Third Party Verification

• Futures and Options Trader Magazine 11/01/07 - Adjusting Your Collar
  "If you own or have just bought stock, you can create a standard collar by buying a put and selling a call to offset the put's cost. A collar is a conservative low-risk, low-return strategy, because the long put caps risk below its strike price, and the short call reduces any potential upside gains above its strike price."
  Note - PDF version of "Adjusting Your Collar" available here
• Reuters 2/14/07 - Bullish options in Garmin fly after Q4 results
  "Bullish options were very busy in navigational device maker Garmin Ltd (GRMN.O: Quote, Profile, Research) after its quarterly earnings more than doubled and the company forecast a strong 2007. Garmin shares rose 6 percent to $55.90 in early afternoon trading after posting a new high of $59.30. "This is a stock that option traders seem to think is going to have not only a great 2007, but also a great few days," said Greg Jensen at online options education firm Spread Trade Systems."
• The Street 2/13/07 - Spread Trade Systems in Steve Smith's online blog
  "Another good educational site is SpreadTradeSystems. As the name implies, this online option educational service emphasizes using limited risk/reward strategies to achieve consistent returns."
• Reuters 9/11/06 - Option players brace for earnings move in Best Buy
  "Best Buy options are often active just before the company reports earnings but this time there could be more uncertainty built into the upcoming report, said Greg Jensen, executive vice president of Spread Trade Systems, a Utah-based options education firm. That uncertainty comes from speculation over whether higher gasoline prices hurt consumer spending. "This is especially true at a store like Best Buy where almost everything they have in stock one could consider a 'discretionary item'," Jensen said. "One thing for sure, the options are expensive right now." "
• Investors.com 8/29/06 - Options On ETFs Help Cash Flow, Hedging
  "Greg Jensen, executive vice president at Spread Trade Systems, a provider of online options education, says one of the biggest uses he's seen for ETF options is as a hedge against mutual fund portfolios. "There are certain times of the year when volatility is much more likely, particularly earnings season, around stocks," he said."
• Reuters 7/17/06 - Drop in oil drives blue-chips up
  ""The markets are just trying to catch their breath from the beatings they took last week and get ready for the next round of (earnings) announcements," said Greg Jensen, executive vice president of Spread Trade Systems, a Utah-based options education firm. "The markets are bracing for continued Middle East tensions as well as earnings from some of the biggest stocks, including IBM, Apple and Microsoft." he added."
• Reuters 6/30/06 - Option players turn wary on proposed GM tie-up
  ""This potential venture between GM and Nissan/Renault should, if nothing else, increase the excitement around a stock that for the last year has not been a good long-term investment for anyone," said Greg Jensen, Executive Vice President at Spread Trade Systems, a Utah-based provider of online options education."
• Reuters 6/29/06 - U.S. options fear gauge slides after Fed rate hike
  ""The key comment from the Fed that moved the markets to the upside was that they view that economic growth has moderated," said Greg Jensen, executive vice president of Spread Trade Systems, a Utah-based options education firm. He noted "this hint of a Fed becoming less hawkish than they had been in the past" encouraged investors, and sent the major stock benchmarks to the highs of Thursday's session."