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
ACCO BRANDS CORP COM 00081T108 148,512 22,100 SH   SOLE   22,100 0 0
HUDSON CITY BANCORP INC COM 443683107 178,227 18,900 SH   SOLE   18,900 0 0
NII HOLDINGS INC COM 62913F201 149,325 54,300 SH   SOLE   54,300 0 0
ATLANTIC POWER CORP COM 04878Q863 149,640 43,000 SH   SOLE   43,000 0 0
DOUBLELINE INCOME SOLUTIONS ETF 258622109 415,473 19,700 SH   SOLE   19,700 0 0
INVESCO TRUST FOR INVESTMEN ETF 46131M106 191,713 15,740 SH   SOLE   15,740 0 0
WELLS FARGO & CO COM 949746101 372,280 8,200 SH   SOLE   8,200 0 0
BANK OF AMERICA CORP COM 060505104 420,390 27,000 SH   SOLE   27,000 0 0
BLACK HILLS CORP COM 092113109 336,064 6,400 SH   SOLE   6,400 0 0
VALMONT INDUSTRIES COM 920253101 581,568 3,900 SH   SOLE   3,900 0 0
HUNTINGTON BANCSHARES INC COM 446150104 132,205 13,700 SH   SOLE   13,700 0 0
IXIA COM 45071R109 145,079 10,900 SH   SOLE   10,900 0 0
JOY GLOBAL INC COM 481165108 713,578 12,200 SH   SOLE   12,200 0 0
EZCORP INC-CL A COM 302301106 148,463 12,700 SH   SOLE   12,700 0 0
UNITED TECHNOLOGIES CORP COM 913017109 1,206,280 10,600 SH   SOLE   10,600 0 0
COMERICA INC-CW18 WTS 200340115 3,512,820 184,400 SH   SOLE   184,400 0 0
ARCH COAL INC COM 039380100 142,845 32,100 SH   SOLE   32,100 0 0
SPDR S&P 500 ETF TRUST ETF 78462F103 43,712,059 236,678 SH   SOLE   236,678 0 0
SPDR S&P 500 ETF TRUST ETF 78462F103 235,170 871 SH Call SOLE   871 0 0
SPDR S&P 500 ETF TRUST ETF 78462F103 692,310 2,713 SH Call SOLE   2,713 0 0
SPDR S&P 500 ETF TRUST ETF 78462F103 880,560 500 SH Call SOLE   500 0 0
SPDR S&P 500 ETF TRUST ETF 78462F103 1,176,060 1,000 SH Call SOLE   1,000 0 0
SPDR S&P 500 ETF TRUST ETF 78462F103 1,522,560 1,500 SH Call SOLE   1,500 0 0
SPDR S&P 500 ETF TRUST ETF 78462F103 1,769,668 3,032 SH Call SOLE   3,032 0 0
SPDR S&P 500 ETF TRUST ETF 78462F103 3,603,162 2,522 SH Call SOLE   2,522 0 0
SPDR S&P 500 ETF TRUST ETF 78462F103 3,651,695 859 SH Put SOLE   859 0 0
SPDR S&P 500 ETF TRUST ETF 78462F103 4,604,025 1,749 SH Call SOLE   1,749 0 0
SPDR S&P 500 ETF TRUST ETF 78462F103 5,657,590 1,671 SH Call SOLE   1,671 0 0
SPDR S&P 500 ETF TRUST ETF 78462F103 6,058,034 3,351 SH Call SOLE   3,351 0 0
HEALTH MGMT ASSOCIATES INC-A COM 421933102 149,340 11,400 SH   SOLE   11,400 0 0
JPMORGAN CHASE & CO COM 46625H100 304,096 5,200 SH   SOLE   5,200 0 0
FUSION-IO INC COM 36112J107 164,835 18,500 SH   SOLE   18,500 0 0
GAMCO NATURAL RESOURCES GOLD ETF 36465E101 206,261 20,585 SH   SOLE   20,585 0 0
COHEN & STEERS LIMITED DURAT ETF 19248C105 302,203 13,360 SH   SOLE   13,360 0 0
PNC FINANCIAL SERVICES-CW18 WTS 693475121 3,295,713 185,674 SH   SOLE   185,674 0 0
CAMPUS CREST COMMUNITIES INC COM 13466Y105 143,973 15,300 SH   SOLE   15,300 0 0
SEARS HOLDINGS CORP COM 812350106 328,568 6,700 SH   SOLE   6,700 0 0
CAMDEN PROPERTY TRUST COM 133131102 574,488 10,100 SH   SOLE   10,100 0 0
NEUBERGER BERMAN MLP INCOME ETF 64129H104 619,661 32,460 SH   SOLE   32,460 0 0
DIGITAL REALTY TRUST INC COM 253868103 648,384 13,200 SH   SOLE   13,200 0 0
MOLYCORP INC COM 608753109 161,856 28,800 SH   SOLE   28,800 0 0
CATERPILLAR INC COM 149123101 1,575,553 17,350 SH   SOLE   17,350 0 0
INTL BUSINESS MACHINES CORP COM 459200101 600,224 3,200 SH   SOLE   3,200 0 0
CAMELOT INFORMATION SYS-ADS COM 13322V105 41,000 20,500 SH   SOLE   20,500 0 0
FLAHERTY & CRUMRINE DYNAMIC ETF 33848W106 201,604 9,820 SH   SOLE   9,820 0 0
ALLERGAN INC COM 018490102 677,588 6,100 SH   SOLE   6,100 0 0
ISHARES US REAL ESTATE ETF ETF 464287739 490 245 SH Call SOLE   245 0 0
BROWN & BROWN INC COM 115236101 690,580 22,000 SH   SOLE   22,000 0 0
NUANCE COMMUNICATIONS INC COM 67020Y100 603,440 39,700 SH   SOLE   39,700 0 0
WALTER ENERGY INC COM 93317Q105 171,289 10,300 SH   SOLE   10,300 0 0
BLACKROCK MUNICIPAL TARGET ETF 09257P105 1,205,333 70,405 SH   SOLE   70,405 0 0
DENTSPLY INTERNATIONAL INC COM 249030107 412,080 8,500 SH   SOLE   8,500 0 0
COEUR MINING INC COM 192108504 148,645 13,700 SH   SOLE   13,700 0 0
CHIMERA INVESTMENT CORP COM 16934Q109 868,000 280,000 SH   SOLE   280,000 0 0
GIANT INTERACTIVE GROUP-ADR COM 374511103 115,772 10,300 SH   SOLE   10,300 0 0
HCP INC COM 40414L109 1,223,984 33,700 SH   SOLE   33,700 0 0
DENDREON CORP COM 24823Q107 31,395 10,500 SH   SOLE   10,500 0 0
CREDIT SUISSE ASSET MGMT INC ETF 224916106 49,501 13,905 SH   SOLE   13,905 0 0
NEWMONT MINING CORP COM 651639106 598,780 26,000 SH   SOLE   26,000 0 0
NUVEEN MORTGAGE OPPORTUNITY ETF 670735109 410,040 17,720 SH   SOLE   17,720 0 0
ABRAXAS PETROLEUM CORP COM 003830106 95,873 29,400 SH   SOLE   29,400 0 0
INVESCO AD MIT II ETF 46132E103 190,622 18,120 SH   SOLE   18,120 0 0
TCF FINANCIAL CORP-CW18 WTS 872275128 475,860 144,200 SH   SOLE   144,200 0 0
ANWORTH MORTGAGE ASSET CORP COM 037347101 141,456 33,600 SH   SOLE   33,600 0 0
CAPITAL ONE FINANCIAL C-CW18 WTS 14040H139 886,000 25,000 SH   SOLE   25,000 0 0
URBAN OUTFITTERS INC COM 917047102 597,310 16,100 SH   SOLE   16,100 0 0
DWS MULTI-MARKET INCOME TRUS ETF 23338L108 150,474 16,025 SH   SOLE   16,025 0 0
H.B. FULLER CO. COM 359694106 270,608 5,200 SH   SOLE   5,200 0 0
ING EMERGING MARKETS HIGH DI ETF 45685X104 215,377 18,330 SH   SOLE   18,330 0 0
AMKOR TECHNOLOGY INC COM 031652100 91,950 15,000 SH   SOLE   15,000 0 0
STR HOLDINGS INC COM 78478V100 18,683 11,900 SH   SOLE   11,900 0 0
CITIGROUP INC COM 172967424 369,981 7,100 SH   SOLE   7,100 0 0
ANNALY CAPITAL MANAGEMENT IN COM 035710409 575,269 57,700 SH   SOLE   57,700 0 0
AMERICAN AIRLINES GROUP INC COM 02376R102 75,750 3,000 SH   SOLE   3,000 0 0
AMERICAN AIRLINES GROUP INC COM 02376R102 206,960 398 SH Put SOLE   398 0 0
AMERICAN AIRLINES GROUP INC COM 02376R102 208,460 300 SH Call SOLE   300 0 0
MFS INTERMEDIATE INC TRUST ETF 55273C107 68,376 13,200 SH   SOLE   13,200 0 0
CARNIVAL CORP COM 143658300 634,686 15,800 SH   SOLE   15,800 0 0
DIAMOND OFFSHORE DRILLING COM 25271C102 580,584 10,200 SH   SOLE   10,200 0 0
WESTERN ASSET EMERGING MARKE ETF 95766E103 190,150 16,060 SH   SOLE   16,060 0 0
MARKET VECTORS GOLD MINERS ETF 57060U100 1,901,700 90,000 SH   SOLE   90,000 0 0
MARKET VECTORS GOLD MINERS ETF 57060U100 185,600 1,600 SH Call SOLE   1,600 0 0
MARKET VECTORS GOLD MINERS ETF 57060U100 186,347 9 SH Call SOLE   9 0 0
EXPEDIA INC COM 30212P303 613,008 8,800 SH   SOLE   8,800 0 0
RPM INTERNATIONAL INC COM 749685103 394,345 9,500 SH   SOLE   9,500 0 0
RITE AID CORP COM 767754104 91,080 18,000 SH   SOLE   18,000 0 0
HALCON RESOURCES CORP COM 40537Q209 137,933 35,734 SH   SOLE   35,734 0 0
ISHARES MSCI EMERGING MARKET ETF 464287234 150,462 3,600 SH   SOLE   3,600 0 0
ISHARES MSCI EMERGING MARKET ETF 464287234 98,750 500 SH Call SOLE   500 0 0
ISHARES MSCI EMERGING MARKET ETF 464287234 99,362 36 SH Put SOLE   36 0 0
INVESCO MORTGAGE CAPITAL COM 46131B100 220,200 15,000 SH   SOLE   15,000 0 0
NUVEEN INTERMEDIATE DURATION ETF 670671106 723,345 62,845 SH   SOLE   62,845 0 0
SANOFI CVR COM 80105N113 25,772 75,800 SH   SOLE   75,800 0 0
EATON VANCE FLOAT RT INC TR ETF 278279104 395,722 25,915 SH   SOLE   25,915 0 0
SIRIUS XM HOLDINGS INC COM 82968B103 95,975 27,500 SH   SOLE   27,500 0 0
WEST PHARMACEUTICAL SERVICES COM 955306105 313,984 6,400 SH   SOLE   6,400 0 0
GAMING AND LEISURE PROPERTIE COM 36467J108 421,723 8,300 SH   SOLE   8,300 0 0
GAMCO GLOBAL GOLD NATURAL RE ETF 36465A109 260,678 28,900 SH   SOLE   28,900 0 0
MICROCHIP TECHNOLOGY INC COM 595017104 510,150 11,400 SH   SOLE   11,400 0 0
SHANDA GAMES LTD-SPONS ADR COM 81941U105 105,798 23,100 SH   SOLE   23,100 0 0
RF MICRO DEVICES INC COM 749941100 84,624 16,400 SH   SOLE   16,400 0 0
PEOPLE'S UNITED FINANCIAL COM 712704105 1,161,216 76,800 SH   SOLE   76,800 0 0
HECLA MINING CO COM 422704106 158,620 51,500 SH   SOLE   51,500 0 0
OFFICE DEPOT INC COM 676220106 175,628 33,200 SH   SOLE   33,200 0 0
COLE REAL ESTATE INVESTMENT COM 19329V105 176,904 12,600 SH   SOLE   12,600 0 0
TWITTER INC COM 901167106 254,600 4,000 SH   SOLE   4,000 0 0
GASTAR EXPLORATION INC COM 36729W202 139,784 20,200 SH   SOLE   20,200 0 0
OLD REPUBLIC INTL CORP COM 680223104 386,848 22,400 SH   SOLE   22,400 0 0
MICROSOFT CORP COM 594918104 229,285 6,129 SH   SOLE   6,129 0 0
CENTURYLINK INC COM 156700106 614,705 19,300 SH   SOLE   19,300 0 0
CYS INVESTMENTS INC COM 12673A108 190,437 25,700 SH   SOLE   25,700 0 0
BLACKROCK MUNIHOLDINGS QU II ETF 09254C107 152,092 12,580 SH   SOLE   12,580 0 0
EXELON CORP COM 30161N101 566,973 20,700 SH   SOLE   20,700 0 0
SWIFT ENERGY CO COM 870738101 137,700 10,200 SH   SOLE   10,200 0 0
PARKER DRILLING CO COM 701081101 92,682 11,400 SH   SOLE   11,400 0 0
TERADATA CORP COM 88076W103 650,507 14,300 SH   SOLE   14,300 0 0
NUVEEN FLOATING RT INC OPP ETF 6706EN100 415,094 34,080 SH   SOLE   34,080 0 0
VALLEY NATIONAL BANCORP-CW18 WTS 919794131 41,876 76,000 SH   SOLE   76,000 0 0
RED HAT INC COM 756577102 717,312 12,800 SH   SOLE   12,800 0 0
CULLEN/FROST BANKERS INC COM 229899109 535,896 7,200 SH   SOLE   7,200 0 0
EXTREME NETWORKS INC COM 30226D106 110,284 15,800 SH   SOLE   15,800 0 0
ISHARES MSCI BRAZIL CAPPED E ETF 464286400 1,117,000 25,000 SH   SOLE   25,000 0 0
KEYCORP COM 493267108 135,542 10,100 SH   SOLE   10,100 0 0
CBL & ASSOCIATES PROPERTIES COM 124830100 528,024 29,400 SH   SOLE   29,400 0 0
EARTHLINK HOLDINGS CORP COM 27033X101 139,397 27,500 SH   SOLE   27,500 0 0
WGL HOLDINGS INC COM 92924F106 224,336 5,600 SH   SOLE   5,600 0 0
NEWS CORP - CLASS A COM 65249B109 402,747 22,350 SH   SOLE   22,350 0 0
DR HORTON INC COM 23331A109 680,760 30,500 SH   SOLE   30,500 0 0
ALPHA NATURAL RESOURCES INC COM 02076X102 152,796 21,400 SH   SOLE   21,400 0 0
FIRST TRUST INTERMEDIATE DUR ETF 33718W103 941,375 44,300 SH   SOLE   44,300 0 0
MURPHY OIL CORP COM 626717102 201,128 3,100 SH   SOLE   3,100 0 0
SUPERVALU INC COM 868536103 81,648 11,200 SH   SOLE   11,200 0 0
INTUITIVE SURGICAL INC COM 46120E602 537,712 1,400 SH   SOLE   1,400 0 0
ISHARES NATIONAL AMT-FREE MU ETF 464288414 715,183 6,894 SH   SOLE   6,894 0 0
FOSSIL GROUP INC COM 34988V106 407,796 3,400 SH   SOLE   3,400 0 0
APTARGROUP INC COM 038336103 454,327 6,700 SH   SOLE   6,700 0 0
BROOKFIELD MORTGAGE OPPORTUN ETF 112792106 314,830 19,000 SH   SOLE   19,000 0 0
BIOSCRIP INC COM 09069N108 139,120 18,800 SH   SOLE   18,800 0 0
MURPHY USA INC COM 626755102 313,778 7,550 SH   SOLE   7,550 0 0
AMR CORP COM 001765106 1,025,100 90,000 SH   SOLE   90,000 0 0
CITRIX SYSTEMS INC COM 177376100 632,500 10,000 SH   SOLE   10,000 0 0
DILLARDS INC-CL A COM 254067101 602,702 6,200 SH   SOLE   6,200 0 0
ARMOUR RESIDENTIAL REIT INC COM 042315101 143,157 35,700 SH   SOLE   35,700 0 0
QUICKSILVER RESOURCES INC COM 74837R104 33,770 11,000 SH   SOLE   11,000 0 0
YONGYE INTERNATIONAL INC COM 98607B106 79,360 12,400 SH   SOLE   12,400 0 0
SOUTHERN COPPER CORP COM 84265V105 631,620 22,000 SH   SOLE   22,000 0 0
COACH INC COM 189754104 578,139 10,300 SH   SOLE   10,300 0 0
PENNYMAC MORTGAGE INVESTMENT COM 70931T103 229,600 10,000 SH   SOLE   10,000 0 0
INFINITY PHARMACEUTICALS INC COM 45665G303 150,529 10,900 SH   SOLE   10,900 0 0
INVESCO MUNICIPAL OPPORTUNI ETF 46132C107 147,663 12,610 SH   SOLE   12,610 0 0
AEROPOSTALE INC COM 007865108 169,983 18,700 SH   SOLE   18,700 0 0
EMULEX CORP COM 292475209 109,548 15,300 SH   SOLE   15,300 0 0
DFC GLOBAL CORP COM 23324T107 151,712 13,250 SH   SOLE   13,250 0 0