We are recommending the following credit spreads to the JULY expiration cycle.

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

We are recommending put spreads on BBY and ANF to complete iron condors when joined with our existing call spread positions in BBY and ANF.

These spreads will not require any additional margin with the right brokerage firms.

We are recommending the following specific credit spreads.

Put credit spreads = Bullish put spreads.