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

We are recommending this credit spread for our Portfolio #1 in the following issue(s).

We are recommending a JCP September 14/13 put spread on JCP to complete an iron butterfly when joined with our existing call spread position on JCP .

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

We are recommending the following specific credit spread(s).

Put credit spreads = Bullish put spreads.