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
ANNALY CAP MGMT INC COM 035710409 25,151 20,009 SH Call SOLE NONE 20,009 0 0
CENVEO INC COM 15670S105 434 203,600 SH   SOLE NONE 203,600 0 0
COMVERSE INC COM 20585P105 8,899 300,000 SH   SOLE NONE 300,000 0 0
CONSOL ENERGY INC COM 20854P109 3,252 120,000 SH   SOLE NONE 120,000 0 0
CONSTELLATION BRANDS INC CL A 21036P108 10,424 200,000 SH   SOLE NONE 200,000 0 0
CUMULUS MEDIA INC CL A 231082108 3,088 910,800 SH   SOLE NONE 910,800 0 0
DELL INC COM 24702R101 13,325 10,000 SH Call SOLE NONE 10,000 0 0
DIGITAL GENERATION INC COM 25400B108 2,580 350,000 SH   SOLE NONE 350,000 0 0
ELAN PLC ADR 284131208 21,210 1,500,000 SH   SOLE NONE 1,500,000 0 0
ETFS PLATINUM TR SH BEN INT 26922V101 19,662 150,000 SH   SOLE NONE 150,000 0 0
FASTENAL CO COM 311900104 9,158 2,000 SH Put SOLE NONE 2,000 0 0
GENERAL MTRS CO COM 37045V100 22,484 675,000 SH   SOLE NONE 675,000 0 0
GENERAL MTRS CO *W EXP 07/10/201 37045V126 12,263 750,000 SH Call SOLE NONE 750,000 0 0
GRAINGER W W INC COM 384802104 25,218 1,000 SH Put SOLE NONE 1,000 0 0
GRAPHIC PACKAGING HLDG CO COM 388689101 20,898 2,700,000 SH   SOLE NONE 2,700,000 0 0
HERTZ GLOBAL HOLDINGS INC COM 42805T105 45,880 1,850,000 SH   SOLE NONE 1,850,000 0 0
INTERNATIONAL BUSINESS MACHS COM 459200101 20,067 1,050 SH Put SOLE NONE 1,050 0 0
ISHARES TR RUSSELL 2000 464287655 97,000 10,000 SH Put SOLE NONE 10,000 0 0
ISHARES TR FTSE CHINA25 IDX 464287184 32,520 10,000 SH Put SOLE NONE 10,000 0 0
ISHARES TR MSCI EMERG MKT 464287234 38,500 10,000 SH Put SOLE NONE 10,000 0 0
JPMORGAN CHASE & CO COM 46625H100 21,116 4,000 SH Put SOLE NONE 4,000 0 0
LSB INDS INC COM 502160104 10,282 338,100 SH   SOLE NONE 338,100 0 0
MARKET VECTORS ETF TR GOLD MINER ETF 57060U100 24,490 10,000 SH Call SOLE NONE 10,000 0 0
MBIA INC COM 55262C100 45,920 3,450,000 SH   SOLE NONE 3,450,000 0 0
MBIA INC COM 55262C100 13,310 10,000 SH Call SOLE NONE 10,000 0 0
MBIA INC COM 55262C100 13,310 10,000 SH Call SOLE NONE 10,000 0 0
MSC INDL DIRECT INC CL A 553530106 7,746 1,000 SH Put SOLE NONE 1,000 0 0
NATIONSTAR MTG HLDGS INC COM 63861C109 3,370 90,000 SH   SOLE NONE 90,000 0 0
OCEAN RIG UDW INC SHS Y64354205 2,248 120,000 SH   SOLE NONE 120,000 0 0
PETROBRAS ARGENTINA S A SPONS ADR 71646J109 1,802 497,900 SH   SOLE NONE 497,900 0 0
REDWOOD TR INC COM 758075402 14,875 875,000 SH   SOLE NONE 875,000 0 0
REDWOOD TR INC COM 758075402 8,500 5,000 SH Call SOLE NONE 5,000 0 0
RITE AID CORP COM 767754104 72,930 25,500,000 SH   SOLE NONE 25,500,000 0 0
SAP AG SPON ADR 803054204 18,208 2,500 SH Put SOLE NONE 2,500 0 0
SIBANYE GOLD LTD SPONSORED ADR 825724206 6,468 2,200,000 SH   SOLE NONE 2,200,000 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 35,733 300,000 SH   SOLE NONE 300,000 0 0
SUNCOKE ENERGY PARTNERS L P COMUNIT REP LT 86722Y101 18,400 832,600 SH   SOLE NONE 832,600 0 0
TALISMAN ENERGY INC COM 87425E103 11,430 1,000,000 SH   SOLE NONE 1,000,000 0 0
VANTAGE DRILLING COMPANY ORD SHS G93205113 2,040 1,000,000 SH   SOLE NONE 1,000,000 0 0
VISTEON CORP COM NEW 92839U206 18,936 300,000 SH   SOLE NONE 300,000 0 0
VISTEON CORP COM NEW 92839U206 31,560 5,000 SH Call SOLE NONE 5,000 0 0
WALTER ENERGY INC COM 93317Q105 2,080 200,000 SH   SOLE NONE 200,000 0 0
WALTER ENERGY INC COM 93317Q105 5,200 5,000 SH Call SOLE NONE 5,000 0 0
ZYNGA INC CL A 98986T108 22,760 8,187,000 SH   SOLE NONE 8,187,000 0 0