We are adding to our April Portfolio #1 with the following credit spread.

We are recommending a credit spread in the following issue for Portfolio #1.

TCK - Teck Resources Limited (Teck) is engaged in exploring for, developing and producing natural resources. The Company’s activities are organized into business units focused on copper, coal, zinc and energy. Teck’s principal products are copper, steelmaking coal and zinc. Lead, molybdenum, silver and various specialty and other metals, chemicals and fertilizers are by-products produced at its operations. The Company owns a 20% interest in the Fort Hills Energy Limited Partnership, which is developing the Fort Hills oil sands project in Alberta, and a 50% interest in certain other oil sands leases in the Athabasca region of Alberta. Teck is also active in exploration for gold. On January 25, 2010, the Company sold its 60% interest in the Agi Dagi and Kirazli gold projects in Turkey to Alamos Gold Incorporated (Alamos). On September 22, 2010, Teck signed a joint venture agreement with Suncor Energy Products Inc. (Suncor Energy) to develop the Wintering Hills wind power project.

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

Put credit spreads = bullish put spreads.