The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ABBOTT LABS COM 002824100 203 19,600 SH Call OTR 1 2 0 19,600 0
ACE LTD SHS H0023R105 109 996 SH   OTR 1 2 0 996 0
ACE LTD SHS H0023R105 106 11,300 SH Call OTR 1 2 0 11,300 0
ALCOA INC COM 013817101 65 10,000 SH Call OTR 1 2 0 10,000 0
ALLIED WRLD ASSUR COM HLDG A SHS H01531104 283 7,500 SH   OTR 1 2 0 7,500 0
ALLSTATE CORP COM 020002101 481 7,600 SH   OTR 1 2 0 7,600 0
ALLSTATE CORP COM 020002101 323 19,400 SH Call OTR 1 2 0 19,400 0
AMERICAN AIRLS GROUP INC COM 02376R102 211 15,800 SH Call OTR 1 2 0 15,800 0
AMERICAN INTL GROUP INC *W EXP 01/19/202 026874156 11 442 SH   OTR 1 2 0 442 0
AMERICAN INTL GROUP INC COM NEW 026874784 380 32,500 SH Call OTR 1 2 0 32,500 0
AMERICAN INTL GROUP INC COM NEW 026874784 397 7,520 SH   OTR 1 2 0 7,520 0
ARGO GROUP INTL HLDGS LTD COM G0464B107 202 3,724 SH   OTR 1 2 0 3,724 0
AT&T INC COM 00206R102 250 7,295 SH   OTR 1 2 0 7,295 0
BANK AMER CORP *W EXP 01/16/201 060505146 520 73,241 SH   OTR 1 2 0 73,241 0
BANK AMER CORP COM 060505104 10,173 605,536 SH   OTR 1 2 0 602,936 0
BANK AMER CORP COM 060505104 1,460 257,400 SH Call OTR 1 2 0 257,400 0
BB&T CORP COM 054937107 2,331 62,579 SH   OTR 1 2 0 62,386 0
BB&T CORP COM 054937107 349 71,600 SH Call OTR 1 2 0 71,600 0
BBCN BANCORP INC COM 073295107 273 19,981 SH   OTR 1 2 0 19,981 0
BECTON DICKINSON & CO COM 075887109 253 2,000 SH   OTR 1 2 0 2,000 0
BED BATH & BEYOND INC COM 075896100 139 15,000 SH Call OTR 1 2 0 15,000 0
BIOSCRIP INC COM 09069N108 90 14,802 SH   OTR 1 2 0 14,802 0
BRISTOL MYERS SQUIBB CO COM 110122108 152 2,800 SH   OTR 1 2 0 2,800 0
BRISTOL MYERS SQUIBB CO COM 110122108 213 20,000 SH Call OTR 1 2 0 20,000 0
BROOKLINE BANCORP INC DEL COM 11373M107 265 28,505 SH   OTR 1 2 0 28,505 0
CAPITAL ONE FINL CORP *W EXP 11/14/201 14040H139 3,939 102,256 SH   OTR 1 2 0 102,256 0
CAPITAL ONE FINL CORP COM 14040H105 1,841 22,810 SH   OTR 1 2 0 22,810 0
CAPITAL ONE FINL CORP COM 14040H105 60 5,000 SH Call OTR 1 2 0 5,000 0
CERUS CORP COM 157085101 441 104,837 SH   OTR 1 2 0 104,837 0
CIT GROUP INC COM NEW 125581801 671 13,900 SH   OTR 1 2 0 13,900 0
CIT GROUP INC COM NEW 125581801 103 15,000 SH Call OTR 1 2 0 15,000 0
CITIGROUP INC COM NEW 172967424 1,225 23,375 SH   OTR 1 2 0 23,350 0
CITIGROUP INC COM NEW 172967424 276 22,800 SH Call OTR 1 2 0 22,800 0
CLIFTON BANCORP INC COM 186873105 177 13,702 SH   OTR 1 2 0 13,702 0
CNO FINL GROUP INC COM 12621E103 5,146 289,571 SH   OTR 1 2 0 289,171 0
COMERICA INC *W EXP 11/14/201 200340115 1,648 95,642 SH   OTR 1 2 0 95,642 0
COMERICA INC COM 200340107 295 6,350 SH   OTR 1 2 0 6,350 0
CONNECTONE BANCORP INC NEW COM 20786W107 480 25,500 SH   OTR 1 2 0 25,500 0
DENBURY RES INC COM NEW 247916208 11 15,000 SH Call OTR 1 2 0 15,000 0
DISCOVER FINL SVCS COM 254709108 410 6,500 SH   OTR 1 2 0 6,500 0
DISCOVER FINL SVCS COM 254709108 388 23,800 SH Call OTR 1 2 0 23,800 0
E M C CORP MASS COM 268648102 111 23,300 SH Call OTR 1 2 0 23,300 0
EASTERN VA BANKSHARES INC COM 277196101 97 16,000 SH   OTR 1 2 0 16,000 0
ENDURANCE SPECIALTY HLDGS LT SHS G30397106 377 6,600 SH   OTR 1 2 0 6,600 0
ENTERPRISE FINL SVCS CORP COM 293712105 597 33,249 SH   OTR 1 2 0 33,049 0
ESSA BANCORP INC COM 29667D104 651 57,471 SH   OTR 1 2 0 56,788 0
FACEBOOK INC CL A 30303M102 444 5,500 SH   OTR 1 2 0 5,500 0
FIFTH THIRD BANCORP COM 316773100 2,018 103,386 SH   OTR 1 2 0 103,386 0
FIFTH THIRD BANCORP COM 316773100 87 74,000 SH Call OTR 1 2 0 74,000 0
FIRST CLOVER LEAF FIN CORP COM 31969M105 154 17,352 SH   OTR 1 2 0 17,352 0
FIRST DEFIANCE FINL CORP COM 32006W106 521 17,541 SH   OTR 1 2 0 17,016 0
FIRST SEC GROUP INC COM NEW 336312202 207 103,650 SH   OTR 1 2 0 101,000 0
GENERAL ELECTRIC CO COM 369604103 261 71,000 SH Call OTR 1 2 0 71,000 0
GENIE ENERGY LTD CL B 372284208 254 35,739 SH   OTR 1 2 0 35,339 0
GENWORTH FINL INC COM CL A 37247D106 74 22,000 SH Call OTR 1 2 0 22,000 0
GOLDMAN SACHS GROUP INC COM 38141G104 284 7,400 SH Call OTR 1 2 0 7,400 0
HAMPTON ROADS BANKSHARES INC COM NEW 409321502 879 517,877 SH   OTR 1 2 0 499,044 0
HANCOCK HLDG CO COM 410120109 1,087 31,683 SH   OTR 1 2 0 31,683 0
HANMI FINL CORP COM NEW 410495204 398 19,306 SH   OTR 1 2 0 19,306 0
HANOVER INS GROUP INC COM 410867105 849 13,026 SH   OTR 1 2 0 13,026 0
HARTFORD FINL SVCS GROUP INC *W EXP 06/26/201 416515120 1,586 52,155 SH   OTR 1 2 0 52,155 0
HOLOGIC INC FRNT 2.000%12/1 436440AB7 68 11,000 SH Call OTR 1 2 0 11,000 0
HUDSON CITY BANCORP COM 443683107 130 14,000 SH   OTR 1 2 0 14,000 0
HUDSON VALLEY HOLDING CORP COM 444172100 815 36,043 SH   OTR 1 2 0 36,043 0
HUNTINGTON BANCSHARES INC COM 446150104 625 64,330 SH   OTR 1 2 0 64,330 0
HUNTINGTON BANCSHARES INC COM 446150104 93 15,000 SH Call OTR 1 2 0 15,000 0
IBERIABANK CORP COM 450828108 240 3,605 SH   OTR 1 2 0 3,605 0
IMPAC MTG HLDGS INC COM NEW 45254P508 547 93,993 PRN   OTR 1 2 0 93,993 0
INVENSENSE INC COM 46123D205 1,224 20,534 SH   OTR 1 2 0 20,534 0
INVENSENSE INC COM 46123D205 1,253 128,100 SH Call OTR 1 2 0 128,100 0
INVESTORS BANCORP INC NEW COM 46146L101 1,727 167,717 SH   OTR 1 2 0 167,717 0
JPMORGAN CHASE & CO *W EXP 10/28/201 46634E114 2,567 132,139 SH   OTR 1 2 0 132,139 0
KEARNY FINL CORP COM 487169104 155 10,946 SH   OTR 1 2 0 10,946 0
KEYCORP NEW COM 493267108 1,858 142,960 SH   OTR 1 2 0 142,960 0
KEYCORP NEW COM 493267108 142 44,500 SH Call OTR 1 2 0 44,500 0
LEADING BRANDS INC COM NEW 52170U207 741 185,224 SH   OTR 1 2 0 185,224 0
LEGG MASON INC COM 524901105 419 8,200 SH   OTR 1 2 0 8,200 0
LENNAR CORP CL A 526057104 246 5,600 SH   OTR 1 2 0 5,600 0
LINCOLN NATL CORP IND COM 534187109 344 6,600 SH   OTR 1 2 0 6,600 0
M & T BK CORP *W EXP 12/23/201 55261F112 3,709 82,247 SH   OTR 1 2 0 82,247 0
MADISON SQUARE GARDEN CO CL A 55826P100 268 3,667 SH   OTR 1 2 0 3,667 0
MAIDEN HOLDINGS LTD SHS G5753U112 346 27,500 SH   OTR 1 2 0 27,500 0
MB FINANCIAL INC NEW COM 55264U108 8,887 297,729 SH   OTR 1 2 0 297,729 0
MERCHANTS BANCSHARES COM 588448100 250 8,360 SH   OTR 1 2 0 8,360 0
MERIDIAN BANCORP INC MD COM 58958U103 2,029 182,657 SH   OTR 1 2 0 182,157 0
METLIFE INC COM 59156R108 294 32,041 SH Call OTR 1 2 0 32,041 0
METLIFE INC COM 59156R108 797 15,280 SH   OTR 1 2 0 15,280 0
MICROSOFT CORP COM 594918104 171 16,100 SH Call OTR 1 2 0 16,100 0
MIDSOUTH BANCORP INC COM 598039105 267 14,042 SH   OTR 1 2 0 14,042 0
MONARCH FINANCIAL HOLDINGS I COM 60907Q100 362 29,420 SH   OTR 1 2 0 29,420 0
MORGAN STANLEY COM NEW 617446448 910 26,487 SH   OTR 1 2 0 25,845 0
MORGAN STANLEY COM NEW 617446448 447 45,300 SH Call OTR 1 2 0 45,300 0
NBT BANCORP INC COM 628778102 1,341 53,997 SH   OTR 1 2 0 53,997 0
NORTHWEST BANCSHARES INC MD COM 667340103 1,251 99,119 SH   OTR 1 2 0 98,519 0
PARTNERRE LTD COM G6852T105 778 6,761 SH   OTR 1 2 0 6,761 0
PATRIOT NATL BANCORP INC COM 70336F104 43 24,285 SH   OTR 1 2 0 24,285 0
PEOPLES FINL CORP MISS COM 71103B102 264 21,000 SH   OTR 1 2 0 21,000 0
PNC FINL SVCS GROUP INC *W EXP 12/31/201 693475121 270 11,890 SH   OTR 1 2 0 11,890 0
PNC FINL SVCS GROUP INC COM 693475105 3,559 42,321 SH   OTR 1 2 0 42,321 0
PNC FINL SVCS GROUP INC COM 693475105 130 18,000 SH Call OTR 1 2 0 18,000 0
POPULAR INC COM NEW 733174700 349 10,982 SH   OTR 1 2 0 10,982 0
PRUDENTIAL FINL INC COM 744320102 235 10,000 SH Call OTR 1 2 0 10,000 0
PUBLIC SVC ENTERPRISE GROUP COM 744573106 1,306 33,000 SH   OTR 1 2 0 33,000 0
RACKSPACE HOSTING INC COM 750086100 92 12,000 SH Call OTR 1 2 0 12,000 0
REGIONS FINL CORP NEW COM 7591EP100 675 69,944 SH   OTR 1 2 0 67,100 0
REGIONS FINL CORP NEW COM 7591EP100 291 169,100 SH Call OTR 1 2 0 169,100 0
RITE AID CORP COM 767754104 2,161 427,103 SH   OTR 1 2 0 427,103 0
RITE AID CORP COM 767754104 47 30,000 SH Call OTR 1 2 0 30,000 0
ROSS STORES INC COM 778296103 137 10,000 SH Call OTR 1 2 0 10,000 0
SEACOAST BKG CORP FLA COM NEW 811707801 1,790 143,375 SH   OTR 1 2 0 141,837 0
SKYWORKS SOLUTIONS INC COM 83088M102 434 14,000 SH Call OTR 1 2 0 14,000 0
SOUTH ST CORP COM 840441109 2,033 33,836 SH   OTR 1 2 0 33,836 0
SOUTHCOAST FINANCIAL CORP COM 84129R100 198 28,079 SH   OTR 1 2 0 28,079 0
SOUTHERN NATL BANCORP OF VA COM 843395104 2,163 189,055 SH   OTR 1 2 0 189,055 0
STATE BK FINL CORP COM 856190103 483 27,200 SH   OTR 1 2 0 27,200 0
STATE STR CORP COM 857477103 445 6,100 SH   OTR 1 2 0 6,100 0
STATE STR CORP COM 857477103 41 20,000 SH Call OTR 1 2 0 20,000 0
STERLING BANCORP DEL COM 85917A100 556 40,509 SH   OTR 1 2 0 40,509 0
SUNTRUST BKS INC *W EXP 12/31/201 867914129 192 20,554 SH   OTR 1 2 0 20,554 0
SUNTRUST BKS INC COM 867914103 196 32,000 SH Call OTR 1 2 0 32,000 0
SUNTRUST BKS INC COM 867914103 1,037 26,998 SH   OTR 1 2 0 26,620 0
SUSQUEHANNA BANCSHARES INC P COM 869099101 276 29,373 SH   OTR 1 2 0 29,373 0
SYNOVUS FINL CORP COM NEW 87161C501 2,340 93,851 SH   OTR 1 2 0 92,905 0
TALISMAN ENERGY INC COM 87425E103 2 20,000 SH Call OTR 1 2 0 20,000 0
TRAVELERS COMPANIES INC COM 89417E109 120 1,200 SH   OTR 1 2 0 1,200 0
TRAVELERS COMPANIES INC COM 89417E109 575 32,100 SH Call OTR 1 2 0 32,100 0
UNITED CMNTY BANCORP IND COM 90984R101 350 30,000 SH   OTR 1 2 0 30,000 0
UNITED FINL BANCORP INC NEW COM 910304104 666 48,926 SH   OTR 1 2 0 48,926 0
UNITED PARCEL SERVICE INC CL B 911312106 206 2,000 SH   OTR 1 2 0 2,000 0
UNITED PARCEL SERVICE INC CL B 911312106 54 6,000 SH Call OTR 1 2 0 6,000 0
US BANCORP DEL COM NEW 902973304 1,030 24,800 SH   OTR 1 2 0 24,800 0
WATERSTONE FINL INC MD COM 94188P101 224 18,561 SH   OTR 1 2 0 18,561 0
WELLS FARGO & CO NEW *W EXP 10/28/201 949746119 546 26,400 SH   OTR 1 2 0 26,400 0
WELLS FARGO & CO NEW COM 949746101 291 5,619 SH   OTR 1 2 0 5,619 0
WELLS FARGO & CO NEW COM 949746101 694 70,100 SH Call OTR 1 2 0 70,100 0
XL GROUP PLC SHS G98290102 401 12,000 SH   OTR 1 2 0 12,000 0
YOU ON DEMAND HLDGS INC COM NEW 98741R207 45 25,732 SH   OTR 1 2 0 25,300 0