We are recommending the following credit spreads to start the January 2015 expiration cycle.
We are recommending credit spreads for our Portfolio #1 in
the following issue(s).
DDD - 3D Systems Corporation, through its subsidiaries, operates as a provider of 3D printing centric design-to-manufacturing solutions in the United States, Germany, the Asia-Pacific, and other European countries. Its 3D printers convert data input from computer aided design generated software format or 3D scanning and sculpting devices to printed parts. The company offers stereolithography, selective laser sintering, direct metal sintering, multi-jet modeling, color jet printing, and film transfer imaging printers, as well as plastic jet printing products. It also blends, markets, sells, and distributes proprietary, consumable, engineered plastic, nylon, and metal materials and composites for the use in printers under Accura, DuraForm, CastForm, LaserForm, and VisiJet brand names. In addition, the company provides Geomagic software packages and design tools for reverse engineering, inspection, and haptic design packages; Cubify Invent and Cubify Design CAD software solutions; and 3D scanner products. Further, it offers pre-sale and post-sale services comprising applications development and custom engineered production solutions; and installation, warranty, and maintenance services, as well as proprietary software printer drivers. The company primarily serves manufacturers of automotive, aerospace, computer, electronic, defense, education, consumer, energy, and healthcare products, as well as original equipment manufacturers, government agencies, universities, independent service bureaus, and individual consumers. The company sells its products and services through its direct sales organization, sales agents, resellers, and distributors. 3D Systems Corporation was founded in 1986 and is headquartered in Rock Hill, South Carolina.
TWTR - Twitter, Inc. is a global platform for public self-expression and conversation in real time. It provides various products for users, including Twitter that allows users to express themselves and create, distribute, and discover content; Vine, a mobile application available on the iOS, Android, and Windows operating systems that enables users to create and distribute short looping videos; and #Music, a mobile application that helps users discover new music and artists based on Tweets. The company also provides a set of tools, public APIs, and embeddable widgets that developers can use to contribute their content to its platform; distribute Twitter content across their properties; and enhance their Websites and applications with Twitter content. In addition, Twitter, Inc. offers promoted products, including promoted tweets, promoted accounts, and promoted trends that enable its advertisers to promote their brands, products, and services; and provides subscription access to its data feed for data partners. The company was founded in 2006 and is headquartered in San Francisco, California.
FCX - Freeport-McMoRan Inc., a natural resource company, is engaged in the acquisition of mineral assets, and oil and natural gas resources. The company primarily explores for copper, gold, molybdenum, cobalt, silver, and other metals, as well as oil and gas. It operates in North America Copper Mines, South America Mining, Indonesia Mining, Africa Mining, and Molybdenum Mines, United States (U.S.) Oil and Gas Operations, Rod & Refining, and Atlantic Copper Smelting & Refining segments. The company holds interests in various mines located in the Grasberg minerals district in Indonesia; Morenci, Bagdad, Safford, Sierrita, Miami, Chino, Tyrone, Henderson, and Climax in North America; Cerro Verde, El Abra, Candelaria, and Ojos del Salado in South America; and Tenke Fungurume minerals district in Africa. As of December 31, 2013, its consolidated recoverable proven and probable mineral reserves included 111.2 billion pounds of copper, 31.3 million ounces of gold, 3.26 billion pounds of molybdenum, 308.5 million ounces of silver, and 0.87 billion pounds of cobalt. The company was formerly known as Freeport-McMoRan Copper & Gold Inc. and changed its name to Freeport-McMoRan Inc. in July 2014. Freeport-McMoRan Inc. was founded in 1987 and is headquartered in Phoenix, Arizona.
GDX - The Gold Miners investment trust seeks to replicate as closely as possible, before fees and expenses, the price and yield performance of the NYSE Arca Gold Miners Index. The fund normally invests at least 80% of its total assets in common stocks and depositary receipts of companies involved in the gold mining industry. Such companies may include small- and medium-capitalization companies and foreign issuers. The Gold Miners Index is a modified market-capitalization weighted index primarily comprised of publicly traded companies involved in the mining for gold and silver. The fund is non-diversified.
So we are recommending the following specific credit spreads for Portfolio #1:
Call credit spreads - Bearish Call spreads.
We are recommending the following credit spreads to the December 2014 expiration cycle.
We are recommending credit spreads for our Portfolio #2 in
the following issues.
WYNN - Wynn Resorts, Limited, together with its subsidiaries, develops, owns, and operates destination casino resorts. It operates in two segments, Macau Operations and Las Vegas Operations. The company operates Wynn Macau and Encore at Wynn Macau resort located in the PeopleÂ’s Republic of China. Its Macau resorts feature two luxury hotel towers with a total of 1,008 rooms and suites; 493 table games; 866 slot machines; a poker pit in approximately 280,000 square feet of casino gaming space; 8 restaurants; 2 spas and 1 salon; lounges; meeting facilities; 2 health clubs and spas; and approximately 57,000 square feet of retail space featuring boutiques, as well as a show in the rotunda. The company also owns and operates Wynn Las Vegas and Encore at Wynn Las Vegas resort with a total of 4,748 hotel rooms, suites, and villas; 230 table games; 1,854 slot machines; a race and sports book and poker room in approximately 186,000 square feet of casino gaming space, including a sky casino and private gaming salons; 34 food and beverage outlets; 2 spas and salons; lounges; and approximately 96,000 square feet of retail space featuring various boutiques. Its Las Vegas resorts also offer 3 nightclubs; a beach club; a Ferrari and Maserati automobile dealership; wedding chapels; an 18-hole golf course; approximately 283,000 square feet of meeting space; a theater; and an Encore theater presenting various headliner entertainment acts, as well as provides 2 showrooms and a beach club. Wynn Resorts, Limited was founded in 2002 and is based in Las Vegas, Nevada.
QCOM - QUALCOMM Incorporated designs, develops, manufactures, and markets digital communications products and services in China, South Korea, Taiwan, and the United States. The company operates through three segments: Qualcomm CDMA Technologies (QCT), Qualcomm Technology Licensing (QTL), and Qualcomm Strategic Initiatives (QSI). The QCT segment develops and supplies integrated circuits and system software based on code division multiple access (CDMA), orthogonal frequency division multiple access (OFDMA), and other technologies for use in voice and data communications, networking, application processing, multimedia, and global positioning system products. The QTL segment grants licenses or rights to use portions of its intellectual property portfolio, which includes patent rights useful in the manufacture and sale of various wireless products, such as products implementing CDMA2000, WCDMA, CDMA TDD, GSM/GPRS/EDGE, and/or OFDMA standards, as well as their derivatives. The QSI segment invests in early-stage companies that support the design and introduction of new products and services, as well as holds a wireless spectrum license. The company also plans to license its next generation IMOD display technology and to focus on wearable devices; and develops and licenses display technologies based on micro-electro-mechanical-systems structure for portable multimedia devices, as well as develops and supplies 3G/LTE and Wi-Fi products designed for implementation of small mobile base stations. In addition, it provides software, content, and push-to-talk enablement services to wireless operators; development, and other services and related products to government agencies and their contractors; device-to-device communication, including software for the connected home; data center products; medical device connectivity and related data management services; and augmented reality system. QUALCOMM Incorporated was founded in 1985 and is headquartered in San Diego, California.
GPRO - GoPro, Inc. develops hardware and software solutions to alleviate consumer pain points associated with capturing, managing, sharing, and enjoying engaging content. The company offers HERO line of cameras; premium accessories, including battery BacPac, Wi-Fi remote, and LCD touch BacPac accessories; and mounts comprising equipment-based mounts, such as helmet, handlebar, roll bar, and tripod mounts that enable consumers to capture content while engaged in a range of activities, as well as mounts that enable customers to wear the mount on their bodies consisting of wrist housings, chest harnesses, and head straps. The company also offers other accessories that include spare batteries, charging accessories, cables to connect its GoPro cameras to televisions and monitors, video transmitters, external microphones, flotation devices, dive filters, and anti-fogging solutions, as well as accessories for the Wi-Fi remotes. In addition, it provides GoPro Studio, a video editing tool that allows its customers to create professional quality videos from their GoPro content; and GoPro App enables customers to easily and wirelessly manage and share content from its HERO capture devices. GoPro, Inc. sells its products through retailers and wholesale distributors, as well as through its Website in the United States and internationally. The company was formerly known as Woodman Labs, Inc. and changed its name to GoPro, Inc. in February 2014. GoPro, Inc. was founded in 2004 and is headquartered in San Mateo, California.
XOM - Exxon Mobil Corporation explores and produces for crude oil and natural gas. As of December 31, 2013, the company had approximately 37,661 gross and 31,823 net operated wells. It also manufactures and markets commodity petrochemicals, including olefins, aromatics, polyethylene, polypropylene plastics, and specialty products; and transports and sells crude oil, natural gas, and petroleum products. In addition, the company has interests in electric power generation facilities. It operates in the United States, Canada/South America, Europe, Africa, Asia, and Australia/Oceania. Exxon Mobil Corporation was founded in 1870 and is headquartered in Irving, Texas.
GLD - The GOLD ETF investment seeks to replicate the performance, net of expenses, of the price of gold bullion. The trust holds gold, and is expected to issue baskets in exchange for deposits of gold, and to distribute gold in connection with redemption of baskets. The gold held by the trust will only be sold on an as-needed basis to pay trust expenses, in the event the trust terminates and liquidates its assets, or as otherwise required by law or regulation.
We are recommending the following specific credit spreads for Portfolio #2:
Call credit spreads - Bearish Call spreads.
We are recommending the following credit spreads to the December 2014 expiration cycle.
We are recommending credit spreads for our Portfolio #3 in
the following issues.
SLV - The Silver Trust ETF seeks to reflect generally the performance of the price of silver. The Trust seeks to reflect such performance before payment of the Trusts expenses and liabilities. The Trust is not actively managed. It does not engage in any activities designed to obtain a profit from, or to ameliorate losses caused by, changes in the price of silver. The Trust receives silver deposited with it in exchange for the creation of Baskets of Shares, sells silver as necessary to cover the Trust expenses and other liabilities and delivers silver in exchange for Baskets of Shares surrendered to it for redemption.
CLF - Cliffs Natural Resources Inc., a mining and natural resources company, produces iron ore and metallurgical coal. It operates five iron ore mines located in Michigan and Minnesota; four metallurgical coal mines located in West Virginia and Alabama; and one thermal coal mine located in West Virginia. The company also operates two iron ore mines in eastern Canada that primarily produce iron ore concentrate and iron ore pellets; Koolyanobbing complex situated in northeast of the town of Southern Cross, which produces lump and fines iron ore; and three North American coal mining complexes. In addition, it owns and operates various exploration projects, such as the Chromite Project located in James Bay lowlands of northern Ontario; the Decar Property situated in British Columbia; and the Labrador Trough South property located in Fermont, QuÃ©bec. The company sells its iron products to integrated steel companies and Asian steel producers; and metallurgical coal to integrated steel and coke producers in Europe, North America, China, India, and South America, as well as thermal coal to energy companies and distributors in North America and Europe. The company, formerly known as Cleveland-Cliffs Inc., was founded in 1847 and is headquartered in Cleveland, Ohio.
AKS - AK Steel Holding Corporation, through its subsidiary, AK Steel Corporation, produces flat-rolled carbon, stainless and electrical steel, and tubular products in the United States and internationally. It produces flat-rolled value-added carbon steels, including coated, cold-rolled, and hot-rolled carbon steel products; and specialty stainless and electrical steels in sheet and strip forms. The company also produces carbon and stainless steel that is finished into welded steel tubing, which is used in the automotive, large truck, industrial, and construction markets; buys and sells steel and steel products, and other materials; and produces metallurgical coal from reserves in Pennsylvania. It sells its flat-rolled carbon steel products primarily to automotive manufacturers and to customers in the infrastructure and manufacturing markets, including electrical transmission, heating, ventilation and air conditioning equipment, and appliances; and coated, cold-rolled, and hot-rolled carbon steel products to distributors, service centers, and converters. The company sells its stainless steel products to manufacturers and their suppliers in the automotive industry; manufacturers of food handling, chemical processing, pollution control, and medical and health equipment; and distributors and service centers. It also sells electrical steel products to manufacturers of power transmission and distribution transformers, as well as for use in the manufacture of electrical motors and generators. AK Steel Holding Corporation was founded in 1993 and is headquartered in West Chester, Ohio.
P - Pandora Media, Inc. provides Internet radio services in the United States. The company allows listeners to create up to 100 personalized stations to access free music and comedy, as well as offers Pandora One, a paid subscription service to listeners. It is also involved in the sale of displays, audio advertising, and video advertising products to advertisers for delivery on computer, mobile, and other connected device platforms. As of December 31, 2013, the company had approximately 200 million registered users; and 76.2 million active users. Pandora Media, Inc. was founded in 2000 and is headquartered in Oakland, California.
Hence, we are adding the following specific credit spreads for Portfolio #3:
Call credit spread - Bearish Call Spread.