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
AMERICAN CAP MTG INVT CORP COM 02504A104 2,015 101,937 SH   DFND   101,937 0 0
AMERICAN CAPITAL AGENCY CORP COM 02503X105 2,258 100,000 SH   DFND   100,000 0 0
APOLLO RESIDENTIAL MTG INC COM 03763V102 2,641 181,009 SH   DFND   181,009 0 0
APPLE INC COM 037833100 3,528 7,400 SH   DFND   7,400 0 0
APPLIED MATLS INC COM 038222105 9,549 544,700 SH Call DFND   544,700 0 0
APPLIED MATLS INC COM 038222105 9,549 544,700 SH Put DFND   544,700 0 0
BARCLAYS BK PLC IPATH S&P500 VIX 06740C188 21,890 1,489,200 SH Call DFND   1,489,200 0 0
BARCLAYS BK PLC IPATH S&P500 VIX 06740C188 23,734 1,614,700 SH Put DFND   1,614,700 0 0
CME GROUP INC COM 12572Q105 7,577 102,553 SH   DFND   102,553 0 0
CSX CORP COM 126408103 8,252 320,600 SH Call DFND   320,600 0 0
CSX CORP COM 126408103 8,252 320,600 SH Put DFND   320,600 0 0
EXXON MOBIL CORP COM 30231G102 2,938 34,143 SH   DFND   34,143 0 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 758 22,906 SH   DFND   22,906 0 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 6,302 190,500 SH Call DFND   190,500 0 0
FREEPORT-MCMORAN COPPER & GO COM 35671D857 6,302 190,500 SH Put DFND   190,500 0 0
GOLDCORP INC NEW COM 380956409 14,045 540,000 SH Call DFND   540,000 0 0
ISHARES MSCI BRZ CAP ETF 464286400 4,499 93,898 SH   DFND   93,898 0 0
ISHARES MSCI CDA ETF 464286509 3,581 126,479 SH   DFND   126,479 0 0
ISHARES MSCI JAPAN ETF 464286848 13,184 1,106,000 SH   DFND   1,106,000 0 0
JOHNSON & JOHNSON COM 478160104 419 4,829 SH   DFND   4,829 0 0
JOHNSON & JOHNSON COM 478160104 6,935 80,000 SH Put DFND   80,000 0 0
MARKET VECTORS ETF TR RUSSIA ETF 57060U506 1,057 37,500 SH   DFND   37,500 0 0
MOSAIC CO/THE COM 61945C103 4,269 99,231 SH   DFND   99,231 0 0
PETROLEO BRASILEIRO SA PETRO SPONSORED ADR 71654V408 775 50,000 SH   DFND   50,000 0 0
SELECT SECTOR SPDR TR SBI INT-FINL 81369Y605 2,920 146,700 SH   DFND   146,700 0 0
SELECT SECTOR SPDR TR SBI INT-INDS 81369Y704 3,559 76,700 SH   DFND   76,700 0 0
SILVER WHEATON CORP COM 828336107 12,385 500,000 SH Call DFND   500,000 0 0
SPDR GOLD TRUST GOLD SHS 78463V107 10,254 80,000 SH Put DFND   80,000 0 0
SPDR SERIES TRUST S&P METALS MNG 78464A755 1,180 32,200 SH   DFND   32,200 0 0
TRANSOCEAN LTD REG SHS H8817H100 4,571 102,713 SH   DFND   102,713 0 0
VISA INC COM CL A 92826C839 7,568 39,600 SH Call DFND   39,600 0 0
VISA INC COM CL A 92826C839 7,568 39,600 SH Put DFND   39,600 0 0