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
1ST UNITED BANCORP INC FLA COM 33740N105 4,280 496,490 SH   DFND 0 496,490 0
ADVANCED MICRO DEVICES INC COM 007903107 733 175,000 SH   DFND 0 175,000 0
ADVANCED MICRO DEVICES INC COM 007903107 77 174,200 SH Put DFND 0 174,200 0
AGNICO EAGLE MINES LTD COM 008474108 456 11,900 SH   DFND 0 11,900 0
ALLERGAN INC COM 018490102 43,793 258,793 SH   DFND 0 258,793 0
ALLERGAN INC COM 018490102 334 257,100 SH Put DFND 0 257,100 0
ALLY FINL INC COM 02005N100 8,037 336,127 SH   DFND 0 336,127 0
AMER RLTY CAP HEALTHCAR TR I COM 02917R108 2,468 226,615 SH   DFND 0 226,615 0
AMERICAN AIRLS GROUP INC COM 02376R102 847 19,707 SH   DFND 0 19,707 0
AMERICAN APPAREL INC COM 023850100 90 100,000 SH   DFND 0 100,000 0
AMERICAN CAPITAL AGENCY CORP COM 02503X105 1 10,400 SH Put DFND 0 10,400 0
ANADARKO PETE CORP COM 032511107 3,122 28,517 SH   DFND 0 28,517 0
ANADARKO PETE CORP COM 032511107 30 24,300 SH Call DFND 0 24,300 0
ANNALY CAP MGMT INC COM 035710409 3 26,000 SH Put DFND 0 26,000 0
ASPEN INSURANCE HOLDINGS LTD SHS G05384105 3,805 83,776 SH   DFND 0 83,776 0
ASTORIA FINL CORP COM 046265104 1,236 91,896 SH   DFND 0 91,896 0
ASTRAZENECA PLC SPONSORED ADR 046353108 46,942 631,700 SH   DFND 0 631,700 0
ASTRAZENECA PLC SPONSORED ADR 046353108 2,496 1,047,800 SH Put DFND 0 1,047,800 0
AUTONAVI HLDGS LTD SPONSORED ADR 05330F106 1,291 61,768 SH   DFND 0 61,768 0
B/E AEROSPACE INC COM 073302101 5,383 58,200 SH   DFND 0 58,200 0
BARRICK GOLD CORP COM 067901108 2,603 142,223 SH   DFND 0 142,223 0
BGC PARTNERS INC CL A 05541T101 7,457 1,002,252 SH   DFND 0 1,002,252 0
BIODELIVERY SCIENCES INTL IN COM 09060J106 594 49,200 SH   DFND 0 49,200 0
BIODELIVERY SCIENCES INTL IN COM 09060J106 13 49,200 SH Put DFND 0 49,200 0
BLACKBERRY LTD COM 09228F103 504 49,189 SH   DFND 0 49,189 0
BLOCK H & R INC COM 093671105 4,220 125,908 SH   DFND 0 125,908 0
BRINKS CO COM 109696104 2,762 97,880 SH   DFND 0 97,880 0
BROADCOM CORP CL A 111320107 2,921 78,683 SH   DFND 0 78,683 0
BRUKER CORP COM 116794108 3,439 141,689 SH   DFND 0 141,689 0
BRUKER CORP COM 116794108 2 41,300 SH Put DFND 0 41,300 0
CASCADE BANCORP COM NEW 147154207 1,015 194,849 SH   DFND 0 194,849 0
CBS CORP NEW CL B 124857202 30,262 487,000 SH   DFND 0 487,000 0
CBS CORP NEW CL B 124857202 8,815 487,000 SH Put DFND 0 487,000 0
CHARM COMMUNICATIONS INC ADR SHS CL A 16112R101 450 100,000 SH   DFND 0 100,000 0
CHINA HYDROELECTRIC CORP SPONSORED ADR 16949D101 1,463 425,538 SH   DFND 0 425,538 0
CHINDEX INTERNATIONAL INC COM 169467107 1,343 56,696 SH   DFND 0 56,696 0
COMPUWARE CORP COM 205638109 5,041 504,650 SH   DFND 0 504,650 0
CONAGRA FOODS INC COM 205887102 7,357 247,863 SH   DFND 0 247,863 0
CONMED CORP COM 207410101 19,581 443,507 SH   DFND 0 443,507 0
CONNECTONE BANCORP INC COM 20786U101 328 6,580 SH   DFND 0 6,580 0
DEAN FOODS CO NEW COM NEW 242370203 3 25,200 SH Put DFND 0 25,200 0
DIGITAL CINEMA DESTINATIONS CL A COM 25383B109 145 24,194 SH   DFND 0 24,194 0
DIRECTV COM 25490A309 8,529 100,331 SH   DFND 0 100,331 0
DISH NETWORK CORP CL A 25470M109 131 88,500 SH Call DFND 0 88,500 0
DISH NETWORK CORP CL A 25470M109 5 29,300 SH Put DFND 0 29,300 0
DISH NETWORK CORP CL A 25470M109 9,207 141,466 SH   DFND 0 141,466 0
DONNELLEY R R & SONS CO COM 257867101 2,763 162,892 SH   DFND 0 162,892 0
FOREST LABS INC COM 345838106 23,949 241,906 SH   DFND 0 241,906 0
FOREST LABS INC COM 345838106 26 75,400 SH Put DFND 0 75,400 0
FOSTER WHEELER AG COM H27178104 5,977 175,438 SH   DFND 0 175,438 0
FUSION-IO INC COM 36112J107 3,853 340,987 SH   DFND 0 340,987 0
GIANT INTERACTIVE GROUP INC ADR 374511103 2,368 200,000 SH   DFND 0 200,000 0
GLOBALSTAR INC COM 378973408 1,601 376,630 SH   DFND 0 376,630 0
HARVEST NATURAL RESOURCES IN COM 41754V103 495 99,206 SH   DFND 0 99,206 0
HASTINGS ENTMT INC COM 418365102 211 71,548 SH   DFND 0 71,548 0
HILLSHIRE BRANDS CO COM 432589109 9,984 160,252 SH   DFND 0 160,252 0
HILLSHIRE BRANDS CO COM 432589109 1 25,000 SH Put DFND 0 25,000 0
HITTITE MICROWAVE CORP COM 43365Y104 7,620 97,750 SH   DFND 0 97,750 0
HUDSON CITY BANCORP COM 443683107 4,981 506,728 SH   DFND 0 506,728 0
IDENIX PHARMACEUTICALS INC COM 45166R204 558 23,172 SH   DFND 0 23,172 0
INTERNATIONAL BUSINESS MACHS COM 459200101 20 16,500 SH Put DFND 0 16,500 0
INTERNATIONAL GAME TECHNOLOG COM 459902102 3,182 200,000 SH   DFND 0 200,000 0
INTERNATIONAL GAME TECHNOLOG COM 459902102 40 50,000 SH Put DFND 0 50,000 0
ISHARES CHINA LG-CAP ETF 464287184 20 64,300 SH Put DFND 0 64,300 0
ISHARES RUSSELL 2000 ETF 464287655 8 70 SH   DFND 0 70 0
ISHARES RUSSELL 2000 ETF 464287655 172 97,400 SH Put DFND 0 97,400 0
JETPAY CORP COM 477177109 28 13,330 SH   DFND 0 13,330 0
JOS A BANK CLOTHIERS INC COM 480838101 0 42,500 SH Put DFND 0 42,500 0
LORAL SPACE & COMMUNICATNS I COM 543881106 4,890 67,274 SH   DFND 0 67,274 0
LSB FINL CORP COM 501925101 1,140 27,209 SH   DFND 0 27,209 0
LULULEMON ATHLETICA INC COM 550021109 986 24,356 SH   DFND 0 24,356 0
MARTIN MARIETTA MATLS INC COM 573284106 5,610 42,487 SH   DFND 0 42,487 0
MEAD JOHNSON NUTRITION CO COM 582839106 3,628 38,940 SH   DFND 0 38,940 0
MEADOWBROOK INS GROUP INC COM 58319P108 6,832 950,253 SH   DFND 0 950,253 0
MEASUREMENT SPECIALTIES INC COM 583421102 4,193 48,712 SH   DFND 0 48,712 0
MEDALLION FINL CORP COM 583928106 935 75,000 SH   DFND 0 75,000 0
MEDTRONIC INC COM 585055106 6,322 99,159 SH   DFND 0 99,159 0
MGM RESORTS INTERNATIONAL COM 552953101 1,584 60,000 SH   DFND 0 60,000 0
MICROS SYS INC COM 594901100 7,276 107,164 SH   DFND 0 107,164 0
MICROS SYS INC COM 594901100 2 49,000 SH Put DFND 0 49,000 0
MORGANS HOTEL GROUP CO COM 61748W108 1,171 147,676 SH   DFND 0 147,676 0
MULTIMEDIA GAMES HLDG CO INC COM 625453105 2,896 97,704 SH   DFND 0 97,704 0
NATIONAL INTERSTATE CORP COM 63654U100 11,789 420,753 SH   DFND 0 420,753 0
NEW YORK & CO INC COM 649295102 932 252,680 SH   DFND 0 252,680 0
NEWCASTLE INVT CORP COM 65105M108 5,707 1,191,482 SH   DFND 0 1,191,482 0
NEWMONT MINING CORP COM 651639106 7,807 306,885 SH   DFND 0 306,885 0
NOKIA CORP SPONSORED ADR 654902204 7,689 1,017,010 SH   DFND 0 1,017,010 0
NORTH VALLEY BANCORP COM NEW 66304M204 2,109 96,801 SH   DFND 0 96,801 0
NUANCE COMMUNICATIONS INC COM 67020Y100 7,310 389,467 SH   DFND 0 389,467 0
NUANCE COMMUNICATIONS INC COM 67020Y100 62 236,600 SH Call DFND 0 236,600 0
NUANCE COMMUNICATIONS INC COM 67020Y100 39 305,600 SH Put DFND 0 305,600 0
NVIDIA CORP COM 67066G104 2,299 124,000 SH   DFND 0 124,000 0
OBA FINL SVCS INC COM 67424G101 7,949 355,344 SH   DFND 0 355,344 0
OMNIAMERICAN BANCORP INC COM 68216R107 13,450 537,986 SH   DFND 0 537,986 0
OPENTABLE INC COM 68372A104 5,047 48,712 SH   DFND 0 48,712 0
OVERSTOCK COM INC DEL COM 690370101 1,577 100,000 SH   DFND 0 100,000 0
PLX TECHNOLOGY INC COM 693417107 788 121,779 SH   DFND 0 121,779 0
PROSHARES TR SHRT 20+YR TRE 74347X849 5,757 199,900 SH   DFND 0 199,900 0
PROTECTIVE LIFE CORP COM 743674103 10,857 156,594 SH   DFND 0 156,594 0
QUANTUM CORP COM DSSG 747906204 602 493,046 SH   DFND 0 493,046 0
RDA MICROELECTRONICS INC SPONSORED ADR 749394102 1,976 115,492 SH   DFND 0 115,492 0
REYNOLDS AMERICAN INC COM 761713106 1,765 29,242 SH   DFND 0 29,242 0
REYNOLDS AMERICAN INC COM 761713106 3 29,600 SH Put DFND 0 29,600 0
RF MICRODEVICES INC COM 749941100 370 38,567 SH   DFND 0 38,567 0
SAFEWAY INC COM NEW 786514208 862 25,114 SH   DFND 0 25,114 0
SCHAWK INC CL A 806373106 1,811 88,934 SH   DFND 0 88,934 0
SHANDA GAMES LTD SP ADR REPTG A 81941U105 1,234 185,772 SH   DFND 0 185,772 0
SHIRE PLC SPONSORED ADR 82481R106 4,399 18,681 SH   DFND 0 18,681 0
SHIRE PLC SPONSORED ADR 82481R106 3 10,000 SH Put DFND 0 10,000 0
SIGMA DESIGNS INC COM 826565103 1,476 322,213 SH   DFND 0 322,213 0
SIZMEK INC COM 83013P105 789 82,762 SH   DFND 0 82,762 0
SMITH & NEPHEW PLC SPDN ADR NEW 83175M205 7,981 89,396 SH   DFND 0 89,396 0
SOLITARIO EXPL & RTY CORP COM 8342EP107 1,404 1,063,639 SH   DFND 0 1,063,639 0
SP BANCORP INC COM 78468K106 2,539 87,933 SH   DFND 0 87,933 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 431 2,200 SH   DFND 0 2,200 0
SPDR S&P 500 ETF TR TR UNIT 78462F103 219 182,700 SH Put DFND 0 182,700 0
SYNOVUS FINL CORP COM NEW 87161C501 1,157 47,469 SH   DFND 0 47,469 0
SYSCO CORP COM 871829107 2,430 64,890 SH   DFND 0 64,890 0
TEVA PHARMACEUTICAL INDS LTD ADR 881624209 2,568 48,982 SH   DFND 0 48,982 0
TF FINL CORP COM 872391107 1,424 33,296 SH   DFND 0 33,296 0
TIBCO SOFTWARE INC COM 88632Q103 2,948 146,134 SH   DFND 0 146,134 0
TIBCO SOFTWARE INC COM 88632Q103 19 126,300 SH Put DFND 0 126,300 0
TIME WARNER CABLE INC COM 88732J207 24,261 164,704 SH   DFND 0 164,704 0
TIVO INC COM 888706108 3,365 260,686 SH   DFND 0 260,686 0
T-MOBILE US INC COM 872590104 12,975 385,924 SH   DFND 0 385,924 0
T-MOBILE US INC COM 872590104 204 595,000 SH Call DFND 0 595,000 0
T-MOBILE US INC COM 872590104 4 39,400 SH Put DFND 0 39,400 0
TRIQUINT SEMICONDUCTOR INC COM 89674K103 1,468 92,857 SH   DFND 0 92,857 0
UNS ENERGY CORP COM 903119105 3,075 50,904 SH   DFND 0 50,904 0
VAIL RESORTS INC COM 91879Q109 2,409 31,209 SH   DFND 0 31,209 0
VALEANT PHARMACEUTICALS INTL COM 91911K102 245 97,000 SH Call DFND 0 97,000 0
WEB COM GROUP INC COM 94733A104 1,942 67,279 SH   DFND 0 67,279 0
WISDOMTREE TR EUROPE HEDGED EQ 97717X701 26,162 447,742 SH   DFND 0 447,742 0
WISDOMTREE TR JAPN HEDGE EQT 97717W851 136 259,200 SH Put DFND 0 259,200 0
YADKIN FINL CORP COM 984305102 1,106 58,680 SH   DFND 0 58,680 0
YONGYE INTL INC COM 98607B106 604 86,128 SH   DFND 0 86,128 0
ZAGG INC COM 98884U108 1,900 349,999 SH   DFND 0 349,999 0