in Europe offering Frito Lay Snacks, Pepsi-Cola beverages, Gatorade sports drinks, Tropicana juices, and Quaker foods.

UAL - United Continental Holdings, Inc., through its subsidiaries, engages in the provision of passenger and cargo air transportation services. As of February 24, 2011, it operated a total of approximately 5,675 flights a day to 372 airports on 6 continents from their hubs in Chicago, Cleveland, Denver, Guam, Houston, Los Angeles, New York, San Francisco, and Tokyo, as well as in Washington, D.C. The company was formerly known as UAL Corporation and changed its name to United Continental Holdings, Inc. on October 1, 2010. United Continental Holdings, Inc. was founded in 1934 and is headquartered in Chicago, Illinois.

WHR - Whirlpool Corporation engages in the manufacture and marketing of home appliances worldwide. Its principal products include laundry appliances, refrigerators, cooking appliances, dishwashers, mixers, and other small household appliances. The company also produces hermetic compressors for refrigeration systems. It markets and distributes its products under various brand names, which include Whirlpool, Maytag, KitchenAid, Jenn-Air, Roper, Estate, Admiral, Magic Chef, Amana, Inglis, Acros, KIC, Ignis, Bauknecht, Brastemp, Consul, Eslabon de Lujo, Laden, Polar, and Supermatic in North America, Europe, Latin America, and Asia. Whirlpool Corporation sells its products to retailers, dealers, distributors, builders, and other manufacturers.

We are recommending the following specific credit spreads.

Call credit spreads = bearish call spreads.