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

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

MTW - The Manitowoc Company, Inc. engages in the design, manufacture, and sale of cranes and related products, and foodservice equipment worldwide. It operates through two segments, Cranes and Related Products, and Foodservice Equipment. The Cranes and Related Products segment offers lattice-boom cranes, including crawler and truck mounted lattice-boom cranes, and crawler crane attachments; tower cranes comprising top slewing luffing jib, topless, and self- erecting tower cranes; mobile telescopic cranes consisting of rough terrain, all-terrain, truck mounted, and industrial cranes; and boom trucks, such as telescopic boom trucks under the Manitowoc, Grove, Potain, National Crane, Shuttlelift, Crane care, and Dongyue brands. Its products are used for various applications, including energy and utilities; petrochemical and industrial projects; infrastructure development, such as road, bridge, and airport construction; and commercial and high-rise residential construction industries. This segment also provides crane product parts and services, and crane rebuilding, remanufacturing, and training services under the Manitowoc Crane Care brand name. The Foodservice Equipment segment provides cooking and warming equipment; ice machines and storage bins; refrigerator and freezer equipment; beverage dispensers and related products; serving and storage equipment; and food preparation equipment. This segment offers its products under Cleveland, Convotherm, Delfield, Frymaster, Garland, Kolpak, Kysor Panel Systems, Lincoln, Manitowoc, Merrychef, Multiplex, and Servend brand names. Its products are primarily used by commercial and institutional foodservice operators, such as full service restaurants, quick-service restaurant chains, hotels, caterers, supermarkets, convenience stores, business and industry, hospitals, schools, and other institutions. This segment also provides foodservice equipment parts and services. The company was founded in 1853 and is based in Manitowoc, Wisconsin.

AMRN - Amarin Corporation plc, a biopharmaceutical company, focuses on the development and commercialization therapeutic products for the treatment for cardiovascular diseases. Its product development program areas include lipid science and therapeutic benefits of polyunsaturated fatty acids. The company lead product comprises Vascepa, a prescription-only omega-3 fatty acid comprising icosapent ethyl as an adjunct to diet to reduce triglyceride levels in adult patients with severe hypertriglyceridemia. It also engages in developing Vascepa for the treatment of patients with high triglyceride levels who are also on statin therapy for elevated low-density lipoprotein cholesterol levels. The company was formerly known as Ethical Holdings plc. Amarin Corporation plc was founded in 1989 and is headquartered in Dublin, Ireland.

We are recommending the following specific credit spreads.

Call credit spreads = Bearish call spreads.


We are NOT recommending any additional October credit spreads to our Portfolio #2 tonight.

However, we will be limiting the number of positions in Portfolio #2 to just 5 spreads for the month of October and going forward.

Additionally, starting with the November recommendations we will be using stops with all new initiated positions.

I have not yet, decided rather to use NET DEBIT stop prices on the option prices or stop prices on the STOCK prices to initiate the closing of positions.

I will try both types of stops on the future coming October recommendations in Portfolio #2 ,as a trial to help determine which stops will be utilized as the standard for the start of the November recommendations.

And finally, I will be issuing fewer recommendations in Portfolio #1 starting in November.

Starting in November, in Portfolio #1 will utilize 10 contract positions instead of 20 contract positions and be limited to 10 positions, with most of them being done 5-6 weeks weeks before the November expiration, meaning about 1 week before October options expire.

The remaining positions for November will be recommended the weekend after the October positions go off the board.

When all recommendations for the month have been made, a SUPPLEMENTAL list of trades representing both sides of the market will be suggested, and from this list you may choose to supplement additional trades that you consider to your liking.

As with all of our SUPPLEMENTAL PLAYS you have to decide which ones are best suited to your risk tolerance.

Going forward starting in November we will three portfolios, which will have three types of recommendations and by limiting the number of selection choices, we can potentially limit our risk exposure a lot more.

We may even go to a PORTFOLIO that may offer only call spreads and a PORTFOLIO that might only offer put spreads.

We will also be trying out a 3rd Portfolio in October and November to see how the reaction will be using only low price stocks where we will be initially placing both the call and the put spread sides on the underlying security.

These two-sided trades, more commonly called," IRON CONDORS" will represent the 3rd portfolio which will consist of trades on both sides of the issue.

As I mentioned, we will try that our here and again in November to determine if it becomes a permanent fixture.

We will probably begin with a few of the Portfolio #3 trades either tomorrow evening or more likely over the weekend as we will need to dispose of several positions from our October Portfolio tomorrow and Friday when the October option series comes off the board.

Thursday night will also have a disposition of any open positions that we have going into Friday that we will have to deal with.

Depending on what happens tomorrow , there could be several.

Finally, if any position that is currently open needs to be acted on tomorrow, hence meaning before Friday, you will be emailed on what action needs to be taken tomorrow , if necessary.