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
AK STL CORP Note 001546AP5 19,085 11,500,000 SH   SOLE   11,500,000 11,500,000 0
ALLIED NEVADA GOLD CORP COM 019344100 9,578 2,547,400 SH Put SOLE   2,547,400 2,547,400 0
ALLIED NEVADA GOLD CORP COM 019344100 602 160,000 SH Put SOLE   160,000 160,000 0
ALLIED NEVADA GOLD CORP COM 019344100 1,239 329,400 SH Put SOLE   329,400 329,400 0
ALPHA NATURAL RESOURCES INC COM 02076X102 48,184 1,450,000 SH Put SOLE   1,450,000 1,450,000 0
AMBEV SA SPONSORED ADR 02319V103 605 86,000 SH   SOLE   86,000 86,000 0
AMERICAN INTL GROUP INC COM 026874784 573 10,500 SH   SOLE   10,500 10,500 0
ANADARKO PETE CORP COM 032511107 45,379 414,538 SH   SOLE   414,538 414,538 0
ANADARKO PETE CORP COM 032511107 49,262 450,000 SH Call SOLE   450,000 450,000 0
ANGLOGOLD ASHANTI LTD SPONSORED ADR 035128206 17,399 1,011,000 SH Put SOLE   1,011,000 1,011,000 0
ANHEUSER BUSCH INBEV SA/NV SPONSORED ADR 03524A108 287 2,500 SH   SOLE   2,500 2,500 0
ANNALY CAP MGMT INC Note 035710AA0 4,765 4,500,000 SH   SOLE   4,500,000 4,500,000 0
ARCH COAL INC COM 039380100 1,278 350,000 SH Put SOLE   350,000 350,000 0
ARCH COAL INC COM 039380100 997 273,096 SH   SOLE   273,096 273,096 0
ATHLON ENERGY INC COM 047477104 12,978 272,080 SH   SOLE   272,080 272,080 0
ATWOOD OCEANICS INC COM 050095108 16,176 308,231 SH   SOLE   308,231 308,231 0
AXIALL CORP COM 05463D100 6,381 135,000 SH   SOLE   135,000 135,000 0
BAIDU INC SPON ADR REP A 056752108 383 2,050 SH   SOLE   2,050 2,050 0
BANCO BRADESCO S A SP ADR PFD 059460303 174 12,000 SH   SOLE   12,000 12,000 0
BANCO DE CHILE SPONSORED ADR 059520106 401 5,000 SH   SOLE   5,000 5,000 0
BANK OF AMERICA CORPORATION COM 060505104 23,619 1,536,686 SH   SOLE   1,536,686 1,536,686 0
BARRICK GOLD CORP COM 067901108 14,096 770,300 SH   SOLE   770,300 770,300 0
BED BATH & BEYOND INC COM 075896100 4,883 85,100 SH   SOLE   85,100 85,100 0
BERKSHIRE HATHAWAY INC DEL CL B 084670702 544 4,300 SH   SOLE   4,300 4,300 0
BRF SA SPONSORED ADR 10552T107 292 12,000 SH   SOLE   12,000 12,000 0
CAESARS ENTMT CORP COM 127686103 7,232 400,000 SH Put SOLE   400,000 400,000 0
CANADIAN NAT RES LTD COM 136385101 27,821 606,000 SH   SOLE   606,000 606,000 0
CANADIAN SOLAR INC COM 136635109 9,444 302,100 SH Put SOLE   302,100 302,100 0
CARRIZO OIL & GAS INC COM 144577103 6,718 97,001 SH   SOLE   97,001 97,001 0
CEMEX SAB DE CV SPON ADR 151290889 413 31,200 SH   SOLE   31,200 31,200 0
CHINA MOBILE LIMITED SPONSORED ADR 16941M109 267 5,500 SH   SOLE   5,500 5,500 0
CIMAREX ENERGY CO COM 171798101 33,713 235,000 SH   SOLE   235,000 235,000 0
CIMAREX ENERGY CO COM 171798101 14,346 100,000 SH Put SOLE   100,000 100,000 0
CITIGROUP INC COM 172967424 5,888 125,000 SH Call SOLE   125,000 125,000 0
CITIGROUP INC COM 172967424 7,070 150,100 SH Call SOLE   150,100 150,100 0
CITIGROUP INC COM 172967424 5,888 125,000 SH Put SOLE   125,000 125,000 0
CITIGROUP INC COM 172967424 50,573 1,073,733 SH   SOLE   1,073,733 1,073,733 0
CLAYMORE EXCHANGE TRD FD TR GUGGENHEIM SOLAR 18383Q739 2,362 53,000 SH   SOLE   53,000 53,000 0
CME GROUP INC COM 12572Q105 2,143 30,200 SH   SOLE   30,200 30,200 0
COBALT INTL ENERGY INC COM 19075F106 11,928 650,000 SH Put SOLE   650,000 650,000 0
COBALT INTL ENERGY INC Note 19075FAA4 42,636 46,000,000 SH   SOLE   46,000,000 46,000,000 0
COEUR MNG INC COM 192108504 6,885 750,000 SH Put SOLE   750,000 750,000 0
CONCHO RES INC COM 20605P101 14,450 100,000 SH Put SOLE   100,000 100,000 0
CONSOL ENERGY INC COM 20854P109 6,516 141,429 SH   SOLE   141,429 141,429 0
CONTINENTAL RESOURCES INC COM 212015101 15,804 100,000 SH Put SOLE   100,000 100,000 0
COPA HOLDINGS SA CL A P31076105 264 1,850 SH   SOLE   1,850 1,850 0
COSTCO WHSL CORP NEW COM 22160K105 518 4,500 SH   SOLE   4,500 4,500 0
DEVON ENERGY CORP NEW COM 25179M103 2,870 36,144 SH   SOLE   36,144 36,144 0
DIAGEO P L C SPON ADR 25243Q205 547 4,300 SH   SOLE   4,300 4,300 0
DIAMONDBACK ENERGY INC COM 25278X109 9,199 103,592 SH   SOLE   103,592 103,592 0
DRYSHIPS INC. Note 262498AB4 19,783 20,000,000 SH   SOLE   20,000,000 20,000,000 0
E HOUSE CHINA HLDGS LTD ADR 26852W103 5,190 600,000 SH Put SOLE   600,000 600,000 0
EDISON INTL COM 281020107 1,185 20,400 SH   SOLE   20,400 20,400 0
EOG RES INC COM 26875P101 20,841 178,345 SH   SOLE   178,345 178,345 0
EOG RES INC COM 26875P101 14,608 125,000 SH Put SOLE   125,000 125,000 0
EQT CORP COM 26884L109 44,509 416,362 SH   SOLE   416,362 416,362 0
EXELIXIS INC Note 30161QAC8 5,243 6,000,000 SH   SOLE   6,000,000 6,000,000 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 11,573 317,066 SH   SOLE   317,066 317,066 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 9,154 250,800 SH Call SOLE   250,800 250,800 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 4,344 119,000 SH Call SOLE   119,000 119,000 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 10,950 300,000 SH Call SOLE   300,000 300,000 0
GENERAL MTRS CO COM 37045V100 18,150 500,000 SH Call SOLE   500,000 500,000 0
GENERAL MTRS CO COM 37045V100 4,570 125,900 SH Call SOLE   125,900 125,900 0
GENERAL MTRS CO COM 37045V100 28,966 797,972 SH   SOLE   797,972 797,972 0
GILEAD SCIENCES INC COM 375558103 2,487 30,000 SH Call SOLE   30,000 30,000 0
GOODRICH PETE CORP Note 382410AC2 4,172 4,000,000 SH   SOLE   4,000,000 4,000,000 0
GOOGLE INC CL A 38259P508 339 580 SH   SOLE   580 580 0
GRUPO TELEVISA SA SPON ADR REP ORD 40049J206 662 19,300 SH   SOLE   19,300 19,300 0
GULFPORT ENERGY CORP COM 402635304 6,663 106,099 SH   SOLE   106,099 106,099 0
HALLIBURTON CO COM 406216101 28,212 397,293 SH   SOLE   397,293 397,293 0
HALLIBURTON CO COM 406216101 21,303 300,000 SH Call SOLE   300,000 300,000 0
HALLIBURTON CO COM 406216101 6,213 87,500 SH Put SOLE   87,500 87,500 0
HDFC BANK LTD ADR REPS 3 SHS 40415F101 609 13,000 SH   SOLE   13,000 13,000 0
HESS CORP COM 42809H107 27,381 276,885 SH   SOLE   276,885 276,885 0
HORNBECK OFFSHORE SVCS INC N COM 440543106 1,662 35,418 SH   SOLE   35,418 35,418 0
HUNTSMAN CORP COM 447011107 18,701 665,533 SH   SOLE   665,533 665,533 0
IAMGOLD CORP COM 450913108 3,296 800,000 SH Put SOLE   800,000 800,000 0
INTEROIL CORP Note 460951AC0 4,019 4,000,000 SH   SOLE   4,000,000 4,000,000 0
ISHARES MSCI EMG MKT ETF 464287234 29,937 692,500 SH Call SOLE   692,500 692,500 0
ISHARES MSCI EMG MKT ETF 464287234 11,240 260,000 SH Call SOLE   260,000 260,000 0
ISHARES MSCI EMG MKT ETF 464287234 81,324 1,881,200 SH Call SOLE   1,881,200 1,881,200 0
ISHARES MSCI EMG MKT ETF 464287234 21,615 500,000 SH Call SOLE   500,000 500,000 0
ISHARES MSCI EMG MKT ETF 464287234 252,463 5,840,000 SH Call SOLE   5,840,000 5,840,000 0
ISHARES MSCI EMG MKT ETF 464287234 23,634 546,700 SH Call SOLE   546,700 546,700 0
ISHARES MSCI EMG MKT ETF 464287234 21,615 500,000 SH Call SOLE   500,000 500,000 0
ISHARES MSCI HONG KG ETF 464286871 15,997 766,141 SH   SOLE   766,141 766,141 0
ISHARES MSCI MEX CAP ETF 464286822 19,465 287,056 SH   SOLE   287,056 287,056 0
ISHARES MSCI STH KOR ETF 464286772 18,239 280,519 SH   SOLE   280,519 280,519 0
ISHARES RUSSELL 2000 ETF 464287655 10,277 86,500 SH Call SOLE   86,500 86,500 0
ISHARES RUSSELL 2000 ETF 464287655 66,771 562,000 SH   SOLE   562,000 562,000 0
JINKOSOLAR HLDG CO LTD SPONSORED ADR 47759T100 6,788 225,000 SH Put SOLE   225,000 225,000 0
JINKOSOLAR HLDG CO LTD SPONSORED ADR 47759T100 2,942 97,500 SH Put SOLE   97,500 97,500 0
JPMORGAN CHASE & CO COM 46625H100 7,813 135,600 SH   SOLE   135,600 135,600 0
KODIAK OIL & GAS CORP COM 50015Q100 9,715 667,700 SH   SOLE   667,700 667,700 0
KOREA ELECTRIC PWR SPONSORED ADR 500631106 239 13,000 SH   SOLE   13,000 13,000 0
LYONDELLBASELL INDUSTRIES N SHS - A - N53745100 41,365 423,600 SH   SOLE   423,600 423,600 0
MANNKIND CORP Note 56400PAC6 30,826 18,500,000 SH   SOLE   18,500,000 18,500,000 0
MARATHON OIL CORP COM 565849106 53,779 1,347,177 SH   SOLE   1,347,177 1,347,177 0
MARATHON OIL CORP COM 565849106 5,988 150,000 SH Call SOLE   150,000 150,000 0
MARKET VECTORS ETF TR GOLD MINER ETF 57060U100 4,480 169,361 SH   SOLE   169,361 169,361 0
MARKET VECTORS ETF TR GOLD MINER ETF 57060U100 2,505 94,700 SH Call SOLE   94,700 94,700 0
MARKET VECTORS ETF TR GOLD MINER ETF 57060U100 8,324 314,700 SH Call SOLE   314,700 314,700 0
MARKET VECTORS ETF TR AGRIBUS ETF 57060U605 1,006 18,290 SH   SOLE   18,290 18,290 0
MASTERCARD INC CL A 57636Q104 1,043 14,200 SH   SOLE   14,200 14,200 0
MCDERMOTT INTL INC COM 580037109 11,731 1,450,000 SH Put SOLE   1,450,000 1,450,000 0
MOLYCORP INC DEL COM 608753109 2,570 1,000,000 SH Put SOLE   1,000,000 1,000,000 0
MOLYCORP INC DEL COM 608753109 1,658 645,200 SH Put SOLE   645,200 645,200 0
MOLYCORP INC DEL COM 608753109 1,353 526,300 SH Put SOLE   526,300 526,300 0
MOLYCORP INC DEL Note 608753AF6 3,810 6,000,000 SH   SOLE   6,000,000 6,000,000 0
NEWFIELD EXPL CO COM 651290108 11,050 250,000 SH Put SOLE   250,000 250,000 0
NEWFIELD EXPL CO COM 651290108 36,176 818,458 SH   SOLE   818,458 818,458 0
NEXTERA ENERGY INC COM 65339F101 1,558 15,200 SH   SOLE   15,200 15,200 0
NORTHERN OIL & GAS INC NEV COM 665531109 11,821 725,633 SH   SOLE   725,633 725,633 0
NOVO-NORDISK A S ADR 670100205 254 5,500 SH   SOLE   5,500 5,500 0
NQ MOBILE INC ADR REPSTG CL A 64118U108 12,488 2,033,900 SH Put SOLE   2,033,900 2,033,900 0
NRG ENERGY INC COM 629377508 2,246 60,386 SH   SOLE   60,386 60,386 0
OASIS PETE INC NEW COM 674215108 16,493 295,095 SH   SOLE   295,095 295,095 0
OCWEN FINL CORP COM 675746309 985 26,550 SH   SOLE   26,550 26,550 0
OPKO HEALTH INC COM 68375N103 1,768 200,000 SH Put SOLE   200,000 200,000 0
PARSLEY ENERGY INC CL A 701877102 9,382 389,800 SH   SOLE   389,800 389,800 0
PENN VA CORP COM 707882106 15,606 920,719 SH   SOLE   920,719 920,719 0
PENNEY J C INC COM 708160106 3,982 440,000 SH Put SOLE   440,000 440,000 0
PETROCHINA CO LTD SPONSORED ADR 71646E100 540 4,300 SH   SOLE   4,300 4,300 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 585 40,000 SH   SOLE   40,000 40,000 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 72,987 777,200 SH Call SOLE   777,200 777,200 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 8,452 90,000 SH Call SOLE   90,000 90,000 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 19,514 207,800 SH Call SOLE   207,800 207,800 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 106,663 1,135,800 SH Call SOLE   1,135,800 1,135,800 0
POWERSHARES QQQ TRUST UNIT SER 1 73935A104 34,071 362,800 SH Call SOLE   362,800 362,800 0
PPL CORP COM 69351T106 1,439 40,500 SH   SOLE   40,500 40,500 0
PRECISION DRILLING CORP COM 2010 74022D308 11,427 807,000 SH   SOLE   807,000 807,000 0
QEP RES INC COM 74733V100 6,910 200,300 SH   SOLE   200,300 200,300 0
QIHOO 360 TECHNOLOGY CO LTD ADS 74734M109 10,124 110,000 SH Put SOLE   110,000 110,000 0
QUICKSILVER RESOURCES INC COM 74837R104 1,652 618,551 SH   SOLE   618,551 618,551 0
RADIAN GROUP INC Note 750236AN1 26,475 17,600,000 SH   SOLE   17,600,000 17,600,000 0
REX ENERGY CORPORATION COM 761565100 2,487 140,421 SH   SOLE   140,421 140,421 0
RICE ENERGY INC COM 762760106 11,419 375,000 SH   SOLE   375,000 375,000 0
RITE AID CORP Note 767754BU7 26,540 9,372,000 SH   SOLE   9,372,000 9,372,000 0
ROSETTA RESOURCES INC COM 777779307 4,136 75,410 SH   SOLE   75,410 75,410 0
ROWAN COMPANIES PLC SHS CL A G7665A101 2,404 75,300 SH   SOLE   75,300 75,300 0
SCHLUMBERGER LTD COM 806857108 19,179 162,600 SH   SOLE   162,600 162,600 0
SELECT SECTOR SPDR TR SBI INT-ENERGY 81369Y506 1,688 16,860 SH   SOLE   16,860 16,860 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 2,353 103,472 SH   SOLE   103,472 103,472 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 47,570 2,091,900 SH Call SOLE   2,091,900 2,091,900 0
SINA CORP ORD G81477104 17,116 343,900 SH Put SOLE   343,900 343,900 0
SOLARCITY CORP Note 83416TAA8 37,631 27,000,000 SH   SOLE   27,000,000 27,000,000 0
SOLARCITY CORP COM 83416T100 2,047 29,000 SH   SOLE   29,000 29,000 0
SOUFUN HLDGS LTD ADR 836034108 1,395 142,500 SH Put SOLE   142,500 142,500 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 278,725 1,424,100 SH Call SOLE   1,424,100 1,424,100 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 273,519 1,397,500 SH Call SOLE   1,397,500 1,397,500 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 234,864 1,200,000 SH Put SOLE   1,200,000 1,200,000 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 411 2,100 SH   SOLE   2,100 2,100 0
SPDR S&P MIDCAP 400 ETF TR UTSER1 S&PDCRP 78467Y107 10,162 39,000 SH   SOLE   39,000 39,000 0
STONE ENERGY CORP COM 861642106 7,789 166,466 SH   SOLE   166,466 166,466 0
SUNPOWER CORP DBCV 4.500% 3/1 867652AE9 12,887 7,000,000 SH   SOLE   7,000,000 7,000,000 0
TATA MTRS LTD SPONSORED ADR 876568502 242 6,200 SH   SOLE   6,200 6,200 0
TELEFONICA BRASIL SA SPONSORED ADR 87936R106 256 12,500 SH   SOLE   12,500 12,500 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 220 4,200 SH   SOLE   4,200 4,200 0
TRINA SOLAR LIMITED SPON ADR 89628E104 6,891 537,100 SH Put SOLE   537,100 537,100 0
U S SILICA HLDGS INC COM 90346E103 2,689 48,500 SH   SOLE   48,500 48,500 0
ULTRA PETROLEUM CORP COM 903914109 23,133 779,140 SH   SOLE   779,140 779,140 0
UNITED PARCEL SERVICE INC CL B 911312106 579 5,640 SH   SOLE   5,640 5,640 0
VERIZON COMMUNICATIONS INC COM 92343V104 45,228 924,349 SH   SOLE   924,349 924,349 0
VERSO PAPER CORP COM 92531L108 158 75,363 SH   SOLE   75,363 75,363 0
VIPSHOP HLDGS LTD Note 92763WAA1 35,338 30,000,000 SH   SOLE   30,000,000 30,000,000 0
VIPSHOP HLDGS LTD SPONSORED ADR 92763W103 35,389 188,500 SH Put SOLE   188,500 188,500 0
WALTER ENERGY INC COM 93317Q105 6,813 1,250,000 SH Put SOLE   1,250,000 1,250,000 0
WEBMD HEALTH CORP Note 94770VAH5 5,160 5,000,000 SH   SOLE   5,000,000 5,000,000 0
WEIGHT WATCHERS INTL INC NEW COM 948626106 3,026 150,000 SH Put SOLE   150,000 150,000 0
WESTERN REFNG INC COM 959319104 3,567 95,000 SH   SOLE   95,000 95,000 0
YAHOO INC COM 984332106 36,631 1,042,719 SH   SOLE   1,042,719 1,042,719 0
YAHOO INC COM 984332106 9,496 270,300 SH Call SOLE   270,300 270,300 0
YAHOO INC COM 984332106 1,757 50,000 SH Call SOLE   50,000 50,000 0
YAHOO INC COM 984332106 3,899 111,000 SH Call SOLE   111,000 111,000 0
YANDEX N V SHS CLASS A N97284108 285 8,000 SH   SOLE   8,000 8,000 0
YY INC ADS REPCOM CLA 98426T106 22,854 302,700 SH Put SOLE   302,700 302,700 0