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		</otherManager><votingAuthority><Sole>75000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ABBOTT LABS</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>002824100</cusip><value>4896</value><shrsOrPrnAmt><sshPrnamt>115782</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>115782</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ACADIA HEALTHCARE COMPANY IN</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>00404A109</cusip><value>842</value><shrsOrPrnAmt><sshPrnamt>17000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>17000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ACCENTURE PLC IRELAND</nameOfIssuer><titleOfClass>SHS CLASS A</titleOfClass><cusip>G1151C101</cusip><value>30543</value><shrsOrPrnAmt><sshPrnamt>250000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Put</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>250000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ADAMAS PHARMACEUTICALS INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>00548A106</cusip><value>1967</value><shrsOrPrnAmt><sshPrnamt>119867</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>119867</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ADTRAN INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>00738A106</cusip><value>6316</value><shrsOrPrnAmt><sshPrnamt>330000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>330000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ADTRAN INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>00738A106</cusip><value>3828</value><shrsOrPrnAmt><sshPrnamt>200000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Call</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>200000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>AGCO CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>001084102</cusip><value>7768</value><shrsOrPrnAmt><sshPrnamt>157500</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Call</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>157500</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>AGCO CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>001084102</cusip><value>109</value><shrsOrPrnAmt><sshPrnamt>2200</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>2200</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>AGILE THERAPEUTICS INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>00847L100</cusip><value>1291</value><shrsOrPrnAmt><sshPrnamt>184977</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>184977</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ALASKA AIR GROUP INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>011659109</cusip><value>342</value><shrsOrPrnAmt><sshPrnamt>5200</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>5200</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ALCOA INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>013817101</cusip><value>697</value><shrsOrPrnAmt><sshPrnamt>68750</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>68750</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ALCOA INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>013817101</cusip><value>1268</value><shrsOrPrnAmt><sshPrnamt>125000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Put</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>125000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ALIBABA GROUP HLDG LTD</nameOfIssuer><titleOfClass>SPONSORED ADS</titleOfClass><cusip>01609W102</cusip><value>5290</value><shrsOrPrnAmt><sshPrnamt>50000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Put</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>50000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ALIMERA SCIENCES INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>016259103</cusip><value>996</value><shrsOrPrnAmt><sshPrnamt>668360</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>668360</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ALLIQUA BIOMEDICAL INC</nameOfIssuer><titleOfClass>COM NEW</titleOfClass><cusip>019621200</cusip><value>432</value><shrsOrPrnAmt><sshPrnamt>540000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>540000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ALPHABET INC</nameOfIssuer><titleOfClass>CAP STK CL A</titleOfClass><cusip>02079K305</cusip><value>8804</value><shrsOrPrnAmt><sshPrnamt>10950</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>10950</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>AMARIN CORP PLC</nameOfIssuer><titleOfClass>SPONS ADR NEW</titleOfClass><cusip>023111206</cusip><value>944</value><shrsOrPrnAmt><sshPrnamt>296000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>296000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>AMARIN CORP PLC</nameOfIssuer><titleOfClass>SPONS ADR NEW</titleOfClass><cusip>023111206</cusip><value>1661</value><shrsOrPrnAmt><sshPrnamt>520700</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Call</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>520700</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>AMAZON COM INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>023135106</cusip><value>2311</value><shrsOrPrnAmt><sshPrnamt>2760</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>2760</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>AMBARELLA INC</nameOfIssuer><titleOfClass>SHS</titleOfClass><cusip>G037AX101</cusip><value>736</value><shrsOrPrnAmt><sshPrnamt>10000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Put</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>10000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>AMERICAN AIRLS GROUP INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>02376R102</cusip><value>9079</value><shrsOrPrnAmt><sshPrnamt>248000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Call</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>248000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>AMERICAN EAGLE OUTFITTERS NE</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>02553E106</cusip><value>1116</value><shrsOrPrnAmt><sshPrnamt>62500</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>62500</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>AMICUS THERAPEUTICS INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>03152W109</cusip><value>657</value><shrsOrPrnAmt><sshPrnamt>88800</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>88800</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ANADARKO PETE CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>032511107</cusip><value>1140</value><shrsOrPrnAmt><sshPrnamt>18000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>18000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ANGIES LIST INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>034754101</cusip><value>3467</value><shrsOrPrnAmt><sshPrnamt>350000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Put</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>350000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ANTARES PHARMA INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>036642106</cusip><value>437</value><shrsOrPrnAmt><sshPrnamt>260000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>260000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ASCENA RETAIL GROUP INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>04351G101</cusip><value>2175</value><shrsOrPrnAmt><sshPrnamt>389127</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>389127</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ASCENA RETAIL GROUP INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>04351G101</cusip><value>4402</value><shrsOrPrnAmt><sshPrnamt>787500</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Call</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>787500</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ASSOCIATED CAP GROUP INC</nameOfIssuer><titleOfClass>CL A</titleOfClass><cusip>045528106</cusip><value>1493</value><shrsOrPrnAmt><sshPrnamt>42114</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>42114</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ATLASSIAN CORP PLC</nameOfIssuer><titleOfClass>CL A</titleOfClass><cusip>G06242104</cusip><value>1499</value><shrsOrPrnAmt><sshPrnamt>50000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Call</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>50000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>AUTOHOME INC</nameOfIssuer><titleOfClass>SP ADR RP CL A</titleOfClass><cusip>05278C107</cusip><value>1831</value><shrsOrPrnAmt><sshPrnamt>75500</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>75500</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>AVEXIS INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>05366U100</cusip><value>1368</value><shrsOrPrnAmt><sshPrnamt>33200</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>33200</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>AXALTA COATING SYS LTD</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>G0750C108</cusip><value>34</value><shrsOrPrnAmt><sshPrnamt>1200</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>1200</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>AXALTA COATING SYS LTD</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>G0750C108</cusip><value>2120</value><shrsOrPrnAmt><sshPrnamt>75000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Call</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>75000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>AXOVANT SCIENCES LTD</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>G0750W104</cusip><value>1988</value><shrsOrPrnAmt><sshPrnamt>142000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>142000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>BANKRATE INC DEL</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>06647F102</cusip><value>170</value><shrsOrPrnAmt><sshPrnamt>20000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>20000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>BAZAARVOICE INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>073271108</cusip><value>1684</value><shrsOrPrnAmt><sshPrnamt>285000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>285000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>BERRY PLASTICS GROUP INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>08579W103</cusip><value>1535</value><shrsOrPrnAmt><sshPrnamt>35000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Call</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>35000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>BIOMARIN PHARMACEUTICAL INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>09061G101</cusip><value>3840</value><shrsOrPrnAmt><sshPrnamt>41500</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>41500</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>BLUE BUFFALO PET PRODS INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>09531U102</cusip><value>12726</value><shrsOrPrnAmt><sshPrnamt>535598</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>535598</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>BLUE NILE INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>09578R103</cusip><value>4303</value><shrsOrPrnAmt><sshPrnamt>125000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>125000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>BMC STK HLDGS INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>05591B109</cusip><value>5093</value><shrsOrPrnAmt><sshPrnamt>287274</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>287274</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>BOINGO WIRELESS INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>09739C102</cusip><value>5715</value><shrsOrPrnAmt><sshPrnamt>555944</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>555944</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>BOSTON SCIENTIFIC CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>101137107</cusip><value>447</value><shrsOrPrnAmt><sshPrnamt>18800</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>18800</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>CANADIAN PAC RY LTD</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>13645T100</cusip><value>16339</value><shrsOrPrnAmt><sshPrnamt>107000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>107000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>CARDCONNECT CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>14141X108</cusip><value>0</value><shrsOrPrnAmt><sshPrnamt>200000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Call</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>200000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>CATERPILLAR INC DEL</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>149123101</cusip><value>4545</value><shrsOrPrnAmt><sshPrnamt>51200</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Put</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>51200</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>CBS CORP NEW</nameOfIssuer><titleOfClass>CL B</titleOfClass><cusip>124857202</cusip><value>6569</value><shrsOrPrnAmt><sshPrnamt>120000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Call</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>120000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>CBS CORP NEW</nameOfIssuer><titleOfClass>CL B</titleOfClass><cusip>124857202</cusip><value>6843</value><shrsOrPrnAmt><sshPrnamt>125000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Put</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>125000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>CELANESE CORP DEL</nameOfIssuer><titleOfClass>COM SER A</titleOfClass><cusip>150870103</cusip><value>2649</value><shrsOrPrnAmt><sshPrnamt>39800</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
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		</otherManager><votingAuthority><Sole>223500</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>GROUPON INC</nameOfIssuer><titleOfClass>COM CL A</titleOfClass><cusip>399473107</cusip><value>1702</value><shrsOrPrnAmt><sshPrnamt>330400</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>330400</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>GROUPON INC</nameOfIssuer><titleOfClass>COM CL A</titleOfClass><cusip>399473107</cusip><value>1803</value><shrsOrPrnAmt><sshPrnamt>350000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Call</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>350000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>GRUBHUB INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>400110102</cusip><value>26</value><shrsOrPrnAmt><sshPrnamt>600</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>600</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>GRUBHUB INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>400110102</cusip><value>537</value><shrsOrPrnAmt><sshPrnamt>12500</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Call</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>12500</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>HALOZYME THERAPEUTICS INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>40637H109</cusip><value>3417</value><shrsOrPrnAmt><sshPrnamt>282900</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>282900</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>HENNESSY CAP ACQUISITION COR</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>42588J100</cusip><value>5613</value><shrsOrPrnAmt><sshPrnamt>572723</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>572723</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>HERTZ GLOBAL HLDGS INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>42806J106</cusip><value>5120</value><shrsOrPrnAmt><sshPrnamt>127500</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Call</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>127500</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>HERTZ GLOBAL HLDGS INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>42806J106</cusip><value>3177</value><shrsOrPrnAmt><sshPrnamt>79100</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>79100</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>HESS CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>42809H107</cusip><value>767</value><shrsOrPrnAmt><sshPrnamt>14300</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>14300</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>HIBBETT SPORTS INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>428567101</cusip><value>3577</value><shrsOrPrnAmt><sshPrnamt>89650</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>89650</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>HI-CRUSH PARTNERS LP</nameOfIssuer><titleOfClass>COM UNIT LTD</titleOfClass><cusip>428337109</cusip><value>7823</value><shrsOrPrnAmt><sshPrnamt>510000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Call</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>510000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>HILTON WORLDWIDE HLDGS INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>43300A104</cusip><value>4586</value><shrsOrPrnAmt><sshPrnamt>200000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Put</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>200000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>HORIZON PHARMA PLC</nameOfIssuer><titleOfClass>SHS</titleOfClass><cusip>G4617B105</cusip><value>3737</value><shrsOrPrnAmt><sshPrnamt>206100</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>206100</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>HORIZON PHARMA PLC</nameOfIssuer><titleOfClass>SHS</titleOfClass><cusip>G4617B105</cusip><value>5185</value><shrsOrPrnAmt><sshPrnamt>286000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Call</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>286000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>HORIZON PHARMA PLC</nameOfIssuer><titleOfClass>SHS</titleOfClass><cusip>G4617B105</cusip><value>4007</value><shrsOrPrnAmt><sshPrnamt>221000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Put</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>221000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>HORTONWORKS INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>440894103</cusip><value>125</value><shrsOrPrnAmt><sshPrnamt>15000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>15000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>HUB GROUP INC</nameOfIssuer><titleOfClass>CL A</titleOfClass><cusip>443320106</cusip><value>20013</value><shrsOrPrnAmt><sshPrnamt>491000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>491000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>HUNTSMAN CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>447011107</cusip><value>1627</value><shrsOrPrnAmt><sshPrnamt>100000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Call</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>100000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>HUNTSMAN CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>447011107</cusip><value>1627</value><shrsOrPrnAmt><sshPrnamt>100000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Put</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>100000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>IAC INTERACTIVECORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>44919P508</cusip><value>4523</value><shrsOrPrnAmt><sshPrnamt>72400</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>72400</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>IMMUNOMEDICS INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>452907108</cusip><value>5514</value><shrsOrPrnAmt><sshPrnamt>1696699</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>1696699</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>INFOBLOX INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>45672H104</cusip><value>796</value><shrsOrPrnAmt><sshPrnamt>30200</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>30200</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>INTERNATIONAL BUSINESS MACHS</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>459200101</cusip><value>12708</value><shrsOrPrnAmt><sshPrnamt>80000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Put</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>80000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>INTL PAPER CO</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>460146103</cusip><value>10935</value><shrsOrPrnAmt><sshPrnamt>227900</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>227900</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>INTL PAPER CO</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>460146103</cusip><value>10795</value><shrsOrPrnAmt><sshPrnamt>225000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Call</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>225000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>INTRA CELLULAR THERAPIES INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>46116X101</cusip><value>381</value><shrsOrPrnAmt><sshPrnamt>25000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Put</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>25000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>INTRA CELLULAR THERAPIES INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>46116X101</cusip><value>381</value><shrsOrPrnAmt><sshPrnamt>25000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>25000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>INTUITIVE SURGICAL INC</nameOfIssuer><titleOfClass>COM NEW</titleOfClass><cusip>46120E602</cusip><value>652</value><shrsOrPrnAmt><sshPrnamt>900</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>900</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ISHARES TR</nameOfIssuer><titleOfClass>20 YR TR BD ETF</titleOfClass><cusip>464287432</cusip><value>10313</value><shrsOrPrnAmt><sshPrnamt>75000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Put</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>75000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ISHARES TR</nameOfIssuer><titleOfClass>CORE S&amp;P500 ETF</titleOfClass><cusip>464287200</cusip><value>870</value><shrsOrPrnAmt><sshPrnamt>4000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>4000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ISHARES TR</nameOfIssuer><titleOfClass>IBOXX HI YD ETF</titleOfClass><cusip>464288513</cusip><value>5785</value><shrsOrPrnAmt><sshPrnamt>66300</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
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		</otherManager><votingAuthority><Sole>9993</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ISHARES TR</nameOfIssuer><titleOfClass>RUSSELL 2000 ETF</titleOfClass><cusip>464287655</cusip><value>128806</value><shrsOrPrnAmt><sshPrnamt>1037000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Put</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>1037000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ISHARES TR</nameOfIssuer><titleOfClass>U.S. REAL ES ETF</titleOfClass><cusip>464287739</cusip><value>11962</value><shrsOrPrnAmt><sshPrnamt>148342</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
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		</otherManager><votingAuthority><Sole>62500</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>JACK IN THE BOX INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>466367109</cusip><value>7031</value><shrsOrPrnAmt><sshPrnamt>73285</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>73285</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>JACK IN THE BOX INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>466367109</cusip><value>1727</value><shrsOrPrnAmt><sshPrnamt>18000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Call</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>18000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>JAZZ PHARMACEUTICALS PLC</nameOfIssuer><titleOfClass>SHS USD</titleOfClass><cusip>G50871105</cusip><value>8722</value><shrsOrPrnAmt><sshPrnamt>71800</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>71800</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>JETBLUE AIRWAYS CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>477143101</cusip><value>12637</value><shrsOrPrnAmt><sshPrnamt>733000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>733000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>KANSAS CITY SOUTHERN</nameOfIssuer><titleOfClass>COM NEW</titleOfClass><cusip>485170302</cusip><value>7886</value><shrsOrPrnAmt><sshPrnamt>84500</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>84500</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>KAPSTONE PAPER &amp; PACKAGING C</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>48562P103</cusip><value>3296</value><shrsOrPrnAmt><sshPrnamt>174200</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>174200</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>KAPSTONE PAPER &amp; PACKAGING C</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>48562P103</cusip><value>4596</value><shrsOrPrnAmt><sshPrnamt>242900</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Call</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>242900</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>KAR AUCTION SVCS INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>48238T109</cusip><value>2978</value><shrsOrPrnAmt><sshPrnamt>69000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>69000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>KENNAMETAL INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>489170100</cusip><value>2352</value><shrsOrPrnAmt><sshPrnamt>81050</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>81050</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>KENNAMETAL INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>489170100</cusip><value>7255</value><shrsOrPrnAmt><sshPrnamt>250000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Call</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>250000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>KIRBY CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>497266106</cusip><value>6263</value><shrsOrPrnAmt><sshPrnamt>100750</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>100750</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>LANDCADIA HLDGS INC</nameOfIssuer><titleOfClass>UNIT 12/31/2021T</titleOfClass><cusip>51476W206</cusip><value>5125</value><shrsOrPrnAmt><sshPrnamt>500001</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>500001</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>LANDSTAR SYS INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>515098101</cusip><value>3666</value><shrsOrPrnAmt><sshPrnamt>53851</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>53851</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>LAS VEGAS SANDS CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>517834107</cusip><value>1588</value><shrsOrPrnAmt><sshPrnamt>27600</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
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		</otherManager><votingAuthority><Sole>37994</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>POLARIS INDS INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>731068102</cusip><value>26748</value><shrsOrPrnAmt><sshPrnamt>345400</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Put</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>345400</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>POTASH CORP SASK INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>73755L107</cusip><value>1507</value><shrsOrPrnAmt><sshPrnamt>92350</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>92350</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>POTASH CORP SASK INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>73755L107</cusip><value>24772</value><shrsOrPrnAmt><sshPrnamt>1517900</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Call</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>1517900</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>POWERSHARES QQQ TRUST</nameOfIssuer><titleOfClass>UNIT SER 1</titleOfClass><cusip>73935A104</cusip><value>2374</value><shrsOrPrnAmt><sshPrnamt>20000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>20000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>POWERSHARES QQQ TRUST</nameOfIssuer><titleOfClass>UNIT SER 1</titleOfClass><cusip>73935A104</cusip><value>27602</value><shrsOrPrnAmt><sshPrnamt>232500</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Put</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>232500</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>PUMA BIOTECHNOLOGY INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>74587V107</cusip><value>3319</value><shrsOrPrnAmt><sshPrnamt>49500</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>49500</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>PVH CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>693656100</cusip><value>8287</value><shrsOrPrnAmt><sshPrnamt>74995</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>74995</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>QIWI PLC</nameOfIssuer><titleOfClass>SPON ADR REP B</titleOfClass><cusip>74735M108</cusip><value>2050</value><shrsOrPrnAmt><sshPrnamt>140000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>140000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>RADIUS HEALTH INC</nameOfIssuer><titleOfClass>COM NEW</titleOfClass><cusip>750469207</cusip><value>746</value><shrsOrPrnAmt><sshPrnamt>13800</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>13800</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>RANGE RES CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>75281A109</cusip><value>2761</value><shrsOrPrnAmt><sshPrnamt>71250</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>71250</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>RANGE RES CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>75281A109</cusip><value>9494</value><shrsOrPrnAmt><sshPrnamt>245000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Call</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>245000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>RED ROCK RESORTS INC</nameOfIssuer><titleOfClass>CL A</titleOfClass><cusip>75700L108</cusip><value>5449</value><shrsOrPrnAmt><sshPrnamt>230996</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>230996</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>RETROPHIN INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>761299106</cusip><value>1285</value><shrsOrPrnAmt><sshPrnamt>57400</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>57400</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>RIGEL PHARMACEUTICALS INC</nameOfIssuer><titleOfClass>COM NEW</titleOfClass><cusip>766559603</cusip><value>1325</value><shrsOrPrnAmt><sshPrnamt>361029</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>361029</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>RIGEL PHARMACEUTICALS INC</nameOfIssuer><titleOfClass>COM NEW</titleOfClass><cusip>766559603</cusip><value>1434</value><shrsOrPrnAmt><sshPrnamt>390600</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Call</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>390600</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>RITE AID CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>767754104</cusip><value>1582</value><shrsOrPrnAmt><sshPrnamt>205719</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>205719</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>RITE AID CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>767754104</cusip><value>3767</value><shrsOrPrnAmt><sshPrnamt>489800</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Put</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>489800</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>RMR GROUP INC</nameOfIssuer><titleOfClass>CL A</titleOfClass><cusip>74967R106</cusip><value>5468</value><shrsOrPrnAmt><sshPrnamt>144125</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>144125</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ROYAL CARIBBEAN CRUISES LTD</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>V7780T103</cusip><value>9657</value><shrsOrPrnAmt><sshPrnamt>128850</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>128850</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>ROYAL CARIBBEAN CRUISES LTD</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>V7780T103</cusip><value>2249</value><shrsOrPrnAmt><sshPrnamt>30000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Call</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>30000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>RYDER SYS INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>783549108</cusip><value>4946</value><shrsOrPrnAmt><sshPrnamt>75000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Put</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>75000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SABAN CAP ACQUISITION CORP</nameOfIssuer><titleOfClass>UNIT 99/99/9999</titleOfClass><cusip>78516C205</cusip><value>3528</value><shrsOrPrnAmt><sshPrnamt>350000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>350000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SAGE THERAPEUTICS INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>78667J108</cusip><value>2330</value><shrsOrPrnAmt><sshPrnamt>50600</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>50600</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SALESFORCE COM INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>79466L302</cusip><value>19844</value><shrsOrPrnAmt><sshPrnamt>278200</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>278200</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SALESFORCE COM INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>79466L302</cusip><value>8203</value><shrsOrPrnAmt><sshPrnamt>115000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Call</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>115000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SALESFORCE COM INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>79466L302</cusip><value>32455</value><shrsOrPrnAmt><sshPrnamt>455000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Put</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>455000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SAREPTA THERAPEUTICS INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>803607100</cusip><value>269</value><shrsOrPrnAmt><sshPrnamt>4375</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>4375</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SEALED AIR CORP NEW</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>81211K100</cusip><value>32</value><shrsOrPrnAmt><sshPrnamt>700</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>700</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SEALED AIR CORP NEW</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>81211K100</cusip><value>1604</value><shrsOrPrnAmt><sshPrnamt>35000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Call</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>35000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer><titleOfClass>SBI HEALTHCARE</titleOfClass><cusip>81369Y209</cusip><value>10817</value><shrsOrPrnAmt><sshPrnamt>150000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Put</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>150000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer><titleOfClass>SBI INT-INDS</titleOfClass><cusip>81369Y704</cusip><value>76</value><shrsOrPrnAmt><sshPrnamt>1300</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>1300</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer><titleOfClass>SBI INT-INDS</titleOfClass><cusip>81369Y704</cusip><value>9119</value><shrsOrPrnAmt><sshPrnamt>156200</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Call</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>156200</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer><titleOfClass>SBI INT-UTILS</titleOfClass><cusip>81369Y886</cusip><value>4179</value><shrsOrPrnAmt><sshPrnamt>85300</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>85300</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer><titleOfClass>SBI INT-UTILS</titleOfClass><cusip>81369Y886</cusip><value>6114</value><shrsOrPrnAmt><sshPrnamt>124800</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Put</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>124800</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SHORETEL INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>825211105</cusip><value>5355</value><shrsOrPrnAmt><sshPrnamt>669357</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>669357</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SINA CORP</nameOfIssuer><titleOfClass>ORD</titleOfClass><cusip>G81477104</cusip><value>9842</value><shrsOrPrnAmt><sshPrnamt>133300</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>133300</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SOHU COM INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>83408W103</cusip><value>12917</value><shrsOrPrnAmt><sshPrnamt>291900</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>291900</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SOHU COM INC</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>83408W103</cusip><value>1128</value><shrsOrPrnAmt><sshPrnamt>25500</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Call</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>25500</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SOLARCITY CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>83416T100</cusip><value>489</value><shrsOrPrnAmt><sshPrnamt>25000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>25000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SOLARCITY CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>83416T100</cusip><value>1467</value><shrsOrPrnAmt><sshPrnamt>75000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Put</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>75000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SPDR S&amp;P 500 ETF TR</nameOfIssuer><titleOfClass>TR UNIT</titleOfClass><cusip>78462F103</cusip><value>2350</value><shrsOrPrnAmt><sshPrnamt>10866</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>10866</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SPDR S&amp;P 500 ETF TR</nameOfIssuer><titleOfClass>TR UNIT</titleOfClass><cusip>78462F103</cusip><value>7571</value><shrsOrPrnAmt><sshPrnamt>35000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Call</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>35000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SPDR S&amp;P 500 ETF TR</nameOfIssuer><titleOfClass>TR UNIT</titleOfClass><cusip>78462F103</cusip><value>86520</value><shrsOrPrnAmt><sshPrnamt>400000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Put</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>400000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SPDR SERIES TRUST</nameOfIssuer><titleOfClass>S&amp;P BIOTECH</titleOfClass><cusip>78464A870</cusip><value>16904</value><shrsOrPrnAmt><sshPrnamt>255000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Put</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>255000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SPDR SERIES TRUST</nameOfIssuer><titleOfClass>S&amp;P RETAIL ETF</titleOfClass><cusip>78464A714</cusip><value>3266</value><shrsOrPrnAmt><sshPrnamt>75000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Put</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>75000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SQUARE INC</nameOfIssuer><titleOfClass>CL A</titleOfClass><cusip>852234103</cusip><value>1938</value><shrsOrPrnAmt><sshPrnamt>166200</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>166200</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>STARBUCKS CORP</nameOfIssuer><titleOfClass>COM</titleOfClass><cusip>855244109</cusip><value>2707</value><shrsOrPrnAmt><sshPrnamt>50000</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><putCall>Put</putCall><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
		</otherManager><votingAuthority><Sole>50000</Sole><Shared>0</Shared><None>0</None></votingAuthority></infoTable><infoTable><nameOfIssuer>SWIFT TRANSN CO</nameOfIssuer><titleOfClass>CL A</titleOfClass><cusip>87074U101</cusip><value>9488</value><shrsOrPrnAmt><sshPrnamt>441910</sshPrnamt><sshPrnamtType>SH</sshPrnamtType></shrsOrPrnAmt><investmentDiscretion>SOLE</investmentDiscretion><otherManager>
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