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

We are recommending this credit spread for our Portfolio #1 in the following issues.

We are recommending a put spread on ANF to complete an iron butterfly when joined with our existing call spread position on ANF.

This spread will not require any additional margin with the right brokerage firms.

We are recommending the following specific credit spread.

Put credit spreads = Bullish put spreads.