we are adding the following spreads to our March recommended list.

We are recommending credit spreads in the following issues for Portfolio #1.

MCP - Molycorp, Inc., a development stage company, focuses on the production and sale of rare earth oxides from stockpiled feedstocks in the western hemisphere. The company operates the Mountain Pass mine, a non-Chinese rare earth deposit located in San Bernardino County, California. Its rare earth products are used as inputs in various existing and emerging applications comprising clean energy technologies; multiple high-tech uses; defense applications; and water treatment technology. The company was founded in 2008 and is headquartered in Greenwood Village, Colorado.

RES - RPC, Inc. provides a range of oilfield services and equipment primarily to independent oil and gas companies engaged in the exploration, production, and development of oil and gas properties in the United States, Africa, Canada, China, eastern Europe, Latin America, the Middle East, and New Zealand. It operates in two segments, Technical Services and Support Services. The Technical Services segment offers pressure pumping, coiled tubing, snubbing, nitrogen pumping, well control consulting and firefighting, wireline, and fluid pumping services, as well as downhole tools and motors, and fishing tools. The Support Services segment offers equipment and services, including drill pipe and related tools; pipe handling, inspection, and storage services; and oilfield training services. This segment also provides support services, such as the rental of blowout preventors, high pressure manifolds and valves, Hevi-wate drill pipe, production related rental tools, pumps, diverters, drill pipes, drill collars, handling tools, and hoses that are used for onshore and offshore oil and gas well drilling, completion, and workover activities. RPC, Inc. was founded in 1984 and is headquartered in Atlanta, Georgia. RPC, Inc. was founded in 1984 and is headquartered in Atlanta, Georgia.

We are recommending credit spreads in the following issues for Portfolio #2.

FFIV - F5 Networks, Inc. provides application delivery networking technology that optimizes the delivery of network-based applications, and the security, performance, and availability of servers, data storage devices, and other network resources in the Americas, EMEA, Japan, and the Asia Pacific. The company offers BIG-IP, an application delivery controller; VIPRION, a chassis-based application delivery controller; and FirePass, an appliance that provides SSL VPN access for remote users of Internet protocol networks, and applications connected to the networks from Web browser on any device. It also offers Application Security Manager, an application firewall; WebAccelerator that speeds Web transactions by optimizing individual network object requests, connections, and end-to-end transactions from browser to databases; WAN Optimization Manager, which integrates application delivery with WAN optimization technologies; Access Policy Manager that provides secure, granular, and context-aware control of access to applications; Edge Gateway, a remote access product, which offers context-aware, policy controlled, and remote access to applications at LAN speed; Enterprise Manager that allows customers to discover and view company?s products in a single window; and ARX product family, a series of high performance and enterprise-class intelligent file virtualization devices.


We are adding the following specific credit spreads to Portfolio #1:

Bear credit spreads = bearish call spreads.


We are adding the following specific credit spread to Portfolio #2:

Put credit spreads = bullish put spreads.