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    <nameOfIssuer>3D Systems Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88554D205</cusip>
    <figi>BBG000D42FJ0</figi>
    <value>2059523</value>
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      <sshPrnamt>1095491</sshPrnamt>
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    <votingAuthority>
      <Sole>1095491</Sole>
      <Shared>1095491</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>3M Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88579Y101</cusip>
    <figi>BBG000BP52R2</figi>
    <value>46378765</value>
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      <sshPrnamt>319347</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>319347</Sole>
      <Shared>319347</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>3M Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88579Y101</cusip>
    <figi>BBG000BP52R2</figi>
    <value>1670145</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11500</Sole>
      <Shared>11500</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>3M Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88579Y101</cusip>
    <figi>BBG000BP52R2</figi>
    <value>7566483</value>
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      <sshPrnamt>52100</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52100</Sole>
      <Shared>52100</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>8X8 Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>282914100</cusip>
    <figi>BBG000BCGHH7</figi>
    <value>694982</value>
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      <sshPrnamt>418664</sshPrnamt>
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      <Sole>418664</Sole>
      <Shared>418664</Shared>
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  <infoTable>
    <nameOfIssuer>A O Smith Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>831865209</cusip>
    <figi>BBG000BC1L02</figi>
    <value>296730</value>
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      <sshPrnamt>4500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4500</Sole>
      <Shared>4500</Shared>
      <None>0</None>
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  <infoTable>
    <nameOfIssuer>A O Smith Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>831865209</cusip>
    <figi>BBG000BC1L02</figi>
    <value>593460</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9000</Sole>
      <Shared>9000</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>A10 Networks Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>002121101</cusip>
    <figi>BBG0060K22C1</figi>
    <value>5522374</value>
    <shrsOrPrnAmt>
      <sshPrnamt>238857</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>238857</Sole>
      <Shared>238857</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>A2Z Cust2Mate Solutions Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>002205102</cusip>
    <figi>BBG00TM0F0B2</figi>
    <value>98716</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14800</Sole>
      <Shared>14800</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Abbott Laboratories - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>002824100</cusip>
    <figi>BBG000B9ZXB4</figi>
    <value>33496909</value>
    <shrsOrPrnAmt>
      <sshPrnamt>326258</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>326258</Sole>
      <Shared>326258</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Abbott Laboratories - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>002824100</cusip>
    <figi>BBG000B9ZXB4</figi>
    <value>3562649</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34700</Sole>
      <Shared>34700</Shared>
      <None>0</None>
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    <nameOfIssuer>Abbott Laboratories - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>002824100</cusip>
    <figi>BBG000B9ZXB4</figi>
    <value>25575097</value>
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      <sshPrnamt>249100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>249100</Sole>
      <Shared>249100</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>Abbvie Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00287Y109</cusip>
    <figi>BBG0025Y4RY4</figi>
    <value>35027417</value>
    <shrsOrPrnAmt>
      <sshPrnamt>161053</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>161053</Sole>
      <Shared>161053</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Abbvie Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00287Y109</cusip>
    <figi>BBG0025Y4RY4</figi>
    <value>7633899</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35100</Sole>
      <Shared>35100</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Abbvie Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00287Y109</cusip>
    <figi>BBG0025Y4RY4</figi>
    <value>41018614</value>
    <shrsOrPrnAmt>
      <sshPrnamt>188600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>188600</Sole>
      <Shared>188600</Shared>
      <None>0</None>
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    <nameOfIssuer>Abcellera Biologics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00288U106</cusip>
    <figi>BBG00LLW2MF2</figi>
    <value>7934477</value>
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      <sshPrnamt>2273489</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2273489</Sole>
      <Shared>2273489</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>Abercrombie &amp; Fitch Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>002896207</cusip>
    <figi>BBG000H9G7X2</figi>
    <value>537712</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5885</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5885</Sole>
      <Shared>5885</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Abercrombie &amp; Fitch Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>002896207</cusip>
    <figi>BBG000H9G7X2</figi>
    <value>1169536</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12800</Sole>
      <Shared>12800</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Abercrombie &amp; Fitch Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>002896207</cusip>
    <figi>BBG000H9G7X2</figi>
    <value>2923840</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32000</Sole>
      <Shared>32000</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Abivax SA - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>00370M103</cusip>
    <figi>BBG01JLQNZ03</figi>
    <value>11314385</value>
    <shrsOrPrnAmt>
      <sshPrnamt>101611</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>101611</Sole>
      <Shared>101611</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Abivax SA - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00370M103</cusip>
    <figi>BBG01JLQNZ03</figi>
    <value>1636845</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14700</Sole>
      <Shared>14700</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>abrdn Gold ETF Trust - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>00326A104</cusip>
    <figi>BBG000BDHB87</figi>
    <value>7384699</value>
    <shrsOrPrnAmt>
      <sshPrnamt>165502</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>165502</Sole>
      <Shared>165502</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>abrdn Platinum ETF Trust - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>003260106</cusip>
    <figi>BBG000Q4V1R6</figi>
    <value>738585</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4144</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4144</Sole>
      <Shared>4144</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Acadia Realty Trust - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>004239109</cusip>
    <figi>BBG000BJGD54</figi>
    <value>919997</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48117</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>48117</Sole>
      <Shared>48117</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Accel Entertainment Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00436Q106</cusip>
    <figi>BBG00GX221W3</figi>
    <value>3260955</value>
    <shrsOrPrnAmt>
      <sshPrnamt>298896</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>298896</Sole>
      <Shared>298896</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>Accendra Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>690732102</cusip>
    <figi>BBG000CTV5F0</figi>
    <value>491459</value>
    <shrsOrPrnAmt>
      <sshPrnamt>215552</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>215552</Sole>
      <Shared>215552</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>Accenture Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G1151C101</cusip>
    <figi>BBG000D9D830</figi>
    <value>5492633</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27700</Sole>
      <Shared>27700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Accenture Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G1151C101</cusip>
    <figi>BBG000D9D830</figi>
    <value>19432420</value>
    <shrsOrPrnAmt>
      <sshPrnamt>98000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>98000</Sole>
      <Shared>98000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
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    <nameOfIssuer>Accuray Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>004397105</cusip>
    <figi>BBG000QNRY51</figi>
    <value>82121</value>
    <shrsOrPrnAmt>
      <sshPrnamt>211597</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>211597</Sole>
      <Shared>211597</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Acm Research Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00108J109</cusip>
    <figi>BBG00HPSG933</figi>
    <value>1389055</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35300</Sole>
      <Shared>35300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Acuity Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00508Y102</cusip>
    <figi>BBG000BJ5HK0</figi>
    <value>3939053</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14057</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14057</Sole>
      <Shared>14057</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Acv Auctions Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00091G104</cusip>
    <figi>BBG00G5JGQ66</figi>
    <value>5528515</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1303895</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1303895</Sole>
      <Shared>1303895</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Acv Auctions Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00091G104</cusip>
    <figi>BBG00G5JGQ66</figi>
    <value>83528</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19700</Sole>
      <Shared>19700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Adamas Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>649604840</cusip>
    <figi>BBG000GZ8014</figi>
    <value>326379</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44345</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44345</Sole>
      <Shared>44345</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Adaptive Biotechnologies Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00650F109</cusip>
    <figi>BBG001J2PFF5</figi>
    <value>10913580</value>
    <shrsOrPrnAmt>
      <sshPrnamt>786281</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>786281</Sole>
      <Shared>786281</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Adecoagro Sa - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>L00849106</cusip>
    <figi>BBG001DCNPK3</figi>
    <value>5511153</value>
    <shrsOrPrnAmt>
      <sshPrnamt>366921</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>366921</Sole>
      <Shared>366921</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Adient Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G0084W101</cusip>
    <figi>BBG009PN0C87</figi>
    <value>5216686</value>
    <shrsOrPrnAmt>
      <sshPrnamt>258124</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>258124</Sole>
      <Shared>258124</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Adma Biologics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>000899104</cusip>
    <figi>BBG002NCK5M5</figi>
    <value>6379882</value>
    <shrsOrPrnAmt>
      <sshPrnamt>708089</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>708089</Sole>
      <Shared>708089</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Adma Biologics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>000899104</cusip>
    <figi>BBG002NCK5M5</figi>
    <value>10398441</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1154100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1154100</Sole>
      <Shared>1154100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Adma Biologics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>000899104</cusip>
    <figi>BBG002NCK5M5</figi>
    <value>107219</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11900</Sole>
      <Shared>11900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Adobe Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00724F101</cusip>
    <figi>BBG000BB5006</figi>
    <value>43898060</value>
    <shrsOrPrnAmt>
      <sshPrnamt>180591</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>180591</Sole>
      <Shared>180591</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Adobe Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00724F101</cusip>
    <figi>BBG000BB5006</figi>
    <value>34274280</value>
    <shrsOrPrnAmt>
      <sshPrnamt>141000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>141000</Sole>
      <Shared>141000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Adobe Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00724F101</cusip>
    <figi>BBG000BB5006</figi>
    <value>96259680</value>
    <shrsOrPrnAmt>
      <sshPrnamt>396000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>396000</Sole>
      <Shared>396000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Adtran Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00486H105</cusip>
    <figi>BBG0169CH7X9</figi>
    <value>8239183</value>
    <shrsOrPrnAmt>
      <sshPrnamt>654943</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>654943</Sole>
      <Shared>654943</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Advance Auto Parts Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00751Y106</cusip>
    <figi>BBG000F7RCJ1</figi>
    <value>506400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9600</Sole>
      <Shared>9600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Advanced Energy Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>007973100</cusip>
    <figi>BBG000FKMP26</figi>
    <value>1129485</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3500</Sole>
      <Shared>3500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Advanced Energy Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>007973100</cusip>
    <figi>BBG000FKMP26</figi>
    <value>742233</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2300</Sole>
      <Shared>2300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Advanced Micro Devices Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>007903107</cusip>
    <figi>BBG000BBQCY0</figi>
    <value>108956294</value>
    <shrsOrPrnAmt>
      <sshPrnamt>535596</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>535596</Sole>
      <Shared>535596</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Advanced Micro Devices Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>007903107</cusip>
    <figi>BBG000BBQCY0</figi>
    <value>23170677</value>
    <shrsOrPrnAmt>
      <sshPrnamt>113900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>113900</Sole>
      <Shared>113900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Advanced Micro Devices Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>007903107</cusip>
    <figi>BBG000BBQCY0</figi>
    <value>168704499</value>
    <shrsOrPrnAmt>
      <sshPrnamt>829300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>829300</Sole>
      <Shared>829300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Advansix Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00773T101</cusip>
    <figi>BBG00CWTTQ41</figi>
    <value>3491103</value>
    <shrsOrPrnAmt>
      <sshPrnamt>143078</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>143078</Sole>
      <Shared>143078</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aecom - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00766T100</cusip>
    <figi>BBG000F61RJ8</figi>
    <value>19684941</value>
    <shrsOrPrnAmt>
      <sshPrnamt>232079</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>232079</Sole>
      <Shared>232079</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aehr Test Systems - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00760J108</cusip>
    <figi>BBG000BWM083</figi>
    <value>1786996</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48193</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>48193</Sole>
      <Shared>48193</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aercap Holdings Nv - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>N00985106</cusip>
    <figi>BBG000Q9FZL4</figi>
    <value>16795496</value>
    <shrsOrPrnAmt>
      <sshPrnamt>122434</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>122434</Sole>
      <Shared>122434</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aercap Holdings Nv - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N00985106</cusip>
    <figi>BBG000Q9FZL4</figi>
    <value>3292320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24000</Sole>
      <Shared>24000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aerovironment Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>008073108</cusip>
    <figi>BBG000GX14P2</figi>
    <value>6814219</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37226</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37226</Sole>
      <Shared>37226</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aerovironment Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>008073108</cusip>
    <figi>BBG000GX14P2</figi>
    <value>366100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2000</Sole>
      <Shared>2000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aerovironment Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>008073108</cusip>
    <figi>BBG000GX14P2</figi>
    <value>7944370</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43400</Sole>
      <Shared>43400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aersale Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00810F106</cusip>
    <figi>BBG00R28X833</figi>
    <value>249385</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40094</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40094</Sole>
      <Shared>40094</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aes Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00130H105</cusip>
    <figi>BBG000C23KJ3</figi>
    <value>32565752</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2311267</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2311267</Sole>
      <Shared>2311267</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aes Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00130H105</cusip>
    <figi>BBG000C23KJ3</figi>
    <value>873580</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>62000</Sole>
      <Shared>62000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aes Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00130H105</cusip>
    <figi>BBG000C23KJ3</figi>
    <value>777768</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>55200</Sole>
      <Shared>55200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aeva Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00835Q202</cusip>
    <figi>BBG00RK5L2N3</figi>
    <value>3391016</value>
    <shrsOrPrnAmt>
      <sshPrnamt>257676</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>257676</Sole>
      <Shared>257676</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Affiliated Managers Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>008252108</cusip>
    <figi>BBG000C060M4</figi>
    <value>3293837</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11904</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11904</Sole>
      <Shared>11904</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Affirm Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00827B106</cusip>
    <figi>BBG00Y7BP8Y1</figi>
    <value>1282960</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28000</Sole>
      <Shared>28000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Affirm Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00827B106</cusip>
    <figi>BBG00Y7BP8Y1</figi>
    <value>1493732</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32600</Sole>
      <Shared>32600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aflac Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>001055102</cusip>
    <figi>BBG000BBBNC6</figi>
    <value>5983035</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54535</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>54535</Sole>
      <Shared>54535</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aflac Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>001055102</cusip>
    <figi>BBG000BBBNC6</figi>
    <value>4454226</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40600</Sole>
      <Shared>40600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aflac Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>001055102</cusip>
    <figi>BBG000BBBNC6</figi>
    <value>1601766</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14600</Sole>
      <Shared>14600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Agco Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>001084102</cusip>
    <figi>BBG000DCCZW2</figi>
    <value>6341333</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54728</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>54728</Sole>
      <Shared>54728</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Agilent Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00846U101</cusip>
    <figi>BBG000C2V3D6</figi>
    <value>18202492</value>
    <shrsOrPrnAmt>
      <sshPrnamt>159699</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>159699</Sole>
      <Shared>159699</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Agilent Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00846U101</cusip>
    <figi>BBG000C2V3D6</figi>
    <value>262154</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2300</Sole>
      <Shared>2300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Agilent Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00846U101</cusip>
    <figi>BBG000C2V3D6</figi>
    <value>1572924</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13800</Sole>
      <Shared>13800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Agilon Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00857U206</cusip>
    <figi>BBG00HCYVQQ4</figi>
    <value>254939</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32230</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32230</Sole>
      <Shared>32230</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Agilysys Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00847J105</cusip>
    <figi>BBG000BR74W6</figi>
    <value>1286282</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18081</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18081</Sole>
      <Shared>18081</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Agios Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00847X104</cusip>
    <figi>BBG000QY4ZD0</figi>
    <value>1967248</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58151</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58151</Sole>
      <Shared>58151</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Agios Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00847X104</cusip>
    <figi>BBG000QY4ZD0</figi>
    <value>463471</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13700</Sole>
      <Shared>13700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Agnc Investment Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00123Q104</cusip>
    <figi>BBG000TJ8XZ7</figi>
    <value>26154268</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2607604</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2607604</Sole>
      <Shared>2607604</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Agnc Investment Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00123Q104</cusip>
    <figi>BBG000TJ8XZ7</figi>
    <value>2610809</value>
    <shrsOrPrnAmt>
      <sshPrnamt>260300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>260300</Sole>
      <Shared>260300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Agnc Investment Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00123Q104</cusip>
    <figi>BBG000TJ8XZ7</figi>
    <value>1246729</value>
    <shrsOrPrnAmt>
      <sshPrnamt>124300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>124300</Sole>
      <Shared>124300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Agnico Eagle Mines Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>008474108</cusip>
    <figi>BBG000DLVDK3</figi>
    <value>2694560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13275</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13275</Sole>
      <Shared>13275</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Agnico Eagle Mines Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>008474108</cusip>
    <figi>BBG000DLVDK3</figi>
    <value>3734832</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18400</Sole>
      <Shared>18400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Agnico Eagle Mines Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>008474108</cusip>
    <figi>BBG000DLVDK3</figi>
    <value>16725552</value>
    <shrsOrPrnAmt>
      <sshPrnamt>82400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>82400</Sole>
      <Shared>82400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Agree Realty Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>008492100</cusip>
    <figi>BBG000BC9DK0</figi>
    <value>23024972</value>
    <shrsOrPrnAmt>
      <sshPrnamt>305452</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>305452</Sole>
      <Shared>305452</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Air Lease Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00912X302</cusip>
    <figi>BBG000R3NPZ4</figi>
    <value>3155694</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48594</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>48594</Sole>
      <Shared>48594</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Air Lease Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00912X302</cusip>
    <figi>BBG000R3NPZ4</figi>
    <value>2117044</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32600</Sole>
      <Shared>32600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Air Products And Chemicals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>009158106</cusip>
    <figi>BBG000BC4JJ4</figi>
    <value>10333891</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35574</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35574</Sole>
      <Shared>35574</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Air Products And Chemicals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>009158106</cusip>
    <figi>BBG000BC4JJ4</figi>
    <value>871470</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3000</Sole>
      <Shared>3000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Air Products And Chemicals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>009158106</cusip>
    <figi>BBG000BC4JJ4</figi>
    <value>1307205</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4500</Sole>
      <Shared>4500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Airbnb Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>009066101</cusip>
    <figi>BBG001Y2XS07</figi>
    <value>1578500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12500</Sole>
      <Shared>12500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Airbnb Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>009066101</cusip>
    <figi>BBG001Y2XS07</figi>
    <value>6301372</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49900</Sole>
      <Shared>49900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AIRO Group Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>009422106</cusip>
    <figi>BBG01FRGW2W5</figi>
    <value>1218580</value>
    <shrsOrPrnAmt>
      <sshPrnamt>160234</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>160234</Sole>
      <Shared>160234</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Airsculpt Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>009496100</cusip>
    <figi>BBG012V27C29</figi>
    <value>783002</value>
    <shrsOrPrnAmt>
      <sshPrnamt>276679</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>276679</Sole>
      <Shared>276679</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Akamai Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00971T101</cusip>
    <figi>BBG000BJQWD2</figi>
    <value>1274835</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11100</Sole>
      <Shared>11100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Akamai Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00971T101</cusip>
    <figi>BBG000BJQWD2</figi>
    <value>3411045</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29700</Sole>
      <Shared>29700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Akamai Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>00971TAL5</cusip>
    <figi>BBG00PZ6TJ72</figi>
    <value>58205358</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50203000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50203000</Sole>
      <Shared>50203000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Akebia Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00972D105</cusip>
    <figi>BBG000R33R00</figi>
    <value>15151</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10900</Sole>
      <Shared>10900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alamo Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>011311107</cusip>
    <figi>BBG000BJTZX0</figi>
    <value>3134430</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19000</Sole>
      <Shared>19000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alamos Gold Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>011532108</cusip>
    <figi>BBG009HT6BL4</figi>
    <value>5753374</value>
    <shrsOrPrnAmt>
      <sshPrnamt>129493</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>129493</Sole>
      <Shared>129493</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alamos Gold Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>011532108</cusip>
    <figi>BBG009HT6BL4</figi>
    <value>279909</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6300</Sole>
      <Shared>6300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alamos Gold Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>011532108</cusip>
    <figi>BBG009HT6BL4</figi>
    <value>3083442</value>
    <shrsOrPrnAmt>
      <sshPrnamt>69400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>69400</Sole>
      <Shared>69400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alarm.Com Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>011642105</cusip>
    <figi>BBG007GNPYY7</figi>
    <value>10286778</value>
    <shrsOrPrnAmt>
      <sshPrnamt>238175</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>238175</Sole>
      <Shared>238175</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alaska Air Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>011659109</cusip>
    <figi>BBG000BBL0Y1</figi>
    <value>2238946</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60874</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60874</Sole>
      <Shared>60874</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alaska Air Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>011659109</cusip>
    <figi>BBG000BBL0Y1</figi>
    <value>1526370</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41500</Sole>
      <Shared>41500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alaska Air Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>011659109</cusip>
    <figi>BBG000BBL0Y1</figi>
    <value>3516168</value>
    <shrsOrPrnAmt>
      <sshPrnamt>95600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>95600</Sole>
      <Shared>95600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Albemarle Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>012653101</cusip>
    <figi>BBG000BJ26K7</figi>
    <value>48498234</value>
    <shrsOrPrnAmt>
      <sshPrnamt>270140</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>270140</Sole>
      <Shared>270140</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Albemarle Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>012653101</cusip>
    <figi>BBG000BJ26K7</figi>
    <value>8348145</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46500</Sole>
      <Shared>46500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Albemarle Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>012653101</cusip>
    <figi>BBG000BJ26K7</figi>
    <value>31543421</value>
    <shrsOrPrnAmt>
      <sshPrnamt>175700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>175700</Sole>
      <Shared>175700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Albertsons Cos Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>013091103</cusip>
    <figi>BBG009KG1750</figi>
    <value>1901528</value>
    <shrsOrPrnAmt>
      <sshPrnamt>111592</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>111592</Sole>
      <Shared>111592</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alcoa Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>013872106</cusip>
    <figi>BBG00B3T3HD3</figi>
    <value>23689826</value>
    <shrsOrPrnAmt>
      <sshPrnamt>357151</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>357151</Sole>
      <Shared>357151</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alcoa Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>013872106</cusip>
    <figi>BBG00B3T3HD3</figi>
    <value>1671516</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25200</Sole>
      <Shared>25200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alcoa Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>013872106</cusip>
    <figi>BBG00B3T3HD3</figi>
    <value>8622900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>130000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>130000</Sole>
      <Shared>130000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alcon Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>H01301128</cusip>
    <figi>BBG00NPWH832</figi>
    <value>382627</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5078</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5078</Sole>
      <Shared>5078</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alcon Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H01301128</cusip>
    <figi>BBG00NPWH832</figi>
    <value>346610</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4600</Sole>
      <Shared>4600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alexandria Real Estate Equities Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>015271109</cusip>
    <figi>BBG000BC33T9</figi>
    <value>3174989</value>
    <shrsOrPrnAmt>
      <sshPrnamt>68397</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>68397</Sole>
      <Shared>68397</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alexandria Real Estate Equities Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>015271109</cusip>
    <figi>BBG000BC33T9</figi>
    <value>1281192</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27600</Sole>
      <Shared>27600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alexandria Real Estate Equities Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>015271109</cusip>
    <figi>BBG000BC33T9</figi>
    <value>4971582</value>
    <shrsOrPrnAmt>
      <sshPrnamt>107100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>107100</Sole>
      <Shared>107100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alibaba Group Holding Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>01609W102</cusip>
    <figi>BBG006G2JVL2</figi>
    <value>26379972</value>
    <shrsOrPrnAmt>
      <sshPrnamt>210266</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>210266</Sole>
      <Shared>210266</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alibaba Group Holding Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>01609W102</cusip>
    <figi>BBG006G2JVL2</figi>
    <value>178830684</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1425400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1425400</Sole>
      <Shared>1425400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alibaba Group Holding Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>01609W102</cusip>
    <figi>BBG006G2JVL2</figi>
    <value>300012498</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2391300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2391300</Sole>
      <Shared>2391300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Align Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>016255101</cusip>
    <figi>BBG000BRNLL2</figi>
    <value>377146</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2200</Sole>
      <Shared>2200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Align Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>016255101</cusip>
    <figi>BBG000BRNLL2</figi>
    <value>1851444</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10800</Sole>
      <Shared>10800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alignment Healthcare Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>01625V104</cusip>
    <figi>BBG00ZJ0DSR6</figi>
    <value>3744056</value>
    <shrsOrPrnAmt>
      <sshPrnamt>212489</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>212489</Sole>
      <Shared>212489</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Allegion Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G0176J109</cusip>
    <figi>BBG003PS7JV1</figi>
    <value>57211279</value>
    <shrsOrPrnAmt>
      <sshPrnamt>393773</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>393773</Sole>
      <Shared>393773</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Allegro Microsystems Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>01749D105</cusip>
    <figi>BBG00H5S8391</figi>
    <value>1170646</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37128</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37128</Sole>
      <Shared>37128</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alliance Laundry Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>01862Q107</cusip>
    <figi>BBG000P6B087</figi>
    <value>1484362</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71570</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>71570</Sole>
      <Shared>71570</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alliant Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>018802108</cusip>
    <figi>BBG000DW4Q75</figi>
    <value>443405</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6179</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6179</Sole>
      <Shared>6179</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Allient Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>019330109</cusip>
    <figi>BBG000BKVYJ3</figi>
    <value>2297951</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38889</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38889</Sole>
      <Shared>38889</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Allogene Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>019770106</cusip>
    <figi>BBG00KHRRDX3</figi>
    <value>175936</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72105</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>72105</Sole>
      <Shared>72105</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Allstate Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>020002101</cusip>
    <figi>BBG000BVMGF2</figi>
    <value>17159251</value>
    <shrsOrPrnAmt>
      <sshPrnamt>82759</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>82759</Sole>
      <Shared>82759</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Allstate Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>020002101</cusip>
    <figi>BBG000BVMGF2</figi>
    <value>290276</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1400</Sole>
      <Shared>1400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Allstate Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>020002101</cusip>
    <figi>BBG000BVMGF2</figi>
    <value>1679454</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8100</Sole>
      <Shared>8100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ally Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>02005N100</cusip>
    <figi>BBG000BC2R71</figi>
    <value>274610</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7000</Sole>
      <Shared>7000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alnylam Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>02043Q107</cusip>
    <figi>BBG000BFGNJ5</figi>
    <value>297783</value>
    <shrsOrPrnAmt>
      <sshPrnamt>900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>900</Sole>
      <Shared>900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alnylam Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>02043Q107</cusip>
    <figi>BBG000BFGNJ5</figi>
    <value>595566</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1800</Sole>
      <Shared>1800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alpha &amp; Omega Semiconductor Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G6331P104</cusip>
    <figi>BBG000QLW222</figi>
    <value>1541228</value>
    <shrsOrPrnAmt>
      <sshPrnamt>69550</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>69550</Sole>
      <Shared>69550</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alpha Cognition Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>02074J501</cusip>
    <figi>BBG011CJPRD0</figi>
    <value>338162</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61596</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>61596</Sole>
      <Shared>61596</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alpha Metallurgical Resources Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>020764106</cusip>
    <figi>BBG00DGWV035</figi>
    <value>430862</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2099</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2099</Sole>
      <Shared>2099</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alphabet, Inc.</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>02079K305</cusip>
    <figi>BBG009S39JX6</figi>
    <value>162028270</value>
    <shrsOrPrnAmt>
      <sshPrnamt>563459</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>563459</Sole>
      <Shared>563459</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alphabet, Inc.</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>02079K305</cusip>
    <figi>BBG009S39JX6</figi>
    <value>133974204</value>
    <shrsOrPrnAmt>
      <sshPrnamt>465900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>465900</Sole>
      <Shared>465900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alphabet, Inc.</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>02079K305</cusip>
    <figi>BBG009S39JX6</figi>
    <value>188179264</value>
    <shrsOrPrnAmt>
      <sshPrnamt>654400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>654400</Sole>
      <Shared>654400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alphabet, Inc. - C Shares</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>02079K107</cusip>
    <figi>BBG009S3NB30</figi>
    <value>5706219</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19892</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19892</Sole>
      <Shared>19892</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alphabet, Inc. - C Shares</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>02079K107</cusip>
    <figi>BBG009S3NB30</figi>
    <value>20481804</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>71400</Sole>
      <Shared>71400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alphabet, Inc. - C Shares</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>02079K107</cusip>
    <figi>BBG009S3NB30</figi>
    <value>22202964</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>77400</Sole>
      <Shared>77400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alphatec Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>02081G201</cusip>
    <figi>BBG000BBM7Y5</figi>
    <value>2900053</value>
    <shrsOrPrnAmt>
      <sshPrnamt>266549</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>266549</Sole>
      <Shared>266549</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alta Equipment Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>02128L106</cusip>
    <figi>BBG00NZ6JVD4</figi>
    <value>791001</value>
    <shrsOrPrnAmt>
      <sshPrnamt>147300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>147300</Sole>
      <Shared>147300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Altria Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>02209S103</cusip>
    <figi>BBG000BP6LJ8</figi>
    <value>21750370</value>
    <shrsOrPrnAmt>
      <sshPrnamt>329601</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>329601</Sole>
      <Shared>329601</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Altria Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>02209S103</cusip>
    <figi>BBG000BP6LJ8</figi>
    <value>1814725</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27500</Sole>
      <Shared>27500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Altria Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>02209S103</cusip>
    <figi>BBG000BP6LJ8</figi>
    <value>9561951</value>
    <shrsOrPrnAmt>
      <sshPrnamt>144900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>144900</Sole>
      <Shared>144900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Alumis Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>022307102</cusip>
    <figi>BBG01J7X4PN2</figi>
    <value>2343463</value>
    <shrsOrPrnAmt>
      <sshPrnamt>106376</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>106376</Sole>
      <Shared>106376</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amazon.Com Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>023135106</cusip>
    <figi>BBG000BVPV84</figi>
    <value>185798708</value>
    <shrsOrPrnAmt>
      <sshPrnamt>892105</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>892105</Sole>
      <Shared>892105</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amazon.Com Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>023135106</cusip>
    <figi>BBG000BVPV84</figi>
    <value>38467469</value>
    <shrsOrPrnAmt>
      <sshPrnamt>184700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>184700</Sole>
      <Shared>184700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amazon.Com Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>023135106</cusip>
    <figi>BBG000BVPV84</figi>
    <value>277103235</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1330500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1330500</Sole>
      <Shared>1330500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ambarella Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G037AX101</cusip>
    <figi>BBG001QZCPJ2</figi>
    <value>262527</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5100</Sole>
      <Shared>5100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ambev Sa - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>02319V103</cusip>
    <figi>BBG000BN5VZ4</figi>
    <value>293086</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100372</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100372</Sole>
      <Shared>100372</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amcor Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G0250X149</cusip>
    <figi>BBG00LNJRQ09</figi>
    <value>5161299</value>
    <shrsOrPrnAmt>
      <sshPrnamt>129844</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>129844</Sole>
      <Shared>129844</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amdocs Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G02602103</cusip>
    <figi>BBG000C3MXG5</figi>
    <value>3608878</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>55300</Sole>
      <Shared>55300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amdocs Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G02602103</cusip>
    <figi>BBG000C3MXG5</figi>
    <value>2166632</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33200</Sole>
      <Shared>33200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amentum Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>023939101</cusip>
    <figi>BBG01NY7B734</figi>
    <value>307744</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11800</Sole>
      <Shared>11800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amer Sports Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G0260P102</cusip>
    <figi>BBG01KWR26Q5</figi>
    <value>1162603</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35316</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35316</Sole>
      <Shared>35316</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amer Sports Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G0260P102</cusip>
    <figi>BBG01KWR26Q5</figi>
    <value>355536</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10800</Sole>
      <Shared>10800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ameren Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>023608102</cusip>
    <figi>BBG000B9X8C0</figi>
    <value>10208930</value>
    <shrsOrPrnAmt>
      <sshPrnamt>92876</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>92876</Sole>
      <Shared>92876</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ameresco Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>02361E108</cusip>
    <figi>BBG000BD1QL6</figi>
    <value>5488722</value>
    <shrsOrPrnAmt>
      <sshPrnamt>215244</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>215244</Sole>
      <Shared>215244</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Airlines Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>02376R102</cusip>
    <figi>BBG005P7Q881</figi>
    <value>20573286</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1915576</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1915576</Sole>
      <Shared>1915576</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Airlines Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>02376R102</cusip>
    <figi>BBG005P7Q881</figi>
    <value>788316</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>73400</Sole>
      <Shared>73400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Airlines Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>02376R102</cusip>
    <figi>BBG005P7Q881</figi>
    <value>4583832</value>
    <shrsOrPrnAmt>
      <sshPrnamt>426800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>426800</Sole>
      <Shared>426800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Coastal Insurance Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>910710102</cusip>
    <figi>BBG000TKFJQ7</figi>
    <value>2431755</value>
    <shrsOrPrnAmt>
      <sshPrnamt>216156</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>216156</Sole>
      <Shared>216156</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Eagle Outfitters Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>02553E106</cusip>
    <figi>BBG000BGXZB5</figi>
    <value>21604489</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1293682</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1293682</Sole>
      <Shared>1293682</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Eagle Outfitters Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>02553E106</cusip>
    <figi>BBG000BGXZB5</figi>
    <value>424180</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25400</Sole>
      <Shared>25400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Electric Power Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>025537101</cusip>
    <figi>BBG000BB9KF2</figi>
    <value>3342540</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25500</Sole>
      <Shared>25500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Electric Power Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>025537101</cusip>
    <figi>BBG000BB9KF2</figi>
    <value>3866860</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29500</Sole>
      <Shared>29500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Express Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>025816109</cusip>
    <figi>BBG000BCQZS4</figi>
    <value>3244400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10726</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10726</Sole>
      <Shared>10726</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Express Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>025816109</cusip>
    <figi>BBG000BCQZS4</figi>
    <value>13551104</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44800</Sole>
      <Shared>44800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Express Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>025816109</cusip>
    <figi>BBG000BCQZS4</figi>
    <value>39564384</value>
    <shrsOrPrnAmt>
      <sshPrnamt>130800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>130800</Sole>
      <Shared>130800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Financial Group Inc/Oh - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>025932104</cusip>
    <figi>BBG000DPKKK0</figi>
    <value>1124359</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8804</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8804</Sole>
      <Shared>8804</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Homes 4 Rent - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>02665T306</cusip>
    <figi>BBG003NXJNH6</figi>
    <value>28126413</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1007393</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1007393</Sole>
      <Shared>1007393</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American International Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>026874784</cusip>
    <figi>BBG000BBDZG3</figi>
    <value>38046551</value>
    <shrsOrPrnAmt>
      <sshPrnamt>505602</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>505602</Sole>
      <Shared>505602</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American International Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>026874784</cusip>
    <figi>BBG000BBDZG3</figi>
    <value>255850</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3400</Sole>
      <Shared>3400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American International Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>026874784</cusip>
    <figi>BBG000BBDZG3</figi>
    <value>1346975</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17900</Sole>
      <Shared>17900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Public Education Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>02913V103</cusip>
    <figi>BBG000RVD346</figi>
    <value>1798375</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31617</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31617</Sole>
      <Shared>31617</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American States Water Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>029899101</cusip>
    <figi>BBG000F964B6</figi>
    <value>1148290</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15185</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15185</Sole>
      <Shared>15185</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Superconductor Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>030111207</cusip>
    <figi>BBG000CP3D44</figi>
    <value>741315</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21900</Sole>
      <Shared>21900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Superconductor Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>030111207</cusip>
    <figi>BBG000CP3D44</figi>
    <value>216640</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6400</Sole>
      <Shared>6400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Tower Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03027X100</cusip>
    <figi>BBG000B9XYV2</figi>
    <value>18134361</value>
    <shrsOrPrnAmt>
      <sshPrnamt>105078</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>105078</Sole>
      <Shared>105078</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Tower Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03027X100</cusip>
    <figi>BBG000B9XYV2</figi>
    <value>931932</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5400</Sole>
      <Shared>5400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Tower Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03027X100</cusip>
    <figi>BBG000B9XYV2</figi>
    <value>9250288</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>53600</Sole>
      <Shared>53600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Vanguard Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>030371108</cusip>
    <figi>BBG000DPXVW9</figi>
    <value>501384</value>
    <shrsOrPrnAmt>
      <sshPrnamt>201359</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>201359</Sole>
      <Shared>201359</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Water Works Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>030420103</cusip>
    <figi>BBG000TRJ294</figi>
    <value>489924</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3600</Sole>
      <Shared>3600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>American Water Works Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>030420103</cusip>
    <figi>BBG000TRJ294</figi>
    <value>1496990</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11000</Sole>
      <Shared>11000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>America's Car-Mart Inc/Tx - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03062T105</cusip>
    <figi>BBG000CM6L31</figi>
    <value>792366</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62244</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>62244</Sole>
      <Shared>62244</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Americas Gold &amp; Silver Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03062D803</cusip>
    <figi>BBG000CG1PT2</figi>
    <value>130500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25000</Sole>
      <Shared>25000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ameriprise Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03076C106</cusip>
    <figi>BBG000G3QLY3</figi>
    <value>19621149</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44152</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44152</Sole>
      <Shared>44152</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ametek Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>031100100</cusip>
    <figi>BBG000B9XG87</figi>
    <value>21494735</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100274</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100274</Sole>
      <Shared>100274</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ametek Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>031100100</cusip>
    <figi>BBG000B9XG87</figi>
    <value>514464</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2400</Sole>
      <Shared>2400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amgen Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>031162100</cusip>
    <figi>BBG000BBS2Y0</figi>
    <value>8268475</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23500</Sole>
      <Shared>23500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amgen Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>031162100</cusip>
    <figi>BBG000BBS2Y0</figi>
    <value>2111100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6000</Sole>
      <Shared>6000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amicus Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03152W109</cusip>
    <figi>BBG000PLF6N0</figi>
    <value>13014000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>900000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>900000</Sole>
      <Shared>900000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amicus Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03152W109</cusip>
    <figi>BBG000PLF6N0</figi>
    <value>542250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37500</Sole>
      <Shared>37500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amkor Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>031652100</cusip>
    <figi>BBG000BCKGW7</figi>
    <value>13548176</value>
    <shrsOrPrnAmt>
      <sshPrnamt>300870</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>300870</Sole>
      <Shared>300870</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amkor Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>031652100</cusip>
    <figi>BBG000BCKGW7</figi>
    <value>923115</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20500</Sole>
      <Shared>20500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amkor Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>031652100</cusip>
    <figi>BBG000BCKGW7</figi>
    <value>661941</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14700</Sole>
      <Shared>14700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amn Healthcare Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>001744101</cusip>
    <figi>BBG000BCT197</figi>
    <value>2660896</value>
    <shrsOrPrnAmt>
      <sshPrnamt>145087</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>145087</Sole>
      <Shared>145087</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amphenol Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>032095101</cusip>
    <figi>BBG000B9YJ35</figi>
    <value>77575110</value>
    <shrsOrPrnAmt>
      <sshPrnamt>613970</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>613970</Sole>
      <Shared>613970</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amphenol Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>032095101</cusip>
    <figi>BBG000B9YJ35</figi>
    <value>15730575</value>
    <shrsOrPrnAmt>
      <sshPrnamt>124500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>124500</Sole>
      <Shared>124500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amphenol Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>032095101</cusip>
    <figi>BBG000B9YJ35</figi>
    <value>11813725</value>
    <shrsOrPrnAmt>
      <sshPrnamt>93500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>93500</Sole>
      <Shared>93500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amprius Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03214Q108</cusip>
    <figi>BBG019MBDC63</figi>
    <value>7075484</value>
    <shrsOrPrnAmt>
      <sshPrnamt>419661</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>419661</Sole>
      <Shared>419661</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amprius Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03214Q108</cusip>
    <figi>BBG019MBDC63</figi>
    <value>434988</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25800</Sole>
      <Shared>25800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amprius Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03214Q108</cusip>
    <figi>BBG019MBDC63</figi>
    <value>512544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30400</Sole>
      <Shared>30400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amrize Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H2927K103</cusip>
    <figi>BBG01T2JZXN5</figi>
    <value>224080</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4000</Sole>
      <Shared>4000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amrize Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H2927K103</cusip>
    <figi>BBG01T2JZXN5</figi>
    <value>896320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16000</Sole>
      <Shared>16000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Amylyx Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03237H101</cusip>
    <figi>BBG00DP10YT5</figi>
    <value>435543</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31334</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31334</Sole>
      <Shared>31334</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Analog Devices Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>032654105</cusip>
    <figi>BBG000BB6G37</figi>
    <value>1463444</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4600</Sole>
      <Shared>4600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Analog Devices Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>032654105</cusip>
    <figi>BBG000BB6G37</figi>
    <value>21347194</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>67100</Sole>
      <Shared>67100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Anaptysbio Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>032724106</cusip>
    <figi>BBG0026ZDHR0</figi>
    <value>275193</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4962</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4962</Sole>
      <Shared>4962</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Anavex Life Sciences Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>032797300</cusip>
    <figi>BBG000C9K8K4</figi>
    <value>131114</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42708</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42708</Sole>
      <Shared>42708</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Angel Studios Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>034948109</cusip>
    <figi>BBG013SVSHG8</figi>
    <value>373235</value>
    <shrsOrPrnAmt>
      <sshPrnamt>122372</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>122372</Sole>
      <Shared>122372</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Angiodynamics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03475V101</cusip>
    <figi>BBG000BB5621</figi>
    <value>526590</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46314</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46314</Sole>
      <Shared>46314</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Anglogold Ashanti Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G0378L100</cusip>
    <figi>BBG01HGVLP51</figi>
    <value>885976</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9100</Sole>
      <Shared>9100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Anglogold Ashanti Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G0378L100</cusip>
    <figi>BBG01HGVLP51</figi>
    <value>3057104</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31400</Sole>
      <Shared>31400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Anheuser-Busch Inbev Sa/Nv - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>03524A108</cusip>
    <figi>BBG000RYC984</figi>
    <value>17621021</value>
    <shrsOrPrnAmt>
      <sshPrnamt>254015</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>254015</Sole>
      <Shared>254015</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Anheuser-Busch Inbev Sa/Nv - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03524A108</cusip>
    <figi>BBG000RYC984</figi>
    <value>221984</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3200</Sole>
      <Shared>3200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Anheuser-Busch Inbev Sa/Nv - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03524A108</cusip>
    <figi>BBG000RYC984</figi>
    <value>3648862</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52600</Sole>
      <Shared>52600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Annaly Capital Management Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>035710839</cusip>
    <figi>BBG000BJFJ98</figi>
    <value>1304955</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>61700</Sole>
      <Shared>61700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Antero Midstream Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03676B102</cusip>
    <figi>BBG00GBNZ4M0</figi>
    <value>300960</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13200</Sole>
      <Shared>13200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Antero Resources Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03674X106</cusip>
    <figi>BBG000PW5VX1</figi>
    <value>15023336</value>
    <shrsOrPrnAmt>
      <sshPrnamt>353990</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>353990</Sole>
      <Shared>353990</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Antero Resources Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03674X106</cusip>
    <figi>BBG000PW5VX1</figi>
    <value>844556</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19900</Sole>
      <Shared>19900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Antero Resources Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03674X106</cusip>
    <figi>BBG000PW5VX1</figi>
    <value>4142144</value>
    <shrsOrPrnAmt>
      <sshPrnamt>97600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>97600</Sole>
      <Shared>97600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aon Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G0403H108</cusip>
    <figi>BBG00SSQFPK6</figi>
    <value>19689580</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>61000</Sole>
      <Shared>61000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aon Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G0403H108</cusip>
    <figi>BBG00SSQFPK6</figi>
    <value>516448</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1600</Sole>
      <Shared>1600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Apa Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03743Q108</cusip>
    <figi>BBG00YTS96G2</figi>
    <value>3607400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>85000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>85000</Sole>
      <Shared>85000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Apa Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03743Q108</cusip>
    <figi>BBG00YTS96G2</figi>
    <value>3068412</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>72300</Sole>
      <Shared>72300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Apartment Investment And Management Co - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03748R747</cusip>
    <figi>BBG000DD3510</figi>
    <value>1857316</value>
    <shrsOrPrnAmt>
      <sshPrnamt>456343</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>456343</Sole>
      <Shared>456343</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Apellis Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03753U106</cusip>
    <figi>BBG007KGRPY4</figi>
    <value>26149500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>650000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>650000</Sole>
      <Shared>650000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Apogee Enterprises Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>037598109</cusip>
    <figi>BBG000BC6L61</figi>
    <value>717186</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21383</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21383</Sole>
      <Shared>21383</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Apollo Global Management Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03769M106</cusip>
    <figi>BBG00ZNLTFK3</figi>
    <value>4590504</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41200</Sole>
      <Shared>41200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Apollo Global Management Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03769M106</cusip>
    <figi>BBG00ZNLTFK3</figi>
    <value>19108530</value>
    <shrsOrPrnAmt>
      <sshPrnamt>171500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>171500</Sole>
      <Shared>171500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Appian Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03782L101</cusip>
    <figi>BBG001C7PMJ2</figi>
    <value>233867</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9700</Sole>
      <Shared>9700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Apple Hospitality Reit Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03784Y200</cusip>
    <figi>BBG006473QX9</figi>
    <value>1487564</value>
    <shrsOrPrnAmt>
      <sshPrnamt>129241</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>129241</Sole>
      <Shared>129241</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Apple Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>037833100</cusip>
    <figi>BBG000B9XRY4</figi>
    <value>203420045</value>
    <shrsOrPrnAmt>
      <sshPrnamt>801529</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>801529</Sole>
      <Shared>801529</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Apple Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>037833100</cusip>
    <figi>BBG000B9XRY4</figi>
    <value>91846601</value>
    <shrsOrPrnAmt>
      <sshPrnamt>361900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>361900</Sole>
      <Shared>361900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Apple Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>037833100</cusip>
    <figi>BBG000B9XRY4</figi>
    <value>138340929</value>
    <shrsOrPrnAmt>
      <sshPrnamt>545100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>545100</Sole>
      <Shared>545100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Applied Digital Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>038169207</cusip>
    <figi>BBG000DSJYS8</figi>
    <value>2594307</value>
    <shrsOrPrnAmt>
      <sshPrnamt>109280</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>109280</Sole>
      <Shared>109280</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Applied Digital Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>038169207</cusip>
    <figi>BBG000DSJYS8</figi>
    <value>4762244</value>
    <shrsOrPrnAmt>
      <sshPrnamt>200600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>200600</Sole>
      <Shared>200600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Applied Digital Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>038169207</cusip>
    <figi>BBG000DSJYS8</figi>
    <value>584004</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24600</Sole>
      <Shared>24600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Applied Industrial Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03820C105</cusip>
    <figi>BBG000BBHHP9</figi>
    <value>17017094</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64138</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>64138</Sole>
      <Shared>64138</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Applied Materials Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>038222105</cusip>
    <figi>BBG000BBPFB9</figi>
    <value>89690139</value>
    <shrsOrPrnAmt>
      <sshPrnamt>262413</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>262413</Sole>
      <Shared>262413</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Applied Materials Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>038222105</cusip>
    <figi>BBG000BBPFB9</figi>
    <value>7416843</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21700</Sole>
      <Shared>21700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Applied Materials Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>038222105</cusip>
    <figi>BBG000BBPFB9</figi>
    <value>72356943</value>
    <shrsOrPrnAmt>
      <sshPrnamt>211700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>211700</Sole>
      <Shared>211700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Applied Optoelectronics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03823U102</cusip>
    <figi>BBG000D6VW15</figi>
    <value>37454845</value>
    <shrsOrPrnAmt>
      <sshPrnamt>442781</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>442781</Sole>
      <Shared>442781</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Applied Optoelectronics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03823U102</cusip>
    <figi>BBG000D6VW15</figi>
    <value>3062158</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36200</Sole>
      <Shared>36200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Applied Optoelectronics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03823U102</cusip>
    <figi>BBG000D6VW15</figi>
    <value>3730419</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44100</Sole>
      <Shared>44100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Applovin Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03831W108</cusip>
    <figi>BBG006HFPX77</figi>
    <value>7263898</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18251</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18251</Sole>
      <Shared>18251</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Applovin Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03831W108</cusip>
    <figi>BBG006HFPX77</figi>
    <value>14129000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35500</Sole>
      <Shared>35500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Applovin Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03831W108</cusip>
    <figi>BBG006HFPX77</figi>
    <value>17034400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42800</Sole>
      <Shared>42800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aptiv Holdings Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G3265R107</cusip>
    <figi>BBG01R914LT5</figi>
    <value>416918</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6004</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6004</Sole>
      <Shared>6004</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arbe Robotics Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M1R95N100</cusip>
    <figi>BBG00J4WCTK4</figi>
    <value>249185</value>
    <shrsOrPrnAmt>
      <sshPrnamt>408500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>408500</Sole>
      <Shared>408500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arbor Realty Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>038923108</cusip>
    <figi>BBG000KMVDV1</figi>
    <value>4054897</value>
    <shrsOrPrnAmt>
      <sshPrnamt>525927</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>525927</Sole>
      <Shared>525927</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arcellx Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03940C100</cusip>
    <figi>BBG00QHJM4S9</figi>
    <value>53114354</value>
    <shrsOrPrnAmt>
      <sshPrnamt>462588</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>462588</Sole>
      <Shared>462588</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arcellx Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03940C100</cusip>
    <figi>BBG00QHJM4S9</figi>
    <value>298532</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2600</Sole>
      <Shared>2600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arcellx Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03940C100</cusip>
    <figi>BBG00QHJM4S9</figi>
    <value>229640</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2000</Sole>
      <Shared>2000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arcelormittal Sa - US NY Reg Shrs</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>03938L203</cusip>
    <figi>BBG000BJH5W0</figi>
    <value>1752402</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33713</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33713</Sole>
      <Shared>33713</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arcelormittal Sa - US NY Reg Shrs</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03938L203</cusip>
    <figi>BBG000BJH5W0</figi>
    <value>1237124</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23800</Sole>
      <Shared>23800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arch Capital Group Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G0450A105</cusip>
    <figi>BBG000HXNN20</figi>
    <value>7515441</value>
    <shrsOrPrnAmt>
      <sshPrnamt>78294</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>78294</Sole>
      <Shared>78294</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Archer Aviation Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03945R102</cusip>
    <figi>BBG00XRTC910</figi>
    <value>773949</value>
    <shrsOrPrnAmt>
      <sshPrnamt>149700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>149700</Sole>
      <Shared>149700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Archer-Daniels-Midland Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>039483102</cusip>
    <figi>BBG000BB6WG8</figi>
    <value>2311542</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31800</Sole>
      <Shared>31800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Archimedes Tech SPAC Partners III Co - US Unit</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G0453R121</cusip>
    <figi>BBG01Z8CRTR4</figi>
    <value>6500000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>650000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>650000</Sole>
      <Shared>650000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Archrock Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03957W106</cusip>
    <figi>BBG000RWH1V4</figi>
    <value>25406401</value>
    <shrsOrPrnAmt>
      <sshPrnamt>730069</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>730069</Sole>
      <Shared>730069</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arcos Dorados Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G0457F107</cusip>
    <figi>BBG001LR99L2</figi>
    <value>161816</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19614</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19614</Sole>
      <Shared>19614</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arcus Biosciences Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03969F109</cusip>
    <figi>BBG00DQD26W3</figi>
    <value>4672318</value>
    <shrsOrPrnAmt>
      <sshPrnamt>216311</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>216311</Sole>
      <Shared>216311</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ardagh Metal Packaging Sa - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>L02235106</cusip>
    <figi>BBG00ZF0FGT2</figi>
    <value>2536746</value>
    <shrsOrPrnAmt>
      <sshPrnamt>626357</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>626357</Sole>
      <Shared>626357</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ardelyx Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>039697107</cusip>
    <figi>BBG001WH4DQ3</figi>
    <value>607254</value>
    <shrsOrPrnAmt>
      <sshPrnamt>101378</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>101378</Sole>
      <Shared>101378</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ardelyx Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>039697107</cusip>
    <figi>BBG001WH4DQ3</figi>
    <value>82662</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13800</Sole>
      <Shared>13800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ardmore Shipping Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>Y0207T100</cusip>
    <figi>BBG004SCC0R1</figi>
    <value>4633331</value>
    <shrsOrPrnAmt>
      <sshPrnamt>303825</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>303825</Sole>
      <Shared>303825</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ares Capital Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>04010L103</cusip>
    <figi>BBG000PD6X77</figi>
    <value>574838</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31900</Sole>
      <Shared>31900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ares Management Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03990B101</cusip>
    <figi>BBG0068KVV91</figi>
    <value>10572008</value>
    <shrsOrPrnAmt>
      <sshPrnamt>96902</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>96902</Sole>
      <Shared>96902</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ares Management Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03990B101</cusip>
    <figi>BBG0068KVV91</figi>
    <value>2007440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18400</Sole>
      <Shared>18400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ares Management Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03990B101</cusip>
    <figi>BBG0068KVV91</figi>
    <value>7833380</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>71800</Sole>
      <Shared>71800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Argan Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>04010E109</cusip>
    <figi>BBG000K4J3T0</figi>
    <value>490185</value>
    <shrsOrPrnAmt>
      <sshPrnamt>900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>900</Sole>
      <Shared>900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Argan Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>04010E109</cusip>
    <figi>BBG000K4J3T0</figi>
    <value>217860</value>
    <shrsOrPrnAmt>
      <sshPrnamt>400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>400</Sole>
      <Shared>400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arhaus Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>04035M102</cusip>
    <figi>BBG012TKHZ11</figi>
    <value>3590919</value>
    <shrsOrPrnAmt>
      <sshPrnamt>529634</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>529634</Sole>
      <Shared>529634</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aris Mining Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>04040Y109</cusip>
    <figi>BBG000K0VQL1</figi>
    <value>7270656</value>
    <shrsOrPrnAmt>
      <sshPrnamt>391527</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>391527</Sole>
      <Shared>391527</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arista Networks Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>040413205</cusip>
    <figi>BBG000N2HDY5</figi>
    <value>1488953</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12127</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12127</Sole>
      <Shared>12127</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arista Networks Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>040413205</cusip>
    <figi>BBG000N2HDY5</figi>
    <value>663012</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5400</Sole>
      <Shared>5400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arista Networks Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>040413205</cusip>
    <figi>BBG000N2HDY5</figi>
    <value>9097998</value>
    <shrsOrPrnAmt>
      <sshPrnamt>74100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>74100</Sole>
      <Shared>74100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ark Innovation Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>00214Q104</cusip>
    <figi>BBG007FJMV58</figi>
    <value>6759000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100000</Sole>
      <Shared>100000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arko Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>041242108</cusip>
    <figi>BBG00YD8K411</figi>
    <value>600046</value>
    <shrsOrPrnAmt>
      <sshPrnamt>107922</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>107922</Sole>
      <Shared>107922</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arlo Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>04206A101</cusip>
    <figi>BBG00K88DTH3</figi>
    <value>2897299</value>
    <shrsOrPrnAmt>
      <sshPrnamt>203605</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>203605</Sole>
      <Shared>203605</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ARM Holdings PLC - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>042068205</cusip>
    <figi>BBG01J1GXZF0</figi>
    <value>32056232</value>
    <shrsOrPrnAmt>
      <sshPrnamt>211900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>211900</Sole>
      <Shared>211900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ARM Holdings PLC - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>042068205</cusip>
    <figi>BBG01J1GXZF0</figi>
    <value>33538776</value>
    <shrsOrPrnAmt>
      <sshPrnamt>221700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>221700</Sole>
      <Shared>221700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Armstrong World Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>04247X102</cusip>
    <figi>BBG000DW4LB1</figi>
    <value>35017528</value>
    <shrsOrPrnAmt>
      <sshPrnamt>212485</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>212485</Sole>
      <Shared>212485</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arqit Quantum Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G0567U127</cusip>
    <figi>BBG0110RF7C1</figi>
    <value>504414</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38069</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38069</Sole>
      <Shared>38069</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Array Digital Infrastructure Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>911684108</cusip>
    <figi>BBG000BW6P59</figi>
    <value>1153500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25000</Sole>
      <Shared>25000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Array Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>04271T100</cusip>
    <figi>BBG001V4SF46</figi>
    <value>7764586</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1073940</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1073940</Sole>
      <Shared>1073940</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ArriVent Biopharma Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>04272N102</cusip>
    <figi>BBG011N37VQ0</figi>
    <value>509870</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22101</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22101</Sole>
      <Shared>22101</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arrowhead Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>04280A100</cusip>
    <figi>BBG000BRVKH0</figi>
    <value>200640</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3200</Sole>
      <Shared>3200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arrowhead Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>04280A100</cusip>
    <figi>BBG000BRVKH0</figi>
    <value>407550</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6500</Sole>
      <Shared>6500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arteris Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>04302A104</cusip>
    <figi>BBG000QMLTK3</figi>
    <value>1703036</value>
    <shrsOrPrnAmt>
      <sshPrnamt>103591</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>103591</Sole>
      <Shared>103591</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arthur J Gallagher &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>363576109</cusip>
    <figi>BBG000BBHXQ3</figi>
    <value>844662</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3900</Sole>
      <Shared>3900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arthur J Gallagher &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>363576109</cusip>
    <figi>BBG000BBHXQ3</figi>
    <value>1602692</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7400</Sole>
      <Shared>7400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Artisan Partners Asset Management Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>04316A108</cusip>
    <figi>BBG001M6CZY1</figi>
    <value>12903712</value>
    <shrsOrPrnAmt>
      <sshPrnamt>354595</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>354595</Sole>
      <Shared>354595</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Arvinas Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>04335A105</cusip>
    <figi>BBG00LW7YK82</figi>
    <value>363559</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34298</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34298</Sole>
      <Shared>34298</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Asana Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>04342Y104</cusip>
    <figi>BBG00WYHL732</figi>
    <value>81280</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12700</Sole>
      <Shared>12700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Asbury Automotive Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>043436104</cusip>
    <figi>BBG000BKDWB5</figi>
    <value>15203875</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77805</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>77805</Sole>
      <Shared>77805</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ascendis Pharma A/S - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>K08588103</cusip>
    <figi>BBG007R7VNC1</figi>
    <value>7799693</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34100</Sole>
      <Shared>34100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ascendis Pharma A/S - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>K08588103</cusip>
    <figi>BBG007R7VNC1</figi>
    <value>1029285</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4500</Sole>
      <Shared>4500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ase Technology Holding Co Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00215W100</cusip>
    <figi>BBG00KLHL9W6</figi>
    <value>860696</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39700</Sole>
      <Shared>39700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Asml Holding Nv - US NY Reg Shrs</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>N07059210</cusip>
    <figi>BBG000K6MRN4</figi>
    <value>10879677</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8237</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8237</Sole>
      <Shared>8237</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Asml Holding Nv - US NY Reg Shrs</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N07059210</cusip>
    <figi>BBG000K6MRN4</figi>
    <value>2509577</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1900</Sole>
      <Shared>1900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Asml Holding Nv - US NY Reg Shrs</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N07059210</cusip>
    <figi>BBG000K6MRN4</figi>
    <value>42134477</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31900</Sole>
      <Shared>31900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ASP Isotopes Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00218A105</cusip>
    <figi>BBG013Y062J3</figi>
    <value>711753</value>
    <shrsOrPrnAmt>
      <sshPrnamt>161030</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>161030</Sole>
      <Shared>161030</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aspen Aerogels Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>04523Y105</cusip>
    <figi>BBG001S58GW6</figi>
    <value>516738</value>
    <shrsOrPrnAmt>
      <sshPrnamt>151093</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>151093</Sole>
      <Shared>151093</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Associated Banc-Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>045487105</cusip>
    <figi>BBG000BCFQC3</figi>
    <value>19790865</value>
    <shrsOrPrnAmt>
      <sshPrnamt>765308</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>765308</Sole>
      <Shared>765308</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Assurant Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>04621X108</cusip>
    <figi>BBG000BZX1N5</figi>
    <value>6023318</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27654</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27654</Sole>
      <Shared>27654</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Assured Guaranty Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G0585R106</cusip>
    <figi>BBG000CQB185</figi>
    <value>2465829</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30263</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30263</Sole>
      <Shared>30263</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ast Spacemobile Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00217D100</cusip>
    <figi>BBG00Q402TR2</figi>
    <value>13646037</value>
    <shrsOrPrnAmt>
      <sshPrnamt>164668</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>164668</Sole>
      <Shared>164668</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ast Spacemobile Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00217D100</cusip>
    <figi>BBG00Q402TR2</figi>
    <value>4284379</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51700</Sole>
      <Shared>51700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ast Spacemobile Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00217D100</cusip>
    <figi>BBG00Q402TR2</figi>
    <value>7715197</value>
    <shrsOrPrnAmt>
      <sshPrnamt>93100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>93100</Sole>
      <Shared>93100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Astec Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>046224101</cusip>
    <figi>BBG000BCHZL1</figi>
    <value>8221045</value>
    <shrsOrPrnAmt>
      <sshPrnamt>152694</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>152694</Sole>
      <Shared>152694</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Astera Labs Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>04626A103</cusip>
    <figi>BBG00TDKHW99</figi>
    <value>4093122</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37346</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37346</Sole>
      <Shared>37346</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Astera Labs Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>04626A103</cusip>
    <figi>BBG00TDKHW99</figi>
    <value>2170080</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19800</Sole>
      <Shared>19800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Astera Labs Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>04626A103</cusip>
    <figi>BBG00TDKHW99</figi>
    <value>7025360</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>64100</Sole>
      <Shared>64100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Astrazeneca Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G0593M107</cusip>
    <figi>BBG000D3MHB4</figi>
    <value>848046</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4300</Sole>
      <Shared>4300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Astrazeneca Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G0593M107</cusip>
    <figi>BBG000D3MHB4</figi>
    <value>2524416</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12800</Sole>
      <Shared>12800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Astronics Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>046433108</cusip>
    <figi>BBG000BCLBY5</figi>
    <value>3934801</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58966</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58966</Sole>
      <Shared>58966</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>At&amp;T Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00206R102</cusip>
    <figi>BBG000BSJK37</figi>
    <value>33512440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1156000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1156000</Sole>
      <Shared>1156000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>At&amp;T Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00206R102</cusip>
    <figi>BBG000BSJK37</figi>
    <value>336284</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11600</Sole>
      <Shared>11600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>At&amp;T Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00206R102</cusip>
    <figi>BBG000BSJK37</figi>
    <value>25519897</value>
    <shrsOrPrnAmt>
      <sshPrnamt>880300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>880300</Sole>
      <Shared>880300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ATI Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>01741R102</cusip>
    <figi>BBG000LC1FS4</figi>
    <value>12936485</value>
    <shrsOrPrnAmt>
      <sshPrnamt>88935</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>88935</Sole>
      <Shared>88935</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ATI Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>01741R102</cusip>
    <figi>BBG000LC1FS4</figi>
    <value>3738322</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25700</Sole>
      <Shared>25700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ATI Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>01741R102</cusip>
    <figi>BBG000LC1FS4</figi>
    <value>2647372</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18200</Sole>
      <Shared>18200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Atlanta Braves Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>047726302</cusip>
    <figi>BBG01HCX3Y34</figi>
    <value>21752875</value>
    <shrsOrPrnAmt>
      <sshPrnamt>509435</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>509435</Sole>
      <Shared>509435</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Atlassian Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>049468101</cusip>
    <figi>BBG01BGWHFR5</figi>
    <value>398785</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5843</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5843</Sole>
      <Shared>5843</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Atlassian Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>049468101</cusip>
    <figi>BBG01BGWHFR5</figi>
    <value>17417400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>255200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>255200</Sole>
      <Shared>255200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Atlassian Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>049468101</cusip>
    <figi>BBG01BGWHFR5</figi>
    <value>18939375</value>
    <shrsOrPrnAmt>
      <sshPrnamt>277500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>277500</Sole>
      <Shared>277500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Atmos Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>049560105</cusip>
    <figi>BBG000BRNGM2</figi>
    <value>8679808</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46989</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46989</Sole>
      <Shared>46989</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Atrium Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>04965N104</cusip>
    <figi>BBG01Z0T3959</figi>
    <value>954070</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71359</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>71359</Sole>
      <Shared>71359</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aura Minerals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G06973112</cusip>
    <figi>BBG000QCHWC2</figi>
    <value>1364678</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16724</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16724</Sole>
      <Shared>16724</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aurinia Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>05156V102</cusip>
    <figi>BBG000BCRJM5</figi>
    <value>764238</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51568</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51568</Sole>
      <Shared>51568</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aurinia Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>05156V102</cusip>
    <figi>BBG000BCRJM5</figi>
    <value>351234</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23700</Sole>
      <Shared>23700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aurinia Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>05156V102</cusip>
    <figi>BBG000BCRJM5</figi>
    <value>345306</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23300</Sole>
      <Shared>23300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Autodesk Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>052769106</cusip>
    <figi>BBG000BM7HL0</figi>
    <value>670320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2800</Sole>
      <Shared>2800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Autodesk Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>052769106</cusip>
    <figi>BBG000BM7HL0</figi>
    <value>2034900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8500</Sole>
      <Shared>8500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Autoliv Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>052800109</cusip>
    <figi>BBG000BVLRY8</figi>
    <value>13082219</value>
    <shrsOrPrnAmt>
      <sshPrnamt>124403</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>124403</Sole>
      <Shared>124403</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Autolus Therapeutics Plc - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>05280R100</cusip>
    <figi>BBG00KVT05R6</figi>
    <value>63774</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46213</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46213</Sole>
      <Shared>46213</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Automatic Data Processing Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>053015103</cusip>
    <figi>BBG000JG0547</figi>
    <value>34222014</value>
    <shrsOrPrnAmt>
      <sshPrnamt>168432</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>168432</Sole>
      <Shared>168432</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Automatic Data Processing Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>053015103</cusip>
    <figi>BBG000JG0547</figi>
    <value>1300352</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6400</Sole>
      <Shared>6400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Automatic Data Processing Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>053015103</cusip>
    <figi>BBG000JG0547</figi>
    <value>7598932</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37400</Sole>
      <Shared>37400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Autozone Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>053332102</cusip>
    <figi>BBG000C7LMS8</figi>
    <value>9576006</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2835</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2835</Sole>
      <Shared>2835</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Avalonbay Communities Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>053484101</cusip>
    <figi>BBG000BLPBL5</figi>
    <value>15734199</value>
    <shrsOrPrnAmt>
      <sshPrnamt>96322</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>96322</Sole>
      <Shared>96322</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Avalonbay Communities Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>053484101</cusip>
    <figi>BBG000BLPBL5</figi>
    <value>245025</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1500</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Avalonbay Communities Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>053484101</cusip>
    <figi>BBG000BLPBL5</figi>
    <value>620730</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3800</Sole>
      <Shared>3800</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>Avantis Emerging Markets Equity ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>025072604</cusip>
    <figi>BBG00Q6ZDX29</figi>
    <value>988958</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12273</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12273</Sole>
      <Shared>12273</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Avantis US Equity ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>025072885</cusip>
    <figi>BBG00Q9MPPR2</figi>
    <value>1323598</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11905</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11905</Sole>
      <Shared>11905</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Avantis US Large Cap Value ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>025072349</cusip>
    <figi>BBG012NL45J6</figi>
    <value>15083340</value>
    <shrsOrPrnAmt>
      <sshPrnamt>187115</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>187115</Sole>
      <Shared>187115</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Avantor Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>05352A100</cusip>
    <figi>BBG00G2HHYD7</figi>
    <value>18380386</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2344437</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2344437</Sole>
      <Shared>2344437</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Aveanna Healthcare Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>05356F105</cusip>
    <figi>BBG00G6D6H96</figi>
    <value>1332893</value>
    <shrsOrPrnAmt>
      <sshPrnamt>206971</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>206971</Sole>
      <Shared>206971</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Avient Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>05368V106</cusip>
    <figi>BBG000C8NJ10</figi>
    <value>2276300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62708</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>62708</Sole>
      <Shared>62708</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Avino Silver &amp; Gold Mines Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>053906103</cusip>
    <figi>BBG000BMTLV6</figi>
    <value>113040</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17886</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17886</Sole>
      <Shared>17886</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Avis Budget Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>053774105</cusip>
    <figi>BBG000FLPRH1</figi>
    <value>1589765</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10900</Sole>
      <Shared>10900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Avista Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>05379B107</cusip>
    <figi>BBG000BCNF74</figi>
    <value>5606635</value>
    <shrsOrPrnAmt>
      <sshPrnamt>139677</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>139677</Sole>
      <Shared>139677</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Avnet Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>053807103</cusip>
    <figi>BBG000BCPB71</figi>
    <value>2156454</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34996</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34996</Sole>
      <Shared>34996</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Axalta Coating Systems Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G0750C108</cusip>
    <figi>BBG0060CPLJ5</figi>
    <value>5073421</value>
    <shrsOrPrnAmt>
      <sshPrnamt>183156</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>183156</Sole>
      <Shared>183156</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Axia Energia Sa - ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>15234Q207</cusip>
    <figi>BBG000BL5Q89</figi>
    <value>136950</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12141</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12141</Sole>
      <Shared>12141</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Axiom Intelligence Acquisition Corp 1 - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G0750N104</cusip>
    <figi>BBG01WGCLSV5</figi>
    <value>1025197</value>
    <shrsOrPrnAmt>
      <sshPrnamt>101204</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>101204</Sole>
      <Shared>101204</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Axis Capital Holdings Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G0692U109</cusip>
    <figi>BBG000FLF615</figi>
    <value>273807</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2700</Sole>
      <Shared>2700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Axon Enterprise Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>05464C101</cusip>
    <figi>BBG000BHJWG1</figi>
    <value>1698760</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4000</Sole>
      <Shared>4000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Axon Enterprise Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>05464C101</cusip>
    <figi>BBG000BHJWG1</figi>
    <value>976787</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2300</Sole>
      <Shared>2300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Axon Enterprise Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>05464C101</cusip>
    <figi>BBG000BHJWG1</figi>
    <value>2675547</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6300</Sole>
      <Shared>6300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Axt Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00246W103</cusip>
    <figi>BBG000BHZ0N5</figi>
    <value>3549854</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>62300</Sole>
      <Shared>62300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Axt Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00246W103</cusip>
    <figi>BBG000BHZ0N5</figi>
    <value>2387462</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41900</Sole>
      <Shared>41900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Azenta Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>114340102</cusip>
    <figi>BBG000DX9JV7</figi>
    <value>380319</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17999</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17999</Sole>
      <Shared>17999</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Azz Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>002474104</cusip>
    <figi>BBG000F83JZ2</figi>
    <value>12027871</value>
    <shrsOrPrnAmt>
      <sshPrnamt>96123</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>96123</Sole>
      <Shared>96123</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>B&amp;G Foods Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>05508R106</cusip>
    <figi>BBG000RKXRQ1</figi>
    <value>1058354</value>
    <shrsOrPrnAmt>
      <sshPrnamt>220032</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>220032</Sole>
      <Shared>220032</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>B2Gold Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>11777Q209</cusip>
    <figi>BBG000V9KFD5</figi>
    <value>5975102</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1319007</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1319007</Sole>
      <Shared>1319007</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>B2Gold Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>11777Q209</cusip>
    <figi>BBG000V9KFD5</figi>
    <value>1085841</value>
    <shrsOrPrnAmt>
      <sshPrnamt>239700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>239700</Sole>
      <Shared>239700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Backblaze Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>05637B105</cusip>
    <figi>BBG0037X6HX3</figi>
    <value>763758</value>
    <shrsOrPrnAmt>
      <sshPrnamt>221379</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>221379</Sole>
      <Shared>221379</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Badger Meter Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>056525108</cusip>
    <figi>BBG000BDGHD9</figi>
    <value>16738390</value>
    <shrsOrPrnAmt>
      <sshPrnamt>109868</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>109868</Sole>
      <Shared>109868</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Badger Meter Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>056525108</cusip>
    <figi>BBG000BDGHD9</figi>
    <value>4357210</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28600</Sole>
      <Shared>28600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Baidu Inc - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>056752108</cusip>
    <figi>BBG000QXWHD1</figi>
    <value>17665084</value>
    <shrsOrPrnAmt>
      <sshPrnamt>158545</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>158545</Sole>
      <Shared>158545</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Baidu Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>056752108</cusip>
    <figi>BBG000QXWHD1</figi>
    <value>14830002</value>
    <shrsOrPrnAmt>
      <sshPrnamt>133100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>133100</Sole>
      <Shared>133100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Baidu Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>056752108</cusip>
    <figi>BBG000QXWHD1</figi>
    <value>29838276</value>
    <shrsOrPrnAmt>
      <sshPrnamt>267800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>267800</Sole>
      <Shared>267800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Baker Hughes Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>05722G100</cusip>
    <figi>BBG00GBVBK51</figi>
    <value>50536152</value>
    <shrsOrPrnAmt>
      <sshPrnamt>827783</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>827783</Sole>
      <Shared>827783</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Baker Hughes Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>05722G100</cusip>
    <figi>BBG00GBVBK51</figi>
    <value>415140</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6800</Sole>
      <Shared>6800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Baker Hughes Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>05722G100</cusip>
    <figi>BBG00GBVBK51</figi>
    <value>2185590</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35800</Sole>
      <Shared>35800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bakkt Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>05759B305</cusip>
    <figi>BBG00XRJ7Y40</figi>
    <value>552140</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75019</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>75019</Sole>
      <Shared>75019</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Balchem Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>057665200</cusip>
    <figi>BBG000BCY878</figi>
    <value>3814995</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22510</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22510</Sole>
      <Shared>22510</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ball Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>058498106</cusip>
    <figi>BBG000BDDNH5</figi>
    <value>484702</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8200</Sole>
      <Shared>8200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Banc Of California Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>05990K106</cusip>
    <figi>BBG000F7VG25</figi>
    <value>7898254</value>
    <shrsOrPrnAmt>
      <sshPrnamt>449275</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>449275</Sole>
      <Shared>449275</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Banc Of California Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>05990K106</cusip>
    <figi>BBG000F7VG25</figi>
    <value>1358934</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>77300</Sole>
      <Shared>77300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bancfirst Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>05945F103</cusip>
    <figi>BBG000BGJJX3</figi>
    <value>3031273</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27938</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27938</Sole>
      <Shared>27938</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Banco Bilbao Vizcaya Argentaria Sa - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>05946K101</cusip>
    <figi>BBG000BXD232</figi>
    <value>6032115</value>
    <shrsOrPrnAmt>
      <sshPrnamt>278491</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>278491</Sole>
      <Shared>278491</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Banco Santander Sa - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>05964H105</cusip>
    <figi>BBG000BTJS47</figi>
    <value>183864</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16300</Sole>
      <Shared>16300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bancorp Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>05969A105</cusip>
    <figi>BBG000Q50XK4</figi>
    <value>16378623</value>
    <shrsOrPrnAmt>
      <sshPrnamt>304832</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>304832</Sole>
      <Shared>304832</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank Of America Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>060505104</cusip>
    <figi>BBG000BCTLF6</figi>
    <value>30618900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>628080</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>628080</Sole>
      <Shared>628080</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank Of America Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>060505104</cusip>
    <figi>BBG000BCTLF6</figi>
    <value>9096750</value>
    <shrsOrPrnAmt>
      <sshPrnamt>186600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>186600</Sole>
      <Shared>186600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank Of America Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>060505104</cusip>
    <figi>BBG000BCTLF6</figi>
    <value>15492750</value>
    <shrsOrPrnAmt>
      <sshPrnamt>317800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>317800</Sole>
      <Shared>317800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank Of Montreal - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>063671101</cusip>
    <figi>BBG000DLY9B9</figi>
    <value>852642</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6300</Sole>
      <Shared>6300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank Of Montreal - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>063671101</cusip>
    <figi>BBG000DLY9B9</figi>
    <value>1163924</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8600</Sole>
      <Shared>8600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank Of New York Mellon Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>064058100</cusip>
    <figi>BBG000BD8PN9</figi>
    <value>20266512</value>
    <shrsOrPrnAmt>
      <sshPrnamt>170838</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>170838</Sole>
      <Shared>170838</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank Of New York Mellon Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>064058100</cusip>
    <figi>BBG000BD8PN9</figi>
    <value>355890</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3000</Sole>
      <Shared>3000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank Of New York Mellon Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>064058100</cusip>
    <figi>BBG000BD8PN9</figi>
    <value>1115122</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9400</Sole>
      <Shared>9400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank Of Nova Scotia/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>064149107</cusip>
    <figi>BBG000C2RV03</figi>
    <value>684783</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9880</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9880</Sole>
      <Shared>9880</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank Of Nova Scotia/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>064149107</cusip>
    <figi>BBG000C2RV03</figi>
    <value>956478</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13800</Sole>
      <Shared>13800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank Of Nova Scotia/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>064149107</cusip>
    <figi>BBG000C2RV03</figi>
    <value>1566406</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22600</Sole>
      <Shared>22600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank Of Nt Butterfield &amp; Son Ltd/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G0772R208</cusip>
    <figi>BBG00DK7NM27</figi>
    <value>5008429</value>
    <shrsOrPrnAmt>
      <sshPrnamt>95435</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>95435</Sole>
      <Shared>95435</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bank Ozk - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>06417N103</cusip>
    <figi>BBG000QFJJW0</figi>
    <value>30595873</value>
    <shrsOrPrnAmt>
      <sshPrnamt>666722</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>666722</Sole>
      <Shared>666722</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bankunited Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>06652K103</cusip>
    <figi>BBG000PQPCM6</figi>
    <value>4894396</value>
    <shrsOrPrnAmt>
      <sshPrnamt>108379</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>108379</Sole>
      <Shared>108379</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bankunited Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>06652K103</cusip>
    <figi>BBG000PQPCM6</figi>
    <value>3441192</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>76200</Sole>
      <Shared>76200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Banner Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>06652V208</cusip>
    <figi>BBG000MVZH28</figi>
    <value>2149043</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35416</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35416</Sole>
      <Shared>35416</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Barclays Plc - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>06738E204</cusip>
    <figi>BBG000BCZ341</figi>
    <value>6478684</value>
    <shrsOrPrnAmt>
      <sshPrnamt>306176</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>306176</Sole>
      <Shared>306176</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Barclays Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>06738E204</cusip>
    <figi>BBG000BCZ341</figi>
    <value>353372</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16700</Sole>
      <Shared>16700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Barrett Business Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>068463108</cusip>
    <figi>BBG000BHJSC4</figi>
    <value>414852</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14217</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14217</Sole>
      <Shared>14217</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Barrick Mining Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>06849F108</cusip>
    <figi>BBG000BB07P9</figi>
    <value>3200669</value>
    <shrsOrPrnAmt>
      <sshPrnamt>78467</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>78467</Sole>
      <Shared>78467</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Barrick Mining Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>06849F108</cusip>
    <figi>BBG000BB07P9</figi>
    <value>3197936</value>
    <shrsOrPrnAmt>
      <sshPrnamt>78400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>78400</Sole>
      <Shared>78400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Barrick Mining Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>06849F108</cusip>
    <figi>BBG000BB07P9</figi>
    <value>14239789</value>
    <shrsOrPrnAmt>
      <sshPrnamt>349100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>349100</Sole>
      <Shared>349100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bath &amp; Body Works Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>070830104</cusip>
    <figi>BBG000BNGTQ7</figi>
    <value>6113305</value>
    <shrsOrPrnAmt>
      <sshPrnamt>327440</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>327440</Sole>
      <Shared>327440</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bath &amp; Body Works Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>070830104</cusip>
    <figi>BBG000BNGTQ7</figi>
    <value>319257</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17100</Sole>
      <Shared>17100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bath &amp; Body Works Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>070830104</cusip>
    <figi>BBG000BNGTQ7</figi>
    <value>420075</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22500</Sole>
      <Shared>22500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BAUSCH PLUS LOMB CORP</nameOfIssuer>
    <titleOfClass>COMMON SHARES</titleOfClass>
    <cusip>071705107</cusip>
    <figi>BBG014KG1L68</figi>
    <value>5985491</value>
    <shrsOrPrnAmt>
      <sshPrnamt>376446</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>376446</Sole>
      <Shared>376446</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bausch Health Cos Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>071734107</cusip>
    <figi>BBG000DLFM21</figi>
    <value>63720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11800</Sole>
      <Shared>11800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Baxter International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>071813109</cusip>
    <figi>BBG000BCVJ77</figi>
    <value>529200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31500</Sole>
      <Shared>31500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Baytex Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>07317Q105</cusip>
    <figi>BBG000BW3M86</figi>
    <value>318800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71320</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>71320</Sole>
      <Shared>71320</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BBB Foods Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G0896C103</cusip>
    <figi>BBG01L3GNF86</figi>
    <value>4438546</value>
    <shrsOrPrnAmt>
      <sshPrnamt>125489</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>125489</Sole>
      <Shared>125489</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Beam Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>07373V105</cusip>
    <figi>BBG00KXC8646</figi>
    <value>1127397</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47310</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>47310</Sole>
      <Shared>47310</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Becton Dickinson And Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>075887109</cusip>
    <figi>BBG000BCZYD3</figi>
    <value>2717721</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17285</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17285</Sole>
      <Shared>17285</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Becton Dickinson And Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>075887109</cusip>
    <figi>BBG000BCZYD3</figi>
    <value>581751</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3700</Sole>
      <Shared>3700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Becton Dickinson And Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>075887109</cusip>
    <figi>BBG000BCZYD3</figi>
    <value>393075</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2500</Sole>
      <Shared>2500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bed Bath &amp; Beyond Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>690370101</cusip>
    <figi>BBG000BF7BV7</figi>
    <value>2412981</value>
    <shrsOrPrnAmt>
      <sshPrnamt>520039</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>520039</Sole>
      <Shared>520039</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bed Bath &amp; Beyond Inc - US</nameOfIssuer>
    <titleOfClass>Warrant / Rights</titleOfClass>
    <cusip>075896159</cusip>
    <figi>BBG01XHHMYF5</figi>
    <value>19514</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34753</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34753</Sole>
      <Shared>34753</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Belden Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>077454106</cusip>
    <figi>BBG000Q4XNV1</figi>
    <value>3545261</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30874</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30874</Sole>
      <Shared>30874</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Belite Bio Inc - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>07782B104</cusip>
    <figi>BBG016LJYT18</figi>
    <value>254466</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1596</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1596</Sole>
      <Shared>1596</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BellRing Brands Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>07831C103</cusip>
    <figi>BBG013QNJHP8</figi>
    <value>7975942</value>
    <shrsOrPrnAmt>
      <sshPrnamt>495708</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>495708</Sole>
      <Shared>495708</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BellRing Brands Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>07831C103</cusip>
    <figi>BBG013QNJHP8</figi>
    <value>394205</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24500</Sole>
      <Shared>24500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BellRing Brands Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>07831C103</cusip>
    <figi>BBG013QNJHP8</figi>
    <value>627510</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39000</Sole>
      <Shared>39000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Benchmark Electronics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>08160H101</cusip>
    <figi>BBG000C4JX31</figi>
    <value>4532731</value>
    <shrsOrPrnAmt>
      <sshPrnamt>80855</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>80855</Sole>
      <Shared>80855</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bentley Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>08265T208</cusip>
    <figi>BBG000BMSRR9</figi>
    <value>4839852</value>
    <shrsOrPrnAmt>
      <sshPrnamt>137809</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>137809</Sole>
      <Shared>137809</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Berkshire Hathaway Inc - US Class B</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>084670702</cusip>
    <figi>BBG000DWG505</figi>
    <value>60827252</value>
    <shrsOrPrnAmt>
      <sshPrnamt>126935</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>126935</Sole>
      <Shared>126935</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Berkshire Hathaway Inc - US Class B</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>084670702</cusip>
    <figi>BBG000DWG505</figi>
    <value>14232240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29700</Sole>
      <Shared>29700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Berkshire Hathaway Inc - US Class B</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>084670702</cusip>
    <figi>BBG000DWG505</figi>
    <value>79307600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>165500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>165500</Sole>
      <Shared>165500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Best Buy Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>086516101</cusip>
    <figi>BBG000BCWCG1</figi>
    <value>256800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4000</Sole>
      <Shared>4000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Best Buy Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>086516101</cusip>
    <figi>BBG000BCWCG1</figi>
    <value>295320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4600</Sole>
      <Shared>4600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Beta Bionics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>08659B102</cusip>
    <figi>BBG00JNGG9Q2</figi>
    <value>2185302</value>
    <shrsOrPrnAmt>
      <sshPrnamt>218094</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>218094</Sole>
      <Shared>218094</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Better Home &amp; Finance Holding Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>08774B508</cusip>
    <figi>BBG0103VG6N0</figi>
    <value>324605</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9113</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9113</Sole>
      <Shared>9113</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BGC Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>088929104</cusip>
    <figi>BBG01H9FTGX5</figi>
    <value>8158310</value>
    <shrsOrPrnAmt>
      <sshPrnamt>834183</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>834183</Sole>
      <Shared>834183</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bhp Group Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>088606108</cusip>
    <figi>BBG000BD5NZ4</figi>
    <value>589194</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8100</Sole>
      <Shared>8100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bhp Group Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>088606108</cusip>
    <figi>BBG000BD5NZ4</figi>
    <value>7965030</value>
    <shrsOrPrnAmt>
      <sshPrnamt>109500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>109500</Sole>
      <Shared>109500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BigBear.ai Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>08975B109</cusip>
    <figi>BBG00Z4HKRV4</figi>
    <value>8616826</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2447962</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2447962</Sole>
      <Shared>2447962</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Biglari Holdings Inc - US Class B</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>08986R309</cusip>
    <figi>BBG00JPRDQH1</figi>
    <value>3197023</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9700</Sole>
      <Shared>9700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bilibili Inc - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>090040106</cusip>
    <figi>BBG00K7T3037</figi>
    <value>777982</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34485</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34485</Sole>
      <Shared>34485</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bilibili Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>090040106</cusip>
    <figi>BBG00K7T3037</figi>
    <value>1746144</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>77400</Sole>
      <Shared>77400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bill Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>090043100</cusip>
    <figi>BBG00QVJV6V4</figi>
    <value>306400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8000</Sole>
      <Shared>8000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bill Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>090043100</cusip>
    <figi>BBG00QVJV6V4</figi>
    <value>532370</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13900</Sole>
      <Shared>13900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Biocryst Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09058V103</cusip>
    <figi>BBG000BLYWX6</figi>
    <value>911064</value>
    <shrsOrPrnAmt>
      <sshPrnamt>95700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>95700</Sole>
      <Shared>95700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Biogen Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09062X103</cusip>
    <figi>BBG000C17X76</figi>
    <value>201663</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1100</Sole>
      <Shared>1100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Biohaven Ltd</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G1110E107</cusip>
    <figi>BBG017BXV3Q9</figi>
    <value>705023</value>
    <shrsOrPrnAmt>
      <sshPrnamt>83336</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>83336</Sole>
      <Shared>83336</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Biohaven Ltd</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G1110E107</cusip>
    <figi>BBG017BXV3Q9</figi>
    <value>125208</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14800</Sole>
      <Shared>14800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Biomarin Pharmaceutical Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09061G101</cusip>
    <figi>BBG000CZWZ05</figi>
    <value>305046</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5400</Sole>
      <Shared>5400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Biomarin Pharmaceutical Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09061G101</cusip>
    <figi>BBG000CZWZ05</figi>
    <value>531006</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9400</Sole>
      <Shared>9400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Biontech Se - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>09075V102</cusip>
    <figi>BBG00Q70B3V1</figi>
    <value>689531</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7758</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7758</Sole>
      <Shared>7758</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Biontech Se - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09075V102</cusip>
    <figi>BBG00Q70B3V1</figi>
    <value>3084136</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34700</Sole>
      <Shared>34700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bio-Rad Laboratories Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>090572207</cusip>
    <figi>BBG000DY28W5</figi>
    <value>1438629</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5161</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5161</Sole>
      <Shared>5161</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Birkenstock Holding Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M2029K104</cusip>
    <figi>BBG01J9M42H2</figi>
    <value>315304</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8800</Sole>
      <Shared>8800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bitdeer Technologies Group - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G11448100</cusip>
    <figi>BBG0142Q8P97</figi>
    <value>10010965</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1157337</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1157337</Sole>
      <Shared>1157337</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bitdeer Technologies Group - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G11448100</cusip>
    <figi>BBG0142Q8P97</figi>
    <value>647020</value>
    <shrsOrPrnAmt>
      <sshPrnamt>74800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>74800</Sole>
      <Shared>74800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bitdeer Technologies Group - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G11448100</cusip>
    <figi>BBG0142Q8P97</figi>
    <value>757740</value>
    <shrsOrPrnAmt>
      <sshPrnamt>87600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>87600</Sole>
      <Shared>87600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BitMine Immersion Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09175A206</cusip>
    <figi>BBG000BWFL03</figi>
    <value>2587224</value>
    <shrsOrPrnAmt>
      <sshPrnamt>130800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>130800</Sole>
      <Shared>130800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BitMine Immersion Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09175A206</cusip>
    <figi>BBG000BWFL03</figi>
    <value>8323424</value>
    <shrsOrPrnAmt>
      <sshPrnamt>420800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>420800</Sole>
      <Shared>420800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bj's Wholesale Club Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>05550J101</cusip>
    <figi>BBG00FQ8T4G3</figi>
    <value>314944</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3200</Sole>
      <Shared>3200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bj's Wholesale Club Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>05550J101</cusip>
    <figi>BBG00FQ8T4G3</figi>
    <value>620046</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6300</Sole>
      <Shared>6300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Black Hills Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>092113109</cusip>
    <figi>BBG000BD9ZM7</figi>
    <value>6121962</value>
    <shrsOrPrnAmt>
      <sshPrnamt>88200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>88200</Sole>
      <Shared>88200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Black Rock Coffee Bar Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>092244102</cusip>
    <figi>BBG016NMK1H8</figi>
    <value>1219467</value>
    <shrsOrPrnAmt>
      <sshPrnamt>94386</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>94386</Sole>
      <Shared>94386</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blackbaud Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>09227Q100</cusip>
    <figi>BBG000BGGTW5</figi>
    <value>1771041</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45870</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45870</Sole>
      <Shared>45870</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blackrock Funding Inc/De - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09290D101</cusip>
    <figi>BBG01PSW2WN4</figi>
    <value>1057881</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1100</Sole>
      <Shared>1100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blackrock Funding Inc/De - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09290D101</cusip>
    <figi>BBG01PSW2WN4</figi>
    <value>3558327</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3700</Sole>
      <Shared>3700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blacksky Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>09263B207</cusip>
    <figi>BBG00QRY6P33</figi>
    <value>4838947</value>
    <shrsOrPrnAmt>
      <sshPrnamt>192327</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>192327</Sole>
      <Shared>192327</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blackstone Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>09260D107</cusip>
    <figi>BBG000BH0106</figi>
    <value>16590182</value>
    <shrsOrPrnAmt>
      <sshPrnamt>144275</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>144275</Sole>
      <Shared>144275</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blackstone Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09260D107</cusip>
    <figi>BBG000BH0106</figi>
    <value>862425</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7500</Sole>
      <Shared>7500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blackstone Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09260D107</cusip>
    <figi>BBG000BH0106</figi>
    <value>3737175</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32500</Sole>
      <Shared>32500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blackstone Secured Lending Fund - US</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>09261X102</cusip>
    <figi>BBG00MS80PM3</figi>
    <value>1184500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50000</Sole>
      <Shared>50000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blend Labs Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>09352U108</cusip>
    <figi>BBG00D0YK7T7</figi>
    <value>2397036</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1410021</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1410021</Sole>
      <Shared>1410021</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Block Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>852234103</cusip>
    <figi>BBG0018SLC07</figi>
    <value>6258720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>104000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>104000</Sole>
      <Shared>104000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Block Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>852234103</cusip>
    <figi>BBG0018SLC07</figi>
    <value>6024018</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100100</Sole>
      <Shared>100100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bloom Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>093712107</cusip>
    <figi>BBG000N7KBZ3</figi>
    <value>6350145</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46868</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46868</Sole>
      <Shared>46868</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bloom Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>093712107</cusip>
    <figi>BBG000N7KBZ3</figi>
    <value>12505727</value>
    <shrsOrPrnAmt>
      <sshPrnamt>92300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>92300</Sole>
      <Shared>92300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bloom Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>093712107</cusip>
    <figi>BBG000N7KBZ3</figi>
    <value>677450</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5000</Sole>
      <Shared>5000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blue Bird Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>095306106</cusip>
    <figi>BBG006427SW3</figi>
    <value>2010650</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35405</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35405</Sole>
      <Shared>35405</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blue Foundry Bancorp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>09549B104</cusip>
    <figi>BBG00ZLHY9C1</figi>
    <value>1287630</value>
    <shrsOrPrnAmt>
      <sshPrnamt>97253</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>97253</Sole>
      <Shared>97253</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blue Owl Capital Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>69121K104</cusip>
    <figi>BBG00DB0XYC4</figi>
    <value>1048411</value>
    <shrsOrPrnAmt>
      <sshPrnamt>94793</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>94793</Sole>
      <Shared>94793</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blue Owl Capital Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>69121K104</cusip>
    <figi>BBG00DB0XYC4</figi>
    <value>2217530</value>
    <shrsOrPrnAmt>
      <sshPrnamt>200500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>200500</Sole>
      <Shared>200500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blue Owl Capital Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>69121K104</cusip>
    <figi>BBG00DB0XYC4</figi>
    <value>387100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35000</Sole>
      <Shared>35000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blue Owl Capital Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>09581B103</cusip>
    <figi>BBG00XV417R8</figi>
    <value>18339495</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2008707</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2008707</Sole>
      <Shared>2008707</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blue Owl Capital Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09581B103</cusip>
    <figi>BBG00XV417R8</figi>
    <value>8973877</value>
    <shrsOrPrnAmt>
      <sshPrnamt>982900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>982900</Sole>
      <Shared>982900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Blue Owl Capital Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09581B103</cusip>
    <figi>BBG00XV417R8</figi>
    <value>13216588</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1447600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1447600</Sole>
      <Shared>1447600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bluerock Homes Trust Inc</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>09631H100</cusip>
    <figi>BBG0146YWXC8</figi>
    <value>758405</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66761</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>66761</Sole>
      <Shared>66761</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Boeing Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>097023105</cusip>
    <figi>BBG000BCSST7</figi>
    <value>26053027</value>
    <shrsOrPrnAmt>
      <sshPrnamt>130900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>130900</Sole>
      <Shared>130900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Boeing Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>097023105</cusip>
    <figi>BBG000BCSST7</figi>
    <value>108093193</value>
    <shrsOrPrnAmt>
      <sshPrnamt>543100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>543100</Sole>
      <Shared>543100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bok Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>05561Q201</cusip>
    <figi>BBG000CFZ003</figi>
    <value>406975</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3178</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3178</Sole>
      <Shared>3178</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Booking Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>09857L108</cusip>
    <figi>BBG000BLBVN4</figi>
    <value>80484477</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19116</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19116</Sole>
      <Shared>19116</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Booking Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>09857L108</cusip>
    <figi>BBG000BLBVN4</figi>
    <value>842064</value>
    <shrsOrPrnAmt>
      <sshPrnamt>200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>200</Sole>
      <Shared>200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Boot Barn Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>099406100</cusip>
    <figi>BBG0077SYZV6</figi>
    <value>11067011</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75615</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>75615</Sole>
      <Shared>75615</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Booz Allen Hamilton Holding Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>099502106</cusip>
    <figi>BBG000R2YFG7</figi>
    <value>374544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4800</Sole>
      <Shared>4800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Booz Allen Hamilton Holding Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>099502106</cusip>
    <figi>BBG000R2YFG7</figi>
    <value>889542</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11400</Sole>
      <Shared>11400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Borr Drilling Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G1466R173</cusip>
    <figi>BBG00KVSR8X6</figi>
    <value>13079378</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2266790</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2266790</Sole>
      <Shared>2266790</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Boston Omaha Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>101044105</cusip>
    <figi>BBG0021J73K6</figi>
    <value>342294</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29306</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29306</Sole>
      <Shared>29306</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Boston Scientific Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>101137107</cusip>
    <figi>BBG000C0LW92</figi>
    <value>39692638</value>
    <shrsOrPrnAmt>
      <sshPrnamt>632552</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>632552</Sole>
      <Shared>632552</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Boston Scientific Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>101137107</cusip>
    <figi>BBG000C0LW92</figi>
    <value>13453600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>214400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>214400</Sole>
      <Shared>214400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Boston Scientific Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>101137107</cusip>
    <figi>BBG000C0LW92</figi>
    <value>13290450</value>
    <shrsOrPrnAmt>
      <sshPrnamt>211800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>211800</Sole>
      <Shared>211800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bowman Consulting Group Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>103002101</cusip>
    <figi>BBG003BPV1Q0</figi>
    <value>822855</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28933</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28933</Sole>
      <Shared>28933</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Box Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>10316T104</cusip>
    <figi>BBG000PMSK08</figi>
    <value>3050151</value>
    <shrsOrPrnAmt>
      <sshPrnamt>129025</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>129025</Sole>
      <Shared>129025</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Box Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>10316T104</cusip>
    <figi>BBG000PMSK08</figi>
    <value>293136</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12400</Sole>
      <Shared>12400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Boyd Gaming Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>103304101</cusip>
    <figi>BBG000BHX9P6</figi>
    <value>928634</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11300</Sole>
      <Shared>11300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bp Plc - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>055622104</cusip>
    <figi>BBG000BT4FC2</figi>
    <value>14560459</value>
    <shrsOrPrnAmt>
      <sshPrnamt>309797</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>309797</Sole>
      <Shared>309797</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bp Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>055622104</cusip>
    <figi>BBG000BT4FC2</figi>
    <value>15148100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>322300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>322300</Sole>
      <Shared>322300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bp Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>055622104</cusip>
    <figi>BBG000BT4FC2</figi>
    <value>16280800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>346400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>346400</Sole>
      <Shared>346400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brandywine Realty Trust - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>105368203</cusip>
    <figi>BBG000CL6RJ3</figi>
    <value>2390542</value>
    <shrsOrPrnAmt>
      <sshPrnamt>882119</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>882119</Sole>
      <Shared>882119</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Braze Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>10576N102</cusip>
    <figi>BBG00294NX45</figi>
    <value>302208</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12800</Sole>
      <Shared>12800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Braze Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>10576N102</cusip>
    <figi>BBG00294NX45</figi>
    <value>394287</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16700</Sole>
      <Shared>16700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BRC INC-A - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>05601U105</cusip>
    <figi>BBG0157C6612</figi>
    <value>268583</value>
    <shrsOrPrnAmt>
      <sshPrnamt>346023</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>346023</Sole>
      <Shared>346023</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bridgebio Pharma Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>10806X102</cusip>
    <figi>BBG00P9KDZK6</figi>
    <value>2101558</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28300</Sole>
      <Shared>28300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brighthouse Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>10922N103</cusip>
    <figi>BBG00DYPZ4T0</figi>
    <value>1043229</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17422</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17422</Sole>
      <Shared>17422</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brighthouse Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>10922N103</cusip>
    <figi>BBG00DYPZ4T0</figi>
    <value>724548</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12100</Sole>
      <Shared>12100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brighthouse Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>10922N103</cusip>
    <figi>BBG00DYPZ4T0</figi>
    <value>6389196</value>
    <shrsOrPrnAmt>
      <sshPrnamt>106700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>106700</Sole>
      <Shared>106700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brinker International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>109641100</cusip>
    <figi>BBG000BK28N7</figi>
    <value>1042221</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7300</Sole>
      <Shared>7300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brinker International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>109641100</cusip>
    <figi>BBG000BK28N7</figi>
    <value>1042221</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7300</Sole>
      <Shared>7300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bristol-Myers Squibb Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>110122108</cusip>
    <figi>BBG000DQLV23</figi>
    <value>2140945</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35300</Sole>
      <Shared>35300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bristol-Myers Squibb Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>110122108</cusip>
    <figi>BBG000DQLV23</figi>
    <value>13452170</value>
    <shrsOrPrnAmt>
      <sshPrnamt>221800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>221800</Sole>
      <Shared>221800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>British American Tobacco Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>110448107</cusip>
    <figi>BBG000BWPXQ8</figi>
    <value>397596</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6800</Sole>
      <Shared>6800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>British American Tobacco Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>110448107</cusip>
    <figi>BBG000BWPXQ8</figi>
    <value>2981970</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51000</Sole>
      <Shared>51000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brixmor Property Group Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>11120U105</cusip>
    <figi>BBG001LFLZZ1</figi>
    <value>2297002</value>
    <shrsOrPrnAmt>
      <sshPrnamt>79757</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>79757</Sole>
      <Shared>79757</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Broadcom Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>11135F101</cusip>
    <figi>BBG00KHY5S69</figi>
    <value>96494076</value>
    <shrsOrPrnAmt>
      <sshPrnamt>311764</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>311764</Sole>
      <Shared>311764</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Broadcom Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>11135F101</cusip>
    <figi>BBG00KHY5S69</figi>
    <value>27144027</value>
    <shrsOrPrnAmt>
      <sshPrnamt>87700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>87700</Sole>
      <Shared>87700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Broadcom Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>11135F101</cusip>
    <figi>BBG00KHY5S69</figi>
    <value>81803493</value>
    <shrsOrPrnAmt>
      <sshPrnamt>264300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>264300</Sole>
      <Shared>264300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Broadridge Financial Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>11133T103</cusip>
    <figi>BBG000PPFKQ7</figi>
    <value>25088537</value>
    <shrsOrPrnAmt>
      <sshPrnamt>154410</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>154410</Sole>
      <Shared>154410</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brookdale Senior Living Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>112463104</cusip>
    <figi>BBG000J4L211</figi>
    <value>22362600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1634693</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1634693</Sole>
      <Shared>1634693</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brookfield Asset Management Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>113004105</cusip>
    <figi>BBG01BPHNXZ3</figi>
    <value>2684780</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60400</Sole>
      <Shared>60400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brookfield Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>11271J107</cusip>
    <figi>BBG000C9KL89</figi>
    <value>1284154</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31731</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31731</Sole>
      <Shared>31731</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brookfield Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>11271J107</cusip>
    <figi>BBG000C9KL89</figi>
    <value>762860</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18850</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18850</Sole>
      <Shared>18850</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brookfield Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>11271J107</cusip>
    <figi>BBG000C9KL89</figi>
    <value>1564166</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38650</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38650</Sole>
      <Shared>38650</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brookfield Infrastructure Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>11276H106</cusip>
    <figi>BBG01RJ2W204</figi>
    <value>1357789</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34357</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34357</Sole>
      <Shared>34357</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brown &amp; Brown Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>115236101</cusip>
    <figi>BBG000BWSGF4</figi>
    <value>9540940</value>
    <shrsOrPrnAmt>
      <sshPrnamt>146311</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>146311</Sole>
      <Shared>146311</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brown &amp; Brown Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>115236101</cusip>
    <figi>BBG000BWSGF4</figi>
    <value>280403</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4300</Sole>
      <Shared>4300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brown-Forman Corp - US Class B</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>115637209</cusip>
    <figi>BBG000BD2NY8</figi>
    <value>663644</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25100</Sole>
      <Shared>25100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bruker Corp - US</nameOfIssuer>
    <titleOfClass>Convertible Preferred Equity</titleOfClass>
    <cusip>116794207</cusip>
    <figi>BBG01X1L3C62</figi>
    <value>575360</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2000</Sole>
      <Shared>2000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bruker Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>116794108</cusip>
    <figi>BBG000CL1FG7</figi>
    <value>5056800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>140000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>140000</Sole>
      <Shared>140000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Brunswick Corp/De - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>117043109</cusip>
    <figi>BBG000BCWSS3</figi>
    <value>1504022</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20671</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20671</Sole>
      <Shared>20671</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Buckle Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>118440106</cusip>
    <figi>BBG000BD9525</figi>
    <value>8422257</value>
    <shrsOrPrnAmt>
      <sshPrnamt>167241</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>167241</Sole>
      <Shared>167241</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Build-A-Bear Workshop Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>120076104</cusip>
    <figi>BBG000H8XPS1</figi>
    <value>283122</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7560</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7560</Sole>
      <Shared>7560</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Builders Firstsource Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>12008R107</cusip>
    <figi>BBG000BKD3K9</figi>
    <value>2494599</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30300</Sole>
      <Shared>30300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Builders Firstsource Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>12008R107</cusip>
    <figi>BBG000BKD3K9</figi>
    <value>4717509</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57300</Sole>
      <Shared>57300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bullish - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G16910120</cusip>
    <figi>BBG01W8QW0N1</figi>
    <value>435906</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12200</Sole>
      <Shared>12200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bumble Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>12047B105</cusip>
    <figi>BBG00Z6RF483</figi>
    <value>2783310</value>
    <shrsOrPrnAmt>
      <sshPrnamt>853776</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>853776</Sole>
      <Shared>853776</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bunge Global SA - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>H11356104</cusip>
    <figi>BBG01JZ8VL91</figi>
    <value>561970</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4418</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4418</Sole>
      <Shared>4418</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bunge Global SA - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H11356104</cusip>
    <figi>BBG01JZ8VL91</figi>
    <value>1106640</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8700</Sole>
      <Shared>8700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bunge Global SA - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H11356104</cusip>
    <figi>BBG01JZ8VL91</figi>
    <value>2607600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20500</Sole>
      <Shared>20500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Burlington Stores Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>122017106</cusip>
    <figi>BBG004S641N5</figi>
    <value>10304134</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31668</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31668</Sole>
      <Shared>31668</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Burlington Stores Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>122017106</cusip>
    <figi>BBG004S641N5</figi>
    <value>455532</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1400</Sole>
      <Shared>1400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Butterfly Network Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>124155102</cusip>
    <figi>BBG00TN65975</figi>
    <value>1743369</value>
    <shrsOrPrnAmt>
      <sshPrnamt>431527</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>431527</Sole>
      <Shared>431527</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Bwx Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>05605H100</cusip>
    <figi>BBG000D86F25</figi>
    <value>1186042</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5800</Sole>
      <Shared>5800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BXP Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>101121101</cusip>
    <figi>BBG000BS5CM9</figi>
    <value>9351031</value>
    <shrsOrPrnAmt>
      <sshPrnamt>180174</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>180174</Sole>
      <Shared>180174</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BXP Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>101121101</cusip>
    <figi>BBG000BS5CM9</figi>
    <value>415200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8000</Sole>
      <Shared>8000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BXP Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>101121101</cusip>
    <figi>BBG000BS5CM9</figi>
    <value>1479150</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28500</Sole>
      <Shared>28500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Byline Bancorp Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>124411109</cusip>
    <figi>BBG000G2ZJ98</figi>
    <value>3800554</value>
    <shrsOrPrnAmt>
      <sshPrnamt>120385</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>120385</Sole>
      <Shared>120385</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>C3.Ai Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>12468P104</cusip>
    <figi>BBG00Y6G6X31</figi>
    <value>1368957</value>
    <shrsOrPrnAmt>
      <sshPrnamt>162584</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>162584</Sole>
      <Shared>162584</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>C3.Ai Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>12468P104</cusip>
    <figi>BBG00Y6G6X31</figi>
    <value>2603464</value>
    <shrsOrPrnAmt>
      <sshPrnamt>309200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>309200</Sole>
      <Shared>309200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>C3.Ai Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>12468P104</cusip>
    <figi>BBG00Y6G6X31</figi>
    <value>2432538</value>
    <shrsOrPrnAmt>
      <sshPrnamt>288900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>288900</Sole>
      <Shared>288900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cabaletta Bio Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>12674W109</cusip>
    <figi>BBG00MJ3BKW2</figi>
    <value>403500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>150000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>150000</Sole>
      <Shared>150000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cable One Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>12685J105</cusip>
    <figi>BBG000F02T51</figi>
    <value>1911306</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20955</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20955</Sole>
      <Shared>20955</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cadence Design Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>127387108</cusip>
    <figi>BBG000C13CD9</figi>
    <value>389018</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1400</Sole>
      <Shared>1400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cadence Design Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>127387108</cusip>
    <figi>BBG000C13CD9</figi>
    <value>3473375</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12500</Sole>
      <Shared>12500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Caesars Entertainment Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>12769G100</cusip>
    <figi>BBG0074Q3NK6</figi>
    <value>3618135</value>
    <shrsOrPrnAmt>
      <sshPrnamt>136895</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>136895</Sole>
      <Shared>136895</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Caesars Entertainment Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>12769G100</cusip>
    <figi>BBG0074Q3NK6</figi>
    <value>2780436</value>
    <shrsOrPrnAmt>
      <sshPrnamt>105200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>105200</Sole>
      <Shared>105200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Caesars Entertainment Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>12769G100</cusip>
    <figi>BBG0074Q3NK6</figi>
    <value>1030770</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39000</Sole>
      <Shared>39000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Caledonia Mining Corp Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G1757E113</cusip>
    <figi>BBG000CQHQS2</figi>
    <value>3245776</value>
    <shrsOrPrnAmt>
      <sshPrnamt>143682</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>143682</Sole>
      <Shared>143682</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Caleres Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>129500104</cusip>
    <figi>BBG000CYSFS7</figi>
    <value>2330847</value>
    <shrsOrPrnAmt>
      <sshPrnamt>221143</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>221143</Sole>
      <Shared>221143</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Calix Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>13100M509</cusip>
    <figi>BBG000PXJB68</figi>
    <value>3174650</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64802</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>64802</Sole>
      <Shared>64802</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Callaway Golf Company - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>131193104</cusip>
    <figi>BBG000CPCVY1</figi>
    <value>14718643</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1060421</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1060421</Sole>
      <Shared>1060421</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cal-Maine Foods Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>128030202</cusip>
    <figi>BBG000CDMJW6</figi>
    <value>530305</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6700</Sole>
      <Shared>6700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cal-Maine Foods Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>128030202</cusip>
    <figi>BBG000CDMJW6</figi>
    <value>1013120</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12800</Sole>
      <Shared>12800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Calumet Inc - US MLP</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>131428104</cusip>
    <figi>BBG01NQ82GB2</figi>
    <value>1888340</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52600</Sole>
      <Shared>52600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Calumet Inc - US MLP</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>131428104</cusip>
    <figi>BBG01NQ82GB2</figi>
    <value>3475120</value>
    <shrsOrPrnAmt>
      <sshPrnamt>96800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>96800</Sole>
      <Shared>96800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Camden Property Trust - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>133131102</cusip>
    <figi>BBG000BB0V03</figi>
    <value>332532</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3405</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3405</Sole>
      <Shared>3405</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cameco Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>13321L108</cusip>
    <figi>BBG000DSZTN6</figi>
    <value>6397129</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58900</Sole>
      <Shared>58900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cameco Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>13321L108</cusip>
    <figi>BBG000DSZTN6</figi>
    <value>9405626</value>
    <shrsOrPrnAmt>
      <sshPrnamt>86600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>86600</Sole>
      <Shared>86600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Canada Goose Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>135086106</cusip>
    <figi>BBG00G41B914</figi>
    <value>6267128</value>
    <shrsOrPrnAmt>
      <sshPrnamt>571297</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>571297</Sole>
      <Shared>571297</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Canadian Imperial Bank Of Commerce - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>136069101</cusip>
    <figi>BBG000FKTHQ1</figi>
    <value>383453</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4047</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4047</Sole>
      <Shared>4047</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Canadian Imperial Bank Of Commerce - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>136069101</cusip>
    <figi>BBG000FKTHQ1</figi>
    <value>881175</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9300</Sole>
      <Shared>9300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Canadian Imperial Bank Of Commerce - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>136069101</cusip>
    <figi>BBG000FKTHQ1</figi>
    <value>1847625</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19500</Sole>
      <Shared>19500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Canadian National Railway Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>136375102</cusip>
    <figi>BBG000HS74G6</figi>
    <value>472742</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4600</Sole>
      <Shared>4600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Canadian Natural Resources Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>136385101</cusip>
    <figi>BBG000HW5GX3</figi>
    <value>2943292</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60400</Sole>
      <Shared>60400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Canadian Natural Resources Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>136385101</cusip>
    <figi>BBG000HW5GX3</figi>
    <value>2646039</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>54300</Sole>
      <Shared>54300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Canadian Pacific Kansas City Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>13646K108</cusip>
    <figi>BBG000BCVMH9</figi>
    <value>361364</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4594</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4594</Sole>
      <Shared>4594</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Canadian Pacific Kansas City Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>13646K108</cusip>
    <figi>BBG000BCVMH9</figi>
    <value>251712</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3200</Sole>
      <Shared>3200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Canadian Pacific Kansas City Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>13646K108</cusip>
    <figi>BBG000BCVMH9</figi>
    <value>1455210</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18500</Sole>
      <Shared>18500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Canadian Solar Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>136635109</cusip>
    <figi>BBG000K1J931</figi>
    <value>7971354</value>
    <shrsOrPrnAmt>
      <sshPrnamt>575549</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>575549</Sole>
      <Shared>575549</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Canadian Solar Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>136635109</cusip>
    <figi>BBG000K1J931</figi>
    <value>1483335</value>
    <shrsOrPrnAmt>
      <sshPrnamt>107100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>107100</Sole>
      <Shared>107100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Canadian Solar Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>136635109</cusip>
    <figi>BBG000K1J931</figi>
    <value>1617680</value>
    <shrsOrPrnAmt>
      <sshPrnamt>116800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>116800</Sole>
      <Shared>116800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cannae Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>13765N107</cusip>
    <figi>BBG00GXRNJP4</figi>
    <value>1438225</value>
    <shrsOrPrnAmt>
      <sshPrnamt>126493</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>126493</Sole>
      <Shared>126493</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cantaloupe Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>138103106</cusip>
    <figi>BBG000H825F3</figi>
    <value>3060452</value>
    <shrsOrPrnAmt>
      <sshPrnamt>283113</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>283113</Sole>
      <Shared>283113</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cantor Equity Partners III Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G1828A108</cusip>
    <figi>BBG01VFVMCM0</figi>
    <value>1487733</value>
    <shrsOrPrnAmt>
      <sshPrnamt>144300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>144300</Sole>
      <Shared>144300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Capital Group Core Equity ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>14020V108</cusip>
    <figi>BBG015D25XY3</figi>
    <value>18338020</value>
    <shrsOrPrnAmt>
      <sshPrnamt>477304</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>477304</Sole>
      <Shared>477304</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Capital Group Dividend Value ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>14020W106</cusip>
    <figi>BBG015H8BWY1</figi>
    <value>53042573</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1246887</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1246887</Sole>
      <Shared>1246887</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Capital Group Growth ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>14020G101</cusip>
    <figi>BBG015DMY4V4</figi>
    <value>2924265</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72761</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>72761</Sole>
      <Shared>72761</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Capital One Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>14040H105</cusip>
    <figi>BBG000BGKTF9</figi>
    <value>99170407</value>
    <shrsOrPrnAmt>
      <sshPrnamt>543608</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>543608</Sole>
      <Shared>543608</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Capital One Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>14040H105</cusip>
    <figi>BBG000BGKTF9</figi>
    <value>912150</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5000</Sole>
      <Shared>5000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Capital One Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>14040H105</cusip>
    <figi>BBG000BGKTF9</figi>
    <value>14977503</value>
    <shrsOrPrnAmt>
      <sshPrnamt>82100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>82100</Sole>
      <Shared>82100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Capri Holdings Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G1890L107</cusip>
    <figi>BBG0029SNR63</figi>
    <value>436976</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24800</Sole>
      <Shared>24800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Capricor Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>14070B309</cusip>
    <figi>BBG000DZMK99</figi>
    <value>218880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7200</Sole>
      <Shared>7200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cardinal Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>14149Y108</cusip>
    <figi>BBG000D898T9</figi>
    <value>993157</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4700</Sole>
      <Shared>4700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cardinal Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>14149Y108</cusip>
    <figi>BBG000D898T9</figi>
    <value>1648218</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7800</Sole>
      <Shared>7800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Caretrust Reit Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>14174T107</cusip>
    <figi>BBG005KC4Z70</figi>
    <value>9186762</value>
    <shrsOrPrnAmt>
      <sshPrnamt>250662</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>250662</Sole>
      <Shared>250662</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cargurus Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>141788109</cusip>
    <figi>BBG00HQ77DS2</figi>
    <value>1248375</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36663</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36663</Sole>
      <Shared>36663</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Caris Life Sciences Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>142152107</cusip>
    <figi>BBG00255V2N4</figi>
    <value>1793847</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100327</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100327</Sole>
      <Shared>100327</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carlisle Cos Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>142339100</cusip>
    <figi>BBG000BGGBT8</figi>
    <value>764657</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2292</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2292</Sole>
      <Shared>2292</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carlisle Cos Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>142339100</cusip>
    <figi>BBG000BGGBT8</figi>
    <value>1501290</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4500</Sole>
      <Shared>4500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carlyle Group Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>14316J108</cusip>
    <figi>BBG000BH3F20</figi>
    <value>5792283</value>
    <shrsOrPrnAmt>
      <sshPrnamt>119700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>119700</Sole>
      <Shared>119700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carlyle Group Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>14316J108</cusip>
    <figi>BBG000BH3F20</figi>
    <value>367764</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7600</Sole>
      <Shared>7600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carlyle Secured Lending Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>872280102</cusip>
    <figi>BBG00GQVWWP4</figi>
    <value>2188000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>200000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>200000</Sole>
      <Shared>200000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carmax Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>143130102</cusip>
    <figi>BBG000BLMZK6</figi>
    <value>1934759</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46531</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46531</Sole>
      <Shared>46531</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carmax Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>143130102</cusip>
    <figi>BBG000BLMZK6</figi>
    <value>2827440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>68000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>68000</Sole>
      <Shared>68000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carmax Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>143130102</cusip>
    <figi>BBG000BLMZK6</figi>
    <value>3787938</value>
    <shrsOrPrnAmt>
      <sshPrnamt>91100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>91100</Sole>
      <Shared>91100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carnival Corp Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G2004J103</cusip>
    <figi>BBG000BF6LY3</figi>
    <value>6355119</value>
    <shrsOrPrnAmt>
      <sshPrnamt>245561</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>245561</Sole>
      <Shared>245561</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carnival Corp Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G2004J103</cusip>
    <figi>BBG000BF6LY3</figi>
    <value>1327644</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51300</Sole>
      <Shared>51300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carnival Corp Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G2004J103</cusip>
    <figi>BBG000BF6LY3</figi>
    <value>13993316</value>
    <shrsOrPrnAmt>
      <sshPrnamt>540700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>540700</Sole>
      <Shared>540700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carpenter Technology Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>144285103</cusip>
    <figi>BBG000BGCQT9</figi>
    <value>275905</value>
    <shrsOrPrnAmt>
      <sshPrnamt>700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>700</Sole>
      <Shared>700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carpenter Technology Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>144285103</cusip>
    <figi>BBG000BGCQT9</figi>
    <value>275905</value>
    <shrsOrPrnAmt>
      <sshPrnamt>700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>700</Sole>
      <Shared>700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carrier Global Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>14448C104</cusip>
    <figi>BBG00RP5HYS8</figi>
    <value>709506</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12600</Sole>
      <Shared>12600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cars.Com Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>14575E105</cusip>
    <figi>BBG000HGTH33</figi>
    <value>2082244</value>
    <shrsOrPrnAmt>
      <sshPrnamt>256434</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>256434</Sole>
      <Shared>256434</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carvana Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>146869102</cusip>
    <figi>BBG00GCTWDJ3</figi>
    <value>12732390</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40500</Sole>
      <Shared>40500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Carvana Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>146869102</cusip>
    <figi>BBG00GCTWDJ3</figi>
    <value>4967204</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15800</Sole>
      <Shared>15800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Casey's General Stores Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>147528103</cusip>
    <figi>BBG000BF0672</figi>
    <value>363930</value>
    <shrsOrPrnAmt>
      <sshPrnamt>500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>500</Sole>
      <Shared>500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Castle Biosciences Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>14843C105</cusip>
    <figi>BBG006YWVSR3</figi>
    <value>5474208</value>
    <shrsOrPrnAmt>
      <sshPrnamt>222982</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>222982</Sole>
      <Shared>222982</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Catalyst Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>14888U101</cusip>
    <figi>BBG000GZDC67</figi>
    <value>504980</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20395</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20395</Sole>
      <Shared>20395</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Caterpillar Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>149123101</cusip>
    <figi>BBG000BF0K17</figi>
    <value>4104817</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5794</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5794</Sole>
      <Shared>5794</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Caterpillar Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>149123101</cusip>
    <figi>BBG000BF0K17</figi>
    <value>27629940</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39000</Sole>
      <Shared>39000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Caterpillar Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>149123101</cusip>
    <figi>BBG000BF0K17</figi>
    <value>87211426</value>
    <shrsOrPrnAmt>
      <sshPrnamt>123100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>123100</Sole>
      <Shared>123100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cava Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>148929102</cusip>
    <figi>BBG00GBR8753</figi>
    <value>14901780</value>
    <shrsOrPrnAmt>
      <sshPrnamt>184200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>184200</Sole>
      <Shared>184200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cava Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>148929102</cusip>
    <figi>BBG00GBR8753</figi>
    <value>9708000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>120000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>120000</Sole>
      <Shared>120000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cavco Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>149568107</cusip>
    <figi>BBG000K4WS65</figi>
    <value>9799124</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20234</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20234</Sole>
      <Shared>20234</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cbiz Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>124805102</cusip>
    <figi>BBG000FQD1Z0</figi>
    <value>4209973</value>
    <shrsOrPrnAmt>
      <sshPrnamt>156796</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>156796</Sole>
      <Shared>156796</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cbl &amp; Associates Properties Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>124830878</cusip>
    <figi>BBG01396RNK7</figi>
    <value>3747655</value>
    <shrsOrPrnAmt>
      <sshPrnamt>97519</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>97519</Sole>
      <Shared>97519</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cboe Global Markets Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>12503M108</cusip>
    <figi>BBG000QH56C1</figi>
    <value>7552632</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26871</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26871</Sole>
      <Shared>26871</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cbre Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>12504L109</cusip>
    <figi>BBG000C04224</figi>
    <value>67739211</value>
    <shrsOrPrnAmt>
      <sshPrnamt>500068</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>500068</Sole>
      <Shared>500068</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cbre Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>12504L109</cusip>
    <figi>BBG000C04224</figi>
    <value>785668</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5800</Sole>
      <Shared>5800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cdw Corp/De - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>12514G108</cusip>
    <figi>BBG001P63B80</figi>
    <value>1522674</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12582</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12582</Sole>
      <Shared>12582</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cdw Corp/De - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>12514G108</cusip>
    <figi>BBG001P63B80</figi>
    <value>5215962</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43100</Sole>
      <Shared>43100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cdw Corp/De - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>12514G108</cusip>
    <figi>BBG001P63B80</figi>
    <value>532488</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4400</Sole>
      <Shared>4400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ceco Environmental Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>125141101</cusip>
    <figi>BBG000BFG2J1</figi>
    <value>2815274</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47252</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>47252</Sole>
      <Shared>47252</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Celanese Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>150870103</cusip>
    <figi>BBG000JYP7L8</figi>
    <value>18175671</value>
    <shrsOrPrnAmt>
      <sshPrnamt>276352</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>276352</Sole>
      <Shared>276352</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Celanese Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>150870103</cusip>
    <figi>BBG000JYP7L8</figi>
    <value>203887</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3100</Sole>
      <Shared>3100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Celanese Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>150870103</cusip>
    <figi>BBG000JYP7L8</figi>
    <value>466967</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7100</Sole>
      <Shared>7100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Celestica Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>15101Q207</cusip>
    <figi>BBG000BPS2C3</figi>
    <value>3251432</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11543</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11543</Sole>
      <Shared>11543</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Celestica Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>15101Q207</cusip>
    <figi>BBG000BPS2C3</figi>
    <value>366184</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1300</Sole>
      <Shared>1300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Celestica Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>15101Q207</cusip>
    <figi>BBG000BPS2C3</figi>
    <value>4253368</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15100</Sole>
      <Shared>15100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Celldex Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>15117B202</cusip>
    <figi>BBG000FW8LZ9</figi>
    <value>1122666</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35393</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35393</Sole>
      <Shared>35393</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cellebrite Di Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>M2197Q107</cusip>
    <figi>BBG000BK00N6</figi>
    <value>2088194</value>
    <shrsOrPrnAmt>
      <sshPrnamt>151538</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>151538</Sole>
      <Shared>151538</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Celsius Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>15118V207</cusip>
    <figi>BBG000NY37X4</figi>
    <value>1410259</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39748</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39748</Sole>
      <Shared>39748</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Celsius Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>15118V207</cusip>
    <figi>BBG000NY37X4</figi>
    <value>1511448</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42600</Sole>
      <Shared>42600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Celsius Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>15118V207</cusip>
    <figi>BBG000NY37X4</figi>
    <value>4254052</value>
    <shrsOrPrnAmt>
      <sshPrnamt>119900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>119900</Sole>
      <Shared>119900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cemex Sab De Cv - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>151290889</cusip>
    <figi>BBG000BPCTB2</figi>
    <value>795618</value>
    <shrsOrPrnAmt>
      <sshPrnamt>69547</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>69547</Sole>
      <Shared>69547</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cencora Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>03073E105</cusip>
    <figi>BBG000MDCQC2</figi>
    <value>7163963</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22805</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22805</Sole>
      <Shared>22805</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cencora Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>03073E105</cusip>
    <figi>BBG000MDCQC2</figi>
    <value>10712174</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34100</Sole>
      <Shared>34100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cenovus Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>15135U109</cusip>
    <figi>BBG000PSJP22</figi>
    <value>1130178</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42600</Sole>
      <Shared>42600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Centene Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>15135B101</cusip>
    <figi>BBG000BDXCJ5</figi>
    <value>54136638</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1653532</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1653532</Sole>
      <Shared>1653532</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Centene Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>15135B101</cusip>
    <figi>BBG000BDXCJ5</figi>
    <value>314304</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9600</Sole>
      <Shared>9600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Centene Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>15135B101</cusip>
    <figi>BBG000BDXCJ5</figi>
    <value>1178640</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36000</Sole>
      <Shared>36000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Centerpoint Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>15189T107</cusip>
    <figi>BBG000FDBX90</figi>
    <value>267592</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6200</Sole>
      <Shared>6200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Central Bancompany Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>152413100</cusip>
    <figi>BBG000CQ0CD7</figi>
    <value>1276008</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53278</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>53278</Sole>
      <Shared>53278</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Central Garden &amp; Pet Company</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>153527106</cusip>
    <figi>BBG000BFD605</figi>
    <value>2664097</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72453</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>72453</Sole>
      <Shared>72453</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Central Garden &amp; Pet Company - A</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>153527205</cusip>
    <figi>BBG000KTYB56</figi>
    <value>7002947</value>
    <shrsOrPrnAmt>
      <sshPrnamt>216007</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>216007</Sole>
      <Shared>216007</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Central Pacific Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>154760409</cusip>
    <figi>BBG000BG4LG3</figi>
    <value>1189168</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37208</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37208</Sole>
      <Shared>37208</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Centrus Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>15643U104</cusip>
    <figi>BBG000BQ2JM1</figi>
    <value>746437</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4300</Sole>
      <Shared>4300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Centuri Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>155923105</cusip>
    <figi>BBG01M4ZP8Y6</figi>
    <value>3924948</value>
    <shrsOrPrnAmt>
      <sshPrnamt>134370</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>134370</Sole>
      <Shared>134370</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Century Aluminum Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>156431108</cusip>
    <figi>BBG000BW1LS8</figi>
    <value>16383959</value>
    <shrsOrPrnAmt>
      <sshPrnamt>279161</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>279161</Sole>
      <Shared>279161</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Century Aluminum Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>156431108</cusip>
    <figi>BBG000BW1LS8</figi>
    <value>469520</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8000</Sole>
      <Shared>8000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cerence Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>156727109</cusip>
    <figi>BBG00MMDJG84</figi>
    <value>2156790</value>
    <shrsOrPrnAmt>
      <sshPrnamt>341805</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>341805</Sole>
      <Shared>341805</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ceribell Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>15678C102</cusip>
    <figi>BBG00KMSVGN4</figi>
    <value>522148</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28486</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28486</Sole>
      <Shared>28486</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ceva Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>157210105</cusip>
    <figi>BBG000BN3P07</figi>
    <value>292716</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15670</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15670</Sole>
      <Shared>15670</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cf Industries Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>125269100</cusip>
    <figi>BBG000BWJFZ4</figi>
    <value>11364376</value>
    <shrsOrPrnAmt>
      <sshPrnamt>87526</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>87526</Sole>
      <Shared>87526</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cf Industries Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>125269100</cusip>
    <figi>BBG000BWJFZ4</figi>
    <value>2661720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20500</Sole>
      <Shared>20500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cf Industries Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>125269100</cusip>
    <figi>BBG000BWJFZ4</figi>
    <value>6855552</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52800</Sole>
      <Shared>52800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ch Robinson Worldwide Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>12541W209</cusip>
    <figi>BBG000BTCH57</figi>
    <value>1473539</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8873</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8873</Sole>
      <Shared>8873</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ch Robinson Worldwide Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>12541W209</cusip>
    <figi>BBG000BTCH57</figi>
    <value>2756762</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16600</Sole>
      <Shared>16600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ch Robinson Worldwide Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>12541W209</cusip>
    <figi>BBG000BTCH57</figi>
    <value>2740155</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16500</Sole>
      <Shared>16500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Charles River Laboratories International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>159864107</cusip>
    <figi>BBG000BG5BL8</figi>
    <value>241500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1400</Sole>
      <Shared>1400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Charles River Laboratories International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>159864107</cusip>
    <figi>BBG000BG5BL8</figi>
    <value>707250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4100</Sole>
      <Shared>4100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Charles Schwab Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>808513105</cusip>
    <figi>BBG000BSLZY7</figi>
    <value>24434800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>260000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>260000</Sole>
      <Shared>260000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Charles Schwab Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>808513105</cusip>
    <figi>BBG000BSLZY7</figi>
    <value>639064</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6800</Sole>
      <Shared>6800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Charles Schwab Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>808513105</cusip>
    <figi>BBG000BSLZY7</figi>
    <value>7875524</value>
    <shrsOrPrnAmt>
      <sshPrnamt>83800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>83800</Sole>
      <Shared>83800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chart Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>16115Q308</cusip>
    <figi>BBG000P1K2X6</figi>
    <value>10179130</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49234</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49234</Sole>
      <Shared>49234</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Charter Communications Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>16119P108</cusip>
    <figi>BBG000VPGNR2</figi>
    <value>4568021</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21160</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21160</Sole>
      <Shared>21160</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Charter Communications Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>16119P108</cusip>
    <figi>BBG000VPGNR2</figi>
    <value>1597512</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7400</Sole>
      <Shared>7400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Charter Communications Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>16119P108</cusip>
    <figi>BBG000VPGNR2</figi>
    <value>4296012</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19900</Sole>
      <Shared>19900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chatham Lodging Trust - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>16208T102</cusip>
    <figi>BBG000PT6BR8</figi>
    <value>951979</value>
    <shrsOrPrnAmt>
      <sshPrnamt>120963</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>120963</Sole>
      <Shared>120963</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Check Point Software Technologies Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M22465104</cusip>
    <figi>BBG000K82ZT8</figi>
    <value>928525</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6500</Sole>
      <Shared>6500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Check Point Software Technologies Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M22465104</cusip>
    <figi>BBG000K82ZT8</figi>
    <value>671395</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4700</Sole>
      <Shared>4700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cheesecake Factory Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>163072101</cusip>
    <figi>BBG000CS8TM8</figi>
    <value>558450</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10200</Sole>
      <Shared>10200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cheesecake Factory Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>163072101</cusip>
    <figi>BBG000CS8TM8</figi>
    <value>618675</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11300</Sole>
      <Shared>11300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cheesecake Factory Inc/The - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>163072AC5</cusip>
    <figi>BBG01SJXXBC0</figi>
    <value>33602250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33000000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33000000</Sole>
      <Shared>33000000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chemed Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>16359R103</cusip>
    <figi>BBG000C19QW1</figi>
    <value>11727316</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31046</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31046</Sole>
      <Shared>31046</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chemours Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>163851108</cusip>
    <figi>BBG005H82GB2</figi>
    <value>436194</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19800</Sole>
      <Shared>19800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cheniere Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>16411R208</cusip>
    <figi>BBG000C3HSR0</figi>
    <value>3365961</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11862</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11862</Sole>
      <Shared>11862</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cheniere Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>16411R208</cusip>
    <figi>BBG000C3HSR0</figi>
    <value>10272112</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36200</Sole>
      <Shared>36200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cheniere Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>16411R208</cusip>
    <figi>BBG000C3HSR0</figi>
    <value>13109712</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46200</Sole>
      <Shared>46200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chesapeake Utilities Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>165303108</cusip>
    <figi>BBG000G4GKH3</figi>
    <value>209269</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1656</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1656</Sole>
      <Shared>1656</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chevron Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>166764100</cusip>
    <figi>BBG000K4ND22</figi>
    <value>64908047</value>
    <shrsOrPrnAmt>
      <sshPrnamt>313717</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>313717</Sole>
      <Shared>313717</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chevron Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>166764100</cusip>
    <figi>BBG000K4ND22</figi>
    <value>63497610</value>
    <shrsOrPrnAmt>
      <sshPrnamt>306900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>306900</Sole>
      <Shared>306900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chevron Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>166764100</cusip>
    <figi>BBG000K4ND22</figi>
    <value>134402240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>649600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>649600</Sole>
      <Shared>649600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chewy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>16679L109</cusip>
    <figi>BBG00P19DKZ6</figi>
    <value>4262220</value>
    <shrsOrPrnAmt>
      <sshPrnamt>157860</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>157860</Sole>
      <Shared>157860</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chewy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>16679L109</cusip>
    <figi>BBG00P19DKZ6</figi>
    <value>572400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21200</Sole>
      <Shared>21200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chewy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>16679L109</cusip>
    <figi>BBG00P19DKZ6</figi>
    <value>4225500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>156500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>156500</Sole>
      <Shared>156500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chime Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>16935C109</cusip>
    <figi>BBG00QK4M9M3</figi>
    <value>14116876</value>
    <shrsOrPrnAmt>
      <sshPrnamt>753704</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>753704</Sole>
      <Shared>753704</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chime Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>16935C109</cusip>
    <figi>BBG00QK4M9M3</figi>
    <value>601233</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32100</Sole>
      <Shared>32100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chime Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>16935C109</cusip>
    <figi>BBG00QK4M9M3</figi>
    <value>492599</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26300</Sole>
      <Shared>26300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chimera Investment Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>16934Q802</cusip>
    <figi>BBG000PFLGY2</figi>
    <value>818687</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65234</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>65234</Sole>
      <Shared>65234</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>China Yuchai International Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G21082105</cusip>
    <figi>BBG000BLSXG0</figi>
    <value>2084159</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54134</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>54134</Sole>
      <Shared>54134</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chipotle Mexican Grill Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>169656105</cusip>
    <figi>BBG000QX74T1</figi>
    <value>966830</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30204</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30204</Sole>
      <Shared>30204</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chipotle Mexican Grill Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>169656105</cusip>
    <figi>BBG000QX74T1</figi>
    <value>6158724</value>
    <shrsOrPrnAmt>
      <sshPrnamt>192400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>192400</Sole>
      <Shared>192400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chipotle Mexican Grill Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>169656105</cusip>
    <figi>BBG000QX74T1</figi>
    <value>18053640</value>
    <shrsOrPrnAmt>
      <sshPrnamt>564000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>564000</Sole>
      <Shared>564000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chiron Real Estate Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>37954A303</cusip>
    <figi>BBG0027F2B89</figi>
    <value>1743382</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52702</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52702</Sole>
      <Shared>52702</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Choice Hotels International Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>169905106</cusip>
    <figi>BBG000BPBTL2</figi>
    <value>19697810</value>
    <shrsOrPrnAmt>
      <sshPrnamt>190317</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>190317</Sole>
      <Shared>190317</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chord Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>674215207</cusip>
    <figi>BBG00Y7BLHL9</figi>
    <value>355450</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2500</Sole>
      <Shared>2500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Chubb Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H1467J104</cusip>
    <figi>BBG000BR14K5</figi>
    <value>3096335</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9500</Sole>
      <Shared>9500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Churchill Downs Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>171484108</cusip>
    <figi>BBG000BGXMG9</figi>
    <value>14030099</value>
    <shrsOrPrnAmt>
      <sshPrnamt>156185</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>156185</Sole>
      <Shared>156185</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Churchill Downs Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>171484108</cusip>
    <figi>BBG000BGXMG9</figi>
    <value>4671160</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52000</Sole>
      <Shared>52000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cia Siderurgica Nacional Sa - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>20440W105</cusip>
    <figi>BBG000JM98S3</figi>
    <value>38750</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31250</Sole>
      <Shared>31250</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cia Siderurgica Nacional Sa - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>20440W105</cusip>
    <figi>BBG000JM98S3</figi>
    <value>310000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>250000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>250000</Sole>
      <Shared>250000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ciena Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>171779309</cusip>
    <figi>BBG000BP1152</figi>
    <value>463547</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1194</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1194</Sole>
      <Shared>1194</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ciena Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>171779309</cusip>
    <figi>BBG000BP1152</figi>
    <value>11064555</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28500</Sole>
      <Shared>28500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ciena Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>171779309</cusip>
    <figi>BBG000BP1152</figi>
    <value>10598679</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27300</Sole>
      <Shared>27300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cigna Group/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>125523100</cusip>
    <figi>BBG00KXRCDP0</figi>
    <value>4401375</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16500</Sole>
      <Shared>16500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cimpress Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G2143T103</cusip>
    <figi>BBG00R0TMXH1</figi>
    <value>1092591</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14967</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14967</Sole>
      <Shared>14967</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cincinnati Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>172062101</cusip>
    <figi>BBG000BFPK65</figi>
    <value>3625501</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23041</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23041</Sole>
      <Shared>23041</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cintas Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>172908105</cusip>
    <figi>BBG000H3YXF8</figi>
    <value>30690622</value>
    <shrsOrPrnAmt>
      <sshPrnamt>181451</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>181451</Sole>
      <Shared>181451</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cintas Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>172908105</cusip>
    <figi>BBG000H3YXF8</figi>
    <value>405936</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2400</Sole>
      <Shared>2400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cintas Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>172908105</cusip>
    <figi>BBG000H3YXF8</figi>
    <value>2029680</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12000</Sole>
      <Shared>12000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cipher Digital Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>17253J106</cusip>
    <figi>BBG00XYHY0K2</figi>
    <value>2265969</value>
    <shrsOrPrnAmt>
      <sshPrnamt>176066</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>176066</Sole>
      <Shared>176066</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cipher Digital Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>17253J106</cusip>
    <figi>BBG00XYHY0K2</figi>
    <value>3446586</value>
    <shrsOrPrnAmt>
      <sshPrnamt>267800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>267800</Sole>
      <Shared>267800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cipher Digital Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>17253J106</cusip>
    <figi>BBG00XYHY0K2</figi>
    <value>700128</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>54400</Sole>
      <Shared>54400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Circle Internet Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>172573107</cusip>
    <figi>BBG01T61V2V3</figi>
    <value>30712479</value>
    <shrsOrPrnAmt>
      <sshPrnamt>321900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>321900</Sole>
      <Shared>321900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Circle Internet Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>172573107</cusip>
    <figi>BBG01T61V2V3</figi>
    <value>30760184</value>
    <shrsOrPrnAmt>
      <sshPrnamt>322400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>322400</Sole>
      <Shared>322400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cisco Systems Inc/Delaware - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>17275R102</cusip>
    <figi>BBG000C3J3C9</figi>
    <value>7026550</value>
    <shrsOrPrnAmt>
      <sshPrnamt>90560</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>90560</Sole>
      <Shared>90560</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cisco Systems Inc/Delaware - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>17275R102</cusip>
    <figi>BBG000C3J3C9</figi>
    <value>16487875</value>
    <shrsOrPrnAmt>
      <sshPrnamt>212500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>212500</Sole>
      <Shared>212500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cisco Systems Inc/Delaware - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>17275R102</cusip>
    <figi>BBG000C3J3C9</figi>
    <value>75844225</value>
    <shrsOrPrnAmt>
      <sshPrnamt>977500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>977500</Sole>
      <Shared>977500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Citigroup Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>172967424</cusip>
    <figi>BBG000FY4S11</figi>
    <value>28997576</value>
    <shrsOrPrnAmt>
      <sshPrnamt>255688</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>255688</Sole>
      <Shared>255688</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Citigroup Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>172967424</cusip>
    <figi>BBG000FY4S11</figi>
    <value>20130275</value>
    <shrsOrPrnAmt>
      <sshPrnamt>177500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>177500</Sole>
      <Shared>177500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Citigroup Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>172967424</cusip>
    <figi>BBG000FY4S11</figi>
    <value>39772887</value>
    <shrsOrPrnAmt>
      <sshPrnamt>350700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>350700</Sole>
      <Shared>350700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Citizens Financial Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>174610105</cusip>
    <figi>BBG006Q0HY77</figi>
    <value>5865066</value>
    <shrsOrPrnAmt>
      <sshPrnamt>97800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>97800</Sole>
      <Shared>97800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Citizens Financial Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>174610105</cusip>
    <figi>BBG006Q0HY77</figi>
    <value>2326836</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38800</Sole>
      <Shared>38800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>City Holding Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>177835105</cusip>
    <figi>BBG000BFJFX3</figi>
    <value>10173662</value>
    <shrsOrPrnAmt>
      <sshPrnamt>85121</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>85121</Sole>
      <Shared>85121</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Claros Mortgage Trust Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>18270D106</cusip>
    <figi>BBG00PT33805</figi>
    <value>43511</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18282</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18282</Sole>
      <Shared>18282</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Clean Energy Fuels Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>184499101</cusip>
    <figi>BBG000J5J943</figi>
    <value>985302</value>
    <shrsOrPrnAmt>
      <sshPrnamt>397299</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>397299</Sole>
      <Shared>397299</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cleanspark Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>18452B209</cusip>
    <figi>BBG001MB89V6</figi>
    <value>1777739</value>
    <shrsOrPrnAmt>
      <sshPrnamt>208900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>208900</Sole>
      <Shared>208900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cleanspark Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>18452B209</cusip>
    <figi>BBG001MB89V6</figi>
    <value>331039</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38900</Sole>
      <Shared>38900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Clear Channel Outdoor Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>18453H106</cusip>
    <figi>BBG000SSC5C9</figi>
    <value>1104569</value>
    <shrsOrPrnAmt>
      <sshPrnamt>466063</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>466063</Sole>
      <Shared>466063</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Clear Secure Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>18467V109</cusip>
    <figi>BBG011C0FS40</figi>
    <value>3364495</value>
    <shrsOrPrnAmt>
      <sshPrnamt>69500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>69500</Sole>
      <Shared>69500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Clearfield Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>18482P103</cusip>
    <figi>BBG000BC35R6</figi>
    <value>2208154</value>
    <shrsOrPrnAmt>
      <sshPrnamt>83421</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>83421</Sole>
      <Shared>83421</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Clearpoint Neuro Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>18507C103</cusip>
    <figi>BBG000Q39HV3</figi>
    <value>1428436</value>
    <shrsOrPrnAmt>
      <sshPrnamt>156971</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>156971</Sole>
      <Shared>156971</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Clearwater Paper Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>18538R103</cusip>
    <figi>BBG000JY3FM3</figi>
    <value>241958</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16826</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16826</Sole>
      <Shared>16826</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Clearwater Paper Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>18538R103</cusip>
    <figi>BBG000JY3FM3</figi>
    <value>145238</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10100</Sole>
      <Shared>10100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Clearway Energy Inc - US Class C</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>18539C204</cusip>
    <figi>BBG008LJ4TF3</figi>
    <value>236133</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6010</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6010</Sole>
      <Shared>6010</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cleveland-Cliffs Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>185899101</cusip>
    <figi>BBG000BFRF55</figi>
    <value>30907168</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3657653</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3657653</Sole>
      <Shared>3657653</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cleveland-Cliffs Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>185899101</cusip>
    <figi>BBG000BFRF55</figi>
    <value>100555</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11900</Sole>
      <Shared>11900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Clorox Co/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>189054109</cusip>
    <figi>BBG000BFS7D3</figi>
    <value>8719221</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84138</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>84138</Sole>
      <Shared>84138</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Clorox Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>189054109</cusip>
    <figi>BBG000BFS7D3</figi>
    <value>8010599</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>77300</Sole>
      <Shared>77300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Clorox Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>189054109</cusip>
    <figi>BBG000BFS7D3</figi>
    <value>14000413</value>
    <shrsOrPrnAmt>
      <sshPrnamt>135100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>135100</Sole>
      <Shared>135100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cloudflare Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>18915M107</cusip>
    <figi>BBG001WMKHH5</figi>
    <value>4436310</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21500</Sole>
      <Shared>21500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cloudflare Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>18915M107</cusip>
    <figi>BBG001WMKHH5</figi>
    <value>8480574</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41100</Sole>
      <Shared>41100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Clover Health Investments Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>18914F103</cusip>
    <figi>BBG00SHY90J5</figi>
    <value>336795</value>
    <shrsOrPrnAmt>
      <sshPrnamt>191361</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>191361</Sole>
      <Shared>191361</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CMB Tech NV - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>B38564108</cusip>
    <figi>BBG00805YZG8</figi>
    <value>172040</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13600</Sole>
      <Shared>13600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cme Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>12572Q105</cusip>
    <figi>BBG000BHLYP4</figi>
    <value>47594176</value>
    <shrsOrPrnAmt>
      <sshPrnamt>161145</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>OTR</investmentDiscretion>
    <votingAuthority>
      <Sole>161145</Sole>
      <Shared>116145</Shared>
      <None>45000</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cme Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>12572Q105</cusip>
    <figi>BBG000BHLYP4</figi>
    <value>679305</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2300</Sole>
      <Shared>2300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cme Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>12572Q105</cusip>
    <figi>BBG000BHLYP4</figi>
    <value>3455595</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11700</Sole>
      <Shared>11700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cnh Industrial Nv - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N20944109</cusip>
    <figi>BBG0059JSF49</figi>
    <value>440000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40000</Sole>
      <Shared>40000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cno Financial Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>12621E103</cusip>
    <figi>BBG000Q1GK24</figi>
    <value>18450475</value>
    <shrsOrPrnAmt>
      <sshPrnamt>449354</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>449354</Sole>
      <Shared>449354</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cnx Resources Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>12653C108</cusip>
    <figi>BBG000CKVSG8</figi>
    <value>22922909</value>
    <shrsOrPrnAmt>
      <sshPrnamt>594628</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>594628</Sole>
      <Shared>594628</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coca-Cola Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>191216100</cusip>
    <figi>BBG000BMX289</figi>
    <value>10319985</value>
    <shrsOrPrnAmt>
      <sshPrnamt>135700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>135700</Sole>
      <Shared>135700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coca-Cola Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>191216100</cusip>
    <figi>BBG000BMX289</figi>
    <value>38108655</value>
    <shrsOrPrnAmt>
      <sshPrnamt>501100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>501100</Sole>
      <Shared>501100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coca-Cola Europacific Partners Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G25839104</cusip>
    <figi>BBG00B6BFWH9</figi>
    <value>2315168</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25534</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25534</Sole>
      <Shared>25534</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Codexis Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>192005106</cusip>
    <figi>BBG000RN0GZ5</figi>
    <value>876668</value>
    <shrsOrPrnAmt>
      <sshPrnamt>537833</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>537833</Sole>
      <Shared>537833</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coeur Mining Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>192108504</cusip>
    <figi>BBG000BF8TF5</figi>
    <value>219496</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11694</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11694</Sole>
      <Shared>11694</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coeur Mining Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>192108504</cusip>
    <figi>BBG000BF8TF5</figi>
    <value>568731</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30300</Sole>
      <Shared>30300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coeur Mining Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>192108504</cusip>
    <figi>BBG000BF8TF5</figi>
    <value>4208234</value>
    <shrsOrPrnAmt>
      <sshPrnamt>224200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>224200</Sole>
      <Shared>224200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cogent Biosciences Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>19240Q201</cusip>
    <figi>BBG007DHZQR7</figi>
    <value>1046928</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27200</Sole>
      <Shared>27200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cogent Communications Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>19239V302</cusip>
    <figi>BBG000D0SMY8</figi>
    <value>2631797</value>
    <shrsOrPrnAmt>
      <sshPrnamt>139692</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>139692</Sole>
      <Shared>139692</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cogent Communications Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>19239V302</cusip>
    <figi>BBG000D0SMY8</figi>
    <value>284484</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15100</Sole>
      <Shared>15100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cognex Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>192422103</cusip>
    <figi>BBG000BPBVW5</figi>
    <value>4680113</value>
    <shrsOrPrnAmt>
      <sshPrnamt>95532</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>95532</Sole>
      <Shared>95532</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cognex Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>192422103</cusip>
    <figi>BBG000BPBVW5</figi>
    <value>367425</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7500</Sole>
      <Shared>7500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cognex Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>192422103</cusip>
    <figi>BBG000BPBVW5</figi>
    <value>220455</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4500</Sole>
      <Shared>4500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cognizant Technology Solutions Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>192446102</cusip>
    <figi>BBG000BBDV81</figi>
    <value>2852775</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46500</Sole>
      <Shared>46500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cohen &amp; Steers Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>19247A100</cusip>
    <figi>BBG000BB0WG4</figi>
    <value>725643</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11601</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11601</Sole>
      <Shared>11601</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coherent Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>19247G107</cusip>
    <figi>BBG000BLW102</figi>
    <value>5887598</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24716</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24716</Sole>
      <Shared>24716</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coherent Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>19247G107</cusip>
    <figi>BBG000BLW102</figi>
    <value>1453081</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6100</Sole>
      <Shared>6100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coherent Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>19247G107</cusip>
    <figi>BBG000BLW102</figi>
    <value>6145818</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25800</Sole>
      <Shared>25800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coinbase Global Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>19260Q107</cusip>
    <figi>BBG00ZGF7771</figi>
    <value>1746100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10000</Sole>
      <Shared>10000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coinbase Global Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>19260Q107</cusip>
    <figi>BBG00ZGF7771</figi>
    <value>46254189</value>
    <shrsOrPrnAmt>
      <sshPrnamt>264900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>264900</Sole>
      <Shared>264900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coinbase Global Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>19260Q107</cusip>
    <figi>BBG00ZGF7771</figi>
    <value>56626023</value>
    <shrsOrPrnAmt>
      <sshPrnamt>324300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>324300</Sole>
      <Shared>324300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Colgate-Palmolive Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>194162103</cusip>
    <figi>BBG000BFQYY3</figi>
    <value>3639321</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42700</Sole>
      <Shared>42700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Colgate-Palmolive Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>194162103</cusip>
    <figi>BBG000BFQYY3</figi>
    <value>5088231</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>59700</Sole>
      <Shared>59700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Collegium Pharmaceutical Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>19459J104</cusip>
    <figi>BBG000N7LPW4</figi>
    <value>461525</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13956</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13956</Sole>
      <Shared>13956</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Columbia Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>197641103</cusip>
    <figi>BBG003222R31</figi>
    <value>1946517</value>
    <shrsOrPrnAmt>
      <sshPrnamt>111166</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>111166</Sole>
      <Shared>111166</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Columbia Sportswear Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>198516106</cusip>
    <figi>BBG000BKKQ84</figi>
    <value>3403701</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>62100</Sole>
      <Shared>62100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Comcast Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>20030N101</cusip>
    <figi>BBG000BFT2L4</figi>
    <value>27625307</value>
    <shrsOrPrnAmt>
      <sshPrnamt>962219</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>962219</Sole>
      <Shared>962219</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Comcast Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>20030N101</cusip>
    <figi>BBG000BFT2L4</figi>
    <value>4332339</value>
    <shrsOrPrnAmt>
      <sshPrnamt>150900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>150900</Sole>
      <Shared>150900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Comcast Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>20030N101</cusip>
    <figi>BBG000BFT2L4</figi>
    <value>3755268</value>
    <shrsOrPrnAmt>
      <sshPrnamt>130800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>130800</Sole>
      <Shared>130800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Comfort Systems Usa Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>199908104</cusip>
    <figi>BBG000BWN2Y9</figi>
    <value>266145</value>
    <shrsOrPrnAmt>
      <sshPrnamt>193</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>193</Sole>
      <Shared>193</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Comfort Systems Usa Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>199908104</cusip>
    <figi>BBG000BWN2Y9</figi>
    <value>2482182</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1800</Sole>
      <Shared>1800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Comfort Systems Usa Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>199908104</cusip>
    <figi>BBG000BWN2Y9</figi>
    <value>1930586</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1400</Sole>
      <Shared>1400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Commerce.com Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>08975P108</cusip>
    <figi>BBG00W1PSSJ0</figi>
    <value>196507</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73598</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>73598</Sole>
      <Shared>73598</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Community Healthcare Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>20369C106</cusip>
    <figi>BBG008G2P3M2</figi>
    <value>1135309</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71448</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>71448</Sole>
      <Shared>71448</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Community Trust Bancorp Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>204149108</cusip>
    <figi>BBG000F4J227</figi>
    <value>1153801</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19002</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19002</Sole>
      <Shared>19002</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Commvault Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>204166102</cusip>
    <figi>BBG000BG88X9</figi>
    <value>264826</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3400</Sole>
      <Shared>3400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Compass Diversified Holdings - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>20451Q104</cusip>
    <figi>BBG000L35KD5</figi>
    <value>3622650</value>
    <shrsOrPrnAmt>
      <sshPrnamt>460897</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>460897</Sole>
      <Shared>460897</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Compass Diversified Holdings - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>20451Q104</cusip>
    <figi>BBG000L35KD5</figi>
    <value>213792</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27200</Sole>
      <Shared>27200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Compass Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>20464U100</cusip>
    <figi>BBG00J5SXTH3</figi>
    <value>733924</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100400</Sole>
      <Shared>100400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Compass Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>20464U100</cusip>
    <figi>BBG00J5SXTH3</figi>
    <value>231727</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31700</Sole>
      <Shared>31700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Compass Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>20454B104</cusip>
    <figi>BBG00LPXKF25</figi>
    <value>470445</value>
    <shrsOrPrnAmt>
      <sshPrnamt>88931</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>88931</Sole>
      <Shared>88931</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Comstock Resources Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>205768302</cusip>
    <figi>BBG000DNBK89</figi>
    <value>2323332</value>
    <shrsOrPrnAmt>
      <sshPrnamt>110215</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>110215</Sole>
      <Shared>110215</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Comstock Resources Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>205768302</cusip>
    <figi>BBG000DNBK89</figi>
    <value>436356</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20700</Sole>
      <Shared>20700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Conagra Brands Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>205887102</cusip>
    <figi>BBG000BDXGP9</figi>
    <value>3831577</value>
    <shrsOrPrnAmt>
      <sshPrnamt>243739</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>243739</Sole>
      <Shared>243739</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Conagra Brands Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>205887102</cusip>
    <figi>BBG000BDXGP9</figi>
    <value>1735488</value>
    <shrsOrPrnAmt>
      <sshPrnamt>110400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>110400</Sole>
      <Shared>110400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Conagra Brands Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>205887102</cusip>
    <figi>BBG000BDXGP9</figi>
    <value>2104908</value>
    <shrsOrPrnAmt>
      <sshPrnamt>133900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>133900</Sole>
      <Shared>133900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Conduent Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>206787103</cusip>
    <figi>BBG00C1BZMT9</figi>
    <value>23124</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18066</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18066</Sole>
      <Shared>18066</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Conocophillips - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>20825C104</cusip>
    <figi>BBG000BQQH30</figi>
    <value>2719200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20600</Sole>
      <Shared>20600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Conocophillips - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>20825C104</cusip>
    <figi>BBG000BQQH30</figi>
    <value>43124400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>326700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>326700</Sole>
      <Shared>326700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Consolidated Edison Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>209115104</cusip>
    <figi>BBG000BHLYS1</figi>
    <value>667762</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5900</Sole>
      <Shared>5900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Consolidated Water Co Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G23773107</cusip>
    <figi>BBG000K8PTB6</figi>
    <value>986479</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29785</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29785</Sole>
      <Shared>29785</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Constellation Brands Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>21036P108</cusip>
    <figi>BBG000J1QLT0</figi>
    <value>4845000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32300</Sole>
      <Shared>32300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Constellation Brands Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>21036P108</cusip>
    <figi>BBG000J1QLT0</figi>
    <value>17520000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>116800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>116800</Sole>
      <Shared>116800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Constellation Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>21037T109</cusip>
    <figi>BBG014KFRNP7</figi>
    <value>1396250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5000</Sole>
      <Shared>5000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Constellation Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>21037T109</cusip>
    <figi>BBG014KFRNP7</figi>
    <value>33733400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>120800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>120800</Sole>
      <Shared>120800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Construction Partners Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>21044C107</cusip>
    <figi>BBG00KK0CFX9</figi>
    <value>3049911</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27447</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27447</Sole>
      <Shared>27447</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cooper Cos Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>216648501</cusip>
    <figi>BBG000BG3445</figi>
    <value>13656143</value>
    <shrsOrPrnAmt>
      <sshPrnamt>190995</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>190995</Sole>
      <Shared>190995</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cooper-Standard Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>21676P103</cusip>
    <figi>BBG000PSXT64</figi>
    <value>389065</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13960</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13960</Sole>
      <Shared>13960</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Copa Holdings Sa - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>P31076105</cusip>
    <figi>BBG000C29813</figi>
    <value>9505862</value>
    <shrsOrPrnAmt>
      <sshPrnamt>83671</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>83671</Sole>
      <Shared>83671</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Copa Holdings Sa - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>P31076105</cusip>
    <figi>BBG000C29813</figi>
    <value>374913</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3300</Sole>
      <Shared>3300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Copa Holdings Sa - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>P31076105</cusip>
    <figi>BBG000C29813</figi>
    <value>318108</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2800</Sole>
      <Shared>2800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Copart Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>217204106</cusip>
    <figi>BBG000BM9RH1</figi>
    <value>5230627</value>
    <shrsOrPrnAmt>
      <sshPrnamt>157549</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>157549</Sole>
      <Shared>157549</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Copart Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>217204106</cusip>
    <figi>BBG000BM9RH1</figi>
    <value>859880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25900</Sole>
      <Shared>25900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Copart Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>217204106</cusip>
    <figi>BBG000BM9RH1</figi>
    <value>1958800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>59000</Sole>
      <Shared>59000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Corcept Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>218352102</cusip>
    <figi>BBG000BKJG33</figi>
    <value>1044674</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25916</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25916</Sole>
      <Shared>25916</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Corcept Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>218352102</cusip>
    <figi>BBG000BKJG33</figi>
    <value>524030</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13000</Sole>
      <Shared>13000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Corcept Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>218352102</cusip>
    <figi>BBG000BKJG33</figi>
    <value>624805</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15500</Sole>
      <Shared>15500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Core &amp; Main Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>21874C102</cusip>
    <figi>BBG01163K2X0</figi>
    <value>20478968</value>
    <shrsOrPrnAmt>
      <sshPrnamt>414554</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>414554</Sole>
      <Shared>414554</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Core Natural Resources Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>218937100</cusip>
    <figi>BBG00HC114X0</figi>
    <value>471285</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4500</Sole>
      <Shared>4500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Core Scientific Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>21874A106</cusip>
    <figi>BBG01L5GH011</figi>
    <value>1769155</value>
    <shrsOrPrnAmt>
      <sshPrnamt>118259</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>118259</Sole>
      <Shared>118259</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Core Scientific Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>21874A106</cusip>
    <figi>BBG01L5GH011</figi>
    <value>175032</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11700</Sole>
      <Shared>11700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Core Scientific Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>21874A106</cusip>
    <figi>BBG01L5GH011</figi>
    <value>1317976</value>
    <shrsOrPrnAmt>
      <sshPrnamt>88100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>88100</Sole>
      <Shared>88100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Corecivic Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>21871N101</cusip>
    <figi>BBG000BJSJT2</figi>
    <value>6057194</value>
    <shrsOrPrnAmt>
      <sshPrnamt>320317</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>320317</Sole>
      <Shared>320317</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Corecivic Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>21871N101</cusip>
    <figi>BBG000BJSJT2</figi>
    <value>476532</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25200</Sole>
      <Shared>25200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coreweave Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>21873S108</cusip>
    <figi>BBG011ZTRJ21</figi>
    <value>21823299</value>
    <shrsOrPrnAmt>
      <sshPrnamt>281700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>281700</Sole>
      <Shared>281700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coreweave Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>21873S108</cusip>
    <figi>BBG011ZTRJ21</figi>
    <value>24557990</value>
    <shrsOrPrnAmt>
      <sshPrnamt>317000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>317000</Sole>
      <Shared>317000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Corning Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>219350105</cusip>
    <figi>BBG000BKFZM4</figi>
    <value>22675445</value>
    <shrsOrPrnAmt>
      <sshPrnamt>166768</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>166768</Sole>
      <Shared>166768</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Corning Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>219350105</cusip>
    <figi>BBG000BKFZM4</figi>
    <value>148003345</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1088500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1088500</Sole>
      <Shared>1088500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Corning Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>219350105</cusip>
    <figi>BBG000BKFZM4</figi>
    <value>42599401</value>
    <shrsOrPrnAmt>
      <sshPrnamt>313300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>313300</Sole>
      <Shared>313300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Corp America Airports Sa - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>L1995B107</cusip>
    <figi>BBG00JFCJ889</figi>
    <value>486453</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19235</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19235</Sole>
      <Shared>19235</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Corteva Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>22052L104</cusip>
    <figi>BBG00BN969C1</figi>
    <value>284614</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3400</Sole>
      <Shared>3400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Corvel Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>221006109</cusip>
    <figi>BBG000CVKZY0</figi>
    <value>1149781</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21039</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21039</Sole>
      <Shared>21039</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Corvus Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>221015100</cusip>
    <figi>BBG009F0TGH8</figi>
    <value>402237</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27494</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27494</Sole>
      <Shared>27494</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Costar Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>22160N109</cusip>
    <figi>BBG000D7JKW9</figi>
    <value>7232276</value>
    <shrsOrPrnAmt>
      <sshPrnamt>179283</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>179283</Sole>
      <Shared>179283</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Costar Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>22160N109</cusip>
    <figi>BBG000D7JKW9</figi>
    <value>2884310</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>71500</Sole>
      <Shared>71500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Costar Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>22160N109</cusip>
    <figi>BBG000D7JKW9</figi>
    <value>5413628</value>
    <shrsOrPrnAmt>
      <sshPrnamt>134200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>134200</Sole>
      <Shared>134200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Costco Wholesale Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>22160K105</cusip>
    <figi>BBG000F6H8W8</figi>
    <value>16952264</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17013</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17013</Sole>
      <Shared>17013</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Costco Wholesale Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>22160K105</cusip>
    <figi>BBG000F6H8W8</figi>
    <value>5779294</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5800</Sole>
      <Shared>5800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Costco Wholesale Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>22160K105</cusip>
    <figi>BBG000F6H8W8</figi>
    <value>43344705</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43500</Sole>
      <Shared>43500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coterra Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>127097103</cusip>
    <figi>BBG000C3GN47</figi>
    <value>935075</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26610</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26610</Sole>
      <Shared>26610</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coterra Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>127097103</cusip>
    <figi>BBG000C3GN47</figi>
    <value>2533594</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>72100</Sole>
      <Shared>72100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coterra Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>127097103</cusip>
    <figi>BBG000C3GN47</figi>
    <value>4719302</value>
    <shrsOrPrnAmt>
      <sshPrnamt>134300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>134300</Sole>
      <Shared>134300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coupang Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>22266T109</cusip>
    <figi>BBG00XMJRPQ8</figi>
    <value>1574592</value>
    <shrsOrPrnAmt>
      <sshPrnamt>83400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>83400</Sole>
      <Shared>83400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Coupang Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>22266T109</cusip>
    <figi>BBG00XMJRPQ8</figi>
    <value>3834528</value>
    <shrsOrPrnAmt>
      <sshPrnamt>203100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>203100</Sole>
      <Shared>203100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cousins Properties Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>222795502</cusip>
    <figi>BBG000CW9BM7</figi>
    <value>980960</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43463</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43463</Sole>
      <Shared>43463</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Covenant Logistics Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>22284P105</cusip>
    <figi>BBG000DNYKG5</figi>
    <value>1995742</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73508</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>73508</Sole>
      <Shared>73508</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cra International Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>12618T105</cusip>
    <figi>BBG000C1LZX6</figi>
    <value>4297590</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26548</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26548</Sole>
      <Shared>26548</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cracker Barrel Old Country Store Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>22410J106</cusip>
    <figi>BBG000BF33K1</figi>
    <value>1298682</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46200</Sole>
      <Shared>46200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cracker Barrel Old Country Store Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>22410J106</cusip>
    <figi>BBG000BF33K1</figi>
    <value>1174998</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41800</Sole>
      <Shared>41800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crane Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>224408104</cusip>
    <figi>BBG016G0L0Q5</figi>
    <value>2844756</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16636</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16636</Sole>
      <Shared>16636</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crane NXT Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>224441105</cusip>
    <figi>BBG017BXPZ85</figi>
    <value>7412262</value>
    <shrsOrPrnAmt>
      <sshPrnamt>182613</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>182613</Sole>
      <Shared>182613</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Credit Acceptance Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>225310101</cusip>
    <figi>BBG000CS0D96</figi>
    <value>254076</value>
    <shrsOrPrnAmt>
      <sshPrnamt>600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>600</Sole>
      <Shared>600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Credo Technology Group Holding Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G25457105</cusip>
    <figi>BBG00T68J2G0</figi>
    <value>5985339</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63762</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>63762</Sole>
      <Shared>63762</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Credo Technology Group Holding Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G25457105</cusip>
    <figi>BBG00T68J2G0</figi>
    <value>901152</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9600</Sole>
      <Shared>9600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Credo Technology Group Holding Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G25457105</cusip>
    <figi>BBG00T68J2G0</figi>
    <value>3914379</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41700</Sole>
      <Shared>41700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crh Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G25508105</cusip>
    <figi>BBG000D3JXM1</figi>
    <value>1734585</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16501</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16501</Sole>
      <Shared>16501</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crh Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G25508105</cusip>
    <figi>BBG000D3JXM1</figi>
    <value>462528</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4400</Sole>
      <Shared>4400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crh Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G25508105</cusip>
    <figi>BBG000D3JXM1</figi>
    <value>2743632</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26100</Sole>
      <Shared>26100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crinetics Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>22663K107</cusip>
    <figi>BBG00BC59224</figi>
    <value>1671483</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46021</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46021</Sole>
      <Shared>46021</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crispr Therapeutics Ag - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>H17182108</cusip>
    <figi>BBG00DBBGRX1</figi>
    <value>2065061</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43411</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43411</Sole>
      <Shared>43411</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crispr Therapeutics Ag - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H17182108</cusip>
    <figi>BBG00DBBGRX1</figi>
    <value>1113138</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23400</Sole>
      <Shared>23400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crispr Therapeutics Ag - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H17182108</cusip>
    <figi>BBG00DBBGRX1</figi>
    <value>1037026</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21800</Sole>
      <Shared>21800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crocs Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>227046109</cusip>
    <figi>BBG000BLY663</figi>
    <value>2392470</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28818</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28818</Sole>
      <Shared>28818</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crocs Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>227046109</cusip>
    <figi>BBG000BLY663</figi>
    <value>298872</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3600</Sole>
      <Shared>3600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crocs Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>227046109</cusip>
    <figi>BBG000BLY663</figi>
    <value>1203790</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14500</Sole>
      <Shared>14500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cronos Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>22717L101</cusip>
    <figi>BBG00D1PMS80</figi>
    <value>35878</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14294</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14294</Sole>
      <Shared>14294</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crowdstrike Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>22788C105</cusip>
    <figi>BBG00BLYKS03</figi>
    <value>46505249</value>
    <shrsOrPrnAmt>
      <sshPrnamt>119119</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>119119</Sole>
      <Shared>119119</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crowdstrike Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>22788C105</cusip>
    <figi>BBG00BLYKS03</figi>
    <value>12805448</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32800</Sole>
      <Shared>32800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crowdstrike Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>22788C105</cusip>
    <figi>BBG00BLYKS03</figi>
    <value>47317692</value>
    <shrsOrPrnAmt>
      <sshPrnamt>121200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>121200</Sole>
      <Shared>121200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crown Castle Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>22822V101</cusip>
    <figi>BBG000FV1Z23</figi>
    <value>748052</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9200</Sole>
      <Shared>9200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crown Castle Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>22822V101</cusip>
    <figi>BBG000FV1Z23</figi>
    <value>2081536</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25600</Sole>
      <Shared>25600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Crown Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>228368106</cusip>
    <figi>BBG000BF6756</figi>
    <value>23605366</value>
    <shrsOrPrnAmt>
      <sshPrnamt>235465</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>235465</Sole>
      <Shared>235465</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cryoport Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>229050307</cusip>
    <figi>BBG000PNTXP0</figi>
    <value>2907936</value>
    <shrsOrPrnAmt>
      <sshPrnamt>351200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>351200</Sole>
      <Shared>351200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Csx Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>126408103</cusip>
    <figi>BBG000BGJRC8</figi>
    <value>2376795</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57900</Sole>
      <Shared>57900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cts Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>126501105</cusip>
    <figi>BBG000BGMC46</figi>
    <value>2273376</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>47600</Sole>
      <Shared>47600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cubesmart - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>229663109</cusip>
    <figi>BBG000HF28Q9</figi>
    <value>23986729</value>
    <shrsOrPrnAmt>
      <sshPrnamt>654481</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>654481</Sole>
      <Shared>654481</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cullinan Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>230031106</cusip>
    <figi>BBG00HW2DGQ4</figi>
    <value>411919</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28988</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28988</Sole>
      <Shared>28988</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cummins Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>231021106</cusip>
    <figi>BBG000BGPTV6</figi>
    <value>88892202</value>
    <shrsOrPrnAmt>
      <sshPrnamt>165221</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>165221</Sole>
      <Shared>165221</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cummins Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>231021106</cusip>
    <figi>BBG000BGPTV6</figi>
    <value>322812</value>
    <shrsOrPrnAmt>
      <sshPrnamt>600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>600</Sole>
      <Shared>600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cummins Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>231021106</cusip>
    <figi>BBG000BGPTV6</figi>
    <value>2905308</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5400</Sole>
      <Shared>5400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Curbline Properties Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>23128Q101</cusip>
    <figi>BBG01JZB98V3</figi>
    <value>1552094</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60182</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60182</Sole>
      <Shared>60182</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Curtiss-Wright Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>231561101</cusip>
    <figi>BBG000BGSPS5</figi>
    <value>16515117</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24247</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24247</Sole>
      <Shared>24247</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cushman &amp; Wakefield Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G2717C106</cusip>
    <figi>BBG01YRJND81</figi>
    <value>15369161</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1253602</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1253602</Sole>
      <Shared>1253602</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Custom Truck One Source Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>23204X103</cusip>
    <figi>BBG00HLCWDF2</figi>
    <value>1501363</value>
    <shrsOrPrnAmt>
      <sshPrnamt>228518</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>228518</Sole>
      <Shared>228518</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cvb Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>126600105</cusip>
    <figi>BBG000JTYFB2</figi>
    <value>2621799</value>
    <shrsOrPrnAmt>
      <sshPrnamt>135214</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>135214</Sole>
      <Shared>135214</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cvr Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>12662P108</cusip>
    <figi>BBG000QHV8S1</figi>
    <value>14400114</value>
    <shrsOrPrnAmt>
      <sshPrnamt>427938</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>427938</Sole>
      <Shared>427938</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cvr Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>12662P108</cusip>
    <figi>BBG000QHV8S1</figi>
    <value>208630</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6200</Sole>
      <Shared>6200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cvrx Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>126638105</cusip>
    <figi>BBG001B56NX0</figi>
    <value>1866836</value>
    <shrsOrPrnAmt>
      <sshPrnamt>197340</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>197340</Sole>
      <Shared>197340</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cvs Health Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>126650100</cusip>
    <figi>BBG000BGRY34</figi>
    <value>48967307</value>
    <shrsOrPrnAmt>
      <sshPrnamt>681806</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>681806</Sole>
      <Shared>681806</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cvs Health Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>126650100</cusip>
    <figi>BBG000BGRY34</figi>
    <value>2025324</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28200</Sole>
      <Shared>28200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cvs Health Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>126650100</cusip>
    <figi>BBG000BGRY34</figi>
    <value>7268184</value>
    <shrsOrPrnAmt>
      <sshPrnamt>101200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>101200</Sole>
      <Shared>101200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cytek Biosciences Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>23285D109</cusip>
    <figi>BBG00D36Q0Z7</figi>
    <value>1401525</value>
    <shrsOrPrnAmt>
      <sshPrnamt>320715</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>320715</Sole>
      <Shared>320715</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cytokinetics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>23282W605</cusip>
    <figi>BBG000F0R4N9</figi>
    <value>474552</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7200</Sole>
      <Shared>7200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Cytokinetics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>23282W605</cusip>
    <figi>BBG000F0R4N9</figi>
    <value>817284</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12400</Sole>
      <Shared>12400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dakota Gold Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46655E100</cusip>
    <figi>BBG0120W17D2</figi>
    <value>2018727</value>
    <shrsOrPrnAmt>
      <sshPrnamt>399748</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>399748</Sole>
      <Shared>399748</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dana Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>235825205</cusip>
    <figi>BBG000TCD088</figi>
    <value>6575950</value>
    <shrsOrPrnAmt>
      <sshPrnamt>195422</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>195422</Sole>
      <Shared>195422</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Danaher Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>235851102</cusip>
    <figi>BBG000BH3JF8</figi>
    <value>84794998</value>
    <shrsOrPrnAmt>
      <sshPrnamt>447231</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>447231</Sole>
      <Shared>447231</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Danaher Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>235851102</cusip>
    <figi>BBG000BH3JF8</figi>
    <value>549840</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2900</Sole>
      <Shared>2900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Danaher Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>235851102</cusip>
    <figi>BBG000BH3JF8</figi>
    <value>4417680</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23300</Sole>
      <Shared>23300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Darden Restaurants Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>237194105</cusip>
    <figi>BBG000BBNYF6</figi>
    <value>601843</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3070</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3070</Sole>
      <Shared>3070</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Darden Restaurants Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>237194105</cusip>
    <figi>BBG000BBNYF6</figi>
    <value>1940796</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9900</Sole>
      <Shared>9900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Darling Ingredients Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>237266101</cusip>
    <figi>BBG000BN8ZK8</figi>
    <value>27175962</value>
    <shrsOrPrnAmt>
      <sshPrnamt>439385</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>439385</Sole>
      <Shared>439385</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Darling Ingredients Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>237266101</cusip>
    <figi>BBG000BN8ZK8</figi>
    <value>556650</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9000</Sole>
      <Shared>9000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Darling Ingredients Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>237266101</cusip>
    <figi>BBG000BN8ZK8</figi>
    <value>2375040</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38400</Sole>
      <Shared>38400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Datadog Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>23804L103</cusip>
    <figi>BBG003NJHZT9</figi>
    <value>11710560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>99200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>99200</Sole>
      <Shared>99200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Datadog Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>23804L103</cusip>
    <figi>BBG003NJHZT9</figi>
    <value>13516725</value>
    <shrsOrPrnAmt>
      <sshPrnamt>114500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>114500</Sole>
      <Shared>114500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dave &amp; Buster's Entertainment Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>238337109</cusip>
    <figi>BBG001WWJTK5</figi>
    <value>2897859</value>
    <shrsOrPrnAmt>
      <sshPrnamt>267577</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>267577</Sole>
      <Shared>267577</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dave &amp; Buster's Entertainment Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>238337109</cusip>
    <figi>BBG001WWJTK5</figi>
    <value>193857</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17900</Sole>
      <Shared>17900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dave &amp; Buster's Entertainment Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>238337109</cusip>
    <figi>BBG001WWJTK5</figi>
    <value>277248</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25600</Sole>
      <Shared>25600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dave Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>23834J201</cusip>
    <figi>BBG00Z483VQ0</figi>
    <value>1323084</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7600</Sole>
      <Shared>7600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dave Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>23834J201</cusip>
    <figi>BBG00Z483VQ0</figi>
    <value>1009722</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5800</Sole>
      <Shared>5800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Davita Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>23918K108</cusip>
    <figi>BBG000MQ1SN9</figi>
    <value>12282136</value>
    <shrsOrPrnAmt>
      <sshPrnamt>79915</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>79915</Sole>
      <Shared>79915</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Davita Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>23918K108</cusip>
    <figi>BBG000MQ1SN9</figi>
    <value>507177</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3300</Sole>
      <Shared>3300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Davita Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>23918K108</cusip>
    <figi>BBG000MQ1SN9</figi>
    <value>860664</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5600</Sole>
      <Shared>5600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Deckers Outdoor Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>243537107</cusip>
    <figi>BBG000BKXYX5</figi>
    <value>29945226</value>
    <shrsOrPrnAmt>
      <sshPrnamt>299183</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>299183</Sole>
      <Shared>299183</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Deckers Outdoor Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>243537107</cusip>
    <figi>BBG000BKXYX5</figi>
    <value>2782502</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27800</Sole>
      <Shared>27800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Deckers Outdoor Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>243537107</cusip>
    <figi>BBG000BKXYX5</figi>
    <value>6405760</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>64000</Sole>
      <Shared>64000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Deere &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>244199105</cusip>
    <figi>BBG000BH1NH9</figi>
    <value>1408250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2500</Sole>
      <Shared>2500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Deere &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>244199105</cusip>
    <figi>BBG000BH1NH9</figi>
    <value>15209100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27000</Sole>
      <Shared>27000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Defiance Quantum ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>26922A420</cusip>
    <figi>BBG00LWJ39P6</figi>
    <value>1182553</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11021</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11021</Sole>
      <Shared>11021</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Delcath Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>24661P807</cusip>
    <figi>BBG000BY2VF5</figi>
    <value>204327</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22018</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22018</Sole>
      <Shared>22018</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Delek Us Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>24665A103</cusip>
    <figi>BBG00FZYFVC5</figi>
    <value>12026704</value>
    <shrsOrPrnAmt>
      <sshPrnamt>266845</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>266845</Sole>
      <Shared>266845</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Delek Us Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>24665A103</cusip>
    <figi>BBG00FZYFVC5</figi>
    <value>288448</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6400</Sole>
      <Shared>6400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dell Technologies Inc - US Class C</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>24703L202</cusip>
    <figi>BBG00DW3SZS1</figi>
    <value>23644240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>144058</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>144058</Sole>
      <Shared>144058</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dell Technologies Inc - US Class C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>24703L202</cusip>
    <figi>BBG00DW3SZS1</figi>
    <value>9568779</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58300</Sole>
      <Shared>58300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dell Technologies Inc - US Class C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>24703L202</cusip>
    <figi>BBG00DW3SZS1</figi>
    <value>23979393</value>
    <shrsOrPrnAmt>
      <sshPrnamt>146100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>146100</Sole>
      <Shared>146100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Delta Air Lines Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>247361702</cusip>
    <figi>BBG000R7Z112</figi>
    <value>6202584</value>
    <shrsOrPrnAmt>
      <sshPrnamt>93300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>93300</Sole>
      <Shared>93300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Delta Air Lines Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>247361702</cusip>
    <figi>BBG000R7Z112</figi>
    <value>17683680</value>
    <shrsOrPrnAmt>
      <sshPrnamt>266000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>266000</Sole>
      <Shared>266000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Descartes Systems Group Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>249906108</cusip>
    <figi>BBG000CRQW34</figi>
    <value>2297076</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32100</Sole>
      <Shared>32100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Designer Brands Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>250565108</cusip>
    <figi>BBG000CF8227</figi>
    <value>1986459</value>
    <shrsOrPrnAmt>
      <sshPrnamt>349114</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>349114</Sole>
      <Shared>349114</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Deutsche Bank Ag - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>D18190898</cusip>
    <figi>BBG000BR1W32</figi>
    <value>3878488</value>
    <shrsOrPrnAmt>
      <sshPrnamt>130238</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>130238</Sole>
      <Shared>130238</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Deutsche Bank Ag - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>D18190898</cusip>
    <figi>BBG000BR1W32</figi>
    <value>1113772</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37400</Sole>
      <Shared>37400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Deutsche Bank Ag - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>D18190898</cusip>
    <figi>BBG000BR1W32</figi>
    <value>506260</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17000</Sole>
      <Shared>17000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Devon Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25179M103</cusip>
    <figi>BBG000BBVJZ8</figi>
    <value>12811472</value>
    <shrsOrPrnAmt>
      <sshPrnamt>254600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>254600</Sole>
      <Shared>254600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Devon Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25179M103</cusip>
    <figi>BBG000BBVJZ8</figi>
    <value>10738288</value>
    <shrsOrPrnAmt>
      <sshPrnamt>213400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>213400</Sole>
      <Shared>213400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dexcom Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>252131107</cusip>
    <figi>BBG000QTF8K1</figi>
    <value>1218320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19400</Sole>
      <Shared>19400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dexcom Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>252131AM9</cusip>
    <figi>BBG01GHVC2V4</figi>
    <value>63819918</value>
    <shrsOrPrnAmt>
      <sshPrnamt>69150000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>69150000</Sole>
      <Shared>69150000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dht Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>Y2065G121</cusip>
    <figi>BBG000G3RXX7</figi>
    <value>21684225</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1186876</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1186876</Sole>
      <Shared>1186876</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dht Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>Y2065G121</cusip>
    <figi>BBG000G3RXX7</figi>
    <value>1452465</value>
    <shrsOrPrnAmt>
      <sshPrnamt>79500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>79500</Sole>
      <Shared>79500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dht Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>Y2065G121</cusip>
    <figi>BBG000G3RXX7</figi>
    <value>429345</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23500</Sole>
      <Shared>23500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Diageo Plc - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>25243Q205</cusip>
    <figi>BBG000BWZQL7</figi>
    <value>1658448</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22276</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22276</Sole>
      <Shared>22276</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Diageo Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25243Q205</cusip>
    <figi>BBG000BWZQL7</figi>
    <value>1094415</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14700</Sole>
      <Shared>14700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Diageo Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25243Q205</cusip>
    <figi>BBG000BWZQL7</figi>
    <value>4854140</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>65200</Sole>
      <Shared>65200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Diamond Hill Investment Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>25264R207</cusip>
    <figi>BBG000K7DJG8</figi>
    <value>1506391</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8753</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8753</Sole>
      <Shared>8753</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Diamondback Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25278X109</cusip>
    <figi>BBG002PHSYX9</figi>
    <value>8050053</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40700</Sole>
      <Shared>40700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Diamondback Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25278X109</cusip>
    <figi>BBG002PHSYX9</figi>
    <value>6269943</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31700</Sole>
      <Shared>31700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Diamondrock Hospitality Co - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>252784301</cusip>
    <figi>BBG000JKHFP5</figi>
    <value>6183469</value>
    <shrsOrPrnAmt>
      <sshPrnamt>659922</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>659922</Sole>
      <Shared>659922</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dick's Sporting Goods Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>253393102</cusip>
    <figi>BBG000F6ZWH2</figi>
    <value>892305</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4500</Sole>
      <Shared>4500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Digital Realty Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>253868103</cusip>
    <figi>BBG000Q5ZRM7</figi>
    <value>414483</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2300</Sole>
      <Shared>2300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Digital Turbine Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>25400W102</cusip>
    <figi>BBG000HZ3562</figi>
    <value>1753543</value>
    <shrsOrPrnAmt>
      <sshPrnamt>608869</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>608869</Sole>
      <Shared>608869</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Digitalbridge Group Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>25401T603</cusip>
    <figi>BBG00D30HGP6</figi>
    <value>1843168</value>
    <shrsOrPrnAmt>
      <sshPrnamt>119531</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>119531</Sole>
      <Shared>119531</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Digitalocean Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25402D102</cusip>
    <figi>BBG00ZGF6SS3</figi>
    <value>6973914</value>
    <shrsOrPrnAmt>
      <sshPrnamt>81300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>81300</Sole>
      <Shared>81300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Digitalocean Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25402D102</cusip>
    <figi>BBG00ZGF6SS3</figi>
    <value>8071898</value>
    <shrsOrPrnAmt>
      <sshPrnamt>94100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>94100</Sole>
      <Shared>94100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dime Community Bancshares Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>25432X102</cusip>
    <figi>BBG000BGD220</figi>
    <value>1426697</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42185</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42185</Sole>
      <Shared>42185</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dimensional US Small Cap Value ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>25434V815</cusip>
    <figi>BBG015DG3DM1</figi>
    <value>208103</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5939</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5939</Sole>
      <Shared>5939</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Diodes Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>254543101</cusip>
    <figi>BBG000G25P51</figi>
    <value>1023900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15000</Sole>
      <Shared>15000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Diodes Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>254543101</cusip>
    <figi>BBG000G25P51</figi>
    <value>1023900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15000</Sole>
      <Shared>15000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY 20 YR TREA</titleOfClass>
    <cusip>25460G849</cusip>
    <figi>BBG000DW07R9</figi>
    <value>1957664</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52400</Sole>
      <Shared>52400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DIREXION SHARES ETF TRUST</nameOfIssuer>
    <titleOfClass>DAILY 20 YR TREA</titleOfClass>
    <cusip>25460G849</cusip>
    <figi>BBG000DW07R9</figi>
    <value>221507</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5929</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5929</Sole>
      <Shared>5929</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Direxion Daily S&amp;P 500 Bull 3X ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>25459W862</cusip>
    <figi>BBG000JLGQR8</figi>
    <value>413229</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2235</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2235</Sole>
      <Shared>2235</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Direxion Daily Semiconductor Bull 3X ETF - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>25459W458</cusip>
    <figi>BBG000QG1D78</figi>
    <value>4311900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>90000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>90000</Sole>
      <Shared>90000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Direxion Daily Small Cap Bull 3X ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>25459W847</cusip>
    <figi>BBG000JLCF41</figi>
    <value>287330</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6511</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6511</Sole>
      <Shared>6511</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Disc Medicine Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>254604101</cusip>
    <figi>BBG00W9MJK79</figi>
    <value>1982268</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31002</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31002</Sole>
      <Shared>31002</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Diversified Energy Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>25520W107</cusip>
    <figi>BBG01YJLV627</figi>
    <value>1313825</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75334</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>75334</Sole>
      <Shared>75334</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dlocal Ltd/Uruguay - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G29018101</cusip>
    <figi>BBG00XGCHFV7</figi>
    <value>7585362</value>
    <shrsOrPrnAmt>
      <sshPrnamt>584839</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>584839</Sole>
      <Shared>584839</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dlocal Ltd/Uruguay - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G29018101</cusip>
    <figi>BBG00XGCHFV7</figi>
    <value>178986</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13800</Sole>
      <Shared>13800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Docgo Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>256086109</cusip>
    <figi>BBG00YB8JBK8</figi>
    <value>14047</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22329</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22329</Sole>
      <Shared>22329</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Docusign Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>256163106</cusip>
    <figi>BBG000N7KJX8</figi>
    <value>55821719</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1177425</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1177425</Sole>
      <Shared>1177425</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Docusign Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>256163106</cusip>
    <figi>BBG000N7KJX8</figi>
    <value>3664793</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>77300</Sole>
      <Shared>77300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Docusign Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>256163106</cusip>
    <figi>BBG000N7KJX8</figi>
    <value>3953994</value>
    <shrsOrPrnAmt>
      <sshPrnamt>83400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>83400</Sole>
      <Shared>83400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dolby Laboratories Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>25659T107</cusip>
    <figi>BBG000DGLTG5</figi>
    <value>1234834</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20560</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20560</Sole>
      <Shared>20560</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dole Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G27907107</cusip>
    <figi>BBG011PCV4J9</figi>
    <value>351377</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24589</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24589</Sole>
      <Shared>24589</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dollar General Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>256677105</cusip>
    <figi>BBG000NV1KK7</figi>
    <value>1777151</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14968</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14968</Sole>
      <Shared>14968</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dollar General Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>256677105</cusip>
    <figi>BBG000NV1KK7</figi>
    <value>1044824</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8800</Sole>
      <Shared>8800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dollar General Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>256677105</cusip>
    <figi>BBG000NV1KK7</figi>
    <value>7123800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60000</Sole>
      <Shared>60000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dollar Tree Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>256746108</cusip>
    <figi>BBG000BSC0K9</figi>
    <value>10132522</value>
    <shrsOrPrnAmt>
      <sshPrnamt>92526</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>92526</Sole>
      <Shared>92526</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dollar Tree Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>256746108</cusip>
    <figi>BBG000BSC0K9</figi>
    <value>952737</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8700</Sole>
      <Shared>8700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dollar Tree Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>256746108</cusip>
    <figi>BBG000BSC0K9</figi>
    <value>3953311</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36100</Sole>
      <Shared>36100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dominion Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25746U109</cusip>
    <figi>BBG000BGVW60</figi>
    <value>2614986</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42300</Sole>
      <Shared>42300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dominion Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25746U109</cusip>
    <figi>BBG000BGVW60</figi>
    <value>4512860</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>73000</Sole>
      <Shared>73000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Domino's Pizza Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>25754A201</cusip>
    <figi>BBG000P458P3</figi>
    <value>14129509</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39381</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39381</Sole>
      <Shared>39381</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Domino's Pizza Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25754A201</cusip>
    <figi>BBG000P458P3</figi>
    <value>2009224</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5600</Sole>
      <Shared>5600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Domino's Pizza Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25754A201</cusip>
    <figi>BBG000P458P3</figi>
    <value>2332135</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6500</Sole>
      <Shared>6500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Domo Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>257554105</cusip>
    <figi>BBG00L2NS0B7</figi>
    <value>334492</value>
    <shrsOrPrnAmt>
      <sshPrnamt>109311</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>109311</Sole>
      <Shared>109311</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Doordash Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>25809K105</cusip>
    <figi>BBG005D7QCJ3</figi>
    <value>30780750</value>
    <shrsOrPrnAmt>
      <sshPrnamt>205000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>205000</Sole>
      <Shared>205000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Doordash Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25809K105</cusip>
    <figi>BBG005D7QCJ3</figi>
    <value>1546545</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10300</Sole>
      <Shared>10300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Doordash Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25809K105</cusip>
    <figi>BBG005D7QCJ3</figi>
    <value>1591590</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10600</Sole>
      <Shared>10600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Doubleverify Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>25862V105</cusip>
    <figi>BBG00ZNRRJM2</figi>
    <value>5879607</value>
    <shrsOrPrnAmt>
      <sshPrnamt>618906</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>618906</Sole>
      <Shared>618906</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Doubleverify Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25862V105</cusip>
    <figi>BBG00ZNRRJM2</figi>
    <value>506350</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>53300</Sole>
      <Shared>53300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Douglas Dynamics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>25960R105</cusip>
    <figi>BBG000Q90C31</figi>
    <value>6733221</value>
    <shrsOrPrnAmt>
      <sshPrnamt>159972</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>159972</Sole>
      <Shared>159972</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Douglas Emmett Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>25960P109</cusip>
    <figi>BBG000PN1SJ8</figi>
    <value>631498</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67038</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>67038</Sole>
      <Shared>67038</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dover Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>260003108</cusip>
    <figi>BBG000BHB3M6</figi>
    <value>833800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4000</Sole>
      <Shared>4000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dow Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>260557103</cusip>
    <figi>BBG00BN96922</figi>
    <value>23209421</value>
    <shrsOrPrnAmt>
      <sshPrnamt>557249</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>557249</Sole>
      <Shared>557249</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dow Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>260557103</cusip>
    <figi>BBG00BN96922</figi>
    <value>28492765</value>
    <shrsOrPrnAmt>
      <sshPrnamt>684100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>684100</Sole>
      <Shared>684100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dow Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>260557103</cusip>
    <figi>BBG00BN96922</figi>
    <value>6963880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>167200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>167200</Sole>
      <Shared>167200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Doximity Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>26622P107</cusip>
    <figi>BBG0026ZJQX7</figi>
    <value>5332881</value>
    <shrsOrPrnAmt>
      <sshPrnamt>228879</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>228879</Sole>
      <Shared>228879</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Doximity Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26622P107</cusip>
    <figi>BBG0026ZJQX7</figi>
    <value>857440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36800</Sole>
      <Shared>36800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Doximity Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26622P107</cusip>
    <figi>BBG0026ZJQX7</figi>
    <value>962290</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41300</Sole>
      <Shared>41300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dr Horton Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>23331A109</cusip>
    <figi>BBG000DQTXY6</figi>
    <value>6629647</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48314</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>48314</Sole>
      <Shared>48314</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dr Horton Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>23331A109</cusip>
    <figi>BBG000DQTXY6</figi>
    <value>603768</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4400</Sole>
      <Shared>4400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dr Horton Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>23331A109</cusip>
    <figi>BBG000DQTXY6</figi>
    <value>3416778</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24900</Sole>
      <Shared>24900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DraftKings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>26142V105</cusip>
    <figi>BBG0134WCM78</figi>
    <value>25619397</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1184986</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1184986</Sole>
      <Shared>1184986</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DraftKings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26142V105</cusip>
    <figi>BBG0134WCM78</figi>
    <value>3653780</value>
    <shrsOrPrnAmt>
      <sshPrnamt>169000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>169000</Sole>
      <Shared>169000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DraftKings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26142V105</cusip>
    <figi>BBG0134WCM78</figi>
    <value>2696014</value>
    <shrsOrPrnAmt>
      <sshPrnamt>124700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>124700</Sole>
      <Shared>124700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>DraftKings Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>26142RAB0</cusip>
    <figi>BBG00ZN7LY58</figi>
    <value>61458400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>68000000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>68000000</Sole>
      <Shared>68000000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dream Finders Homes Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>26154D100</cusip>
    <figi>BBG00YN8LKP7</figi>
    <value>725260</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52102</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52102</Sole>
      <Shared>52102</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Driven Brands Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>26210V102</cusip>
    <figi>BBG00YN8NCD6</figi>
    <value>11848356</value>
    <shrsOrPrnAmt>
      <sshPrnamt>939600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>939600</Sole>
      <Shared>939600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dropbox Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>26210C104</cusip>
    <figi>BBG0018SLDN0</figi>
    <value>5913016</value>
    <shrsOrPrnAmt>
      <sshPrnamt>260256</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>260256</Sole>
      <Shared>260256</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dt Midstream Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>23345M107</cusip>
    <figi>BBG0112Z58J3</figi>
    <value>3218209</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23897</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23897</Sole>
      <Shared>23897</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Duke Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26441C204</cusip>
    <figi>BBG000BHGDH5</figi>
    <value>11103712</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>84800</Sole>
      <Shared>84800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Duke Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26441C204</cusip>
    <figi>BBG000BHGDH5</figi>
    <value>5931582</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45300</Sole>
      <Shared>45300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Duolingo Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>26603R106</cusip>
    <figi>BBG003D4V951</figi>
    <value>9301262</value>
    <shrsOrPrnAmt>
      <sshPrnamt>94362</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>94362</Sole>
      <Shared>94362</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Duolingo Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26603R106</cusip>
    <figi>BBG003D4V951</figi>
    <value>10359707</value>
    <shrsOrPrnAmt>
      <sshPrnamt>105100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>105100</Sole>
      <Shared>105100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Duolingo Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26603R106</cusip>
    <figi>BBG003D4V951</figi>
    <value>17811599</value>
    <shrsOrPrnAmt>
      <sshPrnamt>180700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>180700</Sole>
      <Shared>180700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dupont De Nemours Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>26614N102</cusip>
    <figi>BBG00BN961G4</figi>
    <value>37183096</value>
    <shrsOrPrnAmt>
      <sshPrnamt>811858</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>811858</Sole>
      <Shared>811858</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dupont De Nemours Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26614N102</cusip>
    <figi>BBG00BN961G4</figi>
    <value>760280</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16600</Sole>
      <Shared>16600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dutch Bros Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26701L100</cusip>
    <figi>BBG01282ZHB3</figi>
    <value>293828</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5800</Sole>
      <Shared>5800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dutch Bros Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26701L100</cusip>
    <figi>BBG01282ZHB3</figi>
    <value>1651516</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32600</Sole>
      <Shared>32600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>D-Wave Quantum Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>26740W109</cusip>
    <figi>BBG0192379V9</figi>
    <value>8323311</value>
    <shrsOrPrnAmt>
      <sshPrnamt>576806</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>576806</Sole>
      <Shared>576806</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>D-Wave Quantum Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26740W109</cusip>
    <figi>BBG0192379V9</figi>
    <value>626262</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43400</Sole>
      <Shared>43400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>D-Wave Quantum Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26740W109</cusip>
    <figi>BBG0192379V9</figi>
    <value>1457430</value>
    <shrsOrPrnAmt>
      <sshPrnamt>101000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>101000</Sole>
      <Shared>101000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dxp Enterprises Inc/Tx - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>233377407</cusip>
    <figi>BBG000HTY991</figi>
    <value>1428460</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10223</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10223</Sole>
      <Shared>10223</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dycom Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>267475101</cusip>
    <figi>BBG000C4SKT1</figi>
    <value>542112</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1600</Sole>
      <Shared>1600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dycom Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>267475101</cusip>
    <figi>BBG000C4SKT1</figi>
    <value>338820</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1000</Sole>
      <Shared>1000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dynatrace Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>268150109</cusip>
    <figi>BBG00PNN7C40</figi>
    <value>244068</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6600</Sole>
      <Shared>6600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Dyne Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>26818M108</cusip>
    <figi>BBG00NSGPJD0</figi>
    <value>1396572</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77031</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>77031</Sole>
      <Shared>77031</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>East West Bancorp Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>27579R104</cusip>
    <figi>BBG000CR20B1</figi>
    <value>10290490</value>
    <shrsOrPrnAmt>
      <sshPrnamt>96389</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>96389</Sole>
      <Shared>96389</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eaton Corp Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G29183103</cusip>
    <figi>BBG000BJ3PD2</figi>
    <value>233201</value>
    <shrsOrPrnAmt>
      <sshPrnamt>652</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>652</Sole>
      <Shared>652</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eaton Corp Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G29183103</cusip>
    <figi>BBG000BJ3PD2</figi>
    <value>6044623</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16900</Sole>
      <Shared>16900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eaton Corp Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G29183103</cusip>
    <figi>BBG000BJ3PD2</figi>
    <value>19063811</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>53300</Sole>
      <Shared>53300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ebay Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>278642103</cusip>
    <figi>BBG000C43RR5</figi>
    <value>300366</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3300</Sole>
      <Shared>3300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ebay Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>278642103</cusip>
    <figi>BBG000C43RR5</figi>
    <value>1419912</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15600</Sole>
      <Shared>15600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ECARX Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G29201103</cusip>
    <figi>BBG01C3HS3Z6</figi>
    <value>2146419</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2195151</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2195151</Sole>
      <Shared>2195151</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Echostar Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>278768106</cusip>
    <figi>BBG000TGLV00</figi>
    <value>11753828</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100400</Sole>
      <Shared>100400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Echostar Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>278768106</cusip>
    <figi>BBG000TGLV00</figi>
    <value>24210076</value>
    <shrsOrPrnAmt>
      <sshPrnamt>206800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>206800</Sole>
      <Shared>206800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ecolab Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>278865100</cusip>
    <figi>BBG000BHKYH4</figi>
    <value>372428</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1400</Sole>
      <Shared>1400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ecolab Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>278865100</cusip>
    <figi>BBG000BHKYH4</figi>
    <value>319224</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1200</Sole>
      <Shared>1200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Edgewise Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>28036F105</cusip>
    <figi>BBG00K4Y2H24</figi>
    <value>941504</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29889</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29889</Sole>
      <Shared>29889</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Edison International - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>281020107</cusip>
    <figi>BBG000D7RKJ5</figi>
    <value>2458848</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33600</Sole>
      <Shared>33600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Edison International - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>281020107</cusip>
    <figi>BBG000D7RKJ5</figi>
    <value>3315054</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45300</Sole>
      <Shared>45300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Edwards Lifesciences Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>28176E108</cusip>
    <figi>BBG000BRXP69</figi>
    <value>488488</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6100</Sole>
      <Shared>6100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eikon Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>282564103</cusip>
    <figi>BBG00T0XRJ75</figi>
    <value>158700</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15000</Sole>
      <Shared>15000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Elastic Nv - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N14506104</cusip>
    <figi>BBG00LWZDYB9</figi>
    <value>2804439</value>
    <shrsOrPrnAmt>
      <sshPrnamt>56100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>56100</Sole>
      <Shared>56100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Elastic Nv - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N14506104</cusip>
    <figi>BBG00LWZDYB9</figi>
    <value>559888</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11200</Sole>
      <Shared>11200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Elbit Systems Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M3760D101</cusip>
    <figi>BBG000CRN4P5</figi>
    <value>1103817</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1300</Sole>
      <Shared>1300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Elbit Systems Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M3760D101</cusip>
    <figi>BBG000CRN4P5</figi>
    <value>1273635</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1500</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eldorado Gold Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>284902509</cusip>
    <figi>BBG000BN7277</figi>
    <value>1438873</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41913</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41913</Sole>
      <Shared>41913</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eldorado Gold Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>284902509</cusip>
    <figi>BBG000BN7277</figi>
    <value>374197</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10900</Sole>
      <Shared>10900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eldorado Gold Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>284902509</cusip>
    <figi>BBG000BN7277</figi>
    <value>1864119</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>54300</Sole>
      <Shared>54300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Electronic Arts Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>285512109</cusip>
    <figi>BBG000BP0KQ8</figi>
    <value>275658743</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1352130</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1352130</Sole>
      <Shared>1352130</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Elevance Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>036752103</cusip>
    <figi>BBG000BCG930</figi>
    <value>7464832</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25499</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25499</Sole>
      <Shared>25499</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Elevance Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>036752103</cusip>
    <figi>BBG000BCG930</figi>
    <value>644050</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2200</Sole>
      <Shared>2200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Elevance Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>036752103</cusip>
    <figi>BBG000BCG930</figi>
    <value>6323400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21600</Sole>
      <Shared>21600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Elf Beauty Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>26856L103</cusip>
    <figi>BBG00DQ6VYP3</figi>
    <value>4959838</value>
    <shrsOrPrnAmt>
      <sshPrnamt>81832</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>81832</Sole>
      <Shared>81832</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Elf Beauty Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26856L103</cusip>
    <figi>BBG00DQ6VYP3</figi>
    <value>545490</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9000</Sole>
      <Shared>9000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Elf Beauty Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26856L103</cusip>
    <figi>BBG00DQ6VYP3</figi>
    <value>1612226</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26600</Sole>
      <Shared>26600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eli Lilly &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>532457108</cusip>
    <figi>BBG000BNBDC2</figi>
    <value>114669565</value>
    <shrsOrPrnAmt>
      <sshPrnamt>124672</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>124672</Sole>
      <Shared>124672</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eli Lilly &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>532457108</cusip>
    <figi>BBG000BNBDC2</figi>
    <value>3035241</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3300</Sole>
      <Shared>3300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eli Lilly &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>532457108</cusip>
    <figi>BBG000BNBDC2</figi>
    <value>26949261</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29300</Sole>
      <Shared>29300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Elme Communities - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>939653101</cusip>
    <figi>BBG000BWYX06</figi>
    <value>1339575</value>
    <shrsOrPrnAmt>
      <sshPrnamt>666455</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>666455</Sole>
      <Shared>666455</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Embraer Sa - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>29082A107</cusip>
    <figi>BBG000BG3TV0</figi>
    <value>7590595</value>
    <shrsOrPrnAmt>
      <sshPrnamt>127917</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>127917</Sole>
      <Shared>127917</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Embraer Sa - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29082A107</cusip>
    <figi>BBG000BG3TV0</figi>
    <value>1798002</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30300</Sole>
      <Shared>30300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Embraer Sa - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29082A107</cusip>
    <figi>BBG000BG3TV0</figi>
    <value>14277204</value>
    <shrsOrPrnAmt>
      <sshPrnamt>240600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>240600</Sole>
      <Shared>240600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Emcor Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29084Q100</cusip>
    <figi>BBG000BBRPL4</figi>
    <value>34515992</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46750</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46750</Sole>
      <Shared>46750</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Emcor Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29084Q100</cusip>
    <figi>BBG000BBRPL4</figi>
    <value>1550451</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2100</Sole>
      <Shared>2100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Emcor Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29084Q100</cusip>
    <figi>BBG000BBRPL4</figi>
    <value>516817</value>
    <shrsOrPrnAmt>
      <sshPrnamt>700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>700</Sole>
      <Shared>700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Emerson Electric Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>291011104</cusip>
    <figi>BBG000BHX7N2</figi>
    <value>25458758</value>
    <shrsOrPrnAmt>
      <sshPrnamt>194312</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>194312</Sole>
      <Shared>194312</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Emerson Electric Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>291011104</cusip>
    <figi>BBG000BHX7N2</figi>
    <value>1035058</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7900</Sole>
      <Shared>7900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Emerson Electric Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>291011104</cusip>
    <figi>BBG000BHX7N2</figi>
    <value>3747172</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28600</Sole>
      <Shared>28600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Empire State Realty Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>292104106</cusip>
    <figi>BBG002N8HMW0</figi>
    <value>87526</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16832</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16832</Sole>
      <Shared>16832</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enanta Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29251M106</cusip>
    <figi>BBG001V9NSB4</figi>
    <value>131112</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10381</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10381</Sole>
      <Shared>10381</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enbridge Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29250N105</cusip>
    <figi>BBG000K5M1S8</figi>
    <value>774202</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14300</Sole>
      <Shared>14300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enbridge Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29250N105</cusip>
    <figi>BBG000K5M1S8</figi>
    <value>1651270</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30500</Sole>
      <Shared>30500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Encompass Health Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29261A100</cusip>
    <figi>BBG000BGBRG2</figi>
    <value>2972513</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30730</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30730</Sole>
      <Shared>30730</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Encore Capital Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>292554102</cusip>
    <figi>BBG000F369C7</figi>
    <value>612919</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8741</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8741</Sole>
      <Shared>8741</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Encore Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29259W700</cusip>
    <figi>BBG001CK1971</figi>
    <value>76990</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42772</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42772</Sole>
      <Shared>42772</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Endeavour Silver Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29258Y103</cusip>
    <figi>BBG000K2HB18</figi>
    <value>3355594</value>
    <shrsOrPrnAmt>
      <sshPrnamt>360429</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>360429</Sole>
      <Shared>360429</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Endeavour Silver Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29258Y103</cusip>
    <figi>BBG000K2HB18</figi>
    <value>256956</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27600</Sole>
      <Shared>27600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Energy Fuels Inc/Canada - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>292671708</cusip>
    <figi>BBG000BXTPV3</figi>
    <value>631450</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34600</Sole>
      <Shared>34600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Energy Fuels Inc/Canada - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>292671708</cusip>
    <figi>BBG000BXTPV3</figi>
    <value>837675</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45900</Sole>
      <Shared>45900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Energy Vault Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29280W109</cusip>
    <figi>BBG00YXTKKH0</figi>
    <value>238465</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72262</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>72262</Sole>
      <Shared>72262</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enerpac Tool Group Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>292765104</cusip>
    <figi>BBG000B9WX45</figi>
    <value>3720742</value>
    <shrsOrPrnAmt>
      <sshPrnamt>102022</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>102022</Sole>
      <Shared>102022</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enersys - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29275Y102</cusip>
    <figi>BBG000PWTD92</figi>
    <value>20693179</value>
    <shrsOrPrnAmt>
      <sshPrnamt>119118</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>119118</Sole>
      <Shared>119118</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enersys - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29275Y102</cusip>
    <figi>BBG000PWTD92</figi>
    <value>277952</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1600</Sole>
      <Shared>1600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enhanced Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29333R107</cusip>
    <figi>BBG01V6DQSM1</figi>
    <value>2644200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>260000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>260000</Sole>
      <Shared>260000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enova International Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29357K103</cusip>
    <figi>BBG0022PSJ14</figi>
    <value>22390761</value>
    <shrsOrPrnAmt>
      <sshPrnamt>164844</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>164844</Sole>
      <Shared>164844</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enovis Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>194014502</cusip>
    <figi>BBG000C5Z443</figi>
    <value>3388180</value>
    <shrsOrPrnAmt>
      <sshPrnamt>148931</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>148931</Sole>
      <Shared>148931</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enovix Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>293594107</cusip>
    <figi>BBG00YC53854</figi>
    <value>6339735</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1223887</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1223887</Sole>
      <Shared>1223887</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enovix Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>293594107</cusip>
    <figi>BBG00YC53854</figi>
    <value>72520</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14000</Sole>
      <Shared>14000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enphase Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29355A107</cusip>
    <figi>BBG001R3MNY9</figi>
    <value>3421805</value>
    <shrsOrPrnAmt>
      <sshPrnamt>90500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>90500</Sole>
      <Shared>90500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enphase Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29355A107</cusip>
    <figi>BBG001R3MNY9</figi>
    <value>7384293</value>
    <shrsOrPrnAmt>
      <sshPrnamt>195300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>195300</Sole>
      <Shared>195300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ensign Group Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29358P101</cusip>
    <figi>BBG000K1T9L0</figi>
    <value>23973866</value>
    <shrsOrPrnAmt>
      <sshPrnamt>118977</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>118977</Sole>
      <Shared>118977</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Entegris Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29362U104</cusip>
    <figi>BBG000CTV4N4</figi>
    <value>2450316</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20900</Sole>
      <Shared>20900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Entegris Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29362U104</cusip>
    <figi>BBG000CTV4N4</figi>
    <value>586200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5000</Sole>
      <Shared>5000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Entergy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29364G103</cusip>
    <figi>BBG000C1FQS9</figi>
    <value>382024</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3400</Sole>
      <Shared>3400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Enterprise Financial Services Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>293712105</cusip>
    <figi>BBG000DZN289</figi>
    <value>1634068</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30199</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30199</Sole>
      <Shared>30199</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Envista Holdings Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29415F104</cusip>
    <figi>BBG00LN4B5N0</figi>
    <value>294774</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11619</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11619</Sole>
      <Shared>11619</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eog Resources Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26875P101</cusip>
    <figi>BBG000BZ9223</figi>
    <value>2573346</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17800</Sole>
      <Shared>17800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eog Resources Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26875P101</cusip>
    <figi>BBG000BZ9223</figi>
    <value>10380126</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>71800</Sole>
      <Shared>71800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eos Energy Enterprises Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29415C101</cusip>
    <figi>BBG00V1KJ6F5</figi>
    <value>10738901</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2165101</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2165101</Sole>
      <Shared>2165101</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eos Energy Enterprises Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29415C101</cusip>
    <figi>BBG00V1KJ6F5</figi>
    <value>1401696</value>
    <shrsOrPrnAmt>
      <sshPrnamt>282600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>282600</Sole>
      <Shared>282600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eos Energy Enterprises Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29415C101</cusip>
    <figi>BBG00V1KJ6F5</figi>
    <value>490048</value>
    <shrsOrPrnAmt>
      <sshPrnamt>98800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>98800</Sole>
      <Shared>98800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Epam Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29414B104</cusip>
    <figi>BBG000MHTV89</figi>
    <value>243720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1800</Sole>
      <Shared>1800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Epam Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29414B104</cusip>
    <figi>BBG000MHTV89</figi>
    <value>2328880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17200</Sole>
      <Shared>17200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eqt Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26884L109</cusip>
    <figi>BBG000BHZ5J9</figi>
    <value>10226948</value>
    <shrsOrPrnAmt>
      <sshPrnamt>160700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>160700</Sole>
      <Shared>160700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eqt Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>26884L109</cusip>
    <figi>BBG000BHZ5J9</figi>
    <value>6497644</value>
    <shrsOrPrnAmt>
      <sshPrnamt>102100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>102100</Sole>
      <Shared>102100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Equifax Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>294429105</cusip>
    <figi>BBG000BHPL78</figi>
    <value>234091</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1300</Sole>
      <Shared>1300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Equillium Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29446K106</cusip>
    <figi>BBG00LSL8C10</figi>
    <value>40200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20100</Sole>
      <Shared>20100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Equinix Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29444U700</cusip>
    <figi>BBG000MBDGM6</figi>
    <value>14703600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15000</Sole>
      <Shared>15000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Equinix Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29444U700</cusip>
    <figi>BBG000MBDGM6</figi>
    <value>3920960</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4000</Sole>
      <Shared>4000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Equinix Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29444U700</cusip>
    <figi>BBG000MBDGM6</figi>
    <value>588144</value>
    <shrsOrPrnAmt>
      <sshPrnamt>600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>600</Sole>
      <Shared>600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Equinor Asa - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>29446M102</cusip>
    <figi>BBG000NT0ZZ4</figi>
    <value>6118578</value>
    <shrsOrPrnAmt>
      <sshPrnamt>144990</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>144990</Sole>
      <Shared>144990</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Equinor Asa - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29446M102</cusip>
    <figi>BBG000NT0ZZ4</figi>
    <value>1042340</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24700</Sole>
      <Shared>24700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Equinox Gold Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29446Y502</cusip>
    <figi>BBG004XB7MN9</figi>
    <value>934463</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64624</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>64624</Sole>
      <Shared>64624</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Equinox Gold Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29446Y502</cusip>
    <figi>BBG004XB7MN9</figi>
    <value>1143786</value>
    <shrsOrPrnAmt>
      <sshPrnamt>79100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>79100</Sole>
      <Shared>79100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Equinox Gold Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29446Y502</cusip>
    <figi>BBG004XB7MN9</figi>
    <value>1356348</value>
    <shrsOrPrnAmt>
      <sshPrnamt>93800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>93800</Sole>
      <Shared>93800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Equity Lifestyle Properties Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29472R108</cusip>
    <figi>BBG000BB7SX7</figi>
    <value>11492770</value>
    <shrsOrPrnAmt>
      <sshPrnamt>184120</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>184120</Sole>
      <Shared>184120</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Equity Residential - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29476L107</cusip>
    <figi>BBG000BG8M31</figi>
    <value>532350</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9000</Sole>
      <Shared>9000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Erie Indemnity Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29530P102</cusip>
    <figi>BBG000BBTJZ1</figi>
    <value>1316864</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5240</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5240</Sole>
      <Shared>5240</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ERO Copper Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>296006109</cusip>
    <figi>BBG00J09YMM8</figi>
    <value>523772</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19639</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19639</Sole>
      <Shared>19639</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ERO Copper Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>296006109</cusip>
    <figi>BBG00J09YMM8</figi>
    <value>546735</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20500</Sole>
      <Shared>20500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ERO Copper Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>296006109</cusip>
    <figi>BBG00J09YMM8</figi>
    <value>2386965</value>
    <shrsOrPrnAmt>
      <sshPrnamt>89500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>89500</Sole>
      <Shared>89500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Esab Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29605J106</cusip>
    <figi>BBG0028ZMP45</figi>
    <value>2769116</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28648</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28648</Sole>
      <Shared>28648</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Esco Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>296315104</cusip>
    <figi>BBG000C4S3P3</figi>
    <value>6174665</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21945</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21945</Sole>
      <Shared>21945</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Esquire Financial Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29667J101</cusip>
    <figi>BBG003BCFHX4</figi>
    <value>2474543</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23019</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23019</Sole>
      <Shared>23019</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Essent Group Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G3198U102</cusip>
    <figi>BBG0058YL7G9</figi>
    <value>40539010</value>
    <shrsOrPrnAmt>
      <sshPrnamt>693686</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>693686</Sole>
      <Shared>693686</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Essential Properties Realty Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29670E107</cusip>
    <figi>BBG00L17LGJ7</figi>
    <value>30574827</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1007076</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1007076</Sole>
      <Shared>1007076</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Essential Utilities Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29670G102</cusip>
    <figi>BBG000BRMJN6</figi>
    <value>55809992</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1385895</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1385895</Sole>
      <Shared>1385895</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Essex Property Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>297178105</cusip>
    <figi>BBG000CGJMB9</figi>
    <value>7146744</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29532</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29532</Sole>
      <Shared>29532</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Establishment Labs Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G31249108</cusip>
    <figi>BBG00L8R3CR6</figi>
    <value>9733795</value>
    <shrsOrPrnAmt>
      <sshPrnamt>171430</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>171430</Sole>
      <Shared>171430</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Estee Lauder Cos Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>518439104</cusip>
    <figi>BBG000FKJRC5</figi>
    <value>32312433</value>
    <shrsOrPrnAmt>
      <sshPrnamt>450222</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>450222</Sole>
      <Shared>450222</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Estee Lauder Cos Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>518439104</cusip>
    <figi>BBG000FKJRC5</figi>
    <value>3086110</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43000</Sole>
      <Shared>43000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Estee Lauder Cos Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>518439104</cusip>
    <figi>BBG000FKJRC5</figi>
    <value>6488008</value>
    <shrsOrPrnAmt>
      <sshPrnamt>90400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>90400</Sole>
      <Shared>90400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ethos Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29765A101</cusip>
    <figi>BBG00L538636</figi>
    <value>776907</value>
    <shrsOrPrnAmt>
      <sshPrnamt>69553</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>69553</Sole>
      <Shared>69553</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Etoro Group Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G32089107</cusip>
    <figi>BBG00KG5TXN7</figi>
    <value>6533927</value>
    <shrsOrPrnAmt>
      <sshPrnamt>217580</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>217580</Sole>
      <Shared>217580</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Etoro Group Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G32089107</cusip>
    <figi>BBG00KG5TXN7</figi>
    <value>3168165</value>
    <shrsOrPrnAmt>
      <sshPrnamt>105500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>105500</Sole>
      <Shared>105500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Etoro Group Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G32089107</cusip>
    <figi>BBG00KG5TXN7</figi>
    <value>2090088</value>
    <shrsOrPrnAmt>
      <sshPrnamt>69600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>69600</Sole>
      <Shared>69600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Etsy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>29786A106</cusip>
    <figi>BBG000N7MXL8</figi>
    <value>11926977</value>
    <shrsOrPrnAmt>
      <sshPrnamt>238635</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>238635</Sole>
      <Shared>238635</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Etsy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29786A106</cusip>
    <figi>BBG000N7MXL8</figi>
    <value>489804</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9800</Sole>
      <Shared>9800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Etsy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29786A106</cusip>
    <figi>BBG000N7MXL8</figi>
    <value>2274090</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45500</Sole>
      <Shared>45500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Evercore Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29977A105</cusip>
    <figi>BBG000BP30Y0</figi>
    <value>417914</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1400</Sole>
      <Shared>1400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Evercore Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>29977A105</cusip>
    <figi>BBG000BP30Y0</figi>
    <value>1014934</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3400</Sole>
      <Shared>3400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Everest Group Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G3223R108</cusip>
    <figi>BBG000C1XVK6</figi>
    <value>767117</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2347</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2347</Sole>
      <Shared>2347</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Everpure Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74624M102</cusip>
    <figi>BBG00212PVZ5</figi>
    <value>743904</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12600</Sole>
      <Shared>12600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Everquote Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>30041R108</cusip>
    <figi>BBG00F17NDH7</figi>
    <value>206628</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13400</Sole>
      <Shared>13400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eversource Energy - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30040W108</cusip>
    <figi>BBG000BQ87N0</figi>
    <value>8749510</value>
    <shrsOrPrnAmt>
      <sshPrnamt>126292</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>126292</Sole>
      <Shared>126292</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Eversource Energy - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>30040W108</cusip>
    <figi>BBG000BQ87N0</figi>
    <value>277120</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4000</Sole>
      <Shared>4000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Everspin Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>30041T104</cusip>
    <figi>BBG000N7MXY4</figi>
    <value>395550</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45000</Sole>
      <Shared>45000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Evertec Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30040P103</cusip>
    <figi>BBG000J187K0</figi>
    <value>1420030</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50320</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50320</Sole>
      <Shared>50320</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Everus Construction Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>300426103</cusip>
    <figi>BBG01M600X00</figi>
    <value>8566788</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72563</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>72563</Sole>
      <Shared>72563</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Everus Construction Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>300426103</cusip>
    <figi>BBG01M600X00</figi>
    <value>1676452</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14200</Sole>
      <Shared>14200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Evolent Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30050B101</cusip>
    <figi>BBG005CHLM96</figi>
    <value>234537</value>
    <shrsOrPrnAmt>
      <sshPrnamt>102867</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>102867</Sole>
      <Shared>102867</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Evolv Technologies Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30049H102</cusip>
    <figi>BBG00W1PPKX4</figi>
    <value>4763691</value>
    <shrsOrPrnAmt>
      <sshPrnamt>787387</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>787387</Sole>
      <Shared>787387</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ew Scripps Co/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>811054402</cusip>
    <figi>BBG000C78J55</figi>
    <value>763061</value>
    <shrsOrPrnAmt>
      <sshPrnamt>205124</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>205124</Sole>
      <Shared>205124</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Excelerate Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30069T101</cusip>
    <figi>BBG014GJSRF5</figi>
    <value>1348129</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40339</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40339</Sole>
      <Shared>40339</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Exelixis Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>30161Q104</cusip>
    <figi>BBG000BQ4WF8</figi>
    <value>300230</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7000</Sole>
      <Shared>7000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Exelon Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>30161N101</cusip>
    <figi>BBG000J6XT05</figi>
    <value>980400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20000</Sole>
      <Shared>20000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Exlservice Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>302081104</cusip>
    <figi>BBG000NS3P30</figi>
    <value>35893760</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1178777</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1178777</Sole>
      <Shared>1178777</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Expand Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>165167735</cusip>
    <figi>BBG00Z6DX554</figi>
    <value>44860829</value>
    <shrsOrPrnAmt>
      <sshPrnamt>408643</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>408643</Sole>
      <Shared>408643</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Expand Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>165167735</cusip>
    <figi>BBG00Z6DX554</figi>
    <value>13459028</value>
    <shrsOrPrnAmt>
      <sshPrnamt>122600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>122600</Sole>
      <Shared>122600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Expand Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>165167735</cusip>
    <figi>BBG00Z6DX554</figi>
    <value>9287388</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>84600</Sole>
      <Shared>84600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Expedia Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30212P303</cusip>
    <figi>BBG000QY3XZ2</figi>
    <value>21385955</value>
    <shrsOrPrnAmt>
      <sshPrnamt>92624</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>92624</Sole>
      <Shared>92624</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Expedia Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>30212P303</cusip>
    <figi>BBG000QY3XZ2</figi>
    <value>1731675</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7500</Sole>
      <Shared>7500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Expedia Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>30212P303</cusip>
    <figi>BBG000QY3XZ2</figi>
    <value>1985654</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8600</Sole>
      <Shared>8600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Expeditors International Of Washington Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>302130109</cusip>
    <figi>BBG000BJ5GK2</figi>
    <value>14451621</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100898</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100898</Sole>
      <Shared>100898</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Expeditors International Of Washington Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>302130109</cusip>
    <figi>BBG000BJ5GK2</figi>
    <value>3566427</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24900</Sole>
      <Shared>24900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Exponent Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30214U102</cusip>
    <figi>BBG000F31Z34</figi>
    <value>1181808</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18112</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18112</Sole>
      <Shared>18112</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Exponent Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>30214U102</cusip>
    <figi>BBG000F31Z34</figi>
    <value>6525000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100000</Sole>
      <Shared>100000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Extra Space Storage Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30225T102</cusip>
    <figi>BBG000PV27K3</figi>
    <value>6021752</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45922</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45922</Sole>
      <Shared>45922</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Extra Space Storage Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>30225T102</cusip>
    <figi>BBG000PV27K3</figi>
    <value>288486</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2200</Sole>
      <Shared>2200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Extreme Networks Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30226D106</cusip>
    <figi>BBG000BFR0T2</figi>
    <value>4780224</value>
    <shrsOrPrnAmt>
      <sshPrnamt>316991</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>316991</Sole>
      <Shared>316991</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Exxon Mobil Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>30231G102</cusip>
    <figi>BBG000GZQ728</figi>
    <value>106800970</value>
    <shrsOrPrnAmt>
      <sshPrnamt>629500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>629500</Sole>
      <Shared>629500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Exxon Mobil Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>30231G102</cusip>
    <figi>BBG000GZQ728</figi>
    <value>185896462</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1095700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1095700</Sole>
      <Shared>1095700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ezcorp Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>302301106</cusip>
    <figi>BBG000C93HM1</figi>
    <value>11791853</value>
    <shrsOrPrnAmt>
      <sshPrnamt>464612</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>464612</Sole>
      <Shared>464612</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>F&amp;G Annuities &amp; Life Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30190A104</cusip>
    <figi>BBG01BGVGG87</figi>
    <value>1477852</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58367</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58367</Sole>
      <Shared>58367</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>F5 Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>315616102</cusip>
    <figi>BBG000CXYSZ6</figi>
    <value>10938989</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37808</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37808</Sole>
      <Shared>37808</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>F5 Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>315616102</cusip>
    <figi>BBG000CXYSZ6</figi>
    <value>665459</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2300</Sole>
      <Shared>2300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>F5 Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>315616102</cusip>
    <figi>BBG000CXYSZ6</figi>
    <value>578660</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2000</Sole>
      <Shared>2000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fabrinet - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G3323L100</cusip>
    <figi>BBG000HBFQP5</figi>
    <value>208608</value>
    <shrsOrPrnAmt>
      <sshPrnamt>400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>400</Sole>
      <Shared>400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fabrinet - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G3323L100</cusip>
    <figi>BBG000HBFQP5</figi>
    <value>208608</value>
    <shrsOrPrnAmt>
      <sshPrnamt>400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>400</Sole>
      <Shared>400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Factset Research Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>303075105</cusip>
    <figi>BBG000BDJL83</figi>
    <value>433980</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2000</Sole>
      <Shared>2000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fair Isaac Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>303250104</cusip>
    <figi>BBG000DW76Y6</figi>
    <value>28817175</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26994</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26994</Sole>
      <Shared>26994</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fair Isaac Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>303250104</cusip>
    <figi>BBG000DW76Y6</figi>
    <value>2668850</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2500</Sole>
      <Shared>2500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fair Isaac Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>303250104</cusip>
    <figi>BBG000DW76Y6</figi>
    <value>2775604</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2600</Sole>
      <Shared>2600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Farmland Partners Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>31154R109</cusip>
    <figi>BBG005TNS0Q7</figi>
    <value>3596947</value>
    <shrsOrPrnAmt>
      <sshPrnamt>320298</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>320298</Sole>
      <Shared>320298</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fastenal Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>311900104</cusip>
    <figi>BBG000BJ8YN7</figi>
    <value>668160</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14400</Sole>
      <Shared>14400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fastly Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>31188V100</cusip>
    <figi>BBG004NLQHL0</figi>
    <value>30120080</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1036479</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1036479</Sole>
      <Shared>1036479</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fastly Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>31188V100</cusip>
    <figi>BBG004NLQHL0</figi>
    <value>4943106</value>
    <shrsOrPrnAmt>
      <sshPrnamt>170100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>170100</Sole>
      <Shared>170100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fastly Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>31188V100</cusip>
    <figi>BBG004NLQHL0</figi>
    <value>1665138</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57300</Sole>
      <Shared>57300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Federal Agricultural Mortgage Corp - US Class C</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>313148306</cusip>
    <figi>BBG000G8ZKY4</figi>
    <value>226975</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1530</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1530</Sole>
      <Shared>1530</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Federal Signal Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>313855108</cusip>
    <figi>BBG000BJXWX2</figi>
    <value>16494486</value>
    <shrsOrPrnAmt>
      <sshPrnamt>152529</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>152529</Sole>
      <Shared>152529</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fedex Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>31428X106</cusip>
    <figi>BBG000BJF1Z8</figi>
    <value>37719462</value>
    <shrsOrPrnAmt>
      <sshPrnamt>105900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>105900</Sole>
      <Shared>105900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fedex Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>31428X106</cusip>
    <figi>BBG000BJF1Z8</figi>
    <value>1246630</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3500</Sole>
      <Shared>3500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fedex Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>31428X106</cusip>
    <figi>BBG000BJF1Z8</figi>
    <value>23614734</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>66300</Sole>
      <Shared>66300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fermi Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>314911108</cusip>
    <figi>BBG01X4QY3R1</figi>
    <value>3858687</value>
    <shrsOrPrnAmt>
      <sshPrnamt>660734</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>660734</Sole>
      <Shared>660734</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ferrari Nv - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>N3167Y103</cusip>
    <figi>BBG009PH3Q86</figi>
    <value>1664497</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4918</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4918</Sole>
      <Shared>4918</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ferrari Nv - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N3167Y103</cusip>
    <figi>BBG009PH3Q86</figi>
    <value>2606065</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7700</Sole>
      <Shared>7700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ferrari Nv - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N3167Y103</cusip>
    <figi>BBG009PH3Q86</figi>
    <value>7784350</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23000</Sole>
      <Shared>23000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fidelis Insurance Holdings Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G3398L118</cusip>
    <figi>BBG009CWCN93</figi>
    <value>1605890</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84034</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>84034</Sole>
      <Shared>84034</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fidelity MSCI Energy Index ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>316092402</cusip>
    <figi>BBG005FHW2W9</figi>
    <value>6778077</value>
    <shrsOrPrnAmt>
      <sshPrnamt>199238</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>199238</Sole>
      <Shared>199238</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fidelity National Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>31620R303</cusip>
    <figi>BBG006N7S6K9</figi>
    <value>10241261</value>
    <shrsOrPrnAmt>
      <sshPrnamt>220812</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>220812</Sole>
      <Shared>220812</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fidelity National Information Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>31620M106</cusip>
    <figi>BBG000BK2F42</figi>
    <value>2152278</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45881</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45881</Sole>
      <Shared>45881</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fidelity National Information Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>31620M106</cusip>
    <figi>BBG000BK2F42</figi>
    <value>356516</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7600</Sole>
      <Shared>7600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fidelity National Information Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>31620M106</cusip>
    <figi>BBG000BK2F42</figi>
    <value>694268</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14800</Sole>
      <Shared>14800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fidelity Total Bond ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>316188309</cusip>
    <figi>BBG0078X19K0</figi>
    <value>212452</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4657</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4657</Sole>
      <Shared>4657</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fidus Investment Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>316500107</cusip>
    <figi>BBG001K9JH07</figi>
    <value>1329407</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76315</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>76315</Sole>
      <Shared>76315</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fifth Third Bancorp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>316773100</cusip>
    <figi>BBG000BJL3N0</figi>
    <value>4065250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>87500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>87500</Sole>
      <Shared>87500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fifth Third Bancorp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>316773100</cusip>
    <figi>BBG000BJL3N0</figi>
    <value>566812</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12200</Sole>
      <Shared>12200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Figma Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>316841105</cusip>
    <figi>BBG00BLZ2CD1</figi>
    <value>2539717</value>
    <shrsOrPrnAmt>
      <sshPrnamt>120138</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>120138</Sole>
      <Shared>120138</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Figma Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>316841105</cusip>
    <figi>BBG00BLZ2CD1</figi>
    <value>5752194</value>
    <shrsOrPrnAmt>
      <sshPrnamt>272100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>272100</Sole>
      <Shared>272100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Figma Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>316841105</cusip>
    <figi>BBG00BLZ2CD1</figi>
    <value>6122144</value>
    <shrsOrPrnAmt>
      <sshPrnamt>289600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>289600</Sole>
      <Shared>289600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Figs Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30260D103</cusip>
    <figi>BBG004SK5VL9</figi>
    <value>10033985</value>
    <shrsOrPrnAmt>
      <sshPrnamt>679349</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>679349</Sole>
      <Shared>679349</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Figure Technology Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>349381103</cusip>
    <figi>BBG01NGH78G1</figi>
    <value>3581725</value>
    <shrsOrPrnAmt>
      <sshPrnamt>105500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>105500</Sole>
      <Shared>105500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Figure Technology Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>349381103</cusip>
    <figi>BBG01NGH78G1</figi>
    <value>1897805</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>55900</Sole>
      <Shared>55900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Firefly Aerospace Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>31816X106</cusip>
    <figi>BBG00NGNL3X5</figi>
    <value>1708200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60000</Sole>
      <Shared>60000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Firefly Aerospace Inc - US</nameOfIssuer>
    <titleOfClass>Equity (When-Issued)</titleOfClass>
    <cusip>31816X106</cusip>
    <figi>BBG00NGNL3X5</figi>
    <value>13628532</value>
    <shrsOrPrnAmt>
      <sshPrnamt>478698</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>478698</Sole>
      <Shared>478698</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Bancorp/Puerto Rico - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>318672706</cusip>
    <figi>BBG000CYKKX8</figi>
    <value>9360102</value>
    <shrsOrPrnAmt>
      <sshPrnamt>438207</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>438207</Sole>
      <Shared>438207</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Citizens Bancshares Inc/Nc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>31946M103</cusip>
    <figi>BBG000BJCDS3</figi>
    <value>6366381</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3378</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3378</Sole>
      <Shared>3378</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Citizens Bancshares Inc/Nc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>31946M103</cusip>
    <figi>BBG000BJCDS3</figi>
    <value>376932</value>
    <shrsOrPrnAmt>
      <sshPrnamt>200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>200</Sole>
      <Shared>200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Financial Bankshares Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>32020R109</cusip>
    <figi>BBG000BL8476</figi>
    <value>14960895</value>
    <shrsOrPrnAmt>
      <sshPrnamt>508010</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>508010</Sole>
      <Shared>508010</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>320218100</cusip>
    <figi>BBG000CDH213</figi>
    <value>478487</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7571</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7571</Sole>
      <Shared>7571</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Hawaiian Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>32051X108</cusip>
    <figi>BBG0046LJYT2</figi>
    <value>447462</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18160</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18160</Sole>
      <Shared>18160</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Horizon Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>320517105</cusip>
    <figi>BBG000GHZSZ6</figi>
    <value>10289090</value>
    <shrsOrPrnAmt>
      <sshPrnamt>452069</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>452069</Sole>
      <Shared>452069</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Horizon Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>320517105</cusip>
    <figi>BBG000GHZSZ6</figi>
    <value>4110456</value>
    <shrsOrPrnAmt>
      <sshPrnamt>180600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>180600</Sole>
      <Shared>180600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Horizon Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>320517105</cusip>
    <figi>BBG000GHZSZ6</figi>
    <value>6365972</value>
    <shrsOrPrnAmt>
      <sshPrnamt>279700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>279700</Sole>
      <Shared>279700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Majestic Silver Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>32076V103</cusip>
    <figi>BBG000CH7WB8</figi>
    <value>5277443</value>
    <shrsOrPrnAmt>
      <sshPrnamt>245691</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>245691</Sole>
      <Shared>245691</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Majestic Silver Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>32076V103</cusip>
    <figi>BBG000CH7WB8</figi>
    <value>1290948</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60100</Sole>
      <Shared>60100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Majestic Silver Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>32076V103</cusip>
    <figi>BBG000CH7WB8</figi>
    <value>8486748</value>
    <shrsOrPrnAmt>
      <sshPrnamt>395100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>395100</Sole>
      <Shared>395100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Mid Bancshares Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>320866106</cusip>
    <figi>BBG000BD8VT0</figi>
    <value>1154844</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28037</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28037</Sole>
      <Shared>28037</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Solar Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>336433107</cusip>
    <figi>BBG000BFL116</figi>
    <value>20889045</value>
    <shrsOrPrnAmt>
      <sshPrnamt>105896</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>105896</Sole>
      <Shared>105896</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Solar Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>336433107</cusip>
    <figi>BBG000BFL116</figi>
    <value>10119438</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51300</Sole>
      <Shared>51300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Solar Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>336433107</cusip>
    <figi>BBG000BFL116</figi>
    <value>22744078</value>
    <shrsOrPrnAmt>
      <sshPrnamt>115300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>115300</Sole>
      <Shared>115300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Trust Capital Strength ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>33733E104</cusip>
    <figi>BBG000LGL532</figi>
    <value>7419965</value>
    <shrsOrPrnAmt>
      <sshPrnamt>79991</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>79991</Sole>
      <Shared>79991</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Trust Morningstar Dividend Leaders Index</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>336917109</cusip>
    <figi>BBG000HFZ1Z8</figi>
    <value>4314698</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84935</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>84935</Sole>
      <Shared>84935</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Trust NASDAQ Clean Edge Smart Grid Infrastru</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>33737A108</cusip>
    <figi>BBG000PW59Q8</figi>
    <value>696687</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4259</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4259</Sole>
      <Shared>4259</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Trust Natural Gas Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>33733E807</cusip>
    <figi>BBG000QJPZH6</figi>
    <value>587533</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18540</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18540</Sole>
      <Shared>18540</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Trust RBA American Industrial Renaissance ET</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>33738R704</cusip>
    <figi>BBG0063G4FW4</figi>
    <value>769589</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6947</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6947</Sole>
      <Shared>6947</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>First Watch Restaurant Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>33748L101</cusip>
    <figi>BBG012F6M0G2</figi>
    <value>806205</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76928</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>76928</Sole>
      <Shared>76928</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Firstenergy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>337932107</cusip>
    <figi>BBG000BB6M98</figi>
    <value>501534</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9900</Sole>
      <Shared>9900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FirstService Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>33767E202</cusip>
    <figi>BBG0093MWSL8</figi>
    <value>6696908</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>48200</Sole>
      <Shared>48200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fiserv Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>337738108</cusip>
    <figi>BBG000BJKPG0</figi>
    <value>4832280</value>
    <shrsOrPrnAmt>
      <sshPrnamt>86600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>86600</Sole>
      <Shared>86600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fiserv Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>337738108</cusip>
    <figi>BBG000BJKPG0</figi>
    <value>15194340</value>
    <shrsOrPrnAmt>
      <sshPrnamt>272300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>272300</Sole>
      <Shared>272300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Five Below Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>33829M101</cusip>
    <figi>BBG001636CR2</figi>
    <value>28636769</value>
    <shrsOrPrnAmt>
      <sshPrnamt>125336</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>125336</Sole>
      <Shared>125336</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Five Below Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>33829M101</cusip>
    <figi>BBG001636CR2</figi>
    <value>913920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4000</Sole>
      <Shared>4000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Five9 Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>338307101</cusip>
    <figi>BBG001KHJM17</figi>
    <value>7899914</value>
    <shrsOrPrnAmt>
      <sshPrnamt>520759</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>520759</Sole>
      <Shared>520759</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Five9 Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>338307101</cusip>
    <figi>BBG001KHJM17</figi>
    <value>2037331</value>
    <shrsOrPrnAmt>
      <sshPrnamt>134300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>134300</Sole>
      <Shared>134300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Five9 Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>338307101</cusip>
    <figi>BBG001KHJM17</figi>
    <value>247271</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16300</Sole>
      <Shared>16300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fiverr International Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M4R82T106</cusip>
    <figi>BBG002YSC5M7</figi>
    <value>373746</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37300</Sole>
      <Shared>37300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fiverr International Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M4R82T106</cusip>
    <figi>BBG002YSC5M7</figi>
    <value>357714</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35700</Sole>
      <Shared>35700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Flagstar Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>649445400</cusip>
    <figi>BBG000BVXPZ8</figi>
    <value>3412242</value>
    <shrsOrPrnAmt>
      <sshPrnamt>259092</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>259092</Sole>
      <Shared>259092</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Flagstar Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>649445400</cusip>
    <figi>BBG000BVXPZ8</figi>
    <value>1260369</value>
    <shrsOrPrnAmt>
      <sshPrnamt>95700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>95700</Sole>
      <Shared>95700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Flagstar Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>649445400</cusip>
    <figi>BBG000BVXPZ8</figi>
    <value>1390752</value>
    <shrsOrPrnAmt>
      <sshPrnamt>105600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>105600</Sole>
      <Shared>105600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Flex Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>Y2573F102</cusip>
    <figi>BBG000BP5YT0</figi>
    <value>4840898</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73952</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>73952</Sole>
      <Shared>73952</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Flex Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>Y2573F102</cusip>
    <figi>BBG000BP5YT0</figi>
    <value>1865610</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28500</Sole>
      <Shared>28500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Floor &amp; Decor Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>339750101</cusip>
    <figi>BBG007GJ2F81</figi>
    <value>1087120</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21400</Sole>
      <Shared>21400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Floor &amp; Decor Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>339750101</cusip>
    <figi>BBG007GJ2F81</figi>
    <value>1407160</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27700</Sole>
      <Shared>27700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Flowserve Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>34354P105</cusip>
    <figi>BBG000FFH4P5</figi>
    <value>352848</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4800</Sole>
      <Shared>4800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Flowserve Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>34354P105</cusip>
    <figi>BBG000FFH4P5</figi>
    <value>316093</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4300</Sole>
      <Shared>4300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fluence Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>34379V103</cusip>
    <figi>BBG012QSDSK6</figi>
    <value>6684319</value>
    <shrsOrPrnAmt>
      <sshPrnamt>485779</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>485779</Sole>
      <Shared>485779</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fluence Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>34379V103</cusip>
    <figi>BBG012QSDSK6</figi>
    <value>221536</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16100</Sole>
      <Shared>16100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fluor Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>343412102</cusip>
    <figi>BBG000BB1TH9</figi>
    <value>1558110</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33400</Sole>
      <Shared>33400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Flutter Entertainment PLC - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G3643J108</cusip>
    <figi>BBG000P2GPN9</figi>
    <value>11489153</value>
    <shrsOrPrnAmt>
      <sshPrnamt>112694</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>112694</Sole>
      <Shared>112694</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Flutter Entertainment PLC - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G3643J108</cusip>
    <figi>BBG000P2GPN9</figi>
    <value>4332875</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42500</Sole>
      <Shared>42500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Flutter Entertainment PLC - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G3643J108</cusip>
    <figi>BBG000P2GPN9</figi>
    <value>5199450</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51000</Sole>
      <Shared>51000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Flywire Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>302492103</cusip>
    <figi>BBG002030NC4</figi>
    <value>133860</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11500</Sole>
      <Shared>11500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fmc Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>302491303</cusip>
    <figi>BBG000BJP882</figi>
    <value>8388034</value>
    <shrsOrPrnAmt>
      <sshPrnamt>487110</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>487110</Sole>
      <Shared>487110</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fmc Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>302491303</cusip>
    <figi>BBG000BJP882</figi>
    <value>229026</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13300</Sole>
      <Shared>13300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fmc Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>302491303</cusip>
    <figi>BBG000BJP882</figi>
    <value>327180</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19000</Sole>
      <Shared>19000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fnb Corp/Pa - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>302520101</cusip>
    <figi>BBG000BJ9B29</figi>
    <value>30835776</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1844245</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1844245</Sole>
      <Shared>1844245</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ford Motor Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>345370860</cusip>
    <figi>BBG000BQPC32</figi>
    <value>117708</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10200</Sole>
      <Shared>10200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ford Motor Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>345370860</cusip>
    <figi>BBG000BQPC32</figi>
    <value>856268</value>
    <shrsOrPrnAmt>
      <sshPrnamt>74200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>74200</Sole>
      <Shared>74200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Forgent Power Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>34631F102</cusip>
    <figi>BBG01ZJ9DR98</figi>
    <value>8994115</value>
    <shrsOrPrnAmt>
      <sshPrnamt>307281</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>307281</Sole>
      <Shared>307281</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Formfactor Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>346375108</cusip>
    <figi>BBG000D1Y3P1</figi>
    <value>13702941</value>
    <shrsOrPrnAmt>
      <sshPrnamt>141282</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>141282</Sole>
      <Shared>141282</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fortinet Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>34959E109</cusip>
    <figi>BBG000BCMBG4</figi>
    <value>833544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10200</Sole>
      <Shared>10200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fortinet Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>34959E109</cusip>
    <figi>BBG000BCMBG4</figi>
    <value>11506176</value>
    <shrsOrPrnAmt>
      <sshPrnamt>140800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>140800</Sole>
      <Shared>140800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fortis Inc/Canada - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>349553107</cusip>
    <figi>BBG000K9SSS5</figi>
    <value>257917</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4623</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4623</Sole>
      <Shared>4623</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Forum Energy Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>34984V209</cusip>
    <figi>BBG000PDVKL1</figi>
    <value>461889</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7874</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7874</Sole>
      <Shared>7874</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Forum Markets Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68236V401</cusip>
    <figi>BBG00H1CP0B4</figi>
    <value>28900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10000</Sole>
      <Shared>10000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Forward Air Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>34986A104</cusip>
    <figi>BBG000BRCHB4</figi>
    <value>788144</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47166</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>47166</Sole>
      <Shared>47166</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Four Corners Property Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>35086T109</cusip>
    <figi>BBG009H33QM0</figi>
    <value>6667124</value>
    <shrsOrPrnAmt>
      <sshPrnamt>281908</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>281908</Sole>
      <Shared>281908</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fox Corp - Class A</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>35137L105</cusip>
    <figi>BBG00JHNJW99</figi>
    <value>11629192</value>
    <shrsOrPrnAmt>
      <sshPrnamt>199130</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>199130</Sole>
      <Shared>199130</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fox Corp - Class A</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>35137L105</cusip>
    <figi>BBG00JHNJW99</figi>
    <value>309520</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5300</Sole>
      <Shared>5300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fox Corp- Class B</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>35137L204</cusip>
    <figi>BBG00JHNKJY8</figi>
    <value>3736169</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70361</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>70361</Sole>
      <Shared>70361</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Franco-Nevada Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>351858105</cusip>
    <figi>BBG000RD3CL8</figi>
    <value>3986399</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16136</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16136</Sole>
      <Shared>16136</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Franco-Nevada Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>351858105</cusip>
    <figi>BBG000RD3CL8</figi>
    <value>494100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2000</Sole>
      <Shared>2000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Franco-Nevada Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>351858105</cusip>
    <figi>BBG000RD3CL8</figi>
    <value>3829275</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15500</Sole>
      <Shared>15500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Franklin Electric Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>353514102</cusip>
    <figi>BBG000BJGGV8</figi>
    <value>2909254</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31564</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31564</Sole>
      <Shared>31564</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Franklin Resources Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>354613101</cusip>
    <figi>BBG000BD0TF8</figi>
    <value>276354</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11700</Sole>
      <Shared>11700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Freeport-Mcmoran Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>35671D857</cusip>
    <figi>BBG000BJDB15</figi>
    <value>7418212</value>
    <shrsOrPrnAmt>
      <sshPrnamt>126203</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>126203</Sole>
      <Shared>126203</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Freeport-Mcmoran Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>35671D857</cusip>
    <figi>BBG000BJDB15</figi>
    <value>7941178</value>
    <shrsOrPrnAmt>
      <sshPrnamt>135100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>135100</Sole>
      <Shared>135100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Freeport-Mcmoran Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>35671D857</cusip>
    <figi>BBG000BJDB15</figi>
    <value>66350864</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1128800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1128800</Sole>
      <Shared>1128800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Frequency Electronics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>358010106</cusip>
    <figi>BBG000BJG3B9</figi>
    <value>429853</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9712</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9712</Sole>
      <Shared>9712</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Freshpet Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>358039105</cusip>
    <figi>BBG001D0HB36</figi>
    <value>271216</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4600</Sole>
      <Shared>4600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Freshpet Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>358039105</cusip>
    <figi>BBG001D0HB36</figi>
    <value>336072</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5700</Sole>
      <Shared>5700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Freshworks Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>358054104</cusip>
    <figi>BBG0029KYGL5</figi>
    <value>2078646</value>
    <shrsOrPrnAmt>
      <sshPrnamt>258860</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>258860</Sole>
      <Shared>258860</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Frontdoor Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>35905A109</cusip>
    <figi>BBG00H9MNDZ2</figi>
    <value>6879253</value>
    <shrsOrPrnAmt>
      <sshPrnamt>130141</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>130141</Sole>
      <Shared>130141</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Frontier Group Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>35909R108</cusip>
    <figi>BBG00GCTTK65</figi>
    <value>4024885</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1140194</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1140194</Sole>
      <Shared>1140194</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Frontline PLC - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>M46528101</cusip>
    <figi>BBG000BTQNQ6</figi>
    <value>24394366</value>
    <shrsOrPrnAmt>
      <sshPrnamt>699781</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>699781</Sole>
      <Shared>699781</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Frontline PLC - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M46528101</cusip>
    <figi>BBG000BTQNQ6</figi>
    <value>1146894</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32900</Sole>
      <Shared>32900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Frontline PLC - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M46528101</cusip>
    <figi>BBG000BTQNQ6</figi>
    <value>1045800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30000</Sole>
      <Shared>30000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fs Kkr Capital Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>302635206</cusip>
    <figi>BBG001YCZP63</figi>
    <value>501874</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49300</Sole>
      <Shared>49300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FuboTV Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>35953D401</cusip>
    <figi>BBG002CV4Q74</figi>
    <value>1775273</value>
    <shrsOrPrnAmt>
      <sshPrnamt>187661</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>187661</Sole>
      <Shared>187661</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Fulgent Genetics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>359664109</cusip>
    <figi>BBG00DR7LTG2</figi>
    <value>1018983</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64087</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>64087</Sole>
      <Shared>64087</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Funko Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>361008105</cusip>
    <figi>BBG00HXSHDQ9</figi>
    <value>227443</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72204</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>72204</Sole>
      <Shared>72204</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Futu Holdings Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>36118L106</cusip>
    <figi>BBG00MYXW4R8</figi>
    <value>1775418</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12982</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12982</Sole>
      <Shared>12982</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Futu Holdings Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>36118L106</cusip>
    <figi>BBG00MYXW4R8</figi>
    <value>3473704</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25400</Sole>
      <Shared>25400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Galaxy Digital Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>36317J209</cusip>
    <figi>BBG0120SWLS0</figi>
    <value>1583730</value>
    <shrsOrPrnAmt>
      <sshPrnamt>85839</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>85839</Sole>
      <Shared>85839</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Galaxy Digital Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>36317J209</cusip>
    <figi>BBG0120SWLS0</figi>
    <value>780435</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42300</Sole>
      <Shared>42300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Galiano Gold Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>36352H100</cusip>
    <figi>BBG000R11130</figi>
    <value>67795</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27010</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27010</Sole>
      <Shared>27010</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gamestop Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>36467W109</cusip>
    <figi>BBG000BB5BF6</figi>
    <value>21703680</value>
    <shrsOrPrnAmt>
      <sshPrnamt>942000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>942000</Sole>
      <Shared>942000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gamestop Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>36467W109</cusip>
    <figi>BBG000BB5BF6</figi>
    <value>3345408</value>
    <shrsOrPrnAmt>
      <sshPrnamt>145200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>145200</Sole>
      <Shared>145200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gamestop Corp - US</nameOfIssuer>
    <titleOfClass>Warrant / Rights</titleOfClass>
    <cusip>36467W117</cusip>
    <figi>BBG01X5XYNK8</figi>
    <value>72334</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18739</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18739</Sole>
      <Shared>18739</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gaming And Leisure Properties Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>36467J108</cusip>
    <figi>BBG003MSMCS6</figi>
    <value>5185877</value>
    <shrsOrPrnAmt>
      <sshPrnamt>116878</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>116878</Sole>
      <Shared>116878</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gaotu Techedu Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>36257Y109</cusip>
    <figi>BBG00P3BYJY0</figi>
    <value>99176</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50600</Sole>
      <Shared>50600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gap Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>364760108</cusip>
    <figi>BBG000BKLH74</figi>
    <value>353320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14600</Sole>
      <Shared>14600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Garmin Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>H2906T109</cusip>
    <figi>BBG000C4LN67</figi>
    <value>12296066</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52998</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52998</Sole>
      <Shared>52998</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Garmin Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H2906T109</cusip>
    <figi>BBG000C4LN67</figi>
    <value>1113648</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4800</Sole>
      <Shared>4800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Garmin Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H2906T109</cusip>
    <figi>BBG000C4LN67</figi>
    <value>440819</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1900</Sole>
      <Shared>1900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Garrett Motion Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>366505105</cusip>
    <figi>BBG00HY28P97</figi>
    <value>4974110</value>
    <shrsOrPrnAmt>
      <sshPrnamt>273754</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>273754</Sole>
      <Shared>273754</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gartner Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>366651107</cusip>
    <figi>BBG000BB65D0</figi>
    <value>11035506</value>
    <shrsOrPrnAmt>
      <sshPrnamt>69695</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>69695</Sole>
      <Shared>69695</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gartner Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>366651107</cusip>
    <figi>BBG000BB65D0</figi>
    <value>538356</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3400</Sole>
      <Shared>3400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gartner Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>366651107</cusip>
    <figi>BBG000BB65D0</figi>
    <value>617526</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3900</Sole>
      <Shared>3900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gates Industrial Corp Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G39108108</cusip>
    <figi>BBG00JM9V731</figi>
    <value>454710</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20111</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20111</Sole>
      <Shared>20111</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gatx Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>361448103</cusip>
    <figi>BBG000BKGXQ4</figi>
    <value>31062387</value>
    <shrsOrPrnAmt>
      <sshPrnamt>181928</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>181928</Sole>
      <Shared>181928</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GCI Liberty Inc - US Series C</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>36164V800</cusip>
    <figi>BBG01VV3SMG3</figi>
    <value>3636905</value>
    <shrsOrPrnAmt>
      <sshPrnamt>97740</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>97740</Sole>
      <Shared>97740</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gds Holdings Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>36165L108</cusip>
    <figi>BBG00DYK7TL5</figi>
    <value>306204</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7600</Sole>
      <Shared>7600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GE HealthCare Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>36266G107</cusip>
    <figi>BBG01BFR8YV1</figi>
    <value>1097240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15415</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15415</Sole>
      <Shared>15415</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GE HealthCare Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>36266G107</cusip>
    <figi>BBG01BFR8YV1</figi>
    <value>1900506</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26700</Sole>
      <Shared>26700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GE HealthCare Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>36266G107</cusip>
    <figi>BBG01BFR8YV1</figi>
    <value>1281240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18000</Sole>
      <Shared>18000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GE Vernova LLC - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>36828A101</cusip>
    <figi>BBG013G17W31</figi>
    <value>1328554</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1522</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1522</Sole>
      <Shared>1522</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GE Vernova LLC - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>36828A101</cusip>
    <figi>BBG013G17W31</figi>
    <value>7157780</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8200</Sole>
      <Shared>8200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GE Vernova LLC - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>36828A101</cusip>
    <figi>BBG013G17W31</figi>
    <value>40851720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46800</Sole>
      <Shared>46800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gemini Space Station Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>36866J105</cusip>
    <figi>BBG01VZB6S81</figi>
    <value>430181</value>
    <shrsOrPrnAmt>
      <sshPrnamt>97326</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>97326</Sole>
      <Shared>97326</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gen Digital Inc - CVR</nameOfIssuer>
    <titleOfClass>Contingent Value Rights</titleOfClass>
    <cusip>668771116</cusip>
    <figi>BBG01R72Q4C7</figi>
    <value>130211</value>
    <shrsOrPrnAmt>
      <sshPrnamt>276456</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>276456</Sole>
      <Shared>276456</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gen Digital Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>668771108</cusip>
    <figi>BBG000BH2JM1</figi>
    <value>2977852</value>
    <shrsOrPrnAmt>
      <sshPrnamt>158144</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>158144</Sole>
      <Shared>158144</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gen Digital Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>668771108</cusip>
    <figi>BBG000BH2JM1</figi>
    <value>617624</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32800</Sole>
      <Shared>32800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gen Digital Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>668771108</cusip>
    <figi>BBG000BH2JM1</figi>
    <value>203364</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10800</Sole>
      <Shared>10800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GeneDx Holdings Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>81663L200</cusip>
    <figi>BBG00XDHY5P9</figi>
    <value>2153939</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33540</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33540</Sole>
      <Shared>33540</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GeneDx Holdings Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>81663L200</cusip>
    <figi>BBG00XDHY5P9</figi>
    <value>687154</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10700</Sole>
      <Shared>10700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GeneDx Holdings Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>81663L200</cusip>
    <figi>BBG00XDHY5P9</figi>
    <value>475228</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7400</Sole>
      <Shared>7400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Generac Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>368736104</cusip>
    <figi>BBG000PQ4W72</figi>
    <value>2558823</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13100</Sole>
      <Shared>13100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Generac Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>368736104</cusip>
    <figi>BBG000PQ4W72</figi>
    <value>3926133</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20100</Sole>
      <Shared>20100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>General Dynamics Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>369550108</cusip>
    <figi>BBG000BK67C7</figi>
    <value>31483914</value>
    <shrsOrPrnAmt>
      <sshPrnamt>91731</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>91731</Sole>
      <Shared>91731</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>General Dynamics Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>369550108</cusip>
    <figi>BBG000BK67C7</figi>
    <value>205932</value>
    <shrsOrPrnAmt>
      <sshPrnamt>600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>600</Sole>
      <Shared>600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>General Dynamics Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>369550108</cusip>
    <figi>BBG000BK67C7</figi>
    <value>3603810</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10500</Sole>
      <Shared>10500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>General Electric Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>369604301</cusip>
    <figi>BBG000BK6MB5</figi>
    <value>8307651</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29276</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29276</Sole>
      <Shared>29276</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>General Electric Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>369604301</cusip>
    <figi>BBG000BK6MB5</figi>
    <value>43870842</value>
    <shrsOrPrnAmt>
      <sshPrnamt>154600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>154600</Sole>
      <Shared>154600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>General Electric Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>369604301</cusip>
    <figi>BBG000BK6MB5</figi>
    <value>29909358</value>
    <shrsOrPrnAmt>
      <sshPrnamt>105400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>105400</Sole>
      <Shared>105400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>General Mills Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>370334104</cusip>
    <figi>BBG000BKCFC2</figi>
    <value>9075278</value>
    <shrsOrPrnAmt>
      <sshPrnamt>243828</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>243828</Sole>
      <Shared>243828</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>General Mills Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>370334104</cusip>
    <figi>BBG000BKCFC2</figi>
    <value>5002368</value>
    <shrsOrPrnAmt>
      <sshPrnamt>134400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>134400</Sole>
      <Shared>134400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>General Mills Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>370334104</cusip>
    <figi>BBG000BKCFC2</figi>
    <value>11102726</value>
    <shrsOrPrnAmt>
      <sshPrnamt>298300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>298300</Sole>
      <Shared>298300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>General Motors Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>37045V100</cusip>
    <figi>BBG000NDYB67</figi>
    <value>10907694</value>
    <shrsOrPrnAmt>
      <sshPrnamt>146412</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>146412</Sole>
      <Shared>146412</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>General Motors Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>37045V100</cusip>
    <figi>BBG000NDYB67</figi>
    <value>1564500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21000</Sole>
      <Shared>21000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>General Motors Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>37045V100</cusip>
    <figi>BBG000NDYB67</figi>
    <value>14639250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>196500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>196500</Sole>
      <Shared>196500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Generate Biomedicines Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>370920100</cusip>
    <figi>BBG00X9D0NZ0</figi>
    <value>297913</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23833</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23833</Sole>
      <Shared>23833</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Genius Sports Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G3934V109</cusip>
    <figi>BBG00YXVPVC1</figi>
    <value>3986039</value>
    <shrsOrPrnAmt>
      <sshPrnamt>899783</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>899783</Sole>
      <Shared>899783</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gentherm Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>37253A103</cusip>
    <figi>BBG000BQLM34</figi>
    <value>2615904</value>
    <shrsOrPrnAmt>
      <sshPrnamt>94165</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>94165</Sole>
      <Shared>94165</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Genuine Parts Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>372460105</cusip>
    <figi>BBG000BKL348</figi>
    <value>9719271</value>
    <shrsOrPrnAmt>
      <sshPrnamt>91908</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>91908</Sole>
      <Shared>91908</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Genuine Parts Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>372460105</cusip>
    <figi>BBG000BKL348</figi>
    <value>549900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5200</Sole>
      <Shared>5200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Genworth Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>37247D106</cusip>
    <figi>BBG000J5Q6L2</figi>
    <value>1308441</value>
    <shrsOrPrnAmt>
      <sshPrnamt>161138</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>161138</Sole>
      <Shared>161138</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Geo Group Inc/The - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>36162J106</cusip>
    <figi>BBG000GC0TZ3</figi>
    <value>1167925</value>
    <shrsOrPrnAmt>
      <sshPrnamt>69478</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>69478</Sole>
      <Shared>69478</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Geo Group Inc/The - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>36162J106</cusip>
    <figi>BBG000GC0TZ3</figi>
    <value>1427169</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>84900</Sole>
      <Shared>84900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Geo Group Inc/The - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>36162J106</cusip>
    <figi>BBG000GC0TZ3</figi>
    <value>564816</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33600</Sole>
      <Shared>33600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>German American Bancorp Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>373865104</cusip>
    <figi>BBG000BH7CW0</figi>
    <value>4396768</value>
    <shrsOrPrnAmt>
      <sshPrnamt>105211</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>105211</Sole>
      <Shared>105211</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gfl Environmental Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>36168Q104</cusip>
    <figi>BBG00PQS00S3</figi>
    <value>2791110</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66901</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>66901</Sole>
      <Shared>66901</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gh Research Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G3855L106</cusip>
    <figi>BBG011BQC379</figi>
    <value>260954</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18560</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18560</Sole>
      <Shared>18560</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GigaCloud Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G38644103</cusip>
    <figi>BBG018PWQD97</figi>
    <value>1069198</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23561</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23561</Sole>
      <Shared>23561</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>G-Iii Apparel Group Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>36237H101</cusip>
    <figi>BBG000C2YZ60</figi>
    <value>2837311</value>
    <shrsOrPrnAmt>
      <sshPrnamt>102430</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>102430</Sole>
      <Shared>102430</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gilead Sciences Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>375558103</cusip>
    <figi>BBG000CKGBP2</figi>
    <value>8134888</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58369</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58369</Sole>
      <Shared>58369</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gilead Sciences Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>375558103</cusip>
    <figi>BBG000CKGBP2</figi>
    <value>1742125</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12500</Sole>
      <Shared>12500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gilead Sciences Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>375558103</cusip>
    <figi>BBG000CKGBP2</figi>
    <value>4515588</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32400</Sole>
      <Shared>32400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ginkgo Bioworks Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>37611X209</cusip>
    <figi>BBG00YPS1KY3</figi>
    <value>2848384</value>
    <shrsOrPrnAmt>
      <sshPrnamt>464663</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>464663</Sole>
      <Shared>464663</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gitlab Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>37637K108</cusip>
    <figi>BBG00DHTYPH8</figi>
    <value>8539663</value>
    <shrsOrPrnAmt>
      <sshPrnamt>394624</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>394624</Sole>
      <Shared>394624</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gitlab Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>37637K108</cusip>
    <figi>BBG00DHTYPH8</figi>
    <value>3001468</value>
    <shrsOrPrnAmt>
      <sshPrnamt>138700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>138700</Sole>
      <Shared>138700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gitlab Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>37637K108</cusip>
    <figi>BBG00DHTYPH8</figi>
    <value>4886312</value>
    <shrsOrPrnAmt>
      <sshPrnamt>225800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>225800</Sole>
      <Shared>225800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gladstone Investment Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>376546107</cusip>
    <figi>BBG000C32KN7</figi>
    <value>1777968</value>
    <shrsOrPrnAmt>
      <sshPrnamt>125209</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>125209</Sole>
      <Shared>125209</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Global Industrial Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>37892E102</cusip>
    <figi>BBG000KFPB56</figi>
    <value>2777858</value>
    <shrsOrPrnAmt>
      <sshPrnamt>88130</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>88130</Sole>
      <Shared>88130</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Global Payments Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>37940X102</cusip>
    <figi>BBG000CX0P89</figi>
    <value>2059380</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30600</Sole>
      <Shared>30600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Global Payments Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>37940X102</cusip>
    <figi>BBG000CX0P89</figi>
    <value>2718920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40400</Sole>
      <Shared>40400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Global Ship Lease Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>Y27183600</cusip>
    <figi>BBG000C3TZ64</figi>
    <value>9949606</value>
    <shrsOrPrnAmt>
      <sshPrnamt>267247</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>267247</Sole>
      <Shared>267247</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Global X Cybersecurity ETF - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>37954Y384</cusip>
    <figi>BBG00QNKPSW8</figi>
    <value>3914649</value>
    <shrsOrPrnAmt>
      <sshPrnamt>155900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>155900</Sole>
      <Shared>155900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Global X Cybersecurity ETF - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>37954Y384</cusip>
    <figi>BBG00QNKPSW8</figi>
    <value>3964869</value>
    <shrsOrPrnAmt>
      <sshPrnamt>157900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>157900</Sole>
      <Shared>157900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Global X Cybersecurity ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>37954Y384</cusip>
    <figi>BBG00QNKPSW8</figi>
    <value>4096094</value>
    <shrsOrPrnAmt>
      <sshPrnamt>163126</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>163126</Sole>
      <Shared>163126</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Global X Uranium Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>37954Y871</cusip>
    <figi>BBG0018JWV58</figi>
    <value>968600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20000</Sole>
      <Shared>20000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Global X US Infrastructure Development ETF - US ET</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>37954Y673</cusip>
    <figi>BBG00G5CR8N0</figi>
    <value>2517483</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49547</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49547</Sole>
      <Shared>49547</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Globalfoundries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G39387108</cusip>
    <figi>BBG000C2L5G9</figi>
    <value>896672</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20159</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20159</Sole>
      <Shared>20159</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Globalfoundries Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G39387108</cusip>
    <figi>BBG000C2L5G9</figi>
    <value>2415264</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>54300</Sole>
      <Shared>54300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Globalstar Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>378973507</cusip>
    <figi>BBG000K008L5</figi>
    <value>8397481</value>
    <shrsOrPrnAmt>
      <sshPrnamt>126430</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>126430</Sole>
      <Shared>126430</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Globalstar Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>378973507</cusip>
    <figi>BBG000K008L5</figi>
    <value>2318058</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34900</Sole>
      <Shared>34900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Globalstar Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>378973507</cusip>
    <figi>BBG000K008L5</figi>
    <value>5565996</value>
    <shrsOrPrnAmt>
      <sshPrnamt>83800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>83800</Sole>
      <Shared>83800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Globant Sa - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>L44385109</cusip>
    <figi>BBG00564Y443</figi>
    <value>733149</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15900</Sole>
      <Shared>15900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Godaddy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>380237107</cusip>
    <figi>BBG006MDLY05</figi>
    <value>6661797</value>
    <shrsOrPrnAmt>
      <sshPrnamt>80583</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>80583</Sole>
      <Shared>80583</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Godaddy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>380237107</cusip>
    <figi>BBG006MDLY05</figi>
    <value>1173914</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14200</Sole>
      <Shared>14200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Godaddy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>380237107</cusip>
    <figi>BBG006MDLY05</figi>
    <value>1099511</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13300</Sole>
      <Shared>13300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gogo Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>38046C109</cusip>
    <figi>BBG002CN8XN5</figi>
    <value>4046166</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1006509</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1006509</Sole>
      <Shared>1006509</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Golar Lng Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G9456A100</cusip>
    <figi>BBG000K14TT5</figi>
    <value>20231891</value>
    <shrsOrPrnAmt>
      <sshPrnamt>373903</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>373903</Sole>
      <Shared>373903</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Golar Lng Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G9456A100</cusip>
    <figi>BBG000K14TT5</figi>
    <value>1612478</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29800</Sole>
      <Shared>29800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Golar Lng Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G9456A100</cusip>
    <figi>BBG000K14TT5</figi>
    <value>2434950</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45000</Sole>
      <Shared>45000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gold Fields Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>38059T106</cusip>
    <figi>BBG000KHT4K7</figi>
    <value>370282</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8156</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8156</Sole>
      <Shared>8156</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gold Fields Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>38059T106</cusip>
    <figi>BBG000KHT4K7</figi>
    <value>272400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6000</Sole>
      <Shared>6000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gold Fields Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>38059T106</cusip>
    <figi>BBG000KHT4K7</figi>
    <value>640140</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14100</Sole>
      <Shared>14100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gold Royalty Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>38071H106</cusip>
    <figi>BBG00ZGH4798</figi>
    <value>1118345</value>
    <shrsOrPrnAmt>
      <sshPrnamt>312387</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>312387</Sole>
      <Shared>312387</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gold.com Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>00181T107</cusip>
    <figi>BBG005ZVDK48</figi>
    <value>220440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5500</Sole>
      <Shared>5500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Goldman Sachs Group Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>38141G104</cusip>
    <figi>BBG000C6CFJ5</figi>
    <value>57442721</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>67900</Sole>
      <Shared>67900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Goldman Sachs Group Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>38141G104</cusip>
    <figi>BBG000C6CFJ5</figi>
    <value>132228237</value>
    <shrsOrPrnAmt>
      <sshPrnamt>156300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>156300</Sole>
      <Shared>156300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Goldman Sachs Physical Gold ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>38150K103</cusip>
    <figi>BBG00LPXX872</figi>
    <value>1928433</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41750</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41750</Sole>
      <Shared>41750</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Goodrx Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>38246G108</cusip>
    <figi>BBG00X0VP8D9</figi>
    <value>25284</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12900</Sole>
      <Shared>12900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Goodyear Tire &amp; Rubber Co/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>382550101</cusip>
    <figi>BBG000BKNX95</figi>
    <value>8897042</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1341937</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1341937</Sole>
      <Shared>1341937</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Goodyear Tire &amp; Rubber Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>382550101</cusip>
    <figi>BBG000BKNX95</figi>
    <value>341445</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51500</Sole>
      <Shared>51500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Goosehead Insurance Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>38267D109</cusip>
    <figi>BBG00KHHBMC5</figi>
    <value>11297904</value>
    <shrsOrPrnAmt>
      <sshPrnamt>264836</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>264836</Sole>
      <Shared>264836</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gorilla Technology Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G4000K175</cusip>
    <figi>BBG008CRFZY8</figi>
    <value>719199</value>
    <shrsOrPrnAmt>
      <sshPrnamt>68300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>68300</Sole>
      <Shared>68300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gorman-Rupp Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>383082104</cusip>
    <figi>BBG000BKN0V2</figi>
    <value>5218920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>84000</Sole>
      <Shared>84000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gossamer Bio Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>38341P102</cusip>
    <figi>BBG00MVWLLM2</figi>
    <value>37855</value>
    <shrsOrPrnAmt>
      <sshPrnamt>115237</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>115237</Sole>
      <Shared>115237</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAB HOLDINGS LTD - CL A - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G4124C109</cusip>
    <figi>BBG011768M53</figi>
    <value>6500072</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1775976</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1775976</Sole>
      <Shared>1775976</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAB HOLDINGS LTD - CL A - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G4124C109</cusip>
    <figi>BBG011768M53</figi>
    <value>549000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>150000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>150000</Sole>
      <Shared>150000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Graftech International Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>384313607</cusip>
    <figi>BBG00KDYT8C4</figi>
    <value>185074</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27297</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27297</Sole>
      <Shared>27297</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAIL Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>384747101</cusip>
    <figi>BBG01N6CGW43</figi>
    <value>1626111</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31465</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31465</Sole>
      <Shared>31465</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAIL Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>384747101</cusip>
    <figi>BBG01N6CGW43</figi>
    <value>253232</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4900</Sole>
      <Shared>4900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GRAIL Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>384747101</cusip>
    <figi>BBG01N6CGW43</figi>
    <value>480624</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9300</Sole>
      <Shared>9300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Grand Canyon Education Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>38526M106</cusip>
    <figi>BBG000FV28W9</figi>
    <value>976992</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5746</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5746</Sole>
      <Shared>5746</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Granite Construction Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>387328107</cusip>
    <figi>BBG000DVB833</figi>
    <value>16388315</value>
    <shrsOrPrnAmt>
      <sshPrnamt>136706</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>136706</Sole>
      <Shared>136706</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Graniteshares Gold Trust - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>38748G101</cusip>
    <figi>BBG00HBPWNN3</figi>
    <value>245089</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5313</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5313</Sole>
      <Shared>5313</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Graphic Packaging Holding Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>388689101</cusip>
    <figi>BBG000GQ7K93</figi>
    <value>15763399</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1585855</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1585855</Sole>
      <Shared>1585855</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Green Dot Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>39304D102</cusip>
    <figi>BBG000QDJT53</figi>
    <value>169343</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15093</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15093</Sole>
      <Shared>15093</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Green Plains Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>393222104</cusip>
    <figi>BBG000KYNTQ5</figi>
    <value>2869916</value>
    <shrsOrPrnAmt>
      <sshPrnamt>174463</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>174463</Sole>
      <Shared>174463</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Greenbrier Cos Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>393657101</cusip>
    <figi>BBG000CF5097</figi>
    <value>12226120</value>
    <shrsOrPrnAmt>
      <sshPrnamt>232215</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>232215</Sole>
      <Shared>232215</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Grid Dynamics Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>39813G109</cusip>
    <figi>BBG00MDLZN92</figi>
    <value>804430</value>
    <shrsOrPrnAmt>
      <sshPrnamt>141128</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>141128</Sole>
      <Shared>141128</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Grindr Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>39854F101</cusip>
    <figi>BBG00YV3H700</figi>
    <value>5561400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>460000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>460000</Sole>
      <Shared>460000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Grocery Outlet Holding Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>39874R101</cusip>
    <figi>BBG00P4R3079</figi>
    <value>706093</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100155</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100155</Sole>
      <Shared>100155</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Group 1 Automotive Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>398905109</cusip>
    <figi>BBG000BB88K4</figi>
    <value>14854545</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44928</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44928</Sole>
      <Shared>44928</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Grupo Financiero Galicia Sa - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>399909100</cusip>
    <figi>BBG000F646H3</figi>
    <value>559539</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11979</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11979</Sole>
      <Shared>11979</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Grupo Financiero Galicia Sa - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>399909100</cusip>
    <figi>BBG000F646H3</figi>
    <value>2097279</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44900</Sole>
      <Shared>44900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Grupo Financiero Galicia Sa - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>399909100</cusip>
    <figi>BBG000F646H3</figi>
    <value>3568644</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>76400</Sole>
      <Shared>76400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GSK PLC - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>37733W204</cusip>
    <figi>BBG000BLB481</figi>
    <value>634685</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11500</Sole>
      <Shared>11500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GSK PLC - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>37733W204</cusip>
    <figi>BBG000BLB481</figi>
    <value>2163448</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39200</Sole>
      <Shared>39200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Guidewire Software Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>40171V100</cusip>
    <figi>BBG001C7PM75</figi>
    <value>478592</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3200</Sole>
      <Shared>3200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Guidewire Software Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>40171V100</cusip>
    <figi>BBG001C7PM75</figi>
    <value>568328</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3800</Sole>
      <Shared>3800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gxo Logistics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>36262G101</cusip>
    <figi>BBG00YDGX945</figi>
    <value>668865</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12900</Sole>
      <Shared>12900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Gxo Logistics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>36262G101</cusip>
    <figi>BBG00YDGX945</figi>
    <value>368135</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7100</Sole>
      <Shared>7100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>H&amp;R Block Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>093671105</cusip>
    <figi>BBG000BLDV98</figi>
    <value>244398</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7700</Sole>
      <Shared>7700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>H&amp;R Block Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>093671105</cusip>
    <figi>BBG000BLDV98</figi>
    <value>622104</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19600</Sole>
      <Shared>19600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hain Celestial Group Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>405217100</cusip>
    <figi>BBG000BQW085</figi>
    <value>256056</value>
    <shrsOrPrnAmt>
      <sshPrnamt>366948</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>366948</Sole>
      <Shared>366948</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hallador Energy Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>40609P105</cusip>
    <figi>BBG000DP9RS0</figi>
    <value>564916</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34700</Sole>
      <Shared>34700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Halliburton Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>406216101</cusip>
    <figi>BBG000BKTFN2</figi>
    <value>19424857</value>
    <shrsOrPrnAmt>
      <sshPrnamt>498201</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>498201</Sole>
      <Shared>498201</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Halliburton Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>406216101</cusip>
    <figi>BBG000BKTFN2</figi>
    <value>705719</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18100</Sole>
      <Shared>18100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Halliburton Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>406216101</cusip>
    <figi>BBG000BKTFN2</figi>
    <value>8367254</value>
    <shrsOrPrnAmt>
      <sshPrnamt>214600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>214600</Sole>
      <Shared>214600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Halozyme Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>40637H109</cusip>
    <figi>BBG000CZ8W54</figi>
    <value>290835</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4500</Sole>
      <Shared>4500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Halozyme Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>40637H109</cusip>
    <figi>BBG000CZ8W54</figi>
    <value>659226</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10200</Sole>
      <Shared>10200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hamilton Insurance Group Ltd - US Class B</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G42706104</cusip>
    <figi>BBG01JRQ9QJ3</figi>
    <value>7813730</value>
    <shrsOrPrnAmt>
      <sshPrnamt>261942</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>261942</Sole>
      <Shared>261942</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hamilton Lane Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>407497106</cusip>
    <figi>BBG00FX58Q66</figi>
    <value>4009895</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40341</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40341</Sole>
      <Shared>40341</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hancock Whitney Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>410120109</cusip>
    <figi>BBG000CBC7D8</figi>
    <value>805304</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12664</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12664</Sole>
      <Shared>12664</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Harley-Davidson Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>412822108</cusip>
    <figi>BBG000BKZTP3</figi>
    <value>244662</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12100</Sole>
      <Shared>12100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Harley-Davidson Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>412822108</cusip>
    <figi>BBG000BKZTP3</figi>
    <value>845196</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41800</Sole>
      <Shared>41800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Harmony Biosciences Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>413197104</cusip>
    <figi>BBG00WBPG4C2</figi>
    <value>1079337</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38534</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38534</Sole>
      <Shared>38534</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Harmony Gold Mining Co Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>413216300</cusip>
    <figi>BBG000BX93G1</figi>
    <value>204421</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13300</Sole>
      <Shared>13300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Harmony Gold Mining Co Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>413216300</cusip>
    <figi>BBG000BX93G1</figi>
    <value>430360</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28000</Sole>
      <Shared>28000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hartford Insurance Group Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>416515104</cusip>
    <figi>BBG000G0Z878</figi>
    <value>9950359</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73581</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>73581</Sole>
      <Shared>73581</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hartford Insurance Group Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>416515104</cusip>
    <figi>BBG000G0Z878</figi>
    <value>283983</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2100</Sole>
      <Shared>2100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hasbro Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>418056107</cusip>
    <figi>BBG000BKVJK4</figi>
    <value>4935622</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52731</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52731</Sole>
      <Shared>52731</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hasbro Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>418056107</cusip>
    <figi>BBG000BKVJK4</figi>
    <value>552240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5900</Sole>
      <Shared>5900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hca Healthcare Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>40412C101</cusip>
    <figi>BBG000QW7VC1</figi>
    <value>662536</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1400</Sole>
      <Shared>1400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hca Healthcare Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>40412C101</cusip>
    <figi>BBG000QW7VC1</figi>
    <value>12682832</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26800</Sole>
      <Shared>26800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hci Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>40416E103</cusip>
    <figi>BBG000F4DVC8</figi>
    <value>5371770</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34744</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34744</Sole>
      <Shared>34744</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hdfc Bank Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>40415F101</cusip>
    <figi>BBG000NWKS18</figi>
    <value>27011047</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1085653</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1085653</Sole>
      <Shared>1085653</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Healthcare Realty Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>42226K105</cusip>
    <figi>BBG000PRJCX9</figi>
    <value>1773399</value>
    <shrsOrPrnAmt>
      <sshPrnamt>104379</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>104379</Sole>
      <Shared>104379</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Healthcare Services Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>421906108</cusip>
    <figi>BBG000BKYVF0</figi>
    <value>519419</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28001</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28001</Sole>
      <Shared>28001</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Healthpeak Properties Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>42250P103</cusip>
    <figi>BBG000BKYDP9</figi>
    <value>2485859</value>
    <shrsOrPrnAmt>
      <sshPrnamt>151300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>151300</Sole>
      <Shared>151300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Healthpeak Properties Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>42250P103</cusip>
    <figi>BBG000BKYDP9</figi>
    <value>236592</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14400</Sole>
      <Shared>14400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hecla Mining Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>422704106</cusip>
    <figi>BBG000BL5W86</figi>
    <value>34545013</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1854268</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1854268</Sole>
      <Shared>1854268</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hecla Mining Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>422704106</cusip>
    <figi>BBG000BL5W86</figi>
    <value>1073088</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57600</Sole>
      <Shared>57600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hecla Mining Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>422704106</cusip>
    <figi>BBG000BL5W86</figi>
    <value>12713112</value>
    <shrsOrPrnAmt>
      <sshPrnamt>682400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>682400</Sole>
      <Shared>682400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Heico Corp.-NEW</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>422806109</cusip>
    <figi>BBG000BL16Q7</figi>
    <value>1726637</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6297</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6297</Sole>
      <Shared>6297</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Heico Corp.-NEW</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>422806109</cusip>
    <figi>BBG000BL16Q7</figi>
    <value>383880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1400</Sole>
      <Shared>1400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Helen Of Troy Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G4388N106</cusip>
    <figi>BBG000BL21Z7</figi>
    <value>759833</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52693</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52693</Sole>
      <Shared>52693</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Helen Of Troy Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G4388N106</cusip>
    <figi>BBG000BL21Z7</figi>
    <value>157178</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10900</Sole>
      <Shared>10900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Helix Energy Solutions Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>42330P107</cusip>
    <figi>BBG000J7Q1L9</figi>
    <value>2476852</value>
    <shrsOrPrnAmt>
      <sshPrnamt>250440</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>250440</Sole>
      <Shared>250440</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Henry Schein Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>806407102</cusip>
    <figi>BBG000BNMMJ3</figi>
    <value>310277</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4210</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4210</Sole>
      <Shared>4210</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Herbalife Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G4412G101</cusip>
    <figi>BBG000MM5VL9</figi>
    <value>1865127</value>
    <shrsOrPrnAmt>
      <sshPrnamt>126707</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>126707</Sole>
      <Shared>126707</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Herc Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>42704L104</cusip>
    <figi>BBG000FNRZ69</figi>
    <value>11536849</value>
    <shrsOrPrnAmt>
      <sshPrnamt>115890</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>115890</Sole>
      <Shared>115890</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hercules Capital Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>427096508</cusip>
    <figi>BBG000C2R8K2</figi>
    <value>147700</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10000</Sole>
      <Shared>10000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Heritage Insurance Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>42727J102</cusip>
    <figi>BBG006D4PF48</figi>
    <value>1314311</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50069</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50069</Sole>
      <Shared>50069</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hershey Co/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>427866108</cusip>
    <figi>BBG000BLHRS2</figi>
    <value>21573993</value>
    <shrsOrPrnAmt>
      <sshPrnamt>103776</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>103776</Sole>
      <Shared>103776</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hershey Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>427866108</cusip>
    <figi>BBG000BLHRS2</figi>
    <value>1954166</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9400</Sole>
      <Shared>9400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hershey Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>427866108</cusip>
    <figi>BBG000BLHRS2</figi>
    <value>3554919</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17100</Sole>
      <Shared>17100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hess Midstream Lp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>428103105</cusip>
    <figi>BBG00R02H8D5</figi>
    <value>29662902</value>
    <shrsOrPrnAmt>
      <sshPrnamt>763131</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>763131</Sole>
      <Shared>763131</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hewlett Packard Enterprise Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>42824C109</cusip>
    <figi>BBG0078W3NQ3</figi>
    <value>4042938</value>
    <shrsOrPrnAmt>
      <sshPrnamt>169800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>169800</Sole>
      <Shared>169800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hewlett Packard Enterprise Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>42824C109</cusip>
    <figi>BBG0078W3NQ3</figi>
    <value>3500070</value>
    <shrsOrPrnAmt>
      <sshPrnamt>147000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>147000</Sole>
      <Shared>147000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HF Sinclair Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>403949100</cusip>
    <figi>BBG0135B2214</figi>
    <value>5115980</value>
    <shrsOrPrnAmt>
      <sshPrnamt>82000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>82000</Sole>
      <Shared>82000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HF Sinclair Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>403949100</cusip>
    <figi>BBG0135B2214</figi>
    <value>1353863</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21700</Sole>
      <Shared>21700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Highpeak Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>43114Q105</cusip>
    <figi>BBG00RD1PYM7</figi>
    <value>1433337</value>
    <shrsOrPrnAmt>
      <sshPrnamt>207730</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>207730</Sole>
      <Shared>207730</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hilltop Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>432748101</cusip>
    <figi>BBG000GM73Y2</figi>
    <value>2148734</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59987</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>59987</Sole>
      <Shared>59987</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hilton Grand Vacations Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>43283X105</cusip>
    <figi>BBG00CBYY6M1</figi>
    <value>8927966</value>
    <shrsOrPrnAmt>
      <sshPrnamt>228220</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>228220</Sole>
      <Shared>228220</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hilton Worldwide Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>43300A203</cusip>
    <figi>BBG0058KMH30</figi>
    <value>5992200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19706</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19706</Sole>
      <Shared>19706</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hilton Worldwide Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>43300A203</cusip>
    <figi>BBG0058KMH30</figi>
    <value>243264</value>
    <shrsOrPrnAmt>
      <sshPrnamt>800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>800</Sole>
      <Shared>800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hilton Worldwide Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>43300A203</cusip>
    <figi>BBG0058KMH30</figi>
    <value>7784448</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25600</Sole>
      <Shared>25600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hims &amp; Hers Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>433000106</cusip>
    <figi>BBG00Q53VYM7</figi>
    <value>23174388</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1116300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1116300</Sole>
      <Shared>1116300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hims &amp; Hers Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>433000106</cusip>
    <figi>BBG00Q53VYM7</figi>
    <value>11939076</value>
    <shrsOrPrnAmt>
      <sshPrnamt>575100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>575100</Sole>
      <Shared>575100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hinge Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>433313103</cusip>
    <figi>BBG00H8V6LH4</figi>
    <value>254496</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6600</Sole>
      <Shared>6600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hologic Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>436440101</cusip>
    <figi>BBG000C3NTN5</figi>
    <value>166056414</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2196804</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2196804</Sole>
      <Shared>2196804</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Home Bancshares Inc/Ar - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>436893200</cusip>
    <figi>BBG000QJXDW9</figi>
    <value>5044447</value>
    <shrsOrPrnAmt>
      <sshPrnamt>187317</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>187317</Sole>
      <Shared>187317</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Home Depot Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>437076102</cusip>
    <figi>BBG000BKZB36</figi>
    <value>5149760</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15658</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15658</Sole>
      <Shared>15658</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Home Depot Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>437076102</cusip>
    <figi>BBG000BKZB36</figi>
    <value>7432914</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22600</Sole>
      <Shared>22600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Home Depot Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>437076102</cusip>
    <figi>BBG000BKZB36</figi>
    <value>42920145</value>
    <shrsOrPrnAmt>
      <sshPrnamt>130500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>130500</Sole>
      <Shared>130500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Honda Motor Co Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>438128308</cusip>
    <figi>BBG000BL6B45</figi>
    <value>10226755</value>
    <shrsOrPrnAmt>
      <sshPrnamt>420681</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>420681</Sole>
      <Shared>420681</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Honda Motor Co Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>438128308</cusip>
    <figi>BBG000BL6B45</figi>
    <value>213928</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8800</Sole>
      <Shared>8800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Honest Co Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>438333106</cusip>
    <figi>BBG002TWLBL2</figi>
    <value>1496892</value>
    <shrsOrPrnAmt>
      <sshPrnamt>509147</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>509147</Sole>
      <Shared>509147</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Honeywell International Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>438516106</cusip>
    <figi>BBG000H556T9</figi>
    <value>17551003</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77649</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>77649</Sole>
      <Shared>77649</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Honeywell International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>438516106</cusip>
    <figi>BBG000H556T9</figi>
    <value>14239890</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>63000</Sole>
      <Shared>63000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Honeywell International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>438516106</cusip>
    <figi>BBG000H556T9</figi>
    <value>48890289</value>
    <shrsOrPrnAmt>
      <sshPrnamt>216300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>216300</Sole>
      <Shared>216300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Horace Mann Educators Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>440327104</cusip>
    <figi>BBG000BL7VL1</figi>
    <value>487747</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11428</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11428</Sole>
      <Shared>11428</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hormel Foods Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>440452100</cusip>
    <figi>BBG000BLF8D2</figi>
    <value>319365</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14100</Sole>
      <Shared>14100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hormel Foods Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>440452100</cusip>
    <figi>BBG000BLF8D2</figi>
    <value>550395</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24300</Sole>
      <Shared>24300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Host Hotels &amp; Resorts Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>44107P104</cusip>
    <figi>BBG000BL8804</figi>
    <value>4201903</value>
    <shrsOrPrnAmt>
      <sshPrnamt>219306</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>219306</Sole>
      <Shared>219306</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Houlihan Lokey Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>441593100</cusip>
    <figi>BBG000CZTB66</figi>
    <value>33422528</value>
    <shrsOrPrnAmt>
      <sshPrnamt>232715</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>232715</Sole>
      <Shared>232715</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Howard Hughes Holdings Inc- US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>44267T102</cusip>
    <figi>BBG01HTMDZ54</figi>
    <value>8460645</value>
    <shrsOrPrnAmt>
      <sshPrnamt>133744</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>133744</Sole>
      <Shared>133744</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Howmet Aerospace Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>443201108</cusip>
    <figi>BBG00DYNJGH9</figi>
    <value>52039251</value>
    <shrsOrPrnAmt>
      <sshPrnamt>225806</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>225806</Sole>
      <Shared>225806</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Howmet Aerospace Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>443201108</cusip>
    <figi>BBG00DYNJGH9</figi>
    <value>1682358</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7300</Sole>
      <Shared>7300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Howmet Aerospace Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>443201108</cusip>
    <figi>BBG00DYNJGH9</figi>
    <value>2926842</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12700</Sole>
      <Shared>12700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hp Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>40434L105</cusip>
    <figi>BBG000KHWT55</figi>
    <value>785689</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40900</Sole>
      <Shared>40900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hp Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>40434L105</cusip>
    <figi>BBG000KHWT55</figi>
    <value>1796135</value>
    <shrsOrPrnAmt>
      <sshPrnamt>93500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>93500</Sole>
      <Shared>93500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hsbc Holdings Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>404280406</cusip>
    <figi>BBG000C1K7N0</figi>
    <value>1732290</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21000</Sole>
      <Shared>21000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hsbc Holdings Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>404280406</cusip>
    <figi>BBG000C1K7N0</figi>
    <value>7853048</value>
    <shrsOrPrnAmt>
      <sshPrnamt>95200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>95200</Sole>
      <Shared>95200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hubbell Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>443510607</cusip>
    <figi>BBG000BLK267</figi>
    <value>1229304</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2505</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2505</Sole>
      <Shared>2505</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hubspot Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>443573100</cusip>
    <figi>BBG000N7MZ06</figi>
    <value>3733998</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15297</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15297</Sole>
      <Shared>15297</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hubspot Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>443573100</cusip>
    <figi>BBG000N7MZ06</figi>
    <value>3807960</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15600</Sole>
      <Shared>15600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hubspot Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>443573100</cusip>
    <figi>BBG000N7MZ06</figi>
    <value>10301020</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42200</Sole>
      <Shared>42200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hudbay Minerals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>443628102</cusip>
    <figi>BBG000PM99H6</figi>
    <value>208603</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9981</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9981</Sole>
      <Shared>9981</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hudbay Minerals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>443628102</cusip>
    <figi>BBG000PM99H6</figi>
    <value>390830</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18700</Sole>
      <Shared>18700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hudbay Minerals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>443628102</cusip>
    <figi>BBG000PM99H6</figi>
    <value>781660</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37400</Sole>
      <Shared>37400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hudson Pacific Properties Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>444097406</cusip>
    <figi>BBG000QC4T33</figi>
    <value>1231916</value>
    <shrsOrPrnAmt>
      <sshPrnamt>208446</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>208446</Sole>
      <Shared>208446</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hudson Pacific Properties Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>444097406</cusip>
    <figi>BBG000QC4T33</figi>
    <value>743478</value>
    <shrsOrPrnAmt>
      <sshPrnamt>125800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>125800</Sole>
      <Shared>125800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hudson Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>444144109</cusip>
    <figi>BBG000DNV5K6</figi>
    <value>86965</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14790</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14790</Sole>
      <Shared>14790</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Humacyte Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>44486Q103</cusip>
    <figi>BBG00XPPT7S7</figi>
    <value>7462</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12300</Sole>
      <Shared>12300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Humana Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>444859102</cusip>
    <figi>BBG000BLKK03</figi>
    <value>3801576</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21925</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21925</Sole>
      <Shared>21925</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Humana Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>444859102</cusip>
    <figi>BBG000BLKK03</figi>
    <value>1300425</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7500</Sole>
      <Shared>7500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Humana Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>444859102</cusip>
    <figi>BBG000BLKK03</figi>
    <value>7750533</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44700</Sole>
      <Shared>44700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Huntington Bancshares Inc/Oh - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>446150104</cusip>
    <figi>BBG000BKWSR6</figi>
    <value>8452127</value>
    <shrsOrPrnAmt>
      <sshPrnamt>540072</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>540072</Sole>
      <Shared>540072</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Huntington Bancshares Inc/Oh - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>446150104</cusip>
    <figi>BBG000BKWSR6</figi>
    <value>3644885</value>
    <shrsOrPrnAmt>
      <sshPrnamt>232900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>232900</Sole>
      <Shared>232900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Huntington Bancshares Inc/Oh - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>446150104</cusip>
    <figi>BBG000BKWSR6</figi>
    <value>618175</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39500</Sole>
      <Shared>39500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Huntington Ingalls Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>446413106</cusip>
    <figi>BBG001KJ2HM9</figi>
    <value>2604594</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6856</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6856</Sole>
      <Shared>6856</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Huntington Ingalls Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>446413106</cusip>
    <figi>BBG001KJ2HM9</figi>
    <value>1785530</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4700</Sole>
      <Shared>4700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Huntsman Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>447011107</cusip>
    <figi>BBG000NS26Q8</figi>
    <value>17393947</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1306833</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1306833</Sole>
      <Shared>1306833</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Huntsman Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>447011107</cusip>
    <figi>BBG000NS26Q8</figi>
    <value>142417</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10700</Sole>
      <Shared>10700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Huntsman Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>447011107</cusip>
    <figi>BBG000NS26Q8</figi>
    <value>162382</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12200</Sole>
      <Shared>12200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hut 8 Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>44812J104</cusip>
    <figi>BBG00K8H39V2</figi>
    <value>450336</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9600</Sole>
      <Shared>9600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hut 8 Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>44812J104</cusip>
    <figi>BBG00K8H39V2</figi>
    <value>1651232</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35200</Sole>
      <Shared>35200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hyatt Hotels Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>448579102</cusip>
    <figi>BBG000CVRFS4</figi>
    <value>1391887</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9680</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9680</Sole>
      <Shared>9680</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hycroft Mining Holding Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>44862P208</cusip>
    <figi>BBG00JSBZPQ1</figi>
    <value>1756480</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49900</Sole>
      <Shared>49900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Hyliion Holdings Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>449109107</cusip>
    <figi>BBG00N9MJTZ9</figi>
    <value>523720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>297568</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>297568</Sole>
      <Shared>297568</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Iamgold Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>450913108</cusip>
    <figi>BBG000LL9LQ5</figi>
    <value>291710</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15500</Sole>
      <Shared>15500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Iamgold Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>450913108</cusip>
    <figi>BBG000LL9LQ5</figi>
    <value>637998</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33900</Sole>
      <Shared>33900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ichor Holdings Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G4740B105</cusip>
    <figi>BBG00F9VSCH3</figi>
    <value>588451</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12625</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12625</Sole>
      <Shared>12625</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Icon Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G4705A100</cusip>
    <figi>BBG000CTSZQ6</figi>
    <value>7234397</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65375</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>65375</Sole>
      <Shared>65375</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Icon Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G4705A100</cusip>
    <figi>BBG000CTSZQ6</figi>
    <value>586498</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5300</Sole>
      <Shared>5300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Icon Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G4705A100</cusip>
    <figi>BBG000CTSZQ6</figi>
    <value>1084468</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9800</Sole>
      <Shared>9800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Idacorp Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>451107106</cusip>
    <figi>BBG000BLR3Y7</figi>
    <value>9054719</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63333</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>63333</Sole>
      <Shared>63333</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ideaya Biosciences Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45166A102</cusip>
    <figi>BBG00CTZ4D83</figi>
    <value>1422931</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42705</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42705</Sole>
      <Shared>42705</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Idex Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45167R104</cusip>
    <figi>BBG000C1HN22</figi>
    <value>1399258</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7382</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7382</Sole>
      <Shared>7382</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Idexx Laboratories Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45168D104</cusip>
    <figi>BBG000BLRT07</figi>
    <value>4687286</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8342</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8342</Sole>
      <Shared>8342</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Idexx Laboratories Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>45168D104</cusip>
    <figi>BBG000BLRT07</figi>
    <value>224756</value>
    <shrsOrPrnAmt>
      <sshPrnamt>400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>400</Sole>
      <Shared>400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ies Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>44951W106</cusip>
    <figi>BBG000PHV438</figi>
    <value>714705</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1500</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ies Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>44951W106</cusip>
    <figi>BBG000PHV438</figi>
    <value>428823</value>
    <shrsOrPrnAmt>
      <sshPrnamt>900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>900</Sole>
      <Shared>900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Iheartmedia Inc - Class A</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45174J509</cusip>
    <figi>BBG00P2FSNZ9</figi>
    <value>1112768</value>
    <shrsOrPrnAmt>
      <sshPrnamt>381085</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>381085</Sole>
      <Shared>381085</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ihs Holding Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G4701H109</cusip>
    <figi>BBG012M7S1G4</figi>
    <value>2494233</value>
    <shrsOrPrnAmt>
      <sshPrnamt>303066</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>303066</Sole>
      <Shared>303066</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ihs Holding Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G4701H109</cusip>
    <figi>BBG012M7S1G4</figi>
    <value>126742</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15400</Sole>
      <Shared>15400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Illinois Tool Works Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>452308109</cusip>
    <figi>BBG000BMBL90</figi>
    <value>1466994</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5636</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5636</Sole>
      <Shared>5636</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Illinois Tool Works Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>452308109</cusip>
    <figi>BBG000BMBL90</figi>
    <value>989102</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3800</Sole>
      <Shared>3800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Illumina Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>452327109</cusip>
    <figi>BBG000DSMS70</figi>
    <value>221868</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1800</Sole>
      <Shared>1800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Immatics Nv - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>N44445109</cusip>
    <figi>BBG00VTL2H76</figi>
    <value>659752</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67048</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>67048</Sole>
      <Shared>67048</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Immunitybio Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45256X103</cusip>
    <figi>BBG007T9DYW9</figi>
    <value>4395071</value>
    <shrsOrPrnAmt>
      <sshPrnamt>573021</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>573021</Sole>
      <Shared>573021</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Immunitybio Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>45256X103</cusip>
    <figi>BBG007T9DYW9</figi>
    <value>1349920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>176000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>176000</Sole>
      <Shared>176000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Immunocore Holdings Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>45258D105</cusip>
    <figi>BBG00YYCXFB9</figi>
    <value>663300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22000</Sole>
      <Shared>22000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Imperial Oil Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>453038408</cusip>
    <figi>BBG000C32XT3</figi>
    <value>249474</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1907</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1907</Sole>
      <Shared>1907</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Incyte Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45337C102</cusip>
    <figi>BBG000BNPSQ9</figi>
    <value>216382</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2299</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2299</Sole>
      <Shared>2299</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Incyte Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>45337C102</cusip>
    <figi>BBG000BNPSQ9</figi>
    <value>207064</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2200</Sole>
      <Shared>2200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Independent Bank Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>453836108</cusip>
    <figi>BBG000BM0597</figi>
    <value>3874819</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51520</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51520</Sole>
      <Shared>51520</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Independent Bank Corp/Mi - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>453838609</cusip>
    <figi>BBG000BLN9N0</figi>
    <value>4733961</value>
    <shrsOrPrnAmt>
      <sshPrnamt>142161</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>142161</Sole>
      <Shared>142161</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Indie Semiconductor Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>45569U101</cusip>
    <figi>BBG00Z3XTNX8</figi>
    <value>322000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100000</Sole>
      <Shared>100000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Industrial Logistics Properties Trust - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>456237106</cusip>
    <figi>BBG00JBBPRZ6</figi>
    <value>1214662</value>
    <shrsOrPrnAmt>
      <sshPrnamt>213849</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>213849</Sole>
      <Shared>213849</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ing Groep Nv - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>456837103</cusip>
    <figi>BBG000BM0LB9</figi>
    <value>673966</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25872</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25872</Sole>
      <Shared>25872</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ingersoll Rand Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45687V106</cusip>
    <figi>BBG002R1CW27</figi>
    <value>1001500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12500</Sole>
      <Shared>12500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ingersoll Rand Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>45687V106</cusip>
    <figi>BBG002R1CW27</figi>
    <value>312468</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3900</Sole>
      <Shared>3900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ingevity Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45688C107</cusip>
    <figi>BBG009LM28K6</figi>
    <value>2370748</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33283</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33283</Sole>
      <Shared>33283</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ingram Micro Holding Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>457152106</cusip>
    <figi>BBG01Q381K59</figi>
    <value>1413215</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60627</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60627</Sole>
      <Shared>60627</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Inhibrx Biosciences Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45720N103</cusip>
    <figi>BBG01MS5Q9G3</figi>
    <value>495687</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7373</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7373</Sole>
      <Shared>7373</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Innodata Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>457642205</cusip>
    <figi>BBG000BHZYZ8</figi>
    <value>2032339</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52624</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52624</Sole>
      <Shared>52624</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Innodata Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>457642205</cusip>
    <figi>BBG000BHZYZ8</figi>
    <value>459578</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11900</Sole>
      <Shared>11900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Innospec Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45768S105</cusip>
    <figi>BBG000BMFNP4</figi>
    <value>276308</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3784</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3784</Sole>
      <Shared>3784</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Innovate Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45784J303</cusip>
    <figi>BBG000BDCQS7</figi>
    <value>186230</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32787</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32787</Sole>
      <Shared>32787</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Innovative Industrial Properties Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>45781V101</cusip>
    <figi>BBG00F0SW7N8</figi>
    <value>205656</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4100</Sole>
      <Shared>4100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Innovative Industrial Properties Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>45781V101</cusip>
    <figi>BBG00F0SW7N8</figi>
    <value>240768</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4800</Sole>
      <Shared>4800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Inogen Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45780L104</cusip>
    <figi>BBG0021PH456</figi>
    <value>1221965</value>
    <shrsOrPrnAmt>
      <sshPrnamt>197729</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>197729</Sole>
      <Shared>197729</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Insmed Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>457669307</cusip>
    <figi>BBG000BWM5P3</figi>
    <value>4022592</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24600</Sole>
      <Shared>24600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Insmed Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>457669307</cusip>
    <figi>BBG000BWM5P3</figi>
    <value>1193696</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7300</Sole>
      <Shared>7300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Inspire Medical Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>457730109</cusip>
    <figi>BBG00209SZJ7</figi>
    <value>8625104</value>
    <shrsOrPrnAmt>
      <sshPrnamt>167218</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>167218</Sole>
      <Shared>167218</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Inspire Medical Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>457730109</cusip>
    <figi>BBG00209SZJ7</figi>
    <value>288848</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5600</Sole>
      <Shared>5600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Installed Building Products Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45780R101</cusip>
    <figi>BBG005TJKDZ6</figi>
    <value>8450331</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31870</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31870</Sole>
      <Shared>31870</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intapp Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45827U109</cusip>
    <figi>BBG002ZHMJ49</figi>
    <value>5265885</value>
    <shrsOrPrnAmt>
      <sshPrnamt>204978</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>204978</Sole>
      <Shared>204978</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Integer Holdings Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>45826H109</cusip>
    <figi>BBG000BW6JV4</figi>
    <value>440000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5000</Sole>
      <Shared>5000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Integer Holdings Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>45826H109</cusip>
    <figi>BBG000BW6JV4</figi>
    <value>695200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7900</Sole>
      <Shared>7900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Integer Holdings Corp - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>45826HAD1</cusip>
    <figi>BBG01SVXNLF2</figi>
    <value>48416875</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50500000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50500000</Sole>
      <Shared>50500000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intel Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>458140100</cusip>
    <figi>BBG000C0G1D1</figi>
    <value>29686516</value>
    <shrsOrPrnAmt>
      <sshPrnamt>672706</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>672706</Sole>
      <Shared>672706</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intel Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>458140100</cusip>
    <figi>BBG000C0G1D1</figi>
    <value>37179525</value>
    <shrsOrPrnAmt>
      <sshPrnamt>842500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>842500</Sole>
      <Shared>842500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intel Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>458140100</cusip>
    <figi>BBG000C0G1D1</figi>
    <value>60299232</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1366400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1366400</Sole>
      <Shared>1366400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intellia Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45826J105</cusip>
    <figi>BBG007KC7PB0</figi>
    <value>1143839</value>
    <shrsOrPrnAmt>
      <sshPrnamt>89223</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>89223</Sole>
      <Shared>89223</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Interactive Brokers Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45841N107</cusip>
    <figi>BBG000LV0836</figi>
    <value>22582737</value>
    <shrsOrPrnAmt>
      <sshPrnamt>336704</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>336704</Sole>
      <Shared>336704</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Interactive Brokers Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>45841N107</cusip>
    <figi>BBG000LV0836</figi>
    <value>9228832</value>
    <shrsOrPrnAmt>
      <sshPrnamt>137600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>137600</Sole>
      <Shared>137600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Interactive Brokers Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>45841N107</cusip>
    <figi>BBG000LV0836</figi>
    <value>2112705</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31500</Sole>
      <Shared>31500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intercontinental Exchange Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45866F104</cusip>
    <figi>BBG000C1FB75</figi>
    <value>32113116</value>
    <shrsOrPrnAmt>
      <sshPrnamt>204178</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>204178</Sole>
      <Shared>204178</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intercontinental Exchange Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>45866F104</cusip>
    <figi>BBG000C1FB75</figi>
    <value>1635712</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10400</Sole>
      <Shared>10400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Interdigital Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45867G101</cusip>
    <figi>BBG000HLJ7M4</figi>
    <value>8599450</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28475</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28475</Sole>
      <Shared>28475</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Interface Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>458665304</cusip>
    <figi>BBG000BLTV73</figi>
    <value>1539209</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61766</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>61766</Sole>
      <Shared>61766</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>International Bancshares Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>459044103</cusip>
    <figi>BBG000BS0N59</figi>
    <value>1767843</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26272</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26272</Sole>
      <Shared>26272</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>International Business Machines Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>459200101</cusip>
    <figi>BBG000BLNNH6</figi>
    <value>6835398</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28200</Sole>
      <Shared>28200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>International Business Machines Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>459200101</cusip>
    <figi>BBG000BLNNH6</figi>
    <value>21499993</value>
    <shrsOrPrnAmt>
      <sshPrnamt>88700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>88700</Sole>
      <Shared>88700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>International Flavors &amp; Fragrances Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>459506101</cusip>
    <figi>BBG000BLSL58</figi>
    <value>232160</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3200</Sole>
      <Shared>3200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>International Money Express Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46005L101</cusip>
    <figi>BBG00G6D5MS5</figi>
    <value>3465951</value>
    <shrsOrPrnAmt>
      <sshPrnamt>219364</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>219364</Sole>
      <Shared>219364</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>International Paper Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>460146103</cusip>
    <figi>BBG000BM5SR2</figi>
    <value>19428654</value>
    <shrsOrPrnAmt>
      <sshPrnamt>544220</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>544220</Sole>
      <Shared>544220</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>International Paper Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>460146103</cusip>
    <figi>BBG000BM5SR2</figi>
    <value>246330</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6900</Sole>
      <Shared>6900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>International Paper Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>460146103</cusip>
    <figi>BBG000BM5SR2</figi>
    <value>1342320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37600</Sole>
      <Shared>37600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>International Seaways Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>Y41053102</cusip>
    <figi>BBG003MN93C9</figi>
    <value>12378231</value>
    <shrsOrPrnAmt>
      <sshPrnamt>169844</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>169844</Sole>
      <Shared>169844</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intrepid Potash Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46121Y201</cusip>
    <figi>BBG000V1Y6Q3</figi>
    <value>2512010</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58733</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58733</Sole>
      <Shared>58733</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intuit Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>461202103</cusip>
    <figi>BBG000BH5DV1</figi>
    <value>15435966</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35700</Sole>
      <Shared>35700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intuit Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>461202103</cusip>
    <figi>BBG000BH5DV1</figi>
    <value>43151524</value>
    <shrsOrPrnAmt>
      <sshPrnamt>99800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>99800</Sole>
      <Shared>99800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intuitive Machines Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46125A100</cusip>
    <figi>BBG00ZMYYP00</figi>
    <value>12536278</value>
    <shrsOrPrnAmt>
      <sshPrnamt>675446</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>675446</Sole>
      <Shared>675446</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intuitive Machines Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46125A100</cusip>
    <figi>BBG00ZMYYP00</figi>
    <value>428736</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23100</Sole>
      <Shared>23100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intuitive Surgical Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46120E602</cusip>
    <figi>BBG000BJPDZ1</figi>
    <value>17405138</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37756</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37756</Sole>
      <Shared>37756</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intuitive Surgical Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46120E602</cusip>
    <figi>BBG000BJPDZ1</figi>
    <value>1475168</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3200</Sole>
      <Shared>3200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Intuitive Surgical Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46120E602</cusip>
    <figi>BBG000BJPDZ1</figi>
    <value>22865104</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49600</Sole>
      <Shared>49600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G491BT108</cusip>
    <figi>BBG000BY2Y78</figi>
    <value>1962632</value>
    <shrsOrPrnAmt>
      <sshPrnamt>80800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>80800</Sole>
      <Shared>80800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G491BT108</cusip>
    <figi>BBG000BY2Y78</figi>
    <value>568386</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23400</Sole>
      <Shared>23400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco Mortgage Capital Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46131B704</cusip>
    <figi>BBG000GGLZZ7</figi>
    <value>1725565</value>
    <shrsOrPrnAmt>
      <sshPrnamt>213560</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>213560</Sole>
      <Shared>213560</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco Qqq Trust Series 1 - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>46090E103</cusip>
    <figi>BBG000BSWKH7</figi>
    <value>1319260326</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2285700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2285700</Sole>
      <Shared>2285700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco Qqq Trust Series 1 - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>46090E103</cusip>
    <figi>BBG000BSWKH7</figi>
    <value>2112305646</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3659700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3659700</Sole>
      <Shared>3659700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco Qqq Trust Series 1 - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46090E103</cusip>
    <figi>BBG000BSWKH7</figi>
    <value>139814929</value>
    <shrsOrPrnAmt>
      <sshPrnamt>242238</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>242238</Sole>
      <Shared>242238</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco S&amp;P 500 Equal Weight Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46137V357</cusip>
    <figi>BBG00KJR2MY7</figi>
    <value>3801359</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19807</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19807</Sole>
      <Shared>19807</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco S&amp;P 500 High Dividend Low Volatility ETF -</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46138E362</cusip>
    <figi>BBG003H4R9V3</figi>
    <value>647113</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13044</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13044</Sole>
      <Shared>13044</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco S&amp;P 500 Low Volatility Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46138E354</cusip>
    <figi>BBG001P2KBP1</figi>
    <value>963839</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13178</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13178</Sole>
      <Shared>13178</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco S&amp;P 500 Momentum ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46138E339</cusip>
    <figi>BBG00B59HSH2</figi>
    <value>3380341</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30152</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30152</Sole>
      <Shared>30152</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco Solar Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>46138G706</cusip>
    <figi>BBG00KXH5WT4</figi>
    <value>2785500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50000</Sole>
      <Shared>50000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invesco Solar Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46138G706</cusip>
    <figi>BBG00KXH5WT4</figi>
    <value>321837</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5777</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5777</Sole>
      <Shared>5777</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Invitation Homes Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46187W107</cusip>
    <figi>BBG00FQH6BS9</figi>
    <value>6825550</value>
    <shrsOrPrnAmt>
      <sshPrnamt>274670</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>274670</Sole>
      <Shared>274670</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ionis Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>462222100</cusip>
    <figi>BBG000JH6683</figi>
    <value>3622642</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48244</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>48244</Sole>
      <Shared>48244</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ionis Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>462222100</cusip>
    <figi>BBG000JH6683</figi>
    <value>1561872</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20800</Sole>
      <Shared>20800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ionq Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46222L108</cusip>
    <figi>BBG00XZP0LB4</figi>
    <value>3922177</value>
    <shrsOrPrnAmt>
      <sshPrnamt>136045</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>136045</Sole>
      <Shared>136045</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ionq Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46222L108</cusip>
    <figi>BBG00XZP0LB4</figi>
    <value>867783</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30100</Sole>
      <Shared>30100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ionq Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46222L108</cusip>
    <figi>BBG00XZP0LB4</figi>
    <value>1677906</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58200</Sole>
      <Shared>58200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Iovance Biotherapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>462260100</cusip>
    <figi>BBG000FTLBV7</figi>
    <value>758174</value>
    <shrsOrPrnAmt>
      <sshPrnamt>216004</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>216004</Sole>
      <Shared>216004</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Iqiyi Inc - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>46267X108</cusip>
    <figi>BBG00K6DZBD3</figi>
    <value>144450</value>
    <shrsOrPrnAmt>
      <sshPrnamt>107000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>107000</Sole>
      <Shared>107000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Iqiyi Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46267X108</cusip>
    <figi>BBG00K6DZBD3</figi>
    <value>270000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>200000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>200000</Sole>
      <Shared>200000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Iqvia Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46266C105</cusip>
    <figi>BBG00333FYS2</figi>
    <value>750376</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4400</Sole>
      <Shared>4400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Iqvia Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46266C105</cusip>
    <figi>BBG00333FYS2</figi>
    <value>1568968</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9200</Sole>
      <Shared>9200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Iradimed Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46266A109</cusip>
    <figi>BBG006NM92X2</figi>
    <value>6914933</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71836</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>71836</Sole>
      <Shared>71836</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IREN Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>Q4982L109</cusip>
    <figi>BBG010J28KQ2</figi>
    <value>10503392</value>
    <shrsOrPrnAmt>
      <sshPrnamt>306400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>306400</Sole>
      <Shared>306400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IREN Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>Q4982L109</cusip>
    <figi>BBG010J28KQ2</figi>
    <value>12597900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>367500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>367500</Sole>
      <Shared>367500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IREN Ltd - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>46270CAB5</cusip>
    <figi>BBG01R3YBC20</figi>
    <value>72921099</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31803000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31803000</Sole>
      <Shared>31803000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IRhythm Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>450056AB2</cusip>
    <figi>BBG01LTX2KF5</figi>
    <value>21974000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20000000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20000000</Sole>
      <Shared>20000000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Iridium Communications Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46269C102</cusip>
    <figi>BBG000VC0FC1</figi>
    <value>663180</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23907</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23907</Sole>
      <Shared>23907</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Iridium Communications Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46269C102</cusip>
    <figi>BBG000VC0FC1</figi>
    <value>221920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8000</Sole>
      <Shared>8000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Iron Mountain Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46284V101</cusip>
    <figi>BBG000KCZPC3</figi>
    <value>3800425</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37208</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37208</Sole>
      <Shared>37208</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Iron Mountain Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46284V101</cusip>
    <figi>BBG000KCZPC3</figi>
    <value>490272</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4800</Sole>
      <Shared>4800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Iron Mountain Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46284V101</cusip>
    <figi>BBG000KCZPC3</figi>
    <value>2349220</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23000</Sole>
      <Shared>23000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iShares 0-3 Month Treasury Bond ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46436E718</cusip>
    <figi>BBG00TZR7XN3</figi>
    <value>1114105</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11068</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11068</Sole>
      <Shared>11068</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares 10-20 Year Treasury Bond Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464288653</cusip>
    <figi>BBG000QN16D1</figi>
    <value>1945508</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19316</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19316</Sole>
      <Shared>19316</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>20 YR TR BD ETF</titleOfClass>
    <cusip>464287432</cusip>
    <figi>BBG000BJKYW3</figi>
    <value>64688078</value>
    <shrsOrPrnAmt>
      <sshPrnamt>746200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>746200</Sole>
      <Shared>746200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>20 YR TR BD ETF</titleOfClass>
    <cusip>464287432</cusip>
    <figi>BBG000BJKYW3</figi>
    <value>139458203</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1608700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1608700</Sole>
      <Shared>1608700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>20 YR TR BD ETF</titleOfClass>
    <cusip>464287432</cusip>
    <figi>BBG000BJKYW3</figi>
    <value>25612474</value>
    <shrsOrPrnAmt>
      <sshPrnamt>295449</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>295449</Sole>
      <Shared>295449</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares 7-10 Year Treasury Bond Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287440</cusip>
    <figi>BBG000BHR296</figi>
    <value>23355886</value>
    <shrsOrPrnAmt>
      <sshPrnamt>244718</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>244718</Sole>
      <Shared>244718</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iShares AI Innovation and Tech Active ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>09290C780</cusip>
    <figi>BBG01Q9L3CL2</figi>
    <value>316023</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9591</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9591</Sole>
      <Shared>9591</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iShares Bitcoin Trust ETF - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>46438F101</cusip>
    <figi>BBG01KYQ6PV3</figi>
    <value>38343160</value>
    <shrsOrPrnAmt>
      <sshPrnamt>998000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>998000</Sole>
      <Shared>998000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iShares Bitcoin Trust ETF - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>46438F101</cusip>
    <figi>BBG01KYQ6PV3</figi>
    <value>27854500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>725000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>725000</Sole>
      <Shared>725000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iShares Bitcoin Trust ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46438F101</cusip>
    <figi>BBG01KYQ6PV3</figi>
    <value>22248369</value>
    <shrsOrPrnAmt>
      <sshPrnamt>579083</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>579083</Sole>
      <Shared>579083</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares China Large-Cap Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464287184</cusip>
    <figi>BBG000Q8RVM1</figi>
    <value>366366680</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10205200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10205200</Sole>
      <Shared>10205200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares China Large-Cap Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464287184</cusip>
    <figi>BBG000Q8RVM1</figi>
    <value>239122720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6660800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6660800</Sole>
      <Shared>6660800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares China Large-Cap Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287184</cusip>
    <figi>BBG000Q8RVM1</figi>
    <value>8843714</value>
    <shrsOrPrnAmt>
      <sshPrnamt>246343</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>246343</Sole>
      <Shared>246343</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iShares Core Dividend Growth ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46434V621</cusip>
    <figi>BBG006MJFZJ6</figi>
    <value>4556577</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64927</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>64927</Sole>
      <Shared>64927</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Core High Dividend Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46429B663</cusip>
    <figi>BBG001LRJC70</figi>
    <value>4956766</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36522</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36522</Sole>
      <Shared>36522</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Core Msci Emerging Markets Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46434G103</cusip>
    <figi>BBG003HC3CQ0</figi>
    <value>2756869</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39525</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39525</Sole>
      <Shared>39525</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Core S&amp;P 500 Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287200</cusip>
    <figi>BBG000BVZ4F5</figi>
    <value>127087884</value>
    <shrsOrPrnAmt>
      <sshPrnamt>194559</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>194559</Sole>
      <Shared>194559</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Core S&amp;P Total Us Stock Market Etf - US ET</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287150</cusip>
    <figi>BBG000HSHTP0</figi>
    <value>14611751</value>
    <shrsOrPrnAmt>
      <sshPrnamt>102589</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>102589</Sole>
      <Shared>102589</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Core S&amp;P U.S. Growth Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287671</cusip>
    <figi>BBG000C18HW2</figi>
    <value>6924421</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44642</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44642</Sole>
      <Shared>44642</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Core S&amp;P U.S. Value Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287663</cusip>
    <figi>BBG000C183Y1</figi>
    <value>226995</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2220</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2220</Sole>
      <Shared>2220</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Core U.S. Aggregate Bond Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287226</cusip>
    <figi>BBG000Q123R0</figi>
    <value>1331111</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13409</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13409</Sole>
      <Shared>13409</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Expanded Tech Sector Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287549</cusip>
    <figi>BBG000H13601</figi>
    <value>734406</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6197</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6197</Sole>
      <Shared>6197</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Expanded Tech-Software Sector Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464287515</cusip>
    <figi>BBG000BGQ921</figi>
    <value>107451115</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1342300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1342300</Sole>
      <Shared>1342300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Expanded Tech-Software Sector Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464287515</cusip>
    <figi>BBG000BGQ921</figi>
    <value>14104810</value>
    <shrsOrPrnAmt>
      <sshPrnamt>176200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>176200</Sole>
      <Shared>176200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Global Energy Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287341</cusip>
    <figi>BBG000L74NQ7</figi>
    <value>324863</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5639</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5639</Sole>
      <Shared>5639</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Gold Trust - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464285204</cusip>
    <figi>BBG000QLKDR4</figi>
    <value>11722547</value>
    <shrsOrPrnAmt>
      <sshPrnamt>132969</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>132969</Sole>
      <Shared>132969</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iShares Gold Trust Micro - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46436F103</cusip>
    <figi>BBG011K3SN42</figi>
    <value>1458581</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31233</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31233</Sole>
      <Shared>31233</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Iboxx  Investment Grade Corporate Bond Etf</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464287242</cusip>
    <figi>BBG000BBV9N3</figi>
    <value>8174250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>75000</Sole>
      <Shared>75000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Iboxx  Investment Grade Corporate Bond Etf</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287242</cusip>
    <figi>BBG000BBV9N3</figi>
    <value>23051385</value>
    <shrsOrPrnAmt>
      <sshPrnamt>211500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>211500</Sole>
      <Shared>211500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Iboxx High Yield Corporate Bond Etf - US E</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464288513</cusip>
    <figi>BBG000R2T3H9</figi>
    <value>59670000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>750000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>750000</Sole>
      <Shared>750000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Iboxx High Yield Corporate Bond Etf - US E</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464288513</cusip>
    <figi>BBG000R2T3H9</figi>
    <value>19540732</value>
    <shrsOrPrnAmt>
      <sshPrnamt>245610</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>245610</Sole>
      <Shared>245610</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iShares Inc iShares ESG Aware MSCI EM ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46434G863</cusip>
    <figi>BBG00D7BDH61</figi>
    <value>271092</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5962</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5962</Sole>
      <Shared>5962</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Jp Morgan Usd Emerging Markets Bond Etf -</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464288281</cusip>
    <figi>BBG000NXKWH0</figi>
    <value>4228071</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45013</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45013</Sole>
      <Shared>45013</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci Acwi Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464288257</cusip>
    <figi>BBG000TH6VB3</figi>
    <value>1489691</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10766</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10766</Sole>
      <Shared>10766</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci Australia Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464286103</cusip>
    <figi>BBG000BDNJ29</figi>
    <value>3148151</value>
    <shrsOrPrnAmt>
      <sshPrnamt>113406</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>113406</Sole>
      <Shared>113406</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci Brazil Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464286400</cusip>
    <figi>BBG000CPLR52</figi>
    <value>2073060</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>54000</Sole>
      <Shared>54000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci Brazil Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464286400</cusip>
    <figi>BBG000CPLR52</figi>
    <value>2476155</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>64500</Sole>
      <Shared>64500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci Canada Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464286509</cusip>
    <figi>BBG000BJSXB0</figi>
    <value>6501875</value>
    <shrsOrPrnAmt>
      <sshPrnamt>118669</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>118669</Sole>
      <Shared>118669</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci Chile Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464286640</cusip>
    <figi>BBG000TVZM75</figi>
    <value>3908408</value>
    <shrsOrPrnAmt>
      <sshPrnamt>98300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>98300</Sole>
      <Shared>98300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci China Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46429B671</cusip>
    <figi>BBG001LRJJH4</figi>
    <value>1365286</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24302</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24302</Sole>
      <Shared>24302</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci Eafe Small-Cap Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464288273</cusip>
    <figi>BBG000T1G7X6</figi>
    <value>256401</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3270</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3270</Sole>
      <Shared>3270</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci Emerging Markets Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464287234</cusip>
    <figi>BBG000M0P5L2</figi>
    <value>367789077</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6476300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6476300</Sole>
      <Shared>6476300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci Emerging Markets Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464287234</cusip>
    <figi>BBG000M0P5L2</figi>
    <value>385456446</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6787400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6787400</Sole>
      <Shared>6787400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci Emerging Markets Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287234</cusip>
    <figi>BBG000M0P5L2</figi>
    <value>42705001</value>
    <shrsOrPrnAmt>
      <sshPrnamt>751981</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>751981</Sole>
      <Shared>751981</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci Emerging Markets Min Vol Factor Etf -</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464286533</cusip>
    <figi>BBG0025X3F19</figi>
    <value>2048057</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31640</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31640</Sole>
      <Shared>31640</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci Europe Financials Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464289180</cusip>
    <figi>BBG000Q6VJG4</figi>
    <value>219555</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6300</Sole>
      <Shared>6300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci Germany Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464286806</cusip>
    <figi>BBG000BJZKN7</figi>
    <value>297525</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7500</Sole>
      <Shared>7500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci India Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>46429B598</cusip>
    <figi>BBG002DMN3L7</figi>
    <value>28104000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>600000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>600000</Sole>
      <Shared>600000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci Japan Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>46434G822</cusip>
    <figi>BBG000BK38F5</figi>
    <value>2111000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25000</Sole>
      <Shared>25000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci Japan Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46434G822</cusip>
    <figi>BBG000BK38F5</figi>
    <value>1992700</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23599</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23599</Sole>
      <Shared>23599</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci Mexico Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464286822</cusip>
    <figi>BBG000BK42M9</figi>
    <value>6751817</value>
    <shrsOrPrnAmt>
      <sshPrnamt>89749</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>89749</Sole>
      <Shared>89749</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci South Korea Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464286772</cusip>
    <figi>BBG000CDKWX8</figi>
    <value>19201861</value>
    <shrsOrPrnAmt>
      <sshPrnamt>156100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>156100</Sole>
      <Shared>156100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci South Korea Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464286772</cusip>
    <figi>BBG000CDKWX8</figi>
    <value>52857397</value>
    <shrsOrPrnAmt>
      <sshPrnamt>429700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>429700</Sole>
      <Shared>429700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci South Korea Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464286772</cusip>
    <figi>BBG000CDKWX8</figi>
    <value>40241245</value>
    <shrsOrPrnAmt>
      <sshPrnamt>327138</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>327138</Sole>
      <Shared>327138</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci Taiwan Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>46434G772</cusip>
    <figi>BBG000CJLQ12</figi>
    <value>2347452</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33100</Sole>
      <Shared>33100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci United Kingdom Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46435G334</cusip>
    <figi>BBG000BK6997</figi>
    <value>2200229</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48293</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>48293</Sole>
      <Shared>48293</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Msci Usa Min Vol Factor Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46429B697</cusip>
    <figi>BBG0025X2FJ1</figi>
    <value>232406</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2506</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2506</Sole>
      <Shared>2506</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iShares MSCI USA Momentum Factor ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46432F396</cusip>
    <figi>BBG004FPTZB8</figi>
    <value>12397403</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51658</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51658</Sole>
      <Shared>51658</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iShares MSCI USA Quality Factor ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46432F339</cusip>
    <figi>BBG004TRTWV4</figi>
    <value>10534397</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54921</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>54921</Sole>
      <Shared>54921</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iShares MSCI USA Value Factor ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46432F388</cusip>
    <figi>BBG004FPWG26</figi>
    <value>21780095</value>
    <shrsOrPrnAmt>
      <sshPrnamt>153176</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>153176</Sole>
      <Shared>153176</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares National Muni Bond Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464288414</cusip>
    <figi>BBG000TC0WT9</figi>
    <value>1126676</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10614</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10614</Sole>
      <Shared>10614</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Russell 1000 Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287622</cusip>
    <figi>BBG000CF7ZN2</figi>
    <value>2761201</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7744</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7744</Sole>
      <Shared>7744</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Russell 1000 Growth Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464287614</cusip>
    <figi>BBG000BTR7Z0</figi>
    <value>2856880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6700</Sole>
      <Shared>6700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Russell 1000 Value Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287598</cusip>
    <figi>BBG000CG9VP5</figi>
    <value>603404</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2824</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2824</Sole>
      <Shared>2824</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Russell 2000 Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464287655</cusip>
    <figi>BBG000CGC9C4</figi>
    <value>2975504000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11998000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11998000</Sole>
      <Shared>11998000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Russell 2000 Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464287655</cusip>
    <figi>BBG000CGC9C4</figi>
    <value>5103269600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20577700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20577700</Sole>
      <Shared>20577700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Russell 2000 Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287655</cusip>
    <figi>BBG000CGC9C4</figi>
    <value>2370632</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9559</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9559</Sole>
      <Shared>9559</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Russell 3000 Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287689</cusip>
    <figi>BBG000BWDVW8</figi>
    <value>513021</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1384</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1384</Sole>
      <Shared>1384</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Russell Mid-Cap Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287499</cusip>
    <figi>BBG000JWXHK2</figi>
    <value>1072933</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11035</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11035</Sole>
      <Shared>11035</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Russell Mid-Cap Value Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287473</cusip>
    <figi>BBG000JWZ6F0</figi>
    <value>267141</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1833</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1833</Sole>
      <Shared>1833</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares S&amp;P 100 Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287101</cusip>
    <figi>BBG000DDXQR3</figi>
    <value>1038817</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3266</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3266</Sole>
      <Shared>3266</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares S&amp;P 500 Growth Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287309</cusip>
    <figi>BBG000BWDHF8</figi>
    <value>3272838</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28935</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28935</Sole>
      <Shared>28935</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Semiconductor Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464287523</cusip>
    <figi>BBG000JP3063</figi>
    <value>2070558</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6300</Sole>
      <Shared>6300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Semiconductor Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287523</cusip>
    <figi>BBG000JP3063</figi>
    <value>3581079</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10896</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10896</Sole>
      <Shared>10896</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Silver Trust - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>46428Q109</cusip>
    <figi>BBG000NDCRW7</figi>
    <value>133963240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1966000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1966000</Sole>
      <Shared>1966000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Silver Trust - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>46428Q109</cusip>
    <figi>BBG000NDCRW7</figi>
    <value>104295084</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1530600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1530600</Sole>
      <Shared>1530600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Silver Trust - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>46428Q109</cusip>
    <figi>BBG000NDCRW7</figi>
    <value>47877208</value>
    <shrsOrPrnAmt>
      <sshPrnamt>702630</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>702630</Sole>
      <Shared>702630</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares U.S. Energy Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464287796</cusip>
    <figi>BBG000BXXRG1</figi>
    <value>11190054</value>
    <shrsOrPrnAmt>
      <sshPrnamt>172766</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>172766</Sole>
      <Shared>172766</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>iShares U.S. Equity Factor Rotation Active ETF - U</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>09290C103</cusip>
    <figi>BBG00NNWBVZ4</figi>
    <value>23344783</value>
    <shrsOrPrnAmt>
      <sshPrnamt>401251</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>401251</Sole>
      <Shared>401251</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares U.S. Home Construction Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>464288752</cusip>
    <figi>BBG000PB3SM8</figi>
    <value>3181384</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35134</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35134</Sole>
      <Shared>35134</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares U.S. Real Estate Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464287739</cusip>
    <figi>BBG000BXW687</figi>
    <value>24292464</value>
    <shrsOrPrnAmt>
      <sshPrnamt>256900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>256900</Sole>
      <Shared>256900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ishares Us Technology Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>464287721</cusip>
    <figi>BBG000CF9GL4</figi>
    <value>3755394</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20700</Sole>
      <Shared>20700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Itron Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>465741106</cusip>
    <figi>BBG000BD2167</figi>
    <value>7914239</value>
    <shrsOrPrnAmt>
      <sshPrnamt>88299</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>88299</Sole>
      <Shared>88299</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Itron Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>465741106</cusip>
    <figi>BBG000BD2167</figi>
    <value>914226</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10200</Sole>
      <Shared>10200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Itt Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>45073V108</cusip>
    <figi>BBG00CVQZQ96</figi>
    <value>2589874</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13593</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13593</Sole>
      <Shared>13593</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ivanhoe Electric Inc / US - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46578C108</cusip>
    <figi>BBG012WFRMG0</figi>
    <value>3664649</value>
    <shrsOrPrnAmt>
      <sshPrnamt>310038</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>310038</Sole>
      <Shared>310038</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ivanhoe Electric Inc / US - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46578C108</cusip>
    <figi>BBG012WFRMG0</figi>
    <value>559086</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>47300</Sole>
      <Shared>47300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ivanhoe Electric Inc / US - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46578C108</cusip>
    <figi>BBG012WFRMG0</figi>
    <value>192666</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16300</Sole>
      <Shared>16300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>J M Smucker Co/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>832696405</cusip>
    <figi>BBG000BT1715</figi>
    <value>580858</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6023</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6023</Sole>
      <Shared>6023</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>J M Smucker Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>832696405</cusip>
    <figi>BBG000BT1715</figi>
    <value>2131324</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22100</Sole>
      <Shared>22100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>J M Smucker Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>832696405</cusip>
    <figi>BBG000BT1715</figi>
    <value>1803428</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18700</Sole>
      <Shared>18700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jabil Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>466313103</cusip>
    <figi>BBG000BJNGN9</figi>
    <value>425008</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1600</Sole>
      <Shared>1600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jack Henry &amp; Associates Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>426281101</cusip>
    <figi>BBG000BMH2Q7</figi>
    <value>10017207</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63384</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>63384</Sole>
      <Shared>63384</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jackson Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46817M107</cusip>
    <figi>BBG00922Y5Z6</figi>
    <value>21948635</value>
    <shrsOrPrnAmt>
      <sshPrnamt>207611</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>207611</Sole>
      <Shared>207611</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>James Hardie Industries Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G4253H101</cusip>
    <figi>BBG000C1HL99</figi>
    <value>6947173</value>
    <shrsOrPrnAmt>
      <sshPrnamt>366799</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>366799</Sole>
      <Shared>366799</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Janus Henderson Group Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G4474Y214</cusip>
    <figi>BBG00GSNPM07</figi>
    <value>18389176</value>
    <shrsOrPrnAmt>
      <sshPrnamt>357975</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>357975</Sole>
      <Shared>357975</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Janux Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>47103J105</cusip>
    <figi>BBG00ZHSKH11</figi>
    <value>412677</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29689</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29689</Sole>
      <Shared>29689</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jb Hunt Transport Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>445658107</cusip>
    <figi>BBG000BMDBZ1</figi>
    <value>317850</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1500</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jb Hunt Transport Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>445658107</cusip>
    <figi>BBG000BMDBZ1</figi>
    <value>1334970</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6300</Sole>
      <Shared>6300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jbg Smith Properties - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46590V100</cusip>
    <figi>BBG00F5FNKJ7</figi>
    <value>485929</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33260</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33260</Sole>
      <Shared>33260</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jbs NV-A - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N4732M103</cusip>
    <figi>BBG01V30BCK5</figi>
    <value>2325820</value>
    <shrsOrPrnAmt>
      <sshPrnamt>129500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>129500</Sole>
      <Shared>129500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jd.Com Inc - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>47215P106</cusip>
    <figi>BBG005YHY0Q7</figi>
    <value>8008502</value>
    <shrsOrPrnAmt>
      <sshPrnamt>270832</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>270832</Sole>
      <Shared>270832</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jd.Com Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>47215P106</cusip>
    <figi>BBG005YHY0Q7</figi>
    <value>12871821</value>
    <shrsOrPrnAmt>
      <sshPrnamt>435300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>435300</Sole>
      <Shared>435300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jd.Com Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>47215P106</cusip>
    <figi>BBG005YHY0Q7</figi>
    <value>24525358</value>
    <shrsOrPrnAmt>
      <sshPrnamt>829400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>829400</Sole>
      <Shared>829400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jefferies Financial Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>47233W109</cusip>
    <figi>BBG000BNHSP9</figi>
    <value>13012307</value>
    <shrsOrPrnAmt>
      <sshPrnamt>315297</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>315297</Sole>
      <Shared>315297</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jefferies Financial Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>47233W109</cusip>
    <figi>BBG000BNHSP9</figi>
    <value>458097</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11100</Sole>
      <Shared>11100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jefferies Financial Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>47233W109</cusip>
    <figi>BBG000BNHSP9</figi>
    <value>1518736</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36800</Sole>
      <Shared>36800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jeld-Wen Holding Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>47580P103</cusip>
    <figi>BBG0019GM953</figi>
    <value>668096</value>
    <shrsOrPrnAmt>
      <sshPrnamt>538787</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>538787</Sole>
      <Shared>538787</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jetblue Airways Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>477143101</cusip>
    <figi>BBG000BRQ6L2</figi>
    <value>12114305</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2740793</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2740793</Sole>
      <Shared>2740793</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jetblue Airways Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>477143101</cusip>
    <figi>BBG000BRQ6L2</figi>
    <value>1005992</value>
    <shrsOrPrnAmt>
      <sshPrnamt>227600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>227600</Sole>
      <Shared>227600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jfrog Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>M6191J100</cusip>
    <figi>BBG006PWZX16</figi>
    <value>266281</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5674</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5674</Sole>
      <Shared>5674</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jfrog Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M6191J100</cusip>
    <figi>BBG006PWZX16</figi>
    <value>999609</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21300</Sole>
      <Shared>21300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jfrog Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M6191J100</cusip>
    <figi>BBG006PWZX16</figi>
    <value>1576848</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33600</Sole>
      <Shared>33600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Joby Aviation Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G65163100</cusip>
    <figi>BBG00X2MYTC2</figi>
    <value>8661006</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1048548</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1048548</Sole>
      <Shared>1048548</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Joby Aviation Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G65163100</cusip>
    <figi>BBG00X2MYTC2</figi>
    <value>3020682</value>
    <shrsOrPrnAmt>
      <sshPrnamt>365700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>365700</Sole>
      <Shared>365700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Joby Aviation Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G65163100</cusip>
    <figi>BBG00X2MYTC2</figi>
    <value>113162</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13700</Sole>
      <Shared>13700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Joby Aviation Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>47775AAA9</cusip>
    <figi>BBG01ZX12YF9</figi>
    <value>8657500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10000000</Sole>
      <Shared>10000000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Johnson &amp; Johnson - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>478160104</cusip>
    <figi>BBG000BMHYD1</figi>
    <value>87338412</value>
    <shrsOrPrnAmt>
      <sshPrnamt>357300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>357300</Sole>
      <Shared>357300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Johnson &amp; Johnson - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>478160104</cusip>
    <figi>BBG000BMHYD1</figi>
    <value>101662596</value>
    <shrsOrPrnAmt>
      <sshPrnamt>415900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>415900</Sole>
      <Shared>415900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Johnson Controls International Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G51502105</cusip>
    <figi>BBG000BVWLJ6</figi>
    <value>28613754</value>
    <shrsOrPrnAmt>
      <sshPrnamt>218509</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>218509</Sole>
      <Shared>218509</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Johnson Controls International Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G51502105</cusip>
    <figi>BBG000BVWLJ6</figi>
    <value>1047600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8000</Sole>
      <Shared>8000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Johnson Controls International Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G51502105</cusip>
    <figi>BBG000BVWLJ6</figi>
    <value>3784455</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28900</Sole>
      <Shared>28900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jpmorgan Chase &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46625H100</cusip>
    <figi>BBG000DMBXR2</figi>
    <value>143639505</value>
    <shrsOrPrnAmt>
      <sshPrnamt>488304</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>488304</Sole>
      <Shared>488304</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jpmorgan Chase &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46625H100</cusip>
    <figi>BBG000DMBXR2</figi>
    <value>37858392</value>
    <shrsOrPrnAmt>
      <sshPrnamt>128700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>128700</Sole>
      <Shared>128700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jpmorgan Chase &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>46625H100</cusip>
    <figi>BBG000DMBXR2</figi>
    <value>102779504</value>
    <shrsOrPrnAmt>
      <sshPrnamt>349400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>349400</Sole>
      <Shared>349400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Jumia Technologies Ag - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>48138M105</cusip>
    <figi>BBG00NKZF9N8</figi>
    <value>3622500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>525000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>525000</Sole>
      <Shared>525000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Karman Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>485924104</cusip>
    <figi>BBG01RXK1PK9</figi>
    <value>488305</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6100</Sole>
      <Shared>6100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kb Home - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>48666K109</cusip>
    <figi>BBG000BMLWX8</figi>
    <value>4482119</value>
    <shrsOrPrnAmt>
      <sshPrnamt>86611</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>86611</Sole>
      <Shared>86611</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kb Home - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>48666K109</cusip>
    <figi>BBG000BMLWX8</figi>
    <value>238050</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4600</Sole>
      <Shared>4600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kbr Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>48242W106</cusip>
    <figi>BBG000P28YZ6</figi>
    <value>5506995</value>
    <shrsOrPrnAmt>
      <sshPrnamt>149403</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>149403</Sole>
      <Shared>149403</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ke Holdings Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>482497104</cusip>
    <figi>BBG00W9L9LX1</figi>
    <value>3402681</value>
    <shrsOrPrnAmt>
      <sshPrnamt>227300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>227300</Sole>
      <Shared>227300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ke Holdings Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>482497104</cusip>
    <figi>BBG00W9L9LX1</figi>
    <value>833829</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>55700</Sole>
      <Shared>55700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kearny Financial Corp/Md - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>48716P108</cusip>
    <figi>BBG008N1HXP6</figi>
    <value>136632</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18097</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18097</Sole>
      <Shared>18097</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kemper Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>488401100</cusip>
    <figi>BBG000H3GDJ8</figi>
    <value>10238945</value>
    <shrsOrPrnAmt>
      <sshPrnamt>335044</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>335044</Sole>
      <Shared>335044</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kenvue Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>49177J102</cusip>
    <figi>BBG01C79X561</figi>
    <value>191857047</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11128599</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11128599</Sole>
      <Shared>11128599</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kenvue Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>49177J102</cusip>
    <figi>BBG01C79X561</figi>
    <value>1210248</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>70200</Sole>
      <Shared>70200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kenvue Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>49177J102</cusip>
    <figi>BBG01C79X561</figi>
    <value>843036</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>48900</Sole>
      <Shared>48900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Keros Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>492327101</cusip>
    <figi>BBG00H1HP9G9</figi>
    <value>309197</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28007</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28007</Sole>
      <Shared>28007</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kestra Medical Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G52441105</cusip>
    <figi>BBG00QHLL9R5</figi>
    <value>635767</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31900</Sole>
      <Shared>31900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Keurig Dr Pepper Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>49271V100</cusip>
    <figi>BBG000TJM7F0</figi>
    <value>3952133</value>
    <shrsOrPrnAmt>
      <sshPrnamt>150100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>150100</Sole>
      <Shared>150100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Keurig Dr Pepper Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>49271V100</cusip>
    <figi>BBG000TJM7F0</figi>
    <value>547664</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20800</Sole>
      <Shared>20800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Keurig Dr Pepper Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>49271V100</cusip>
    <figi>BBG000TJM7F0</figi>
    <value>1708817</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>64900</Sole>
      <Shared>64900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Keycorp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>493267108</cusip>
    <figi>BBG000BMQPL1</figi>
    <value>1990965</value>
    <shrsOrPrnAmt>
      <sshPrnamt>99300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>99300</Sole>
      <Shared>99300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Keycorp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>493267108</cusip>
    <figi>BBG000BMQPL1</figi>
    <value>407015</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20300</Sole>
      <Shared>20300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Keysight Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>49338L103</cusip>
    <figi>BBG0059FN811</figi>
    <value>5439576</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19264</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19264</Sole>
      <Shared>19264</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Keysight Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>49338L103</cusip>
    <figi>BBG0059FN811</figi>
    <value>6748643</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23900</Sole>
      <Shared>23900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Keysight Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>49338L103</cusip>
    <figi>BBG0059FN811</figi>
    <value>1496561</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5300</Sole>
      <Shared>5300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kilroy Realty Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>49427F108</cusip>
    <figi>BBG000BLMXN8</figi>
    <value>1301327</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46130</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46130</Sole>
      <Shared>46130</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kimbell Royalty Partners Lp - US Unit</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>49435R102</cusip>
    <figi>BBG00FQH6MJ5</figi>
    <value>1476895</value>
    <shrsOrPrnAmt>
      <sshPrnamt>102066</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>102066</Sole>
      <Shared>102066</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kinder Morgan Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>49456B101</cusip>
    <figi>BBG0019JZ882</figi>
    <value>2101560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62677</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>62677</Sole>
      <Shared>62677</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kinder Morgan Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>49456B101</cusip>
    <figi>BBG0019JZ882</figi>
    <value>2729342</value>
    <shrsOrPrnAmt>
      <sshPrnamt>81400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>81400</Sole>
      <Shared>81400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kinder Morgan Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>49456B101</cusip>
    <figi>BBG0019JZ882</figi>
    <value>5562627</value>
    <shrsOrPrnAmt>
      <sshPrnamt>165900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>165900</Sole>
      <Shared>165900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kinross Gold Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>496902404</cusip>
    <figi>BBG000BB2DM7</figi>
    <value>1782704</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58411</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58411</Sole>
      <Shared>58411</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kinross Gold Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>496902404</cusip>
    <figi>BBG000BB2DM7</figi>
    <value>845404</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27700</Sole>
      <Shared>27700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kinross Gold Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>496902404</cusip>
    <figi>BBG000BB2DM7</figi>
    <value>4028640</value>
    <shrsOrPrnAmt>
      <sshPrnamt>132000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>132000</Sole>
      <Shared>132000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kinsale Capital Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>49714P108</cusip>
    <figi>BBG00D8JD9Z9</figi>
    <value>21989238</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64360</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>64360</Sole>
      <Shared>64360</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kinsale Capital Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>49714P108</cusip>
    <figi>BBG00D8JD9Z9</figi>
    <value>239162</value>
    <shrsOrPrnAmt>
      <sshPrnamt>700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>700</Sole>
      <Shared>700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kinsale Capital Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>49714P108</cusip>
    <figi>BBG00D8JD9Z9</figi>
    <value>204996</value>
    <shrsOrPrnAmt>
      <sshPrnamt>600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>600</Sole>
      <Shared>600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kite Realty Group Trust - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>49803T300</cusip>
    <figi>BBG000BC2KW8</figi>
    <value>2890001</value>
    <shrsOrPrnAmt>
      <sshPrnamt>117719</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>117719</Sole>
      <Shared>117719</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kkr &amp; Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>48251W104</cusip>
    <figi>BBG000BCQ6J8</figi>
    <value>18524883</value>
    <shrsOrPrnAmt>
      <sshPrnamt>200269</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>200269</Sole>
      <Shared>200269</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kkr &amp; Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>48251W104</cusip>
    <figi>BBG000BCQ6J8</figi>
    <value>4995000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>54000</Sole>
      <Shared>54000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kkr &amp; Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>48251W104</cusip>
    <figi>BBG000BCQ6J8</figi>
    <value>27777750</value>
    <shrsOrPrnAmt>
      <sshPrnamt>300300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>300300</Sole>
      <Shared>300300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kla Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>482480100</cusip>
    <figi>BBG000BMTFR4</figi>
    <value>8098255</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5500</Sole>
      <Shared>5500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Klarna Group PLC - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G5279N105</cusip>
    <figi>BBG01MG54LV6</figi>
    <value>582204</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44477</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44477</Sole>
      <Shared>44477</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Klarna Group PLC - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G5279N105</cusip>
    <figi>BBG01MG54LV6</figi>
    <value>1137521</value>
    <shrsOrPrnAmt>
      <sshPrnamt>86900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>86900</Sole>
      <Shared>86900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Klaviyo Inc - US Series A</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>49845K101</cusip>
    <figi>BBG009WR3FL5</figi>
    <value>3169353</value>
    <shrsOrPrnAmt>
      <sshPrnamt>162865</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>162865</Sole>
      <Shared>162865</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Klaviyo Inc - US Series A</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>49845K101</cusip>
    <figi>BBG009WR3FL5</figi>
    <value>274386</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14100</Sole>
      <Shared>14100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Klaviyo Inc - US Series A</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>49845K101</cusip>
    <figi>BBG009WR3FL5</figi>
    <value>305522</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15700</Sole>
      <Shared>15700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Knight-Swift Transportation Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>499049104</cusip>
    <figi>BBG000BFC848</figi>
    <value>2850210</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49500</Sole>
      <Shared>49500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Knight-Swift Transportation Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>499049104</cusip>
    <figi>BBG000BFC848</figi>
    <value>2838694</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49300</Sole>
      <Shared>49300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Knowles Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>49926D109</cusip>
    <figi>BBG004M8M6J1</figi>
    <value>4361697</value>
    <shrsOrPrnAmt>
      <sshPrnamt>169848</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>169848</Sole>
      <Shared>169848</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kodiak Sciences Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>50015M109</cusip>
    <figi>BBG00BVR0D02</figi>
    <value>367896</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9651</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9651</Sole>
      <Shared>9651</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kohl's Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>500255104</cusip>
    <figi>BBG000CS7CT9</figi>
    <value>11514979</value>
    <shrsOrPrnAmt>
      <sshPrnamt>892634</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>892634</Sole>
      <Shared>892634</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kohl's Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>500255104</cusip>
    <figi>BBG000CS7CT9</figi>
    <value>183180</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14200</Sole>
      <Shared>14200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kohl's Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>500255104</cusip>
    <figi>BBG000CS7CT9</figi>
    <value>380550</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29500</Sole>
      <Shared>29500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kraft Heinz Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>500754106</cusip>
    <figi>BBG005CPNTQ2</figi>
    <value>620724</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27600</Sole>
      <Shared>27600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kraft Heinz Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>500754106</cusip>
    <figi>BBG005CPNTQ2</figi>
    <value>1000805</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44500</Sole>
      <Shared>44500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kraneshares Csi China Internet Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>500767306</cusip>
    <figi>BBG004XB9HY6</figi>
    <value>100841210</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3547000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3547000</Sole>
      <Shared>3547000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kraneshares Csi China Internet Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>500767306</cusip>
    <figi>BBG004XB9HY6</figi>
    <value>48748921</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1714700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1714700</Sole>
      <Shared>1714700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kraneshares Csi China Internet Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>500767306</cusip>
    <figi>BBG004XB9HY6</figi>
    <value>31851096</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1120334</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1120334</Sole>
      <Shared>1120334</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kratos Defense &amp; Security Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>50077B207</cusip>
    <figi>BBG000C1HQ43</figi>
    <value>14351041</value>
    <shrsOrPrnAmt>
      <sshPrnamt>203532</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>203532</Sole>
      <Shared>203532</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kratos Defense &amp; Security Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>50077B207</cusip>
    <figi>BBG000C1HQ43</figi>
    <value>2771043</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39300</Sole>
      <Shared>39300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kratos Defense &amp; Security Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>50077B207</cusip>
    <figi>BBG000C1HQ43</figi>
    <value>3800489</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>53900</Sole>
      <Shared>53900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Krispy Kreme Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>50101L106</cusip>
    <figi>BBG0118Y86T0</figi>
    <value>4376073</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1290877</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1290877</Sole>
      <Shared>1290877</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Krispy Kreme Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>50101L106</cusip>
    <figi>BBG0118Y86T0</figi>
    <value>61359</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18100</Sole>
      <Shared>18100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kroger Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>501044101</cusip>
    <figi>BBG000BMY992</figi>
    <value>217080</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3000</Sole>
      <Shared>3000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kroger Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>501044101</cusip>
    <figi>BBG000BMY992</figi>
    <value>788724</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10900</Sole>
      <Shared>10900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Krystal Biotech Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>501147102</cusip>
    <figi>BBG00HDGRHH7</figi>
    <value>3739440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14476</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14476</Sole>
      <Shared>14476</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kura Oncology Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>50127T109</cusip>
    <figi>BBG008974342</figi>
    <value>353818</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43520</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43520</Sole>
      <Shared>43520</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kura Sushi Usa Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>501270102</cusip>
    <figi>BBG00PNFJ521</figi>
    <value>429627</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6156</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6156</Sole>
      <Shared>6156</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kyivstar Group Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G5331N101</cusip>
    <figi>BBG01WRCTCP7</figi>
    <value>569027</value>
    <shrsOrPrnAmt>
      <sshPrnamt>56228</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>56228</Sole>
      <Shared>56228</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kyndryl Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>50155Q100</cusip>
    <figi>BBG012W99DN6</figi>
    <value>6902616</value>
    <shrsOrPrnAmt>
      <sshPrnamt>526114</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>526114</Sole>
      <Shared>526114</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kyndryl Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>50155Q100</cusip>
    <figi>BBG012W99DN6</figi>
    <value>4635296</value>
    <shrsOrPrnAmt>
      <sshPrnamt>353300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>353300</Sole>
      <Shared>353300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Kyndryl Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>50155Q100</cusip>
    <figi>BBG012W99DN6</figi>
    <value>629760</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>48000</Sole>
      <Shared>48000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>L3Harris Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>502431109</cusip>
    <figi>BBG000BLGFJ9</figi>
    <value>276120</value>
    <shrsOrPrnAmt>
      <sshPrnamt>800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>800</Sole>
      <Shared>800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>L3Harris Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>502431109</cusip>
    <figi>BBG000BLGFJ9</figi>
    <value>1967355</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5700</Sole>
      <Shared>5700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Labcorp Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>504922105</cusip>
    <figi>BBG01MMT6PL7</figi>
    <value>405551</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1520</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1520</Sole>
      <Shared>1520</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lakeland Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>511656100</cusip>
    <figi>BBG000BHR1R8</figi>
    <value>3439759</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59947</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>59947</Sole>
      <Shared>59947</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lam Research Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>512807306</cusip>
    <figi>BBG000BNFLM9</figi>
    <value>40291789</value>
    <shrsOrPrnAmt>
      <sshPrnamt>188579</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>188579</Sole>
      <Shared>188579</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lam Research Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>512807306</cusip>
    <figi>BBG000BNFLM9</figi>
    <value>22904352</value>
    <shrsOrPrnAmt>
      <sshPrnamt>107200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>107200</Sole>
      <Shared>107200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lam Research Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>512807306</cusip>
    <figi>BBG000BNFLM9</figi>
    <value>28117656</value>
    <shrsOrPrnAmt>
      <sshPrnamt>131600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>131600</Sole>
      <Shared>131600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lamar Advertising Co - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>512816109</cusip>
    <figi>BBG000FGMKY1</figi>
    <value>7616319</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60132</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60132</Sole>
      <Shared>60132</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lamb Weston Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>513272104</cusip>
    <figi>BBG003CVMLQ2</figi>
    <value>5218392</value>
    <shrsOrPrnAmt>
      <sshPrnamt>123483</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>123483</Sole>
      <Shared>123483</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lamb Weston Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>513272104</cusip>
    <figi>BBG003CVMLQ2</figi>
    <value>2074966</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49100</Sole>
      <Shared>49100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lamb Weston Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>513272104</cusip>
    <figi>BBG003CVMLQ2</figi>
    <value>1563620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37000</Sole>
      <Shared>37000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Landbridge Co LLC - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>514952100</cusip>
    <figi>BBG01N59HNH6</figi>
    <value>2789068</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40392</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40392</Sole>
      <Shared>40392</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lands' End Inc - US</nameOfIssuer>
    <titleOfClass>Equity (When-Issued)</titleOfClass>
    <cusip>51509F105</cusip>
    <figi>BBG005P337D1</figi>
    <value>1712762</value>
    <shrsOrPrnAmt>
      <sshPrnamt>152381</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>152381</Sole>
      <Shared>152381</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Las Vegas Sands Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>517834107</cusip>
    <figi>BBG000JWD753</figi>
    <value>18524052</value>
    <shrsOrPrnAmt>
      <sshPrnamt>343802</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>343802</Sole>
      <Shared>343802</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Las Vegas Sands Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>517834107</cusip>
    <figi>BBG000JWD753</figi>
    <value>1379328</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25600</Sole>
      <Shared>25600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lazard Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>52110M109</cusip>
    <figi>BBG000BT4C39</figi>
    <value>216648</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5100</Sole>
      <Shared>5100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>La-Z-Boy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>505336107</cusip>
    <figi>BBG000BNLC97</figi>
    <value>289003</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8992</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8992</Sole>
      <Shared>8992</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Legato Merger Corp IV - US Unit</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G7318R121</cusip>
    <figi>BBG01Z7RJLC4</figi>
    <value>6487000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>650000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>650000</Sole>
      <Shared>650000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Legend Biotech Corp - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>52490G102</cusip>
    <figi>BBG00TTGH5W4</figi>
    <value>996795</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55102</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>55102</Sole>
      <Shared>55102</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Legend Biotech Corp - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>52490G102</cusip>
    <figi>BBG00TTGH5W4</figi>
    <value>302103</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16700</Sole>
      <Shared>16700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Legend Biotech Corp - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>52490G102</cusip>
    <figi>BBG00TTGH5W4</figi>
    <value>329238</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18200</Sole>
      <Shared>18200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Leidos Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>525327102</cusip>
    <figi>BBG000C23PB0</figi>
    <value>30914421</value>
    <shrsOrPrnAmt>
      <sshPrnamt>198781</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>198781</Sole>
      <Shared>198781</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Leidos Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>525327102</cusip>
    <figi>BBG000C23PB0</figi>
    <value>202176</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1300</Sole>
      <Shared>1300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lemaitre Vascular Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>525558201</cusip>
    <figi>BBG000LY1HS2</figi>
    <value>3618658</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33147</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33147</Sole>
      <Shared>33147</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lemonade Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>52567D107</cusip>
    <figi>BBG00BM5YC05</figi>
    <value>7041597</value>
    <shrsOrPrnAmt>
      <sshPrnamt>112342</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>112342</Sole>
      <Shared>112342</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lemonade Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>52567D107</cusip>
    <figi>BBG00BM5YC05</figi>
    <value>8292564</value>
    <shrsOrPrnAmt>
      <sshPrnamt>132300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>132300</Sole>
      <Shared>132300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lemonade Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>52567D107</cusip>
    <figi>BBG00BM5YC05</figi>
    <value>6807048</value>
    <shrsOrPrnAmt>
      <sshPrnamt>108600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>108600</Sole>
      <Shared>108600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lendingclub Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>52603A208</cusip>
    <figi>BBG001YKDND6</figi>
    <value>968032</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>67600</Sole>
      <Shared>67600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lendingtree Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>52603B107</cusip>
    <figi>BBG000TVRB50</figi>
    <value>758976</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17700</Sole>
      <Shared>17700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lennar Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>526057104</cusip>
    <figi>BBG000BN5HF7</figi>
    <value>32937196</value>
    <shrsOrPrnAmt>
      <sshPrnamt>379286</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>379286</Sole>
      <Shared>379286</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lennar Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>526057104</cusip>
    <figi>BBG000BN5HF7</figi>
    <value>5774860</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>66500</Sole>
      <Shared>66500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lennar Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>526057104</cusip>
    <figi>BBG000BN5HF7</figi>
    <value>5436184</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>62600</Sole>
      <Shared>62600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lennox International Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>526107107</cusip>
    <figi>BBG000BB5B84</figi>
    <value>17428546</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37551</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37551</Sole>
      <Shared>37551</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Leonardo Drs Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>52661A108</cusip>
    <figi>BBG00ZSB4TS9</figi>
    <value>1228752</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27600</Sole>
      <Shared>27600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Levi Strauss &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>52736R102</cusip>
    <figi>BBG000BQDF10</figi>
    <value>10656582</value>
    <shrsOrPrnAmt>
      <sshPrnamt>576343</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>576343</Sole>
      <Shared>576343</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Levi Strauss &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>52736R102</cusip>
    <figi>BBG000BQDF10</figi>
    <value>232974</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12600</Sole>
      <Shared>12600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Li Auto Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>50202M102</cusip>
    <figi>BBG00W0KZD98</figi>
    <value>2399918</value>
    <shrsOrPrnAmt>
      <sshPrnamt>134600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>134600</Sole>
      <Shared>134600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Li Auto Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>50202M102</cusip>
    <figi>BBG00W0KZD98</figi>
    <value>791652</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44400</Sole>
      <Shared>44400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Liberty Broadband C</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>530307305</cusip>
    <figi>BBG006GNSZW5</figi>
    <value>107423396</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2135654</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2135654</Sole>
      <Shared>2135654</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Liberty Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>53115L104</cusip>
    <figi>BBG00GK831B6</figi>
    <value>2954419</value>
    <shrsOrPrnAmt>
      <sshPrnamt>102584</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>102584</Sole>
      <Shared>102584</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Liberty Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>53115L104</cusip>
    <figi>BBG00GK831B6</figi>
    <value>279360</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9700</Sole>
      <Shared>9700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Liberty Global Ltd - A</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G61188101</cusip>
    <figi>BBG01K9HZH92</figi>
    <value>506571</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41900</Sole>
      <Shared>41900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Liberty Live Holdings Class A - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>530909100</cusip>
    <figi>BBG01YY256K1</figi>
    <value>916125</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9997</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9997</Sole>
      <Shared>9997</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Liberty Live Holdings Class C - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>530909308</cusip>
    <figi>BBG01YYX1Z14</figi>
    <value>1651160</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17545</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17545</Sole>
      <Shared>17545</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Liberty Media Corp-Liberty Formula One-c</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>531229755</cusip>
    <figi>BBG01HLMBCG3</figi>
    <value>2381580</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28012</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28012</Sole>
      <Shared>28012</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lifeway Foods Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>531914109</cusip>
    <figi>BBG000BNJTC9</figi>
    <value>5152137</value>
    <shrsOrPrnAmt>
      <sshPrnamt>266398</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>266398</Sole>
      <Shared>266398</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lightpath Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>532257805</cusip>
    <figi>BBG000M6G940</figi>
    <value>8858777</value>
    <shrsOrPrnAmt>
      <sshPrnamt>883228</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>883228</Sole>
      <Shared>883228</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lightpath Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>532257805</cusip>
    <figi>BBG000M6G940</figi>
    <value>3010003</value>
    <shrsOrPrnAmt>
      <sshPrnamt>300100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>300100</Sole>
      <Shared>300100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lightpath Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>532257805</cusip>
    <figi>BBG000M6G940</figi>
    <value>521560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52000</Sole>
      <Shared>52000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lincoln Educational Services Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>533535100</cusip>
    <figi>BBG000GM1PH8</figi>
    <value>3374976</value>
    <shrsOrPrnAmt>
      <sshPrnamt>82964</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>82964</Sole>
      <Shared>82964</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lincoln Electric Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>533900106</cusip>
    <figi>BBG000BB72K8</figi>
    <value>980379</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3936</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3936</Sole>
      <Shared>3936</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lincoln Electric Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>533900106</cusip>
    <figi>BBG000BB72K8</figi>
    <value>722332</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2900</Sole>
      <Shared>2900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lincoln National Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>534187109</cusip>
    <figi>BBG000BNC3Y9</figi>
    <value>454400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12800</Sole>
      <Shared>12800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lincoln National Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>534187109</cusip>
    <figi>BBG000BNC3Y9</figi>
    <value>777450</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21900</Sole>
      <Shared>21900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lindblad Expeditions Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>535219109</cusip>
    <figi>BBG004MDWKS8</figi>
    <value>2771858</value>
    <shrsOrPrnAmt>
      <sshPrnamt>160223</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>160223</Sole>
      <Shared>160223</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lineage Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>53566V106</cusip>
    <figi>BBG01NJDR0W4</figi>
    <value>219492</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6700</Sole>
      <Shared>6700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lineage Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>53566V106</cusip>
    <figi>BBG01NJDR0W4</figi>
    <value>232596</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7100</Sole>
      <Shared>7100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Liquidia Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>53635D202</cusip>
    <figi>BBG001J2P905</figi>
    <value>1519526</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40263</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40263</Sole>
      <Shared>40263</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Liquidia Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>53635D202</cusip>
    <figi>BBG001J2P905</figi>
    <value>271728</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7200</Sole>
      <Shared>7200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lithia Motors Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>536797103</cusip>
    <figi>BBG000K3BC83</figi>
    <value>4171573</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16705</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16705</Sole>
      <Shared>16705</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lithia Motors Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>536797103</cusip>
    <figi>BBG000K3BC83</figi>
    <value>599328</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2400</Sole>
      <Shared>2400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Livanova Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G5509L101</cusip>
    <figi>BBG009LGHG16</figi>
    <value>1421583</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22366</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22366</Sole>
      <Shared>22366</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Live Nation Entertainment Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>538034109</cusip>
    <figi>BBG000FQ7YR4</figi>
    <value>7778010</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51000</Sole>
      <Shared>51000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Live Nation Entertainment Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>538034109</cusip>
    <figi>BBG000FQ7YR4</figi>
    <value>381275</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2500</Sole>
      <Shared>2500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Live Nation Entertainment Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>538034109</cusip>
    <figi>BBG000FQ7YR4</figi>
    <value>1647108</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10800</Sole>
      <Shared>10800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Live Nation Entertainment Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>538034BC2</cusip>
    <figi>BBG01R3LF2J8</figi>
    <value>33500150</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31000000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31000000</Sole>
      <Shared>31000000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lkq Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>501889208</cusip>
    <figi>BBG000PXDL44</figi>
    <value>1809868</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61623</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>61623</Sole>
      <Shared>61623</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Loandepot Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>53946R106</cusip>
    <figi>BBG00B5Z6KK9</figi>
    <value>504452</value>
    <shrsOrPrnAmt>
      <sshPrnamt>355248</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>355248</Sole>
      <Shared>355248</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lockheed Martin Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>539830109</cusip>
    <figi>BBG000C1BW00</figi>
    <value>8038387</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13300</Sole>
      <Shared>13300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lockheed Martin Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>539830109</cusip>
    <figi>BBG000C1BW00</figi>
    <value>16620725</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27500</Sole>
      <Shared>27500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Logitech International Sa - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>H50430232</cusip>
    <figi>BBG000BQNBN4</figi>
    <value>19274522</value>
    <shrsOrPrnAmt>
      <sshPrnamt>211529</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>211529</Sole>
      <Shared>211529</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Logitech International Sa - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H50430232</cusip>
    <figi>BBG000BQNBN4</figi>
    <value>1211896</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13300</Sole>
      <Shared>13300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lowe's Cos Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>548661107</cusip>
    <figi>BBG000BNDN65</figi>
    <value>3602089</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15245</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15245</Sole>
      <Shared>15245</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lowe's Cos Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>548661107</cusip>
    <figi>BBG000BNDN65</figi>
    <value>2339172</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9900</Sole>
      <Shared>9900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lowe's Cos Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>548661107</cusip>
    <figi>BBG000BNDN65</figi>
    <value>13208052</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>55900</Sole>
      <Shared>55900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lpl Financial Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>50212V100</cusip>
    <figi>BBG000P2TYL8</figi>
    <value>451245</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1500</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lsb Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>502160104</cusip>
    <figi>BBG000C1C526</figi>
    <value>4820761</value>
    <shrsOrPrnAmt>
      <sshPrnamt>323541</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>323541</Sole>
      <Shared>323541</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ltc Properties Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>502175102</cusip>
    <figi>BBG000BGCCC8</figi>
    <value>11353123</value>
    <shrsOrPrnAmt>
      <sshPrnamt>305520</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>305520</Sole>
      <Shared>305520</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lululemon Athletica Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>550021109</cusip>
    <figi>BBG000R8ZVD1</figi>
    <value>8818560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57600</Sole>
      <Shared>57600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lululemon Athletica Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>550021109</cusip>
    <figi>BBG000R8ZVD1</figi>
    <value>40173440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>262400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>262400</Sole>
      <Shared>262400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lumen Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>550241103</cusip>
    <figi>BBG000BGLRN3</figi>
    <value>16809360</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2418613</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2418613</Sole>
      <Shared>2418613</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lumen Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>550241103</cusip>
    <figi>BBG000BGLRN3</figi>
    <value>534455</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>76900</Sole>
      <Shared>76900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lumentum Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>55024U109</cusip>
    <figi>BBG0073F9RT7</figi>
    <value>1617051</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2301</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2301</Sole>
      <Shared>2301</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lumentum Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>55024U109</cusip>
    <figi>BBG0073F9RT7</figi>
    <value>21715284</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30900</Sole>
      <Shared>30900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lumentum Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>55024U109</cusip>
    <figi>BBG0073F9RT7</figi>
    <value>43992776</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>62600</Sole>
      <Shared>62600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lyft Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>55087P104</cusip>
    <figi>BBG004M9ZHX5</figi>
    <value>1548320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>116415</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>116415</Sole>
      <Shared>116415</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lyft Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>55087P104</cusip>
    <figi>BBG004M9ZHX5</figi>
    <value>486780</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36600</Sole>
      <Shared>36600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lyft Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>55087P104</cusip>
    <figi>BBG004M9ZHX5</figi>
    <value>927010</value>
    <shrsOrPrnAmt>
      <sshPrnamt>69700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>69700</Sole>
      <Shared>69700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lyondellbasell Industries Nv - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N53745100</cusip>
    <figi>BBG000WCFV84</figi>
    <value>4753040</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>59000</Sole>
      <Shared>59000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Lyondellbasell Industries Nv - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N53745100</cusip>
    <figi>BBG000WCFV84</figi>
    <value>6831488</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>84800</Sole>
      <Shared>84800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>M&amp;T Bank Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>55261F104</cusip>
    <figi>BBG000D9KWL9</figi>
    <value>413440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2000</Sole>
      <Shared>2000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>M/I Homes Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>55305B101</cusip>
    <figi>BBG000BL9MZ4</figi>
    <value>1516176</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12382</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12382</Sole>
      <Shared>12382</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Macrogenics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>556099109</cusip>
    <figi>BBG000BM2SF8</figi>
    <value>47480</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16429</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16429</Sole>
      <Shared>16429</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Macy's Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>55616P104</cusip>
    <figi>BBG000C46HM9</figi>
    <value>5598837</value>
    <shrsOrPrnAmt>
      <sshPrnamt>309499</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>309499</Sole>
      <Shared>309499</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Macy's Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>55616P104</cusip>
    <figi>BBG000C46HM9</figi>
    <value>197181</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10900</Sole>
      <Shared>10900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Macy's Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>55616P104</cusip>
    <figi>BBG000C46HM9</figi>
    <value>242406</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13400</Sole>
      <Shared>13400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Madison Square Garden Sports Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>55825T103</cusip>
    <figi>BBG007FG0C23</figi>
    <value>289260</value>
    <shrsOrPrnAmt>
      <sshPrnamt>900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>900</Sole>
      <Shared>900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Madrigal Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>558868105</cusip>
    <figi>BBG000QS6NV8</figi>
    <value>6087956</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11630</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11630</Sole>
      <Shared>11630</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Magna International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>559222401</cusip>
    <figi>BBG000BNLPJ7</figi>
    <value>239983</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4300</Sole>
      <Shared>4300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Magnera Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>55939A107</cusip>
    <figi>BBG000BKFNX9</figi>
    <value>2560567</value>
    <shrsOrPrnAmt>
      <sshPrnamt>269250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>269250</Sole>
      <Shared>269250</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Magnite Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>55955D100</cusip>
    <figi>BBG000PBDRC0</figi>
    <value>874903</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73645</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>73645</Sole>
      <Shared>73645</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Magnite Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>55955D100</cusip>
    <figi>BBG000PBDRC0</figi>
    <value>664092</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>55900</Sole>
      <Shared>55900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Magnolia Oil &amp; Gas Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>559663109</cusip>
    <figi>BBG00GNC8DL2</figi>
    <value>2954952</value>
    <shrsOrPrnAmt>
      <sshPrnamt>93600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>93600</Sole>
      <Shared>93600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Main Street Capital Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>56035L104</cusip>
    <figi>BBG000BXT422</figi>
    <value>3862373</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72930</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>72930</Sole>
      <Shared>72930</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Manitowoc Co Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>563571405</cusip>
    <figi>BBG000D2M6H4</figi>
    <value>274917</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23598</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23598</Sole>
      <Shared>23598</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mannkind Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>56400P706</cusip>
    <figi>BBG000PPL3G9</figi>
    <value>384229</value>
    <shrsOrPrnAmt>
      <sshPrnamt>156828</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>156828</Sole>
      <Shared>156828</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MapLight Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>56565P103</cusip>
    <figi>BBG01JZ5DBQ0</figi>
    <value>746924</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36740</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36740</Sole>
      <Shared>36740</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MARA Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>565788106</cusip>
    <figi>BBG001K7WBT8</figi>
    <value>1034133</value>
    <shrsOrPrnAmt>
      <sshPrnamt>126732</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>126732</Sole>
      <Shared>126732</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MARA Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>565788106</cusip>
    <figi>BBG001K7WBT8</figi>
    <value>552432</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>67700</Sole>
      <Shared>67700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MARA Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>565788106</cusip>
    <figi>BBG001K7WBT8</figi>
    <value>1518576</value>
    <shrsOrPrnAmt>
      <sshPrnamt>186100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>186100</Sole>
      <Shared>186100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Marathon Petroleum Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>56585A102</cusip>
    <figi>BBG001DCCGR8</figi>
    <value>1953440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8000</Sole>
      <Shared>8000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Marathon Petroleum Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>56585A102</cusip>
    <figi>BBG001DCCGR8</figi>
    <value>7911432</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32400</Sole>
      <Shared>32400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Maravai Lifesciences Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>56600D107</cusip>
    <figi>BBG00Y1DFV91</figi>
    <value>1123269</value>
    <shrsOrPrnAmt>
      <sshPrnamt>396915</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>396915</Sole>
      <Shared>396915</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Marcus &amp; Millichap Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>566324109</cusip>
    <figi>BBG005GBRSR6</figi>
    <value>2670381</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100428</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100428</Sole>
      <Shared>100428</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Marcus Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>566330106</cusip>
    <figi>BBG000D6HL06</figi>
    <value>1089746</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63468</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>63468</Sole>
      <Shared>63468</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Marinemax Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>567908108</cusip>
    <figi>BBG000C1SRH5</figi>
    <value>3416920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>126272</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>126272</Sole>
      <Shared>126272</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Marriott International Inc/Md - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>571903202</cusip>
    <figi>BBG000BGD7W6</figi>
    <value>2910923</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8900</Sole>
      <Shared>8900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Marriott International Inc/Md - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>571903202</cusip>
    <figi>BBG000BGD7W6</figi>
    <value>2976337</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9100</Sole>
      <Shared>9100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Marsh &amp; Mclennan Cos Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>571748102</cusip>
    <figi>BBG000BP4MH0</figi>
    <value>225485</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1300</Sole>
      <Shared>1300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Marsh &amp; Mclennan Cos Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>571748102</cusip>
    <figi>BBG000BP4MH0</figi>
    <value>503005</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2900</Sole>
      <Shared>2900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Martin Marietta Materials Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>573284106</cusip>
    <figi>BBG000BGYMH7</figi>
    <value>1559413</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2649</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2649</Sole>
      <Shared>2649</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Marvell Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>573874104</cusip>
    <figi>BBG00ZXBJ153</figi>
    <value>12412946</value>
    <shrsOrPrnAmt>
      <sshPrnamt>125320</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>125320</Sole>
      <Shared>125320</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Marvell Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>573874104</cusip>
    <figi>BBG00ZXBJ153</figi>
    <value>45771005</value>
    <shrsOrPrnAmt>
      <sshPrnamt>462100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>462100</Sole>
      <Shared>462100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Marvell Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>573874104</cusip>
    <figi>BBG00ZXBJ153</figi>
    <value>51595145</value>
    <shrsOrPrnAmt>
      <sshPrnamt>520900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>520900</Sole>
      <Shared>520900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Marzetti Company/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>513847103</cusip>
    <figi>BBG000BN1M88</figi>
    <value>5172297</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37391</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37391</Sole>
      <Shared>37391</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Masimo Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>574795100</cusip>
    <figi>BBG000C3W281</figi>
    <value>25592647</value>
    <shrsOrPrnAmt>
      <sshPrnamt>143884</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>143884</Sole>
      <Shared>143884</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Masimo Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>574795100</cusip>
    <figi>BBG000C3W281</figi>
    <value>36196545</value>
    <shrsOrPrnAmt>
      <sshPrnamt>203500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>203500</Sole>
      <Shared>203500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mastec Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>576323109</cusip>
    <figi>BBG000DYXD23</figi>
    <value>353914</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1100</Sole>
      <Shared>1100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mastec Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>576323109</cusip>
    <figi>BBG000DYXD23</figi>
    <value>643480</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2000</Sole>
      <Shared>2000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mastercard Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>57636Q104</cusip>
    <figi>BBG000F1ZSQ2</figi>
    <value>1173202</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2348</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2348</Sole>
      <Shared>2348</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mastercard Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>57636Q104</cusip>
    <figi>BBG000F1ZSQ2</figi>
    <value>5646158</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11300</Sole>
      <Shared>11300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mastercard Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>57636Q104</cusip>
    <figi>BBG000F1ZSQ2</figi>
    <value>26082252</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52200</Sole>
      <Shared>52200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mastercraft Boat Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>57637H103</cusip>
    <figi>BBG002ZYLPN8</figi>
    <value>569686</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27776</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27776</Sole>
      <Shared>27776</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Matador Resources Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>576485205</cusip>
    <figi>BBG000JCPGZ1</figi>
    <value>454896</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7200</Sole>
      <Shared>7200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Matador Resources Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>576485205</cusip>
    <figi>BBG000JCPGZ1</figi>
    <value>1055106</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16700</Sole>
      <Shared>16700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Match Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>57667L107</cusip>
    <figi>BBG00VT0KNC3</figi>
    <value>214970</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7000</Sole>
      <Shared>7000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mativ Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>808541106</cusip>
    <figi>BBG000C3CWZ7</figi>
    <value>2981473</value>
    <shrsOrPrnAmt>
      <sshPrnamt>342698</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>342698</Sole>
      <Shared>342698</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mattel Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>577081102</cusip>
    <figi>BBG000BNNYW1</figi>
    <value>9024031</value>
    <shrsOrPrnAmt>
      <sshPrnamt>621062</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>621062</Sole>
      <Shared>621062</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mbia Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>55262C100</cusip>
    <figi>BBG000BNQN34</figi>
    <value>2062620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>349005</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>349005</Sole>
      <Shared>349005</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>McCormick &amp; Company</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>579780206</cusip>
    <figi>BBG000G6Y5W4</figi>
    <value>9710104</value>
    <shrsOrPrnAmt>
      <sshPrnamt>192508</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>192508</Sole>
      <Shared>192508</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>McCormick &amp; Company</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>579780206</cusip>
    <figi>BBG000G6Y5W4</figi>
    <value>948272</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18800</Sole>
      <Shared>18800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>McCormick &amp; Company</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>579780206</cusip>
    <figi>BBG000G6Y5W4</figi>
    <value>2184052</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43300</Sole>
      <Shared>43300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mcdonald's Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>580135101</cusip>
    <figi>BBG000BNSZP1</figi>
    <value>13319216</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42856</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42856</Sole>
      <Shared>42856</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mcdonald's Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>580135101</cusip>
    <figi>BBG000BNSZP1</figi>
    <value>6557669</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21100</Sole>
      <Shared>21100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mcdonald's Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>580135101</cusip>
    <figi>BBG000BNSZP1</figi>
    <value>36486746</value>
    <shrsOrPrnAmt>
      <sshPrnamt>117400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>117400</Sole>
      <Shared>117400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>McEwen Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>58039P305</cusip>
    <figi>BBG000BW6CN8</figi>
    <value>1295751</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63455</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>63455</Sole>
      <Shared>63455</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>McEwen Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>58039P305</cusip>
    <figi>BBG000BW6CN8</figi>
    <value>1121058</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>54900</Sole>
      <Shared>54900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>McEwen Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>58039P305</cusip>
    <figi>BBG000BW6CN8</figi>
    <value>528878</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25900</Sole>
      <Shared>25900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mckesson Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>58155Q103</cusip>
    <figi>BBG000DYGNW7</figi>
    <value>14927460</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17250</Sole>
      <Shared>17250</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mckesson Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>58155Q103</cusip>
    <figi>BBG000DYGNW7</figi>
    <value>432680</value>
    <shrsOrPrnAmt>
      <sshPrnamt>500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>500</Sole>
      <Shared>500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mckesson Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>58155Q103</cusip>
    <figi>BBG000DYGNW7</figi>
    <value>865360</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1000</Sole>
      <Shared>1000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MDA Space Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>55293N109</cusip>
    <figi>BBG0113JHT18</figi>
    <value>253200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10000</Sole>
      <Shared>10000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Medical Properties Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>58463J304</cusip>
    <figi>BBG000BGRB25</figi>
    <value>4555013</value>
    <shrsOrPrnAmt>
      <sshPrnamt>983804</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>983804</Sole>
      <Shared>983804</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Medpace Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>58506Q109</cusip>
    <figi>BBG0065B7K59</figi>
    <value>4177173</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8699</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8699</Sole>
      <Shared>8699</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Medtronic Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G5960L103</cusip>
    <figi>BBG000BNWG87</figi>
    <value>397810</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4591</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4591</Sole>
      <Shared>4591</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Medtronic Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G5960L103</cusip>
    <figi>BBG000BNWG87</figi>
    <value>2148920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24800</Sole>
      <Shared>24800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Medtronic Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G5960L103</cusip>
    <figi>BBG000BNWG87</figi>
    <value>7477895</value>
    <shrsOrPrnAmt>
      <sshPrnamt>86300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>86300</Sole>
      <Shared>86300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mercadolibre Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>58733R102</cusip>
    <figi>BBG000GQPB11</figi>
    <value>11008670</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6367</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6367</Sole>
      <Shared>6367</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mercadolibre Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>58733R102</cusip>
    <figi>BBG000GQPB11</figi>
    <value>2247726</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1300</Sole>
      <Shared>1300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mercer International Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>588056101</cusip>
    <figi>BBG000CDMMM0</figi>
    <value>80209</value>
    <shrsOrPrnAmt>
      <sshPrnamt>56485</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>56485</Sole>
      <Shared>56485</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Merck &amp; Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>58933Y105</cusip>
    <figi>BBG000BPD168</figi>
    <value>61576451</value>
    <shrsOrPrnAmt>
      <sshPrnamt>511900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>511900</Sole>
      <Shared>511900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Merck &amp; Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>58933Y105</cusip>
    <figi>BBG000BPD168</figi>
    <value>28833513</value>
    <shrsOrPrnAmt>
      <sshPrnamt>239700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>239700</Sole>
      <Shared>239700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mercury General Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>589400100</cusip>
    <figi>BBG000F1C7F5</figi>
    <value>2782631</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31567</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31567</Sole>
      <Shared>31567</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Merit Medical Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>589889104</cusip>
    <figi>BBG000C42VX0</figi>
    <value>4182603</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60679</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60679</Sole>
      <Shared>60679</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Meritage Homes Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>59001A102</cusip>
    <figi>BBG000F4F1N0</figi>
    <value>14568762</value>
    <shrsOrPrnAmt>
      <sshPrnamt>235588</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>235588</Sole>
      <Shared>235588</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mesa Laboratories Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>59064R109</cusip>
    <figi>BBG000BP3PW7</figi>
    <value>607799</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6874</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6874</Sole>
      <Shared>6874</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Meta Platforms Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>30303M102</cusip>
    <figi>BBG000MM2P62</figi>
    <value>121288699</value>
    <shrsOrPrnAmt>
      <sshPrnamt>211995</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>211995</Sole>
      <Shared>211995</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Meta Platforms Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>30303M102</cusip>
    <figi>BBG000MM2P62</figi>
    <value>178676199</value>
    <shrsOrPrnAmt>
      <sshPrnamt>312300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>312300</Sole>
      <Shared>312300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Meta Platforms Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>30303M102</cusip>
    <figi>BBG000MM2P62</figi>
    <value>239779683</value>
    <shrsOrPrnAmt>
      <sshPrnamt>419100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>419100</Sole>
      <Shared>419100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Metalla Royalty &amp; Streaming Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>59124U605</cusip>
    <figi>BBG000HM5YW7</figi>
    <value>3448488</value>
    <shrsOrPrnAmt>
      <sshPrnamt>520134</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>520134</Sole>
      <Shared>520134</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Methanex Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>59151K108</cusip>
    <figi>BBG000C16MS8</figi>
    <value>15048021</value>
    <shrsOrPrnAmt>
      <sshPrnamt>252738</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>252738</Sole>
      <Shared>252738</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Methode Electronics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>591520200</cusip>
    <figi>BBG000BNY197</figi>
    <value>1467707</value>
    <shrsOrPrnAmt>
      <sshPrnamt>265889</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>265889</Sole>
      <Shared>265889</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Metlife Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>59156R108</cusip>
    <figi>BBG000BB6KF5</figi>
    <value>4983921</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70474</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>70474</Sole>
      <Shared>70474</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Metlife Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>59156R108</cusip>
    <figi>BBG000BB6KF5</figi>
    <value>219232</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3100</Sole>
      <Shared>3100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Metlife Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>59156R108</cusip>
    <figi>BBG000BB6KF5</figi>
    <value>1555840</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22000</Sole>
      <Shared>22000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Metropolitan Bank Holding Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>591774104</cusip>
    <figi>BBG001KHD495</figi>
    <value>7679088</value>
    <shrsOrPrnAmt>
      <sshPrnamt>92197</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>92197</Sole>
      <Shared>92197</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mfa Financial Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>55272X607</cusip>
    <figi>BBG000BL6138</figi>
    <value>1014043</value>
    <shrsOrPrnAmt>
      <sshPrnamt>105850</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>105850</Sole>
      <Shared>105850</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mge Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>55277P104</cusip>
    <figi>BBG000JNWST0</figi>
    <value>12337184</value>
    <shrsOrPrnAmt>
      <sshPrnamt>159622</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>159622</Sole>
      <Shared>159622</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mgic Investment Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>552848103</cusip>
    <figi>BBG000CBMH27</figi>
    <value>35428339</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1349651</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1349651</Sole>
      <Shared>1349651</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mgm Resorts International - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>552953101</cusip>
    <figi>BBG000C2BXK4</figi>
    <value>632871</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17100</Sole>
      <Shared>17100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Miami International Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>59356Q108</cusip>
    <figi>BBG004RKDWL9</figi>
    <value>10110054</value>
    <shrsOrPrnAmt>
      <sshPrnamt>259765</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>259765</Sole>
      <Shared>259765</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Microchip Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>595017104</cusip>
    <figi>BBG000BHCP19</figi>
    <value>9810124</value>
    <shrsOrPrnAmt>
      <sshPrnamt>151836</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>151836</Sole>
      <Shared>151836</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Microchip Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>595017104</cusip>
    <figi>BBG000BHCP19</figi>
    <value>555646</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8600</Sole>
      <Shared>8600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Microchip Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>595017104</cusip>
    <figi>BBG000BHCP19</figi>
    <value>4122118</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>63800</Sole>
      <Shared>63800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Microchip Technology Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>595017BG8</cusip>
    <figi>BBG01N38HN08</figi>
    <value>75922425</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76500000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>76500000</Sole>
      <Shared>76500000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Micron Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>595112103</cusip>
    <figi>BBG000C5Z1S3</figi>
    <value>120091309</value>
    <shrsOrPrnAmt>
      <sshPrnamt>355468</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>355468</Sole>
      <Shared>355468</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Micron Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>595112103</cusip>
    <figi>BBG000C5Z1S3</figi>
    <value>89460032</value>
    <shrsOrPrnAmt>
      <sshPrnamt>264800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>264800</Sole>
      <Shared>264800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Micron Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>595112103</cusip>
    <figi>BBG000C5Z1S3</figi>
    <value>218717616</value>
    <shrsOrPrnAmt>
      <sshPrnamt>647400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>647400</Sole>
      <Shared>647400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Microsoft Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>594918104</cusip>
    <figi>BBG000BPH459</figi>
    <value>249618587</value>
    <shrsOrPrnAmt>
      <sshPrnamt>674335</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>674335</Sole>
      <Shared>674335</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Microsoft Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>594918104</cusip>
    <figi>BBG000BPH459</figi>
    <value>203519466</value>
    <shrsOrPrnAmt>
      <sshPrnamt>549800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>549800</Sole>
      <Shared>549800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Microsoft Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>594918104</cusip>
    <figi>BBG000BPH459</figi>
    <value>251345430</value>
    <shrsOrPrnAmt>
      <sshPrnamt>679000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>679000</Sole>
      <Shared>679000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Microvast Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>59516C106</cusip>
    <figi>BBG00NKS36M4</figi>
    <value>895137</value>
    <shrsOrPrnAmt>
      <sshPrnamt>596758</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>596758</Sole>
      <Shared>596758</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mid-America Apartment Communities Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>59522J103</cusip>
    <figi>BBG000BLMY92</figi>
    <value>20404664</value>
    <shrsOrPrnAmt>
      <sshPrnamt>167087</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>167087</Sole>
      <Shared>167087</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mid-America Apartment Communities Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>59522J103</cusip>
    <figi>BBG000BLMY92</figi>
    <value>512904</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4200</Sole>
      <Shared>4200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Miller Industries Inc/Tn - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>600551204</cusip>
    <figi>BBG000BXFWH9</figi>
    <value>2004838</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44014</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44014</Sole>
      <Shared>44014</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mimedx Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>602496101</cusip>
    <figi>BBG000RJ6FL5</figi>
    <value>253728</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64235</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>64235</Sole>
      <Shared>64235</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mineralys Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>603170101</cusip>
    <figi>BBG00ZXN1GN3</figi>
    <value>4218997</value>
    <shrsOrPrnAmt>
      <sshPrnamt>155740</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>155740</Sole>
      <Shared>155740</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mineralys Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>603170101</cusip>
    <figi>BBG00ZXN1GN3</figi>
    <value>17760204</value>
    <shrsOrPrnAmt>
      <sshPrnamt>655600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>655600</Sole>
      <Shared>655600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mineralys Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>603170101</cusip>
    <figi>BBG00ZXN1GN3</figi>
    <value>6482637</value>
    <shrsOrPrnAmt>
      <sshPrnamt>239300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>239300</Sole>
      <Shared>239300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MiniMed Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>60365F109</cusip>
    <figi>BBG01Z6N2YW2</figi>
    <value>237228</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15900</Sole>
      <Shared>15900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mister Car Wash Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>60646V105</cusip>
    <figi>BBG011FS2K38</figi>
    <value>3920444</value>
    <shrsOrPrnAmt>
      <sshPrnamt>562474</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>562474</Sole>
      <Shared>562474</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mizuho Financial Group Inc - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>60687Y109</cusip>
    <figi>BBG000Q85HQ2</figi>
    <value>723167</value>
    <shrsOrPrnAmt>
      <sshPrnamt>91079</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>91079</Sole>
      <Shared>91079</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MKS Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>55306N104</cusip>
    <figi>BBG000BVMG26</figi>
    <value>18678957</value>
    <shrsOrPrnAmt>
      <sshPrnamt>81280</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>81280</Sole>
      <Shared>81280</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MKS Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>55306N104</cusip>
    <figi>BBG000BVMG26</figi>
    <value>528563</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2300</Sole>
      <Shared>2300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MNTN Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>55318A108</cusip>
    <figi>BBG01S437BJ4</figi>
    <value>459976</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52270</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52270</Sole>
      <Shared>52270</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mobileye Global Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>60741F104</cusip>
    <figi>BBG019X46Z37</figi>
    <value>183999</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26783</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26783</Sole>
      <Shared>26783</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mobileye Global Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>60741F104</cusip>
    <figi>BBG019X46Z37</figi>
    <value>140148</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20400</Sole>
      <Shared>20400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mobileye Global Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>60741F104</cusip>
    <figi>BBG019X46Z37</figi>
    <value>209535</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30500</Sole>
      <Shared>30500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Moderna Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>60770K107</cusip>
    <figi>BBG003PHHZT1</figi>
    <value>7270242</value>
    <shrsOrPrnAmt>
      <sshPrnamt>143115</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>143115</Sole>
      <Shared>143115</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Moderna Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>60770K107</cusip>
    <figi>BBG003PHHZT1</figi>
    <value>3997960</value>
    <shrsOrPrnAmt>
      <sshPrnamt>78700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>78700</Sole>
      <Shared>78700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Moderna Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>60770K107</cusip>
    <figi>BBG003PHHZT1</figi>
    <value>7726680</value>
    <shrsOrPrnAmt>
      <sshPrnamt>152100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>152100</Sole>
      <Shared>152100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Modine Manufacturing Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>607828100</cusip>
    <figi>BBG000BP7CL4</figi>
    <value>5471494</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25248</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25248</Sole>
      <Shared>25248</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Modine Manufacturing Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>607828100</cusip>
    <figi>BBG000BP7CL4</figi>
    <value>736814</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3400</Sole>
      <Shared>3400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Modine Manufacturing Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>607828100</cusip>
    <figi>BBG000BP7CL4</figi>
    <value>801827</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3700</Sole>
      <Shared>3700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Moelis &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>60786M105</cusip>
    <figi>BBG000RNBH63</figi>
    <value>6691686</value>
    <shrsOrPrnAmt>
      <sshPrnamt>117398</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>117398</Sole>
      <Shared>117398</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mohawk Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>608190104</cusip>
    <figi>BBG000FLZN98</figi>
    <value>482454</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4900</Sole>
      <Shared>4900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mohawk Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>608190104</cusip>
    <figi>BBG000FLZN98</figi>
    <value>413532</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4200</Sole>
      <Shared>4200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mohawk Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>608190104</cusip>
    <figi>BBG000FLZN98</figi>
    <value>462762</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4700</Sole>
      <Shared>4700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Molina Healthcare Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>60855R100</cusip>
    <figi>BBG000MBHNC8</figi>
    <value>3413813</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25610</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25610</Sole>
      <Shared>25610</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Molina Healthcare Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>60855R100</cusip>
    <figi>BBG000MBHNC8</figi>
    <value>373240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2800</Sole>
      <Shared>2800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Molina Healthcare Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>60855R100</cusip>
    <figi>BBG000MBHNC8</figi>
    <value>2506040</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18800</Sole>
      <Shared>18800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Molson Coors Beverage Co - US Class B</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>60871R209</cusip>
    <figi>BBG000BS7KS3</figi>
    <value>21519364</value>
    <shrsOrPrnAmt>
      <sshPrnamt>499753</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>499753</Sole>
      <Shared>499753</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Molson Coors Beverage Co - US Class B</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>60871R209</cusip>
    <figi>BBG000BS7KS3</figi>
    <value>361704</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8400</Sole>
      <Shared>8400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Molson Coors Beverage Co - US Class B</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>60871R209</cusip>
    <figi>BBG000BS7KS3</figi>
    <value>805222</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18700</Sole>
      <Shared>18700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Monday.Com Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>M7S64H106</cusip>
    <figi>BBG00GF8K4W4</figi>
    <value>3415969</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49428</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49428</Sole>
      <Shared>49428</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Monday.Com Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M7S64H106</cusip>
    <figi>BBG00GF8K4W4</figi>
    <value>4906810</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>71000</Sole>
      <Shared>71000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Monday.Com Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M7S64H106</cusip>
    <figi>BBG00GF8K4W4</figi>
    <value>9606290</value>
    <shrsOrPrnAmt>
      <sshPrnamt>139000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>139000</Sole>
      <Shared>139000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mondelez International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>609207105</cusip>
    <figi>BBG000D4LWF6</figi>
    <value>772376</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13400</Sole>
      <Shared>13400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mondelez International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>609207105</cusip>
    <figi>BBG000D4LWF6</figi>
    <value>4640020</value>
    <shrsOrPrnAmt>
      <sshPrnamt>80500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>80500</Sole>
      <Shared>80500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mongodb Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>60937P106</cusip>
    <figi>BBG0022FDRY8</figi>
    <value>11360265</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46412</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46412</Sole>
      <Shared>46412</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mongodb Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>60937P106</cusip>
    <figi>BBG0022FDRY8</figi>
    <value>4699584</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19200</Sole>
      <Shared>19200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mongodb Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>60937P106</cusip>
    <figi>BBG0022FDRY8</figi>
    <value>8273226</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33800</Sole>
      <Shared>33800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Monolithic Power Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>609839105</cusip>
    <figi>BBG000C30L48</figi>
    <value>218670</value>
    <shrsOrPrnAmt>
      <sshPrnamt>200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>200</Sole>
      <Shared>200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Monster Beverage Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>61174X109</cusip>
    <figi>BBG008NVB1C0</figi>
    <value>1583613</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21855</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21855</Sole>
      <Shared>21855</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Monster Beverage Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>61174X109</cusip>
    <figi>BBG008NVB1C0</figi>
    <value>289840</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4000</Sole>
      <Shared>4000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Monster Beverage Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>61174X109</cusip>
    <figi>BBG008NVB1C0</figi>
    <value>1550644</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21400</Sole>
      <Shared>21400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Moody's Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>615369105</cusip>
    <figi>BBG000F86GP6</figi>
    <value>2202626</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5049</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5049</Sole>
      <Shared>5049</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Moody's Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>615369105</cusip>
    <figi>BBG000F86GP6</figi>
    <value>654375</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1500</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Moog Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>615394202</cusip>
    <figi>BBG000BP7RH6</figi>
    <value>22567519</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77117</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>77117</Sole>
      <Shared>77117</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MoonLake Immunotherapeutics - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>61559X104</cusip>
    <figi>BBG00XQZQTS9</figi>
    <value>1147795</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61577</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>61577</Sole>
      <Shared>61577</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>MoonLake Immunotherapeutics - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>61559X104</cusip>
    <figi>BBG00XQZQTS9</figi>
    <value>287056</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15400</Sole>
      <Shared>15400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Morgan Stanley - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>617446448</cusip>
    <figi>BBG000BLZRJ2</figi>
    <value>25655805</value>
    <shrsOrPrnAmt>
      <sshPrnamt>155896</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>155896</Sole>
      <Shared>155896</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Morgan Stanley - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>617446448</cusip>
    <figi>BBG000BLZRJ2</figi>
    <value>4525675</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27500</Sole>
      <Shared>27500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Morningstar Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>617700109</cusip>
    <figi>BBG000CGQ4F7</figi>
    <value>6762000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40000</Sole>
      <Shared>40000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mosaic Co/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>61945C103</cusip>
    <figi>BBG000BFXHL6</figi>
    <value>2271999</value>
    <shrsOrPrnAmt>
      <sshPrnamt>89098</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>89098</Sole>
      <Shared>89098</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mosaic Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>61945C103</cusip>
    <figi>BBG000BFXHL6</figi>
    <value>4760850</value>
    <shrsOrPrnAmt>
      <sshPrnamt>186700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>186700</Sole>
      <Shared>186700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mosaic Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>61945C103</cusip>
    <figi>BBG000BFXHL6</figi>
    <value>2218500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>87000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>87000</Sole>
      <Shared>87000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Motorola Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>620076307</cusip>
    <figi>BBG000BP8Z50</figi>
    <value>4708575</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10850</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10850</Sole>
      <Shared>10850</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Motorola Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>620076307</cusip>
    <figi>BBG000BP8Z50</figi>
    <value>303779</value>
    <shrsOrPrnAmt>
      <sshPrnamt>700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>700</Sole>
      <Shared>700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Motorola Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>620076307</cusip>
    <figi>BBG000BP8Z50</figi>
    <value>824543</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1900</Sole>
      <Shared>1900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mountain Lake Acquisition Corp II. - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G6301L125</cusip>
    <figi>BBG01YT5N6D8</figi>
    <value>2979000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>300000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>300000</Sole>
      <Shared>300000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mp Materials Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>553368101</cusip>
    <figi>BBG00TJGL0F0</figi>
    <value>661162</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13700</Sole>
      <Shared>13700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mp Materials Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>553368101</cusip>
    <figi>BBG00TJGL0F0</figi>
    <value>3522980</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>73000</Sole>
      <Shared>73000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Msa Safety Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>553498106</cusip>
    <figi>BBG000BPDXF8</figi>
    <value>441189</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2691</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2691</Sole>
      <Shared>2691</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Msci Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>55354G100</cusip>
    <figi>BBG000RTDY25</figi>
    <value>1804605</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3348</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3348</Sole>
      <Shared>3348</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mueller Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>624756102</cusip>
    <figi>BBG000C6W444</figi>
    <value>352012</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3177</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3177</Sole>
      <Shared>3177</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mueller Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>624756102</cusip>
    <figi>BBG000C6W444</figi>
    <value>221600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2000</Sole>
      <Shared>2000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Mueller Water Products Inc - US Series A</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>624758108</cusip>
    <figi>BBG000JBC9M7</figi>
    <value>4275630</value>
    <shrsOrPrnAmt>
      <sshPrnamt>155534</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>155534</Sole>
      <Shared>155534</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Murphy Oil Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>626717102</cusip>
    <figi>BBG000BPMH90</figi>
    <value>1043625</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25300</Sole>
      <Shared>25300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Murphy Oil Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>626717102</cusip>
    <figi>BBG000BPMH90</figi>
    <value>1621125</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39300</Sole>
      <Shared>39300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Myers Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>628464109</cusip>
    <figi>BBG000BPQ0F6</figi>
    <value>1995643</value>
    <shrsOrPrnAmt>
      <sshPrnamt>94223</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>94223</Sole>
      <Shared>94223</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Myriad Genetics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>62855J104</cusip>
    <figi>BBG000D9H9F1</figi>
    <value>204840</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45520</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45520</Sole>
      <Shared>45520</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nabors Industries Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G6359F137</cusip>
    <figi>BBG000BZTW70</figi>
    <value>400265</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4651</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4651</Sole>
      <Shared>4651</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NANO Nuclear Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>63010H108</cusip>
    <figi>BBG01F7QNWC1</figi>
    <value>2515087</value>
    <shrsOrPrnAmt>
      <sshPrnamt>122807</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>122807</Sole>
      <Shared>122807</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nasdaq Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>631103108</cusip>
    <figi>BBG000F5VVB6</figi>
    <value>263159</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3100</Sole>
      <Shared>3100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nasdaq Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>631103108</cusip>
    <figi>BBG000F5VVB6</figi>
    <value>1358240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16000</Sole>
      <Shared>16000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Natera Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>632307104</cusip>
    <figi>BBG001J1BQ86</figi>
    <value>30137093</value>
    <shrsOrPrnAmt>
      <sshPrnamt>150693</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>150693</Sole>
      <Shared>150693</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Natera Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>632307104</cusip>
    <figi>BBG001J1BQ86</figi>
    <value>219989</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1100</Sole>
      <Shared>1100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nathan's Famous Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>632347100</cusip>
    <figi>BBG000B9ZJN2</figi>
    <value>2121475</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21061</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21061</Sole>
      <Shared>21061</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>National Energy Services Reunited Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G6375R107</cusip>
    <figi>BBG00GNGGRJ6</figi>
    <value>2844260</value>
    <shrsOrPrnAmt>
      <sshPrnamt>132476</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>132476</Sole>
      <Shared>132476</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>National Grid Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>636274409</cusip>
    <figi>BBG000L4Y5K6</figi>
    <value>236880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2800</Sole>
      <Shared>2800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>National Health Investors Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>63633D104</cusip>
    <figi>BBG000CGWSJ3</figi>
    <value>2121120</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26232</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26232</Sole>
      <Shared>26232</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>National Storage Affiliates Trust - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>637870106</cusip>
    <figi>BBG008417VN4</figi>
    <value>13839560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>366708</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>366708</Sole>
      <Shared>366708</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Natwest Group Plc - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>639057207</cusip>
    <figi>BBG000GNNNC2</figi>
    <value>4123381</value>
    <shrsOrPrnAmt>
      <sshPrnamt>276737</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>276737</Sole>
      <Shared>276737</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Navan Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>639193101</cusip>
    <figi>BBG00FVNPLX1</figi>
    <value>3024413</value>
    <shrsOrPrnAmt>
      <sshPrnamt>228430</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>228430</Sole>
      <Shared>228430</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Navient Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>63938C108</cusip>
    <figi>BBG004MN1R41</figi>
    <value>4429216</value>
    <shrsOrPrnAmt>
      <sshPrnamt>541469</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>541469</Sole>
      <Shared>541469</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Navient Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>63938C108</cusip>
    <figi>BBG004MN1R41</figi>
    <value>102250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12500</Sole>
      <Shared>12500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Navigator Holdings Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>Y62132108</cusip>
    <figi>BBG000R9BLC8</figi>
    <value>580306</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30021</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30021</Sole>
      <Shared>30021</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nbt Bancorp Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>628778102</cusip>
    <figi>BBG000CJN801</figi>
    <value>1193390</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28027</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28027</Sole>
      <Shared>28027</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>nCino Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>63947X101</cusip>
    <figi>BBG014GJ8XH2</figi>
    <value>5158872</value>
    <shrsOrPrnAmt>
      <sshPrnamt>344384</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>344384</Sole>
      <Shared>344384</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nebius Group NV - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N97284108</cusip>
    <figi>BBG001NVJ6W4</figi>
    <value>3891000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37500</Sole>
      <Shared>37500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nebius Group NV - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N97284108</cusip>
    <figi>BBG001NVJ6W4</figi>
    <value>1037600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10000</Sole>
      <Shared>10000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nektar Therapeutics - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>640268306</cusip>
    <figi>BBG000BHCYJ1</figi>
    <value>1078099</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14984</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14984</Sole>
      <Shared>14984</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nektar Therapeutics - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>640268306</cusip>
    <figi>BBG000BHCYJ1</figi>
    <value>294995</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4100</Sole>
      <Shared>4100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nektar Therapeutics - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>640268306</cusip>
    <figi>BBG000BHCYJ1</figi>
    <value>410115</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5700</Sole>
      <Shared>5700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Neogen Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>640491106</cusip>
    <figi>BBG000C1BCK2</figi>
    <value>2190034</value>
    <shrsOrPrnAmt>
      <sshPrnamt>235741</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>235741</Sole>
      <Shared>235741</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Neogenomics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>64049M209</cusip>
    <figi>BBG000BKH263</figi>
    <value>132224</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17820</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17820</Sole>
      <Shared>17820</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Neogenomics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>64049M209</cusip>
    <figi>BBG000BKH263</figi>
    <value>267120</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36000</Sole>
      <Shared>36000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NET Power Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>64107A105</cusip>
    <figi>BBG00ZMY0GQ9</figi>
    <value>672599</value>
    <shrsOrPrnAmt>
      <sshPrnamt>431153</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>431153</Sole>
      <Shared>431153</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Netease Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>64110W102</cusip>
    <figi>BBG000BX72V8</figi>
    <value>5014912</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44800</Sole>
      <Shared>44800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Netease Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>64110W102</cusip>
    <figi>BBG000BX72V8</figi>
    <value>3302230</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29500</Sole>
      <Shared>29500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Netflix Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>64110L106</cusip>
    <figi>BBG000CL9VN6</figi>
    <value>19230000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>200000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>200000</Sole>
      <Shared>200000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Netflix Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>64110L106</cusip>
    <figi>BBG000CL9VN6</figi>
    <value>101495940</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1055600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1055600</Sole>
      <Shared>1055600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Netflix Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>64110L106</cusip>
    <figi>BBG000CL9VN6</figi>
    <value>146503755</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1523700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1523700</Sole>
      <Shared>1523700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Netskope Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>64119N608</cusip>
    <figi>BBG005CY8T44</figi>
    <value>7158276</value>
    <shrsOrPrnAmt>
      <sshPrnamt>843142</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>843142</Sole>
      <Shared>843142</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Netstreit Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>64119V303</cusip>
    <figi>BBG00W5FQPV2</figi>
    <value>7719923</value>
    <shrsOrPrnAmt>
      <sshPrnamt>409980</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>409980</Sole>
      <Shared>409980</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Neumora Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>640979100</cusip>
    <figi>BBG012W9C4X1</figi>
    <value>1504265</value>
    <shrsOrPrnAmt>
      <sshPrnamt>771418</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>771418</Sole>
      <Shared>771418</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Neumora Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>640979100</cusip>
    <figi>BBG012W9C4X1</figi>
    <value>1082640</value>
    <shrsOrPrnAmt>
      <sshPrnamt>555200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>555200</Sole>
      <Shared>555200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Neuropace Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>641288105</cusip>
    <figi>BBG001KWZD52</figi>
    <value>1784521</value>
    <shrsOrPrnAmt>
      <sshPrnamt>135705</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>135705</Sole>
      <Shared>135705</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>New Era Energy &amp; Digital Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>64428N109</cusip>
    <figi>BBG01R5ZNMG5</figi>
    <value>81200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20000</Sole>
      <Shared>20000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>New Era Energy &amp; Digital Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>64428N109</cusip>
    <figi>BBG01R5ZNMG5</figi>
    <value>142100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35000</Sole>
      <Shared>35000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>New Fortress Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>644393100</cusip>
    <figi>BBG00MJH9LC4</figi>
    <value>14345</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24313</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24313</Sole>
      <Shared>24313</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>New Linde Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G54950103</cusip>
    <figi>BBG01FND0CC1</figi>
    <value>9964776</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20100</Sole>
      <Shared>20100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>New Oriental Education &amp; Technology Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>647581206</cusip>
    <figi>BBG000PTRRM5</figi>
    <value>1155252</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20400</Sole>
      <Shared>20400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Newell Brands Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>651229106</cusip>
    <figi>BBG000BQC9V2</figi>
    <value>65074</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18972</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18972</Sole>
      <Shared>18972</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Newmark Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>65158N102</cusip>
    <figi>BBG00J24S765</figi>
    <value>3656840</value>
    <shrsOrPrnAmt>
      <sshPrnamt>243952</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>243952</Sole>
      <Shared>243952</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Newmont Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>651639106</cusip>
    <figi>BBG000BPWXK1</figi>
    <value>51456205</value>
    <shrsOrPrnAmt>
      <sshPrnamt>475346</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>475346</Sole>
      <Shared>475346</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Newmont Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>651639106</cusip>
    <figi>BBG000BPWXK1</figi>
    <value>3041825</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28100</Sole>
      <Shared>28100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Newmont Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>651639106</cusip>
    <figi>BBG000BPWXK1</figi>
    <value>35462700</value>
    <shrsOrPrnAmt>
      <sshPrnamt>327600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>327600</Sole>
      <Shared>327600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>News Corp/new-cl A</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>65249B109</cusip>
    <figi>BBG0035LY913</figi>
    <value>6222254</value>
    <shrsOrPrnAmt>
      <sshPrnamt>249589</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>249589</Sole>
      <Shared>249589</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Newsmax Inc - US Class B</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>65250K105</cusip>
    <figi>BBG01SSNDV21</figi>
    <value>191162</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36621</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36621</Sole>
      <Shared>36621</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NewtekOne Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>652526203</cusip>
    <figi>BBG000BH37H2</figi>
    <value>966578</value>
    <shrsOrPrnAmt>
      <sshPrnamt>88272</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>88272</Sole>
      <Shared>88272</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nexa Resources Sa - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>L67359106</cusip>
    <figi>BBG00HT47FH3</figi>
    <value>1447515</value>
    <shrsOrPrnAmt>
      <sshPrnamt>136687</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>136687</Sole>
      <Shared>136687</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NexGen Energy Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>65340P106</cusip>
    <figi>BBG004WG63P0</figi>
    <value>368880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31800</Sole>
      <Shared>31800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nexpoint Residential Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>65341D102</cusip>
    <figi>BBG0077Q6QJ5</figi>
    <value>309550</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12382</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12382</Sole>
      <Shared>12382</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nextdecade Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>65342K105</cusip>
    <figi>BBG008GC7VW7</figi>
    <value>8439842</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1101807</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1101807</Sole>
      <Shared>1101807</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nextdecade Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>65342K105</cusip>
    <figi>BBG008GC7VW7</figi>
    <value>1106870</value>
    <shrsOrPrnAmt>
      <sshPrnamt>144500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>144500</Sole>
      <Shared>144500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nextdecade Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>65342K105</cusip>
    <figi>BBG008GC7VW7</figi>
    <value>919200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>120000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>120000</Sole>
      <Shared>120000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nextdoor Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>65345M108</cusip>
    <figi>BBG00Z8MSWR5</figi>
    <value>3589074</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2563624</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2563624</Sole>
      <Shared>2563624</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nextera Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>65339F101</cusip>
    <figi>BBG000BJSBJ0</figi>
    <value>2210544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23800</Sole>
      <Shared>23800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nextera Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>65339F101</cusip>
    <figi>BBG000BJSBJ0</figi>
    <value>17099208</value>
    <shrsOrPrnAmt>
      <sshPrnamt>184100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>184100</Sole>
      <Shared>184100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nextnav Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>65345N106</cusip>
    <figi>BBG017XG00X4</figi>
    <value>3090915</value>
    <shrsOrPrnAmt>
      <sshPrnamt>192941</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>192941</Sole>
      <Shared>192941</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nextnav Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>65345N106</cusip>
    <figi>BBG017XG00X4</figi>
    <value>677646</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42300</Sole>
      <Shared>42300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nextpower Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>65290E101</cusip>
    <figi>BBG00835TPZ2</figi>
    <value>1422490</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11800</Sole>
      <Shared>11800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nextpower Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>65290E101</cusip>
    <figi>BBG00835TPZ2</figi>
    <value>9053305</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>75100</Sole>
      <Shared>75100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nice Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>653656108</cusip>
    <figi>BBG000KC17R4</figi>
    <value>944597</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8567</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8567</Sole>
      <Shared>8567</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nice Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>653656108</cusip>
    <figi>BBG000KC17R4</figi>
    <value>2833682</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25700</Sole>
      <Shared>25700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nice Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>653656108</cusip>
    <figi>BBG000KC17R4</figi>
    <value>6891250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>62500</Sole>
      <Shared>62500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nike Inc - US Class B</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>654106103</cusip>
    <figi>BBG000C5HS04</figi>
    <value>7833206</value>
    <shrsOrPrnAmt>
      <sshPrnamt>148300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>148300</Sole>
      <Shared>148300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nike Inc - US Class B</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>654106103</cusip>
    <figi>BBG000C5HS04</figi>
    <value>32632196</value>
    <shrsOrPrnAmt>
      <sshPrnamt>617800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>617800</Sole>
      <Shared>617800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nio Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>62914V106</cusip>
    <figi>BBG00LPXZB46</figi>
    <value>9074547</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1504900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1504900</Sole>
      <Shared>1504900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nio Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>62914V106</cusip>
    <figi>BBG00LPXZB46</figi>
    <value>2313108</value>
    <shrsOrPrnAmt>
      <sshPrnamt>383600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>383600</Sole>
      <Shared>383600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NioCorp Developments Ltd</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>654484609</cusip>
    <figi>BBG000JXM902</figi>
    <value>64135</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14380</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14380</Sole>
      <Shared>14380</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nisource Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>65473P105</cusip>
    <figi>BBG000BPZBB6</figi>
    <value>2129936</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45648</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45648</Sole>
      <Shared>45648</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nlight Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>65487K100</cusip>
    <figi>BBG0020BCPX5</figi>
    <value>1733408</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30400</Sole>
      <Shared>30400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nlight Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>65487K100</cusip>
    <figi>BBG0020BCPX5</figi>
    <value>518882</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9100</Sole>
      <Shared>9100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nmi Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>629209305</cusip>
    <figi>BBG005DLMMZ6</figi>
    <value>13760694</value>
    <shrsOrPrnAmt>
      <sshPrnamt>366854</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>366854</Sole>
      <Shared>366854</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nnn Reit Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>637417106</cusip>
    <figi>BBG000CLP0Y4</figi>
    <value>1253166</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29816</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29816</Sole>
      <Shared>29816</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Noble Corp Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G65431127</cusip>
    <figi>BBG018KBK3G8</figi>
    <value>348397</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7100</Sole>
      <Shared>7100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nokia Oyj - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>654902204</cusip>
    <figi>BBG000BNGBW9</figi>
    <value>463586</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57660</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57660</Sole>
      <Shared>57660</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nokia Oyj - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>654902204</cusip>
    <figi>BBG000BNGBW9</figi>
    <value>226728</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28200</Sole>
      <Shared>28200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nomad Foods Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G6564A105</cusip>
    <figi>BBG0071GM7Y0</figi>
    <value>176401</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18356</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18356</Sole>
      <Shared>18356</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nordic American Tankers Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G65773106</cusip>
    <figi>BBG000JK57G6</figi>
    <value>9345364</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1594772</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1594772</Sole>
      <Shared>1594772</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nordson Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>655663102</cusip>
    <figi>BBG000BPWGR1</figi>
    <value>408934</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1537</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1537</Sole>
      <Shared>1537</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Norfolk Southern Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>655844108</cusip>
    <figi>BBG000BQ5DS5</figi>
    <value>181290725</value>
    <shrsOrPrnAmt>
      <sshPrnamt>631675</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>631675</Sole>
      <Shared>631675</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Northern Dynasty Minerals Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>66510M204</cusip>
    <figi>BBG000BWM9L9</figi>
    <value>82460</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58900</Sole>
      <Shared>58900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Northern Dynasty Minerals Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>66510M204</cusip>
    <figi>BBG000BWM9L9</figi>
    <value>307300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>219500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>219500</Sole>
      <Shared>219500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Northern Oil And Gas Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>665531307</cusip>
    <figi>BBG000DRTDR6</figi>
    <value>6772182</value>
    <shrsOrPrnAmt>
      <sshPrnamt>231686</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>231686</Sole>
      <Shared>231686</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Northern Oil And Gas Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>665531307</cusip>
    <figi>BBG000DRTDR6</figi>
    <value>309838</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10600</Sole>
      <Shared>10600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Northern Oil And Gas Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>665531307</cusip>
    <figi>BBG000DRTDR6</figi>
    <value>461834</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15800</Sole>
      <Shared>15800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Northfield Bancorp Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>66611T108</cusip>
    <figi>BBG000TW5Y34</figi>
    <value>189018</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13960</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13960</Sole>
      <Shared>13960</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Northrim Bancorp Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>666762109</cusip>
    <figi>BBG000C5QMH9</figi>
    <value>1315897</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57513</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57513</Sole>
      <Shared>57513</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Northrop Grumman Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>666807102</cusip>
    <figi>BBG000BQ2C28</figi>
    <value>23744681</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34804</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34804</Sole>
      <Shared>34804</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Northrop Grumman Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>666807102</cusip>
    <figi>BBG000BQ2C28</figi>
    <value>682240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1000</Sole>
      <Shared>1000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Northrop Grumman Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>666807102</cusip>
    <figi>BBG000BQ2C28</figi>
    <value>1910272</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2800</Sole>
      <Shared>2800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Northwestern Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>668074305</cusip>
    <figi>BBG000Q1NMJ4</figi>
    <value>4232491</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64187</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>64187</Sole>
      <Shared>64187</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Norwegian Cruise Line Holdings Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G66721104</cusip>
    <figi>BBG000BSRN78</figi>
    <value>21225603</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1135059</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1135059</Sole>
      <Shared>1135059</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Norwegian Cruise Line Holdings Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G66721104</cusip>
    <figi>BBG000BSRN78</figi>
    <value>658240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35200</Sole>
      <Shared>35200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nov Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>62955J103</cusip>
    <figi>BBG000BJX8C8</figi>
    <value>2294444</value>
    <shrsOrPrnAmt>
      <sshPrnamt>121980</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>121980</Sole>
      <Shared>121980</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nov Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>62955J103</cusip>
    <figi>BBG000BJX8C8</figi>
    <value>189981</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10100</Sole>
      <Shared>10100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Novagold Resources Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>66987E206</cusip>
    <figi>BBG000D25424</figi>
    <value>5576957</value>
    <shrsOrPrnAmt>
      <sshPrnamt>621042</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>621042</Sole>
      <Shared>621042</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Novanta Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Preferred Equity</titleOfClass>
    <cusip>67000B203</cusip>
    <figi>BBG01YFVPTD4</figi>
    <value>10722000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>200000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>200000</Sole>
      <Shared>200000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Novartis Ag - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>66987V109</cusip>
    <figi>BBG000LYF3S8</figi>
    <value>9661438</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>63250</Sole>
      <Shared>63250</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Novartis Ag - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>66987V109</cusip>
    <figi>BBG000LYF3S8</figi>
    <value>5667025</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37100</Sole>
      <Shared>37100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Novartis Ag - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>66987V109</cusip>
    <figi>BBG000LYF3S8</figi>
    <value>12831000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>84000</Sole>
      <Shared>84000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Novavax Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>670002401</cusip>
    <figi>BBG000NVSBL7</figi>
    <value>1048912</value>
    <shrsOrPrnAmt>
      <sshPrnamt>128859</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>128859</Sole>
      <Shared>128859</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Novo Nordisk A/S - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>670100205</cusip>
    <figi>BBG000BQBKR3</figi>
    <value>16192675</value>
    <shrsOrPrnAmt>
      <sshPrnamt>440617</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>440617</Sole>
      <Shared>440617</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Novo Nordisk A/S - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>670100205</cusip>
    <figi>BBG000BQBKR3</figi>
    <value>13476225</value>
    <shrsOrPrnAmt>
      <sshPrnamt>366700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>366700</Sole>
      <Shared>366700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Novo Nordisk A/S - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>670100205</cusip>
    <figi>BBG000BQBKR3</figi>
    <value>37889250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1031000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1031000</Sole>
      <Shared>1031000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Novocure Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G6674U108</cusip>
    <figi>BBG009XW8PY2</figi>
    <value>2428618</value>
    <shrsOrPrnAmt>
      <sshPrnamt>222809</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>222809</Sole>
      <Shared>222809</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nrg Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>629377508</cusip>
    <figi>BBG000D8RG11</figi>
    <value>701472</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4800</Sole>
      <Shared>4800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nrg Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>629377508</cusip>
    <figi>BBG000D8RG11</figi>
    <value>1490628</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10200</Sole>
      <Shared>10200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NU Holdings Ltd/Cayman Islands - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G6683N103</cusip>
    <figi>BBG0136WM1M4</figi>
    <value>3189853</value>
    <shrsOrPrnAmt>
      <sshPrnamt>221980</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>221980</Sole>
      <Shared>221980</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NU Holdings Ltd/Cayman Islands - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G6683N103</cusip>
    <figi>BBG0136WM1M4</figi>
    <value>870822</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60600</Sole>
      <Shared>60600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NU Holdings Ltd/Cayman Islands - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G6683N103</cusip>
    <figi>BBG0136WM1M4</figi>
    <value>7479585</value>
    <shrsOrPrnAmt>
      <sshPrnamt>520500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>520500</Sole>
      <Shared>520500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nucor Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>670346105</cusip>
    <figi>BBG000BQ8KV2</figi>
    <value>270560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1600</Sole>
      <Shared>1600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nucor Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>670346105</cusip>
    <figi>BBG000BQ8KV2</figi>
    <value>2756330</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16300</Sole>
      <Shared>16300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NuScale Power Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>67079K100</cusip>
    <figi>BBG00YG48NM6</figi>
    <value>10673942</value>
    <shrsOrPrnAmt>
      <sshPrnamt>984681</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>984681</Sole>
      <Shared>984681</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NuScale Power Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>67079K100</cusip>
    <figi>BBG00YG48NM6</figi>
    <value>880208</value>
    <shrsOrPrnAmt>
      <sshPrnamt>81200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>81200</Sole>
      <Shared>81200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>NuScale Power Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>67079K100</cusip>
    <figi>BBG00YG48NM6</figi>
    <value>2899700</value>
    <shrsOrPrnAmt>
      <sshPrnamt>267500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>267500</Sole>
      <Shared>267500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nutanix Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>67059N108</cusip>
    <figi>BBG001NDW1Z7</figi>
    <value>1406370</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37000</Sole>
      <Shared>37000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nutanix Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>67059N108</cusip>
    <figi>BBG001NDW1Z7</figi>
    <value>3360084</value>
    <shrsOrPrnAmt>
      <sshPrnamt>88400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>88400</Sole>
      <Shared>88400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nutanix Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>67059NAK4</cusip>
    <figi>BBG01R78GZQ1</figi>
    <value>58346700</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64500000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>64500000</Sole>
      <Shared>64500000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nutrien Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>67077M108</cusip>
    <figi>BBG00JM9XLN6</figi>
    <value>17134400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>227066</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>227066</Sole>
      <Shared>227066</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nutrien Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>67077M108</cusip>
    <figi>BBG00JM9XLN6</figi>
    <value>4708704</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>62400</Sole>
      <Shared>62400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nutrien Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>67077M108</cusip>
    <figi>BBG00JM9XLN6</figi>
    <value>3018400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40000</Sole>
      <Shared>40000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nuvalent Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>670703107</cusip>
    <figi>BBG00Z1SLMK5</figi>
    <value>425168</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4150</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4150</Sole>
      <Shared>4150</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nuvation Bio Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>67080N101</cusip>
    <figi>BBG00VHJ0CC1</figi>
    <value>760445</value>
    <shrsOrPrnAmt>
      <sshPrnamt>177260</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>177260</Sole>
      <Shared>177260</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nvent Electric Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G6700G107</cusip>
    <figi>BBG00GNT7999</figi>
    <value>816132</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6900</Sole>
      <Shared>6900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nvent Electric Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G6700G107</cusip>
    <figi>BBG00GNT7999</figi>
    <value>816132</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6900</Sole>
      <Shared>6900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nvidia Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>67066G104</cusip>
    <figi>BBG000BBJQV0</figi>
    <value>171711275</value>
    <shrsOrPrnAmt>
      <sshPrnamt>984583</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>984583</Sole>
      <Shared>984583</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nvidia Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>67066G104</cusip>
    <figi>BBG000BBJQV0</figi>
    <value>278987680</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1599700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1599700</Sole>
      <Shared>1599700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nvidia Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>67066G104</cusip>
    <figi>BBG000BBJQV0</figi>
    <value>684903680</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3927200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3927200</Sole>
      <Shared>3927200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nxp Semiconductors Nv - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N6596X109</cusip>
    <figi>BBG000BND699</figi>
    <value>748068</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3800</Sole>
      <Shared>3800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Nxp Semiconductors Nv - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N6596X109</cusip>
    <figi>BBG000BND699</figi>
    <value>1692996</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8600</Sole>
      <Shared>8600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Obsidian Energy Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>674482203</cusip>
    <figi>BBG000C0NG31</figi>
    <value>261580</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27622</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27622</Sole>
      <Shared>27622</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Occidental Petroleum Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>674599105</cusip>
    <figi>BBG000BQQ2S6</figi>
    <value>6150755</value>
    <shrsOrPrnAmt>
      <sshPrnamt>94627</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>94627</Sole>
      <Shared>94627</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Occidental Petroleum Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>674599105</cusip>
    <figi>BBG000BQQ2S6</figi>
    <value>5583500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>85900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>85900</Sole>
      <Shared>85900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Occidental Petroleum Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>674599105</cusip>
    <figi>BBG000BQQ2S6</figi>
    <value>48899500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>752300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>752300</Sole>
      <Shared>752300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oceanfirst Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>675234108</cusip>
    <figi>BBG000GYLFT9</figi>
    <value>215524</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11947</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11947</Sole>
      <Shared>11947</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Octave Specialty Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>023139884</cusip>
    <figi>BBG004HQHKK0</figi>
    <value>743828</value>
    <shrsOrPrnAmt>
      <sshPrnamt>159963</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>159963</Sole>
      <Shared>159963</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ocular Therapeutix Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>67576A100</cusip>
    <figi>BBG001J1BZV0</figi>
    <value>5203782</value>
    <shrsOrPrnAmt>
      <sshPrnamt>614378</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>614378</Sole>
      <Shared>614378</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ocular Therapeutix Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>67576A100</cusip>
    <figi>BBG001J1BZV0</figi>
    <value>4362897</value>
    <shrsOrPrnAmt>
      <sshPrnamt>515100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>515100</Sole>
      <Shared>515100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ocular Therapeutix Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>67576A100</cusip>
    <figi>BBG001J1BZV0</figi>
    <value>3616690</value>
    <shrsOrPrnAmt>
      <sshPrnamt>427000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>427000</Sole>
      <Shared>427000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oculis Holding AG - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>H5870P102</cusip>
    <figi>BBG01BJ1BHZ3</figi>
    <value>768291</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28894</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28894</Sole>
      <Shared>28894</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oddity Tech Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>M7518J104</cusip>
    <figi>BBG01H5JVGM0</figi>
    <value>215900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16136</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16136</Sole>
      <Shared>16136</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oddity Tech Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M7518J104</cusip>
    <figi>BBG01H5JVGM0</figi>
    <value>382668</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28600</Sole>
      <Shared>28600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oddity Tech Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M7518J104</cusip>
    <figi>BBG01H5JVGM0</figi>
    <value>928572</value>
    <shrsOrPrnAmt>
      <sshPrnamt>69400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>69400</Sole>
      <Shared>69400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ofg Bancorp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>67103X102</cusip>
    <figi>BBG000F5VMF2</figi>
    <value>2310468</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57105</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57105</Sole>
      <Shared>57105</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oge Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>670837103</cusip>
    <figi>BBG000BQGLS5</figi>
    <value>1109315</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23130</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23130</Sole>
      <Shared>23130</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oil-Dri Corp Of America - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>677864100</cusip>
    <figi>BBG000D61MB9</figi>
    <value>3149249</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48383</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>48383</Sole>
      <Shared>48383</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oklo Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>02156V109</cusip>
    <figi>BBG0112CBLW3</figi>
    <value>9020371</value>
    <shrsOrPrnAmt>
      <sshPrnamt>181899</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>181899</Sole>
      <Shared>181899</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oklo Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>02156V109</cusip>
    <figi>BBG0112CBLW3</figi>
    <value>4949082</value>
    <shrsOrPrnAmt>
      <sshPrnamt>99800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>99800</Sole>
      <Shared>99800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oklo Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>02156V109</cusip>
    <figi>BBG0112CBLW3</figi>
    <value>2816712</value>
    <shrsOrPrnAmt>
      <sshPrnamt>56800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>56800</Sole>
      <Shared>56800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Okta Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>679295105</cusip>
    <figi>BBG001YV1SM4</figi>
    <value>5003910</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63574</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>63574</Sole>
      <Shared>63574</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Okta Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>679295105</cusip>
    <figi>BBG001YV1SM4</figi>
    <value>5124021</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>65100</Sole>
      <Shared>65100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Okta Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>679295105</cusip>
    <figi>BBG001YV1SM4</figi>
    <value>3526208</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44800</Sole>
      <Shared>44800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Olaplex Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>679369108</cusip>
    <figi>BBG012BV9SK0</figi>
    <value>462042</value>
    <shrsOrPrnAmt>
      <sshPrnamt>227607</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>227607</Sole>
      <Shared>227607</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Old Dominion Freight Line Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>679580100</cusip>
    <figi>BBG000CHSS88</figi>
    <value>2598820</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13300</Sole>
      <Shared>13300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Old Dominion Freight Line Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>679580100</cusip>
    <figi>BBG000CHSS88</figi>
    <value>1250560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6400</Sole>
      <Shared>6400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Old National Bancorp/In - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>680033107</cusip>
    <figi>BBG000KFW1C2</figi>
    <value>13597997</value>
    <shrsOrPrnAmt>
      <sshPrnamt>615294</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>615294</Sole>
      <Shared>615294</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Old Republic International Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>680223104</cusip>
    <figi>BBG000C4PLF7</figi>
    <value>301804</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7564</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7564</Sole>
      <Shared>7564</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Olin Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>680665205</cusip>
    <figi>BBG000BQHTV3</figi>
    <value>19637379</value>
    <shrsOrPrnAmt>
      <sshPrnamt>660524</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>660524</Sole>
      <Shared>660524</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Olin Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>680665205</cusip>
    <figi>BBG000BQHTV3</figi>
    <value>517302</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17400</Sole>
      <Shared>17400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Olin Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>680665205</cusip>
    <figi>BBG000BQHTV3</figi>
    <value>377571</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12700</Sole>
      <Shared>12700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ollie's Bargain Outlet Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>681116109</cusip>
    <figi>BBG0098VVDT9</figi>
    <value>7235172</value>
    <shrsOrPrnAmt>
      <sshPrnamt>78609</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>78609</Sole>
      <Shared>78609</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Omada Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68170A108</cusip>
    <figi>BBG005TP6Y82</figi>
    <value>4756966</value>
    <shrsOrPrnAmt>
      <sshPrnamt>378438</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>378438</Sole>
      <Shared>378438</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Omega Healthcare Investors Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>681936100</cusip>
    <figi>BBG000BGBTC2</figi>
    <value>9238220</value>
    <shrsOrPrnAmt>
      <sshPrnamt>210822</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>210822</Sole>
      <Shared>210822</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Omega Healthcare Investors Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>681936100</cusip>
    <figi>BBG000BGBTC2</figi>
    <value>1862350</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42500</Sole>
      <Shared>42500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Omega Healthcare Investors Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>681936100</cusip>
    <figi>BBG000BGBTC2</figi>
    <value>372470</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8500</Sole>
      <Shared>8500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Omnicom Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>681919106</cusip>
    <figi>BBG000BS9489</figi>
    <value>481984</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6400</Sole>
      <Shared>6400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Omnicom Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>681919106</cusip>
    <figi>BBG000BS9489</figi>
    <value>248523</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3300</Sole>
      <Shared>3300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>On Holding Ag - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>H5919C104</cusip>
    <figi>BBG00LQK89F6</figi>
    <value>16170454</value>
    <shrsOrPrnAmt>
      <sshPrnamt>475322</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>475322</Sole>
      <Shared>475322</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>On Holding Ag - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H5919C104</cusip>
    <figi>BBG00LQK89F6</figi>
    <value>6011334</value>
    <shrsOrPrnAmt>
      <sshPrnamt>176700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>176700</Sole>
      <Shared>176700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>On Holding Ag - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H5919C104</cusip>
    <figi>BBG00LQK89F6</figi>
    <value>2514078</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>73900</Sole>
      <Shared>73900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>On Semiconductor Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>682189105</cusip>
    <figi>BBG000DV7MX4</figi>
    <value>774000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12500</Sole>
      <Shared>12500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>On Semiconductor Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>682189105</cusip>
    <figi>BBG000DV7MX4</figi>
    <value>5870016</value>
    <shrsOrPrnAmt>
      <sshPrnamt>94800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>94800</Sole>
      <Shared>94800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>On Semiconductor Corp - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>682189AU9</cusip>
    <figi>BBG01FMYDM67</figi>
    <value>1467000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1500000</Sole>
      <Shared>1500000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ondas Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68236H204</cusip>
    <figi>BBG009HYYCD9</figi>
    <value>1576675</value>
    <shrsOrPrnAmt>
      <sshPrnamt>174411</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>174411</Sole>
      <Shared>174411</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ondas Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>68236H204</cusip>
    <figi>BBG009HYYCD9</figi>
    <value>196168</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21700</Sole>
      <Shared>21700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ondas Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>68236H204</cusip>
    <figi>BBG009HYYCD9</figi>
    <value>900384</value>
    <shrsOrPrnAmt>
      <sshPrnamt>99600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>99600</Sole>
      <Shared>99600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>One Gas Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68235P108</cusip>
    <figi>BBG004WQKD07</figi>
    <value>11162362</value>
    <shrsOrPrnAmt>
      <sshPrnamt>129599</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>129599</Sole>
      <Shared>129599</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Onemain Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68268W103</cusip>
    <figi>BBG005497GZ3</figi>
    <value>25581806</value>
    <shrsOrPrnAmt>
      <sshPrnamt>478254</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>478254</Sole>
      <Shared>478254</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Onemain Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>68268W103</cusip>
    <figi>BBG005497GZ3</figi>
    <value>331638</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6200</Sole>
      <Shared>6200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oneok Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>682680103</cusip>
    <figi>BBG000BQHGR6</figi>
    <value>3922926</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43400</Sole>
      <Shared>43400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oneok Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>682680103</cusip>
    <figi>BBG000BQHGR6</figi>
    <value>8776869</value>
    <shrsOrPrnAmt>
      <sshPrnamt>97100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>97100</Sole>
      <Shared>97100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Onterris Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>615111101</cusip>
    <figi>BBG005Q29TZ4</figi>
    <value>3692208</value>
    <shrsOrPrnAmt>
      <sshPrnamt>168671</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>168671</Sole>
      <Shared>168671</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Onto Innovation Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>683344105</cusip>
    <figi>BBG000BPRN29</figi>
    <value>16461789</value>
    <shrsOrPrnAmt>
      <sshPrnamt>80274</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>80274</Sole>
      <Shared>80274</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Onto Innovation Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>683344105</cusip>
    <figi>BBG000BPRN29</figi>
    <value>512675</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2500</Sole>
      <Shared>2500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Opendoor Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>683712103</cusip>
    <figi>BBG00SHY8ZQ1</figi>
    <value>2998963</value>
    <shrsOrPrnAmt>
      <sshPrnamt>640804</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>640804</Sole>
      <Shared>640804</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Opendoor Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>683712103</cusip>
    <figi>BBG00SHY8ZQ1</figi>
    <value>237744</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50800</Sole>
      <Shared>50800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Opendoor Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Warrant / Rights</titleOfClass>
    <cusip>683712137</cusip>
    <figi>BBG01YKH1ZM1</figi>
    <value>14299</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58128</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58128</Sole>
      <Shared>58128</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Opendoor Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Warrant / Rights</titleOfClass>
    <cusip>683712145</cusip>
    <figi>BBG01YKH1PQ9</figi>
    <value>13683</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58128</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58128</Sole>
      <Shared>58128</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Opendoor Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Warrant / Rights</titleOfClass>
    <cusip>683712129</cusip>
    <figi>BBG01YKH5T05</figi>
    <value>35144</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58128</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58128</Sole>
      <Shared>58128</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Opko Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68375N103</cusip>
    <figi>BBG000N49069</figi>
    <value>279096</value>
    <shrsOrPrnAmt>
      <sshPrnamt>244821</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>244821</Sole>
      <Shared>244821</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oppenheimer Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>683797104</cusip>
    <figi>BBG000F006R9</figi>
    <value>1127629</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12643</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12643</Sole>
      <Shared>12643</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oppfi Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68386H103</cusip>
    <figi>BBG00XV5D453</figi>
    <value>3756998</value>
    <shrsOrPrnAmt>
      <sshPrnamt>487289</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>487289</Sole>
      <Shared>487289</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>OR Royalties Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>68390D106</cusip>
    <figi>BBG006NTSJ78</figi>
    <value>441032</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11600</Sole>
      <Shared>11600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oracle Corp - US</nameOfIssuer>
    <titleOfClass>Convertible Preferred Equity</titleOfClass>
    <cusip>68389X204</cusip>
    <figi>BBG02008TRW3</figi>
    <value>4579000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100000</Sole>
      <Shared>100000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oracle Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>68389X105</cusip>
    <figi>BBG000BQLTW7</figi>
    <value>32481888</value>
    <shrsOrPrnAmt>
      <sshPrnamt>220800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>220800</Sole>
      <Shared>220800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oracle Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>68389X105</cusip>
    <figi>BBG000BQLTW7</figi>
    <value>51208991</value>
    <shrsOrPrnAmt>
      <sshPrnamt>348100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>348100</Sole>
      <Shared>348100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Orasure Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68554V108</cusip>
    <figi>BBG000J3D1Y8</figi>
    <value>338268</value>
    <shrsOrPrnAmt>
      <sshPrnamt>112756</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>112756</Sole>
      <Shared>112756</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>O'Reilly Automotive Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>67103H107</cusip>
    <figi>BBG000BGYWY6</figi>
    <value>65424620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>708749</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>708749</Sole>
      <Shared>708749</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>O'Reilly Automotive Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>67103H107</cusip>
    <figi>BBG000BGYWY6</figi>
    <value>295392</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3200</Sole>
      <Shared>3200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>O'Reilly Automotive Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>67103H107</cusip>
    <figi>BBG000BGYWY6</figi>
    <value>1052334</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11400</Sole>
      <Shared>11400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Organogenesis Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68621F102</cusip>
    <figi>BBG00FGGD295</figi>
    <value>150685</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63580</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>63580</Sole>
      <Shared>63580</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Organon &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68622V106</cusip>
    <figi>BBG00ZQRGW24</figi>
    <value>224805</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37530</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37530</Sole>
      <Shared>37530</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oric Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68622P109</cusip>
    <figi>BBG00BL5SLH5</figi>
    <value>426827</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33688</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33688</Sole>
      <Shared>33688</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Orla Mining Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68634K106</cusip>
    <figi>BBG00FZBZ5G6</figi>
    <value>4696217</value>
    <shrsOrPrnAmt>
      <sshPrnamt>291148</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>291148</Sole>
      <Shared>291148</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ormat Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>686688102</cusip>
    <figi>BBG000Q5BQ63</figi>
    <value>324568</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2900</Sole>
      <Shared>2900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Orrstown Financial Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>687380105</cusip>
    <figi>BBG000BRRN07</figi>
    <value>1059670</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29370</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29370</Sole>
      <Shared>29370</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Orthofix Medical Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68752M108</cusip>
    <figi>BBG000G1C210</figi>
    <value>3016312</value>
    <shrsOrPrnAmt>
      <sshPrnamt>262974</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>262974</Sole>
      <Shared>262974</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Orthopediatrics Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>68752L100</cusip>
    <figi>BBG00HFFRW39</figi>
    <value>2681760</value>
    <shrsOrPrnAmt>
      <sshPrnamt>168983</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>168983</Sole>
      <Shared>168983</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oscar Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>687793109</cusip>
    <figi>BBG00YMWFTZ2</figi>
    <value>19737507</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1720794</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1720794</Sole>
      <Shared>1720794</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oscar Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>687793109</cusip>
    <figi>BBG00YMWFTZ2</figi>
    <value>8471742</value>
    <shrsOrPrnAmt>
      <sshPrnamt>738600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>738600</Sole>
      <Shared>738600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oscar Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>687793109</cusip>
    <figi>BBG00YMWFTZ2</figi>
    <value>1990045</value>
    <shrsOrPrnAmt>
      <sshPrnamt>173500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>173500</Sole>
      <Shared>173500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oshkosh Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>688239201</cusip>
    <figi>BBG000CC53X1</figi>
    <value>279699</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1900</Sole>
      <Shared>1900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Otis Worldwide Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>68902V107</cusip>
    <figi>BBG00RP60KV0</figi>
    <value>300612</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3900</Sole>
      <Shared>3900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Otis Worldwide Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>68902V107</cusip>
    <figi>BBG00RP60KV0</figi>
    <value>801632</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10400</Sole>
      <Shared>10400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Otter Tail Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>689648103</cusip>
    <figi>BBG000BQNM78</figi>
    <value>7536459</value>
    <shrsOrPrnAmt>
      <sshPrnamt>85866</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>85866</Sole>
      <Shared>85866</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Outdoor Holding Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00175J107</cusip>
    <figi>BBG000BYZD23</figi>
    <value>101097</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50297</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50297</Sole>
      <Shared>50297</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ovintiv Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>69047Q102</cusip>
    <figi>BBG00R2NHQ65</figi>
    <value>1706778</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28753</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28753</Sole>
      <Shared>28753</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ovintiv Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>69047Q102</cusip>
    <figi>BBG00R2NHQ65</figi>
    <value>1121904</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18900</Sole>
      <Shared>18900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Owens Corning - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>690742101</cusip>
    <figi>BBG000M44VW8</figi>
    <value>454524</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4200</Sole>
      <Shared>4200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Owens Corning - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>690742101</cusip>
    <figi>BBG000M44VW8</figi>
    <value>486990</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4500</Sole>
      <Shared>4500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Oxford Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>691497309</cusip>
    <figi>BBG000BQPRQ4</figi>
    <value>2255723</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58575</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58575</Sole>
      <Shared>58575</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Paccar Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>693718108</cusip>
    <figi>BBG000BQVTF5</figi>
    <value>4602791</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39851</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39851</Sole>
      <Shared>39851</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Paccar Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>693718108</cusip>
    <figi>BBG000BQVTF5</figi>
    <value>288750</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2500</Sole>
      <Shared>2500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pacific Biosciences Of California Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>69404D108</cusip>
    <figi>BBG000QKXH20</figi>
    <value>903813</value>
    <shrsOrPrnAmt>
      <sshPrnamt>684707</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>684707</Sole>
      <Shared>684707</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Packaging Corp Of America - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>695156109</cusip>
    <figi>BBG000BB8SW7</figi>
    <value>1660409</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7824</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7824</Sole>
      <Shared>7824</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pagaya Technologies Ltd - A - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>M7S64L123</cusip>
    <figi>BBG00VJFX5J9</figi>
    <value>1067944</value>
    <shrsOrPrnAmt>
      <sshPrnamt>91669</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>91669</Sole>
      <Shared>91669</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pagaya Technologies Ltd - A - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M7S64L123</cusip>
    <figi>BBG00VJFX5J9</figi>
    <value>206205</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17700</Sole>
      <Shared>17700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pagaya Technologies Ltd - A - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M7S64L123</cusip>
    <figi>BBG00VJFX5J9</figi>
    <value>1710220</value>
    <shrsOrPrnAmt>
      <sshPrnamt>146800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>146800</Sole>
      <Shared>146800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pagseguro Digital Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G68707101</cusip>
    <figi>BBG00JM7QBR6</figi>
    <value>1314624</value>
    <shrsOrPrnAmt>
      <sshPrnamt>131200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>131200</Sole>
      <Shared>131200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Palantir Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>69608A108</cusip>
    <figi>BBG000N7QR55</figi>
    <value>33923356</value>
    <shrsOrPrnAmt>
      <sshPrnamt>231907</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>231907</Sole>
      <Shared>231907</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Palantir Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>69608A108</cusip>
    <figi>BBG000N7QR55</figi>
    <value>24311736</value>
    <shrsOrPrnAmt>
      <sshPrnamt>166200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>166200</Sole>
      <Shared>166200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Palantir Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>69608A108</cusip>
    <figi>BBG000N7QR55</figi>
    <value>72379344</value>
    <shrsOrPrnAmt>
      <sshPrnamt>494800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>494800</Sole>
      <Shared>494800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Palo Alto Networks Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>697435105</cusip>
    <figi>BBG0014GJCT9</figi>
    <value>27943776</value>
    <shrsOrPrnAmt>
      <sshPrnamt>174300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>174300</Sole>
      <Shared>174300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Palo Alto Networks Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>697435105</cusip>
    <figi>BBG0014GJCT9</figi>
    <value>33025920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>206000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>206000</Sole>
      <Shared>206000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pan American Silver Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>697900108</cusip>
    <figi>BBG000C0RGY3</figi>
    <value>6795153</value>
    <shrsOrPrnAmt>
      <sshPrnamt>124385</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>124385</Sole>
      <Shared>124385</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pan American Silver Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>697900108</cusip>
    <figi>BBG000C0RGY3</figi>
    <value>732042</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13400</Sole>
      <Shared>13400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pan American Silver Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>697900108</cusip>
    <figi>BBG000C0RGY3</figi>
    <value>15258159</value>
    <shrsOrPrnAmt>
      <sshPrnamt>279300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>279300</Sole>
      <Shared>279300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pangaea Logistics Solutions Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G6891L105</cusip>
    <figi>BBG005PTVFQ1</figi>
    <value>1380232</value>
    <shrsOrPrnAmt>
      <sshPrnamt>194948</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>194948</Sole>
      <Shared>194948</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Papa John's International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>698813102</cusip>
    <figi>BBG000BFWF13</figi>
    <value>2058035</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>63500</Sole>
      <Shared>63500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Papa John's International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>698813102</cusip>
    <figi>BBG000BFWF13</figi>
    <value>891275</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27500</Sole>
      <Shared>27500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Par Pacific Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>69888T207</cusip>
    <figi>BBG003C5DL16</figi>
    <value>4096656</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>65400</Sole>
      <Shared>65400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Par Pacific Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>69888T207</cusip>
    <figi>BBG003C5DL16</figi>
    <value>331992</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5300</Sole>
      <Shared>5300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Par Technology Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>698884103</cusip>
    <figi>BBG000BRP9K8</figi>
    <value>411897</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30900</Sole>
      <Shared>30900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Paramount Skydance Corp - US Class B</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>69932A204</cusip>
    <figi>BBG01VS5NK99</figi>
    <value>25613165</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2839597</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2839597</Sole>
      <Shared>2839597</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Paramount Skydance Corp - US Class B</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>69932A204</cusip>
    <figi>BBG01VS5NK99</figi>
    <value>359898</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39900</Sole>
      <Shared>39900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Paramount Skydance Corp - US Class B</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>69932A204</cusip>
    <figi>BBG01VS5NK99</figi>
    <value>14057670</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1558500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1558500</Sole>
      <Shared>1558500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Park National Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>700658107</cusip>
    <figi>BBG000DCV3T6</figi>
    <value>3791713</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23198</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23198</Sole>
      <Shared>23198</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Parker-Hannifin Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>701094104</cusip>
    <figi>BBG000BR3KL6</figi>
    <value>68382012</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76384</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>76384</Sole>
      <Shared>76384</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Parker-Hannifin Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>701094104</cusip>
    <figi>BBG000BR3KL6</figi>
    <value>447620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>500</Sole>
      <Shared>500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Parker-Hannifin Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>701094104</cusip>
    <figi>BBG000BR3KL6</figi>
    <value>716192</value>
    <shrsOrPrnAmt>
      <sshPrnamt>800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>800</Sole>
      <Shared>800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Parsons Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>70202L102</cusip>
    <figi>BBG000C3TKY6</figi>
    <value>238348</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4400</Sole>
      <Shared>4400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Parsons Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>70202L102</cusip>
    <figi>BBG000C3TKY6</figi>
    <value>270850</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5000</Sole>
      <Shared>5000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Patria Investments Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G69451105</cusip>
    <figi>BBG00YQ7XJT2</figi>
    <value>1161531</value>
    <shrsOrPrnAmt>
      <sshPrnamt>92185</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>92185</Sole>
      <Shared>92185</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Patrick Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>703343103</cusip>
    <figi>BBG000BQSBB2</figi>
    <value>638097</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5745</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5745</Sole>
      <Shared>5745</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pattern Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>70339W104</cusip>
    <figi>BBG01WX45CV7</figi>
    <value>3402439</value>
    <shrsOrPrnAmt>
      <sshPrnamt>273728</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>273728</Sole>
      <Shared>273728</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Patterson-Uti Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>703481101</cusip>
    <figi>BBG000BKXFN7</figi>
    <value>379050</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35000</Sole>
      <Shared>35000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Paychex Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>704326107</cusip>
    <figi>BBG000BQSQ38</figi>
    <value>819868</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8900</Sole>
      <Shared>8900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Paychex Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>704326107</cusip>
    <figi>BBG000BQSQ38</figi>
    <value>3500560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38000</Sole>
      <Shared>38000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Paycom Software Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>70432V102</cusip>
    <figi>BBG0064N0ZZ5</figi>
    <value>3950050</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32500</Sole>
      <Shared>32500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Paycom Software Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>70432V102</cusip>
    <figi>BBG0064N0ZZ5</figi>
    <value>2929114</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24100</Sole>
      <Shared>24100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Paylocity Holding Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>70438V106</cusip>
    <figi>BBG006598YS8</figi>
    <value>5379204</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49789</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49789</Sole>
      <Shared>49789</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Paymentus Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>70439P108</cusip>
    <figi>BBG010MW0N84</figi>
    <value>1162075</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45751</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45751</Sole>
      <Shared>45751</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Payoneer Global Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>70451X104</cusip>
    <figi>BBG00Z5JLLB3</figi>
    <value>74155</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15353</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15353</Sole>
      <Shared>15353</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Paypal Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>70450Y103</cusip>
    <figi>BBG0077VNXV6</figi>
    <value>5103798</value>
    <shrsOrPrnAmt>
      <sshPrnamt>112841</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>112841</Sole>
      <Shared>112841</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Paypal Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>70450Y103</cusip>
    <figi>BBG0077VNXV6</figi>
    <value>15925483</value>
    <shrsOrPrnAmt>
      <sshPrnamt>352100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>352100</Sole>
      <Shared>352100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Paypal Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>70450Y103</cusip>
    <figi>BBG0077VNXV6</figi>
    <value>58690448</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1297600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1297600</Sole>
      <Shared>1297600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pbf Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>69318G106</cusip>
    <figi>BBG002832GV8</figi>
    <value>34783410</value>
    <shrsOrPrnAmt>
      <sshPrnamt>730437</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>730437</Sole>
      <Shared>730437</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pbf Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>69318G106</cusip>
    <figi>BBG002832GV8</figi>
    <value>928590</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19500</Sole>
      <Shared>19500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PDD Holdings Inc - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>722304102</cusip>
    <figi>BBG00LBLDDR2</figi>
    <value>39377311</value>
    <shrsOrPrnAmt>
      <sshPrnamt>385372</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>385372</Sole>
      <Shared>385372</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PDD Holdings Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>722304102</cusip>
    <figi>BBG00LBLDDR2</figi>
    <value>17217330</value>
    <shrsOrPrnAmt>
      <sshPrnamt>168500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>168500</Sole>
      <Shared>168500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PDD Holdings Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>722304102</cusip>
    <figi>BBG00LBLDDR2</figi>
    <value>72394530</value>
    <shrsOrPrnAmt>
      <sshPrnamt>708500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>708500</Sole>
      <Shared>708500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Peabody Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>704551100</cusip>
    <figi>BBG00GBV88T6</figi>
    <value>8485053</value>
    <shrsOrPrnAmt>
      <sshPrnamt>257513</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>257513</Sole>
      <Shared>257513</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Peabody Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>704551100</cusip>
    <figi>BBG00GBV88T6</figi>
    <value>339385</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10300</Sole>
      <Shared>10300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Peabody Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>704551100</cusip>
    <figi>BBG00GBV88T6</figi>
    <value>859995</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26100</Sole>
      <Shared>26100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Peloton Interactive Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>70614W100</cusip>
    <figi>BBG00JG0FFZ2</figi>
    <value>3673999</value>
    <shrsOrPrnAmt>
      <sshPrnamt>856410</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>856410</Sole>
      <Shared>856410</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Peloton Interactive Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>70614W100</cusip>
    <figi>BBG00JG0FFZ2</figi>
    <value>426855</value>
    <shrsOrPrnAmt>
      <sshPrnamt>99500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>99500</Sole>
      <Shared>99500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Peloton Interactive Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>70614W100</cusip>
    <figi>BBG00JG0FFZ2</figi>
    <value>2080650</value>
    <shrsOrPrnAmt>
      <sshPrnamt>485000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>485000</Sole>
      <Shared>485000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Penn Entertainment Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>707569109</cusip>
    <figi>BBG000CDZLV8</figi>
    <value>4154217</value>
    <shrsOrPrnAmt>
      <sshPrnamt>276395</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>276395</Sole>
      <Shared>276395</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pennant Group Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>70805E109</cusip>
    <figi>BBG00P33SY72</figi>
    <value>321564</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10550</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10550</Sole>
      <Shared>10550</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pennantpark Investment Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>708062104</cusip>
    <figi>BBG000QVWX13</figi>
    <value>46754</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10413</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10413</Sole>
      <Shared>10413</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pennymac Financial Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>70932M107</cusip>
    <figi>BBG00LMYX123</figi>
    <value>270940</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3100</Sole>
      <Shared>3100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pennymac Financial Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>70932M107</cusip>
    <figi>BBG00LMYX123</figi>
    <value>533140</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6100</Sole>
      <Shared>6100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pennymac Mortgage Investment Trust - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>70931T103</cusip>
    <figi>BBG000DKDWS5</figi>
    <value>404392</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34682</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34682</Sole>
      <Shared>34682</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pentair Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G7S00T104</cusip>
    <figi>BBG000C221G9</figi>
    <value>20265619</value>
    <shrsOrPrnAmt>
      <sshPrnamt>232644</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>232644</Sole>
      <Shared>232644</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Penumbra Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>70975L107</cusip>
    <figi>BBG001BP92V1</figi>
    <value>134998818</value>
    <shrsOrPrnAmt>
      <sshPrnamt>411118</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>411118</Sole>
      <Shared>411118</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pepsico Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>713448108</cusip>
    <figi>BBG000DH7JK6</figi>
    <value>11491460</value>
    <shrsOrPrnAmt>
      <sshPrnamt>74000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>74000</Sole>
      <Shared>74000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pepsico Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>713448108</cusip>
    <figi>BBG000DH7JK6</figi>
    <value>20933092</value>
    <shrsOrPrnAmt>
      <sshPrnamt>134800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>134800</Sole>
      <Shared>134800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Perdoceo Education Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>71363P106</cusip>
    <figi>BBG000BDCQ25</figi>
    <value>1340639</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36029</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36029</Sole>
      <Shared>36029</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Performance Food Group Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>71377A103</cusip>
    <figi>BBG009XW2WB8</figi>
    <value>15774632</value>
    <shrsOrPrnAmt>
      <sshPrnamt>184154</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>184154</Sole>
      <Shared>184154</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Perimeter Solutions Inc</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>71385M107</cusip>
    <figi>BBG01QXPR7H6</figi>
    <value>1587398</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65004</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>65004</Sole>
      <Shared>65004</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Permian Resources Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>71424F105</cusip>
    <figi>BBG00CNYBQ76</figi>
    <value>456248</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21400</Sole>
      <Shared>21400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Perpetua Resources Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>714266103</cusip>
    <figi>BBG0024TXN82</figi>
    <value>258901</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9207</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9207</Sole>
      <Shared>9207</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Perpetua Resources Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>714266103</cusip>
    <figi>BBG0024TXN82</figi>
    <value>759240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27000</Sole>
      <Shared>27000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Personalis Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>71535D106</cusip>
    <figi>BBG0027NWBR8</figi>
    <value>1336592</value>
    <shrsOrPrnAmt>
      <sshPrnamt>209826</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>209826</Sole>
      <Shared>209826</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Perspective Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>46489V302</cusip>
    <figi>BBG000BG5HT7</figi>
    <value>141555</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33946</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33946</Sole>
      <Shared>33946</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Petroleo Brasileiro S.A. - ADR (NYSE)</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>71654V408</cusip>
    <figi>BBG000BS6FX9</figi>
    <value>1530022</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73736</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>73736</Sole>
      <Shared>73736</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Petroleo Brasileiro S.A. - ADR (NYSE)</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>71654V408</cusip>
    <figi>BBG000BS6FX9</figi>
    <value>381800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18400</Sole>
      <Shared>18400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Petroleo Brasileiro S.A. - ADR (NYSE)</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>71654V408</cusip>
    <figi>BBG000BS6FX9</figi>
    <value>2552250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>123000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>123000</Sole>
      <Shared>123000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pfizer Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>717081103</cusip>
    <figi>BBG000BR2B91</figi>
    <value>7685496</value>
    <shrsOrPrnAmt>
      <sshPrnamt>273700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>273700</Sole>
      <Shared>273700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pfizer Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>717081103</cusip>
    <figi>BBG000BR2B91</figi>
    <value>12798864</value>
    <shrsOrPrnAmt>
      <sshPrnamt>455800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>455800</Sole>
      <Shared>455800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pg&amp;E Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>69331C108</cusip>
    <figi>BBG000BQWPC5</figi>
    <value>78668392</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4477427</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4477427</Sole>
      <Shared>4477427</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pg&amp;E Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>69331C108</cusip>
    <figi>BBG000BQWPC5</figi>
    <value>753753</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42900</Sole>
      <Shared>42900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pharvaris Nv - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>N69605108</cusip>
    <figi>BBG00YYCW1N8</figi>
    <value>872982</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30902</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30902</Sole>
      <Shared>30902</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Phathom Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>71722W107</cusip>
    <figi>BBG00P5B2S19</figi>
    <value>424680</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38225</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38225</Sole>
      <Shared>38225</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Philip Morris International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>718172109</cusip>
    <figi>BBG000J2XL74</figi>
    <value>3174528</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19200</Sole>
      <Shared>19200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Philip Morris International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>718172109</cusip>
    <figi>BBG000J2XL74</figi>
    <value>5803434</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35100</Sole>
      <Shared>35100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Phillips 66 - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>718546104</cusip>
    <figi>BBG00286S4N9</figi>
    <value>1584966</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8700</Sole>
      <Shared>8700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Phillips 66 - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>718546104</cusip>
    <figi>BBG00286S4N9</figi>
    <value>5957286</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32700</Sole>
      <Shared>32700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Phinia Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>71880K101</cusip>
    <figi>BBG01F6N6NM7</figi>
    <value>1744467</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25489</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25489</Sole>
      <Shared>25489</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Photronics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>719405102</cusip>
    <figi>BBG000BR9JS6</figi>
    <value>210132</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5200</Sole>
      <Shared>5200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Phreesia Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>71944F106</cusip>
    <figi>BBG0019J4TP1</figi>
    <value>3604950</value>
    <shrsOrPrnAmt>
      <sshPrnamt>430185</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>430185</Sole>
      <Shared>430185</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pinnacle Financial Partners Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>72348N109</cusip>
    <figi>BBG01Z7V4LL1</figi>
    <value>10759144</value>
    <shrsOrPrnAmt>
      <sshPrnamt>124903</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>124903</Sole>
      <Shared>124903</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pinnacle West Capital Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>723484101</cusip>
    <figi>BBG000BRDSX5</figi>
    <value>1628725</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16166</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16166</Sole>
      <Shared>16166</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pinterest Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>72352L106</cusip>
    <figi>BBG002583CV8</figi>
    <value>1082060</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>59000</Sole>
      <Shared>59000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pinterest Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>72352L106</cusip>
    <figi>BBG002583CV8</figi>
    <value>3473596</value>
    <shrsOrPrnAmt>
      <sshPrnamt>189400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>189400</Sole>
      <Shared>189400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pitney Bowes Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>724479100</cusip>
    <figi>BBG000BQTMJ9</figi>
    <value>495029</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44799</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44799</Sole>
      <Shared>44799</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pitney Bowes Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>724479100</cusip>
    <figi>BBG000BQTMJ9</figi>
    <value>156910</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14200</Sole>
      <Shared>14200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pjt Partners Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>69343T107</cusip>
    <figi>BBG0079T1PZ6</figi>
    <value>14098866</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100908</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100908</Sole>
      <Shared>100908</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Plains Gp Holdings Lp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>72651A207</cusip>
    <figi>BBG000TBYFR3</figi>
    <value>728400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30000</Sole>
      <Shared>30000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Plains Gp Holdings Lp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>72651A207</cusip>
    <figi>BBG000TBYFR3</figi>
    <value>3003436</value>
    <shrsOrPrnAmt>
      <sshPrnamt>123700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>123700</Sole>
      <Shared>123700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Planet Fitness Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>72703H101</cusip>
    <figi>BBG009H04M17</figi>
    <value>1420658</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19100</Sole>
      <Shared>19100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Planet Fitness Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>72703H101</cusip>
    <figi>BBG009H04M17</figi>
    <value>275206</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3700</Sole>
      <Shared>3700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Planet Labs PBC - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>72703X106</cusip>
    <figi>BBG00ZCV3P74</figi>
    <value>1092845</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39100</Sole>
      <Shared>39100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Planet Labs PBC - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>72703X106</cusip>
    <figi>BBG00ZCV3P74</figi>
    <value>1646255</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58900</Sole>
      <Shared>58900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Planet Labs PBC - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>72703X106</cusip>
    <figi>BBG00ZCV3P74</figi>
    <value>18019365</value>
    <shrsOrPrnAmt>
      <sshPrnamt>644700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>644700</Sole>
      <Shared>644700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Playstudios Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>72815G108</cusip>
    <figi>BBG00Y1RQ9M2</figi>
    <value>33253</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70871</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>70871</Sole>
      <Shared>70871</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pliant Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>729139105</cusip>
    <figi>BBG00C8083N4</figi>
    <value>37459</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29729</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29729</Sole>
      <Shared>29729</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pnc Financial Services Group Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>693475105</cusip>
    <figi>BBG000BRD0D8</figi>
    <value>2705170</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13000</Sole>
      <Shared>13000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pnc Financial Services Group Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>693475105</cusip>
    <figi>BBG000BRD0D8</figi>
    <value>3724811</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17900</Sole>
      <Shared>17900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>POET Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>73044W302</cusip>
    <figi>BBG000H85B03</figi>
    <value>5809807</value>
    <shrsOrPrnAmt>
      <sshPrnamt>978082</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>978082</Sole>
      <Shared>978082</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pony AI Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>732908108</cusip>
    <figi>BBG01QDDKJ40</figi>
    <value>100064</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10600</Sole>
      <Shared>10600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pony AI Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>732908108</cusip>
    <figi>BBG01QDDKJ40</figi>
    <value>116112</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12300</Sole>
      <Shared>12300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pool Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>73278L105</cusip>
    <figi>BBG000BCVG28</figi>
    <value>8295530</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41000</Sole>
      <Shared>41000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pool Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>73278L105</cusip>
    <figi>BBG000BCVG28</figi>
    <value>3581241</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17700</Sole>
      <Shared>17700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pool Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>73278L105</cusip>
    <figi>BBG000BCVG28</figi>
    <value>3803804</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18800</Sole>
      <Shared>18800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Porch Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>733245104</cusip>
    <figi>BBG00QYZND30</figi>
    <value>149079</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20792</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20792</Sole>
      <Shared>20792</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Portland General Electric Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>736508847</cusip>
    <figi>BBG000BCRMW7</figi>
    <value>9883504</value>
    <shrsOrPrnAmt>
      <sshPrnamt>187294</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>187294</Sole>
      <Shared>187294</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Post Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>737446104</cusip>
    <figi>BBG001WTBC36</figi>
    <value>5742283</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58085</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58085</Sole>
      <Shared>58085</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Postal Realty Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>73757R102</cusip>
    <figi>BBG00NSBGFJ3</figi>
    <value>1058421</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57027</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57027</Sole>
      <Shared>57027</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Powell Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>739128106</cusip>
    <figi>BBG000BRGWN4</figi>
    <value>3619825</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6690</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6690</Sole>
      <Shared>6690</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Powell Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>739128106</cusip>
    <figi>BBG000BRGWN4</figi>
    <value>595188</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1100</Sole>
      <Shared>1100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Powell Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>739128106</cusip>
    <figi>BBG000BRGWN4</figi>
    <value>1136268</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2100</Sole>
      <Shared>2100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Powerfleet Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>73931J109</cusip>
    <figi>BBG00PG3JNL6</figi>
    <value>1577825</value>
    <shrsOrPrnAmt>
      <sshPrnamt>512281</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>512281</Sole>
      <Shared>512281</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ppg Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>693506107</cusip>
    <figi>BBG000BRJ809</figi>
    <value>395456</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3700</Sole>
      <Shared>3700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ppg Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>693506107</cusip>
    <figi>BBG000BRJ809</figi>
    <value>780224</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7300</Sole>
      <Shared>7300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ppl Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>69351T106</cusip>
    <figi>BBG000BRJL00</figi>
    <value>4694780</value>
    <shrsOrPrnAmt>
      <sshPrnamt>122900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>122900</Sole>
      <Shared>122900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ppl Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>69351T106</cusip>
    <figi>BBG000BRJL00</figi>
    <value>4759720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>124600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>124600</Sole>
      <Shared>124600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ppl Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>69351T106</cusip>
    <figi>BBG000BRJL00</figi>
    <value>332340</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8700</Sole>
      <Shared>8700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pra Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>69354N106</cusip>
    <figi>BBG000BNTW77</figi>
    <value>3670923</value>
    <shrsOrPrnAmt>
      <sshPrnamt>209767</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>209767</Sole>
      <Shared>209767</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Praxis Precision Medicines Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74006W207</cusip>
    <figi>BBG00W9LF2G5</figi>
    <value>483285</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1500</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Preferred Bank/Los Angeles Ca - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>740367404</cusip>
    <figi>BBG000BRF6K5</figi>
    <value>5059686</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55791</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>55791</Sole>
      <Shared>55791</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Prime Medicine Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74168J101</cusip>
    <figi>BBG011RT3R55</figi>
    <value>214180</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61546</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>61546</Sole>
      <Shared>61546</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Primo Brands Corp-A - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>741623102</cusip>
    <figi>BBG01QNB0RS1</figi>
    <value>564749</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29992</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29992</Sole>
      <Shared>29992</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Primo Brands Corp-A - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>741623102</cusip>
    <figi>BBG01QNB0RS1</figi>
    <value>241024</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12800</Sole>
      <Shared>12800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Privia Health Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74276R102</cusip>
    <figi>BBG00ZXYXVP9</figi>
    <value>2675828</value>
    <shrsOrPrnAmt>
      <sshPrnamt>130084</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>130084</Sole>
      <Shared>130084</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Procept Biorobotics Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74276L105</cusip>
    <figi>BBG009KD84H4</figi>
    <value>2739820</value>
    <shrsOrPrnAmt>
      <sshPrnamt>109549</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>109549</Sole>
      <Shared>109549</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Procore Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74275K108</cusip>
    <figi>BBG0026ZJ304</figi>
    <value>1715700</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30100</Sole>
      <Shared>30100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Procore Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74275K108</cusip>
    <figi>BBG0026ZJ304</figi>
    <value>1174200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20600</Sole>
      <Shared>20600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Procter &amp; Gamble Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>742718109</cusip>
    <figi>BBG000BR2TH3</figi>
    <value>18213884</value>
    <shrsOrPrnAmt>
      <sshPrnamt>126100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>126100</Sole>
      <Shared>126100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Procter &amp; Gamble Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>742718109</cusip>
    <figi>BBG000BR2TH3</figi>
    <value>36398880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>252000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>252000</Sole>
      <Shared>252000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ProFrac Holding Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74319N100</cusip>
    <figi>BBG013PRYPJ2</figi>
    <value>2948832</value>
    <shrsOrPrnAmt>
      <sshPrnamt>475618</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>475618</Sole>
      <Shared>475618</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Progress Software Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>743312100</cusip>
    <figi>BBG000C4QP94</figi>
    <value>1576141</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61448</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>61448</Sole>
      <Shared>61448</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Progressive Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>743315103</cusip>
    <figi>BBG000BR37X2</figi>
    <value>12493680</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63023</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>63023</Sole>
      <Shared>63023</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Progressive Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>743315103</cusip>
    <figi>BBG000BR37X2</figi>
    <value>892080</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4500</Sole>
      <Shared>4500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Progressive Corp/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>743315103</cusip>
    <figi>BBG000BR37X2</figi>
    <value>3132192</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15800</Sole>
      <Shared>15800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Prologis Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74340W103</cusip>
    <figi>BBG000B9Z0J8</figi>
    <value>409758</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3100</Sole>
      <Shared>3100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Prologis Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74340W103</cusip>
    <figi>BBG000B9Z0J8</figi>
    <value>3965400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30000</Sole>
      <Shared>30000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Propetro Holding Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74347M108</cusip>
    <figi>BBG00FYCQ352</figi>
    <value>7309516</value>
    <shrsOrPrnAmt>
      <sshPrnamt>507253</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>507253</Sole>
      <Shared>507253</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ProShares S&amp;P 500 Dividend Aristocrats ETF - US ET</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>74348A467</cusip>
    <figi>BBG005D266N4</figi>
    <value>4377577</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41294</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41294</Sole>
      <Shared>41294</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Proshares Ultra S&amp;P500 - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>74347R107</cusip>
    <figi>BBG000PNHF54</figi>
    <value>466609</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8994</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8994</Sole>
      <Shared>8994</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Proshares Ultrapro Short S&amp;P 500 - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>74350P659</cusip>
    <figi>BBG000N2ZYJ6</figi>
    <value>148943</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10500</Sole>
      <Shared>10500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Prospect Capital Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74348T102</cusip>
    <figi>BBG000Q3RGN4</figi>
    <value>3802431</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1456870</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1456870</Sole>
      <Shared>1456870</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Protagonist Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74366E102</cusip>
    <figi>BBG002B63KM7</figi>
    <value>653480</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6200</Sole>
      <Shared>6200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Protagonist Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74366E102</cusip>
    <figi>BBG002B63KM7</figi>
    <value>400520</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3800</Sole>
      <Shared>3800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Prothena Corp Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G72800108</cusip>
    <figi>BBG003PDKJF7</figi>
    <value>237858</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24471</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24471</Sole>
      <Shared>24471</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Prudential Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>744320102</cusip>
    <figi>BBG000HCJMF9</figi>
    <value>2696244</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27600</Sole>
      <Shared>27600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ptc Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>69366J200</cusip>
    <figi>BBG000QT15P7</figi>
    <value>2873178</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42172</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42172</Sole>
      <Shared>42172</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Public Service Enterprise Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>744573106</cusip>
    <figi>BBG000BQZMH4</figi>
    <value>38572837</value>
    <shrsOrPrnAmt>
      <sshPrnamt>476502</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>476502</Sole>
      <Shared>476502</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Public Storage - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74460D109</cusip>
    <figi>BBG000BPPN67</figi>
    <value>1083520</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4000</Sole>
      <Shared>4000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Public Storage - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74460D109</cusip>
    <figi>BBG000BPPN67</figi>
    <value>1435664</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5300</Sole>
      <Shared>5300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pubmatic Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74467Q103</cusip>
    <figi>BBG001PKMK06</figi>
    <value>2872096</value>
    <shrsOrPrnAmt>
      <sshPrnamt>351112</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>351112</Sole>
      <Shared>351112</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pulmonx Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>745848101</cusip>
    <figi>BBG000LZVJC9</figi>
    <value>14226</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11028</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11028</Sole>
      <Shared>11028</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pultegroup Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>745867101</cusip>
    <figi>BBG000BR54L0</figi>
    <value>223459</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1900</Sole>
      <Shared>1900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pultegroup Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>745867101</cusip>
    <figi>BBG000BR54L0</figi>
    <value>1552452</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13200</Sole>
      <Shared>13200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Purecycle Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74623V103</cusip>
    <figi>BBG00YRJF1V1</figi>
    <value>559010</value>
    <shrsOrPrnAmt>
      <sshPrnamt>107709</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>107709</Sole>
      <Shared>107709</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Purple Innovation Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74640Y106</cusip>
    <figi>BBG009S7FWY0</figi>
    <value>99609</value>
    <shrsOrPrnAmt>
      <sshPrnamt>150649</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>150649</Sole>
      <Shared>150649</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pvh Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>693656100</cusip>
    <figi>BBG000BRRG02</figi>
    <value>419746</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6017</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6017</Sole>
      <Shared>6017</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Pvh Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>693656100</cusip>
    <figi>BBG000BRRG02</figi>
    <value>320896</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4600</Sole>
      <Shared>4600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Q2 Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74736L109</cusip>
    <figi>BBG005ZVK9P2</figi>
    <value>10377194</value>
    <shrsOrPrnAmt>
      <sshPrnamt>219391</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>219391</Sole>
      <Shared>219391</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Qcr Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74727A104</cusip>
    <figi>BBG000BYZSM8</figi>
    <value>1020358</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11941</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11941</Sole>
      <Shared>11941</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Qfin Holdings Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88557W101</cusip>
    <figi>BBG00MDY4KL0</figi>
    <value>187195</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14500</Sole>
      <Shared>14500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Qiagen Nv - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>N72482156</cusip>
    <figi>BBG000GTYWL7</figi>
    <value>800800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20000</Sole>
      <Shared>20000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Qiagen Nv - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N72482156</cusip>
    <figi>BBG000GTYWL7</figi>
    <value>1273272</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31800</Sole>
      <Shared>31800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Qiagen Nv - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N72482156</cusip>
    <figi>BBG000GTYWL7</figi>
    <value>252252</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6300</Sole>
      <Shared>6300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Qnity Electronics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74743L100</cusip>
    <figi>BBG01TRL73S5</figi>
    <value>14227854</value>
    <shrsOrPrnAmt>
      <sshPrnamt>123313</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>123313</Sole>
      <Shared>123313</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Qorvo Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74736K101</cusip>
    <figi>BBG007TJF1N7</figi>
    <value>343192</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4434</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4434</Sole>
      <Shared>4434</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Qorvo Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74736K101</cusip>
    <figi>BBG007TJF1N7</figi>
    <value>6083640</value>
    <shrsOrPrnAmt>
      <sshPrnamt>78600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>78600</Sole>
      <Shared>78600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Qorvo Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74736K101</cusip>
    <figi>BBG007TJF1N7</figi>
    <value>1756980</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22700</Sole>
      <Shared>22700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Qualcomm Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>747525103</cusip>
    <figi>BBG000CGC1X8</figi>
    <value>6352975</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49332</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49332</Sole>
      <Shared>49332</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Qualcomm Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>747525103</cusip>
    <figi>BBG000CGC1X8</figi>
    <value>7662410</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>59500</Sole>
      <Shared>59500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Qualcomm Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>747525103</cusip>
    <figi>BBG000CGC1X8</figi>
    <value>31499588</value>
    <shrsOrPrnAmt>
      <sshPrnamt>244600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>244600</Sole>
      <Shared>244600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Qualys Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74758T303</cusip>
    <figi>BBG000HT5G06</figi>
    <value>22040247</value>
    <shrsOrPrnAmt>
      <sshPrnamt>250885</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>250885</Sole>
      <Shared>250885</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Qualys Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74758T303</cusip>
    <figi>BBG000HT5G06</figi>
    <value>7326690</value>
    <shrsOrPrnAmt>
      <sshPrnamt>83400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>83400</Sole>
      <Shared>83400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Qualys Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74758T303</cusip>
    <figi>BBG000HT5G06</figi>
    <value>1388030</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15800</Sole>
      <Shared>15800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Quanta Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74762E102</cusip>
    <figi>BBG000BBL8V7</figi>
    <value>1152942</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2100</Sole>
      <Shared>2100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Quanta Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74762E102</cusip>
    <figi>BBG000BBL8V7</figi>
    <value>878432</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1600</Sole>
      <Shared>1600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Quanterix Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74766Q101</cusip>
    <figi>BBG0027NWC69</figi>
    <value>1112324</value>
    <shrsOrPrnAmt>
      <sshPrnamt>316001</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>316001</Sole>
      <Shared>316001</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Quantum Computing Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74766W108</cusip>
    <figi>BBG000PP3YK6</figi>
    <value>118505</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17300</Sole>
      <Shared>17300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Quantumscape Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74767V109</cusip>
    <figi>BBG00VJ17DS2</figi>
    <value>3933072</value>
    <shrsOrPrnAmt>
      <sshPrnamt>616469</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>616469</Sole>
      <Shared>616469</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Quantumscape Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74767V109</cusip>
    <figi>BBG00VJ17DS2</figi>
    <value>930842</value>
    <shrsOrPrnAmt>
      <sshPrnamt>145900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>145900</Sole>
      <Shared>145900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Quantumscape Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74767V109</cusip>
    <figi>BBG00VJ17DS2</figi>
    <value>188210</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29500</Sole>
      <Shared>29500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Quest Diagnostics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74834L100</cusip>
    <figi>BBG000BN84F3</figi>
    <value>3571735</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18225</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18225</Sole>
      <Shared>18225</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Quest Diagnostics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74834L100</cusip>
    <figi>BBG000BN84F3</figi>
    <value>4056786</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20700</Sole>
      <Shared>20700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Quest Diagnostics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74834L100</cusip>
    <figi>BBG000BN84F3</figi>
    <value>4135178</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21100</Sole>
      <Shared>21100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>QuidelOrtho Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>219798105</cusip>
    <figi>BBG017TGV7M2</figi>
    <value>3852983</value>
    <shrsOrPrnAmt>
      <sshPrnamt>234509</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>234509</Sole>
      <Shared>234509</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Quince Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>22053A206</cusip>
    <figi>BBG00BTK1DT8</figi>
    <value>22308</value>
    <shrsOrPrnAmt>
      <sshPrnamt>220000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>220000</Sole>
      <Shared>220000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>QXO Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>82846H405</cusip>
    <figi>BBG000BV5627</figi>
    <value>757380</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39000</Sole>
      <Shared>39000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>QXO Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>82846H405</cusip>
    <figi>BBG000BV5627</figi>
    <value>1555542</value>
    <shrsOrPrnAmt>
      <sshPrnamt>80100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>80100</Sole>
      <Shared>80100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Radian Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>750236101</cusip>
    <figi>BBG000BMWV95</figi>
    <value>879200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26578</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26578</Sole>
      <Shared>26578</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Radnet Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>750491102</cusip>
    <figi>BBG000CXSF54</figi>
    <value>490770</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8781</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8781</Sole>
      <Shared>8781</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ralliant Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>750940108</cusip>
    <figi>BBG01V4YRP24</figi>
    <value>4159000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100000</Sole>
      <Shared>100000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ralph Lauren Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>751212101</cusip>
    <figi>BBG000BS0ZF1</figi>
    <value>13358852</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38835</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38835</Sole>
      <Shared>38835</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ralph Lauren Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>751212101</cusip>
    <figi>BBG000BS0ZF1</figi>
    <value>275192</value>
    <shrsOrPrnAmt>
      <sshPrnamt>800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>800</Sole>
      <Shared>800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ramaco Resources Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>75134P600</cusip>
    <figi>BBG00BCQJ2X3</figi>
    <value>4571507</value>
    <shrsOrPrnAmt>
      <sshPrnamt>295699</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>295699</Sole>
      <Shared>295699</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ramaco Resources Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>75134P600</cusip>
    <figi>BBG00BCQJ2X3</figi>
    <value>482352</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31200</Sole>
      <Shared>31200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Range Resources Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>75281A109</cusip>
    <figi>BBG000FVXD63</figi>
    <value>1576059</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34884</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34884</Sole>
      <Shared>34884</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Range Resources Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>75281A109</cusip>
    <figi>BBG000FVXD63</figi>
    <value>289152</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6400</Sole>
      <Shared>6400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Range Resources Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>75281A109</cusip>
    <figi>BBG000FVXD63</figi>
    <value>1084320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24000</Sole>
      <Shared>24000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ranpak Holdings Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>75321W103</cusip>
    <figi>BBG00JRXX6Y9</figi>
    <value>73099</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20476</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20476</Sole>
      <Shared>20476</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Raymond James Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>754730109</cusip>
    <figi>BBG000BS73J1</figi>
    <value>19650175</value>
    <shrsOrPrnAmt>
      <sshPrnamt>135715</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>135715</Sole>
      <Shared>135715</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rbc Bearings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>75524B104</cusip>
    <figi>BBG000GMGNB3</figi>
    <value>1913412</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3523</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3523</Sole>
      <Shared>3523</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rci Hospitality Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74934Q108</cusip>
    <figi>BBG000FLT111</figi>
    <value>1323162</value>
    <shrsOrPrnAmt>
      <sshPrnamt>58008</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58008</Sole>
      <Shared>58008</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Re/Max Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>75524W108</cusip>
    <figi>BBG005544NX3</figi>
    <value>415826</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72192</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>72192</Sole>
      <Shared>72192</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ready Capital Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>75574U101</cusip>
    <figi>BBG003TCRRN1</figi>
    <value>1979055</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1221639</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1221639</Sole>
      <Shared>1221639</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ready Capital Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>75574U101</cusip>
    <figi>BBG003TCRRN1</figi>
    <value>290952</value>
    <shrsOrPrnAmt>
      <sshPrnamt>179600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>179600</Sole>
      <Shared>179600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Realreal Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88339P101</cusip>
    <figi>BBG004FPDNZ6</figi>
    <value>8648146</value>
    <shrsOrPrnAmt>
      <sshPrnamt>952439</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>952439</Sole>
      <Shared>952439</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Realty Income Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>756109104</cusip>
    <figi>BBG000DHPN63</figi>
    <value>3230304</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52800</Sole>
      <Shared>52800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Realty Income Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>756109104</cusip>
    <figi>BBG000DHPN63</figi>
    <value>7610792</value>
    <shrsOrPrnAmt>
      <sshPrnamt>124400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>124400</Sole>
      <Shared>124400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Recursion Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>75629V104</cusip>
    <figi>BBG00PQ4XJ45</figi>
    <value>814459</value>
    <shrsOrPrnAmt>
      <sshPrnamt>265296</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>265296</Sole>
      <Shared>265296</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Red Cat Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>75644T100</cusip>
    <figi>BBG000BQRDD7</figi>
    <value>221221</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16900</Sole>
      <Shared>16900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Red Rock Resorts Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>75700L108</cusip>
    <figi>BBG00B6G8077</figi>
    <value>5756103</value>
    <shrsOrPrnAmt>
      <sshPrnamt>107873</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>107873</Sole>
      <Shared>107873</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Red Violet Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>75704L104</cusip>
    <figi>BBG00HNGGZ88</figi>
    <value>3661545</value>
    <shrsOrPrnAmt>
      <sshPrnamt>105825</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>105825</Sole>
      <Shared>105825</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Reddit Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>75734B100</cusip>
    <figi>BBG005K1D4S0</figi>
    <value>5480255</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40700</Sole>
      <Shared>40700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Reddit Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>75734B100</cusip>
    <figi>BBG005K1D4S0</figi>
    <value>10610420</value>
    <shrsOrPrnAmt>
      <sshPrnamt>78800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>78800</Sole>
      <Shared>78800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Redwire Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>75776W103</cusip>
    <figi>BBG00YGLXD60</figi>
    <value>3894224</value>
    <shrsOrPrnAmt>
      <sshPrnamt>458144</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>458144</Sole>
      <Shared>458144</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Redwood Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>758075402</cusip>
    <figi>BBG000JNJPB0</figi>
    <value>901544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>160703</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>160703</Sole>
      <Shared>160703</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Regal Rexnord Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>758750103</cusip>
    <figi>BBG000BRXTR8</figi>
    <value>4381884</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23400</Sole>
      <Shared>23400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Regeneron Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>75886F107</cusip>
    <figi>BBG000C734W3</figi>
    <value>540848</value>
    <shrsOrPrnAmt>
      <sshPrnamt>700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>700</Sole>
      <Shared>700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Regenxbio Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>75901B107</cusip>
    <figi>BBG007Z9V591</figi>
    <value>203718</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24310</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24310</Sole>
      <Shared>24310</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Regions Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>7591EP100</cusip>
    <figi>BBG000Q3JN03</figi>
    <value>16762170</value>
    <shrsOrPrnAmt>
      <sshPrnamt>641737</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>641737</Sole>
      <Shared>641737</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Regions Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>7591EP100</cusip>
    <figi>BBG000Q3JN03</figi>
    <value>203736</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7800</Sole>
      <Shared>7800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Remitly Global Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>75960P104</cusip>
    <figi>BBG012C7JST2</figi>
    <value>9338442</value>
    <shrsOrPrnAmt>
      <sshPrnamt>595944</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>595944</Sole>
      <Shared>595944</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Remitly Global Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>75960P104</cusip>
    <figi>BBG012C7JST2</figi>
    <value>192741</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12300</Sole>
      <Shared>12300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Renaissancere Holdings Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G7496G103</cusip>
    <figi>BBG000BFVZ83</figi>
    <value>407205</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1370</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1370</Sole>
      <Shared>1370</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Replimune Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>76029N106</cusip>
    <figi>BBG00L8Z22R1</figi>
    <value>4834035</value>
    <shrsOrPrnAmt>
      <sshPrnamt>631900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>631900</Sole>
      <Shared>631900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Replimune Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>76029N106</cusip>
    <figi>BBG00L8Z22R1</figi>
    <value>382500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50000</Sole>
      <Shared>50000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Republic Bancorp Inc/Ky - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>760281204</cusip>
    <figi>BBG000BJMHG6</figi>
    <value>592832</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8403</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8403</Sole>
      <Shared>8403</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Republic Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>760759100</cusip>
    <figi>BBG000BPXVJ6</figi>
    <value>2007975</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9168</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9168</Sole>
      <Shared>9168</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Republic Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>760759100</cusip>
    <figi>BBG000BPXVJ6</figi>
    <value>438040</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2000</Sole>
      <Shared>2000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Republic Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>760759100</cusip>
    <figi>BBG000BPXVJ6</figi>
    <value>284726</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1300</Sole>
      <Shared>1300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Resideo Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>76118Y104</cusip>
    <figi>BBG00HY28K89</figi>
    <value>6011572</value>
    <shrsOrPrnAmt>
      <sshPrnamt>178332</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>178332</Sole>
      <Shared>178332</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Resmed Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>761152107</cusip>
    <figi>BBG000L4M7F1</figi>
    <value>403166</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1796</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1796</Sole>
      <Shared>1796</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Resmed Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>761152107</cusip>
    <figi>BBG000L4M7F1</figi>
    <value>314272</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1400</Sole>
      <Shared>1400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Restaurant Brands International Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>76131D103</cusip>
    <figi>BBG0076WG2V1</figi>
    <value>236480</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3200</Sole>
      <Shared>3200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Revolution Medicines Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>76155X100</cusip>
    <figi>BBG00829F4P8</figi>
    <value>8543607</value>
    <shrsOrPrnAmt>
      <sshPrnamt>87852</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>87852</Sole>
      <Shared>87852</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Revolve Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>76156B107</cusip>
    <figi>BBG00M4RHBD0</figi>
    <value>4080969</value>
    <shrsOrPrnAmt>
      <sshPrnamt>180494</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>180494</Sole>
      <Shared>180494</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rh - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74967X103</cusip>
    <figi>BBG002293PJ4</figi>
    <value>4977592</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35600</Sole>
      <Shared>35600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rh - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74967X103</cusip>
    <figi>BBG002293PJ4</figi>
    <value>6907108</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49400</Sole>
      <Shared>49400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rhythm Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>76243J105</cusip>
    <figi>BBG007DLZ601</figi>
    <value>1708613</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19646</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19646</Sole>
      <Shared>19646</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rigetti Computing Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>76655K103</cusip>
    <figi>BBG00Z911S16</figi>
    <value>1561248</value>
    <shrsOrPrnAmt>
      <sshPrnamt>111200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>111200</Sole>
      <Shared>111200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rigetti Computing Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>76655K103</cusip>
    <figi>BBG00Z911S16</figi>
    <value>2473848</value>
    <shrsOrPrnAmt>
      <sshPrnamt>176200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>176200</Sole>
      <Shared>176200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rio Tinto Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>767204100</cusip>
    <figi>BBG000FD28T3</figi>
    <value>9422290</value>
    <shrsOrPrnAmt>
      <sshPrnamt>101000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>101000</Sole>
      <Shared>101000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rio Tinto Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>767204100</cusip>
    <figi>BBG000FD28T3</figi>
    <value>10205926</value>
    <shrsOrPrnAmt>
      <sshPrnamt>109400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>109400</Sole>
      <Shared>109400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Riot Platforms Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>767292105</cusip>
    <figi>BBG000BQ4512</figi>
    <value>4944260</value>
    <shrsOrPrnAmt>
      <sshPrnamt>400021</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>400021</Sole>
      <Shared>400021</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Riot Platforms Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>767292105</cusip>
    <figi>BBG000BQ4512</figi>
    <value>149556</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12100</Sole>
      <Shared>12100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Riot Platforms Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>767292105</cusip>
    <figi>BBG000BQ4512</figi>
    <value>1147008</value>
    <shrsOrPrnAmt>
      <sshPrnamt>92800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>92800</Sole>
      <Shared>92800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rivian Automotive Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>76954A103</cusip>
    <figi>BBG00741Y1N2</figi>
    <value>17215846</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1143910</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1143910</Sole>
      <Shared>1143910</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rivian Automotive Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>76954A103</cusip>
    <figi>BBG00741Y1N2</figi>
    <value>893970</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>59400</Sole>
      <Shared>59400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rivian Automotive Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>76954A103</cusip>
    <figi>BBG00741Y1N2</figi>
    <value>3091270</value>
    <shrsOrPrnAmt>
      <sshPrnamt>205400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>205400</Sole>
      <Shared>205400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rlj Lodging Trust - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74965L101</cusip>
    <figi>BBG001HPC9F4</figi>
    <value>275104</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37076</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37076</Sole>
      <Shared>37076</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Robert Half Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>770323103</cusip>
    <figi>BBG000BS5DR2</figi>
    <value>2221255</value>
    <shrsOrPrnAmt>
      <sshPrnamt>87451</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>87451</Sole>
      <Shared>87451</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Robert Half Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>770323103</cusip>
    <figi>BBG000BS5DR2</figi>
    <value>248920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9800</Sole>
      <Shared>9800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Robinhood Markets Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>770700102</cusip>
    <figi>BBG008NMBXN8</figi>
    <value>5065414</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73094</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>73094</Sole>
      <Shared>73094</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Robinhood Markets Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>770700102</cusip>
    <figi>BBG008NMBXN8</figi>
    <value>25190550</value>
    <shrsOrPrnAmt>
      <sshPrnamt>363500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>363500</Sole>
      <Shared>363500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Robinhood Markets Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>770700102</cusip>
    <figi>BBG008NMBXN8</figi>
    <value>19057500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>275000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>275000</Sole>
      <Shared>275000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Roblox Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>771049103</cusip>
    <figi>BBG001R1GCT0</figi>
    <value>730133</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12909</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12909</Sole>
      <Shared>12909</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Roblox Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>771049103</cusip>
    <figi>BBG001R1GCT0</figi>
    <value>2432080</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43000</Sole>
      <Shared>43000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Roblox Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>771049103</cusip>
    <figi>BBG001R1GCT0</figi>
    <value>3919608</value>
    <shrsOrPrnAmt>
      <sshPrnamt>69300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>69300</Sole>
      <Shared>69300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rocket Cos Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>77311W101</cusip>
    <figi>BBG00VY1MYW7</figi>
    <value>14313427</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1004451</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1004451</Sole>
      <Shared>1004451</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rocket Cos Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>77311W101</cusip>
    <figi>BBG00VY1MYW7</figi>
    <value>551475</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38700</Sole>
      <Shared>38700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rocket Cos Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>77311W101</cusip>
    <figi>BBG00VY1MYW7</figi>
    <value>3209100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>225200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>225200</Sole>
      <Shared>225200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rocket Cos Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>75737FAE8</cusip>
    <figi>BBG00ZS0DNN1</figi>
    <value>22545435</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23540000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23540000</Sole>
      <Shared>23540000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rocket Lab Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>773121108</cusip>
    <figi>BBG01V7JN3F3</figi>
    <value>27281298</value>
    <shrsOrPrnAmt>
      <sshPrnamt>424810</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>424810</Sole>
      <Shared>424810</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rocket Lab Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>773121108</cusip>
    <figi>BBG01V7JN3F3</figi>
    <value>2960542</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46100</Sole>
      <Shared>46100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rocket Lab Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>773121108</cusip>
    <figi>BBG01V7JN3F3</figi>
    <value>11983452</value>
    <shrsOrPrnAmt>
      <sshPrnamt>186600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>186600</Sole>
      <Shared>186600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rocket Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>77313F106</cusip>
    <figi>BBG000WG3567</figi>
    <value>180765</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50493</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50493</Sole>
      <Shared>50493</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rockwell Automation Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>773903109</cusip>
    <figi>BBG000BBCDZ2</figi>
    <value>29553409</value>
    <shrsOrPrnAmt>
      <sshPrnamt>82349</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>82349</Sole>
      <Shared>82349</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rockwell Automation Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>773903109</cusip>
    <figi>BBG000BBCDZ2</figi>
    <value>3050480</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8500</Sole>
      <Shared>8500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rockwell Automation Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>773903109</cusip>
    <figi>BBG000BBCDZ2</figi>
    <value>538320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1500</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Roivant Sciences Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G76279101</cusip>
    <figi>BBG007STW2B8</figi>
    <value>229910</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8300</Sole>
      <Shared>8300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Roivant Sciences Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G76279101</cusip>
    <figi>BBG007STW2B8</figi>
    <value>260380</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9400</Sole>
      <Shared>9400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Roku Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>77543R102</cusip>
    <figi>BBG001ZZPQJ6</figi>
    <value>7773033</value>
    <shrsOrPrnAmt>
      <sshPrnamt>82150</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>82150</Sole>
      <Shared>82150</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Roku Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>77543R102</cusip>
    <figi>BBG001ZZPQJ6</figi>
    <value>6481470</value>
    <shrsOrPrnAmt>
      <sshPrnamt>68500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>68500</Sole>
      <Shared>68500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Roku Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>77543R102</cusip>
    <figi>BBG001ZZPQJ6</figi>
    <value>1797780</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19000</Sole>
      <Shared>19000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rollins Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>775711104</cusip>
    <figi>BBG000BSBBP1</figi>
    <value>14727060</value>
    <shrsOrPrnAmt>
      <sshPrnamt>275736</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>275736</Sole>
      <Shared>275736</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Root Inc/Oh - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>77664L207</cusip>
    <figi>BBG002GMC9F0</figi>
    <value>1674220</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37904</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37904</Sole>
      <Shared>37904</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Roper Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>776696106</cusip>
    <figi>BBG000F1ZSN5</figi>
    <value>4532593</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12809</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12809</Sole>
      <Shared>12809</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Roper Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>776696106</cusip>
    <figi>BBG000F1ZSN5</figi>
    <value>530790</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1500</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ross Stores Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>778296103</cusip>
    <figi>BBG000BSBZH7</figi>
    <value>835109</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3855</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3855</Sole>
      <Shared>3855</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ross Stores Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>778296103</cusip>
    <figi>BBG000BSBZH7</figi>
    <value>238293</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1100</Sole>
      <Shared>1100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ross Stores Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>778296103</cusip>
    <figi>BBG000BSBZH7</figi>
    <value>2101311</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9700</Sole>
      <Shared>9700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Royal Bank Of Canada - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>780087102</cusip>
    <figi>BBG000BSSC44</figi>
    <value>2329956</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14402</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14402</Sole>
      <Shared>14402</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Royal Bank Of Canada - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>780087102</cusip>
    <figi>BBG000BSSC44</figi>
    <value>1714868</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10600</Sole>
      <Shared>10600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Royal Bank Of Canada - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>780087102</cusip>
    <figi>BBG000BSSC44</figi>
    <value>7555126</value>
    <shrsOrPrnAmt>
      <sshPrnamt>46700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>46700</Sole>
      <Shared>46700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Royal Caribbean Cruises Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>V7780T103</cusip>
    <figi>BBG000BB5792</figi>
    <value>2283994</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8300</Sole>
      <Shared>8300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Royal Caribbean Cruises Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>V7780T103</cusip>
    <figi>BBG000BB5792</figi>
    <value>7127162</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25900</Sole>
      <Shared>25900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Royal Gold Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>780287108</cusip>
    <figi>BBG000BS5170</figi>
    <value>20506295</value>
    <shrsOrPrnAmt>
      <sshPrnamt>80578</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>80578</Sole>
      <Shared>80578</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Royal Gold Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>780287108</cusip>
    <figi>BBG000BS5170</figi>
    <value>661674</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2600</Sole>
      <Shared>2600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Royal Gold Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>780287108</cusip>
    <figi>BBG000BS5170</figi>
    <value>6489495</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25500</Sole>
      <Shared>25500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Royalty Pharma Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G7709Q104</cusip>
    <figi>BBG00V1L5YZ5</figi>
    <value>32220490</value>
    <shrsOrPrnAmt>
      <sshPrnamt>671680</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>671680</Sole>
      <Shared>671680</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Royalty Pharma Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G7709Q104</cusip>
    <figi>BBG00V1L5YZ5</figi>
    <value>2168244</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45200</Sole>
      <Shared>45200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rpc Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>749660106</cusip>
    <figi>BBG000BS3047</figi>
    <value>83983</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11862</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11862</Sole>
      <Shared>11862</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rpm International Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>749685103</cusip>
    <figi>BBG000DCNK80</figi>
    <value>24108277</value>
    <shrsOrPrnAmt>
      <sshPrnamt>242538</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>242538</Sole>
      <Shared>242538</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RTX Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>75513E101</cusip>
    <figi>BBG000BW8S60</figi>
    <value>42591356</value>
    <shrsOrPrnAmt>
      <sshPrnamt>220795</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>220795</Sole>
      <Shared>220795</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RTX Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>75513E101</cusip>
    <figi>BBG000BW8S60</figi>
    <value>4861080</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25200</Sole>
      <Shared>25200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RTX Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>75513E101</cusip>
    <figi>BBG000BW8S60</figi>
    <value>43614690</value>
    <shrsOrPrnAmt>
      <sshPrnamt>226100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>226100</Sole>
      <Shared>226100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rubrik Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>781154109</cusip>
    <figi>BBG008D32605</figi>
    <value>1229147</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25100</Sole>
      <Shared>25100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rubrik Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>781154109</cusip>
    <figi>BBG008D32605</figi>
    <value>1723744</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35200</Sole>
      <Shared>35200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rush Street Interactive Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>782011100</cusip>
    <figi>BBG00RMKRQM0</figi>
    <value>2871609</value>
    <shrsOrPrnAmt>
      <sshPrnamt>132028</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>132028</Sole>
      <Shared>132028</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Rxsight Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>78349D107</cusip>
    <figi>BBG00THX1YN4</figi>
    <value>929914</value>
    <shrsOrPrnAmt>
      <sshPrnamt>150960</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>150960</Sole>
      <Shared>150960</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ryan Specialty Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>78351F107</cusip>
    <figi>BBG011K4W134</figi>
    <value>2273806</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67392</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>67392</Sole>
      <Shared>67392</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ryanair Holdings Plc - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>783513203</cusip>
    <figi>BBG000J9CBT0</figi>
    <value>1157734</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20030</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20030</Sole>
      <Shared>20030</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ryman Hospitality Properties Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>78377T107</cusip>
    <figi>BBG000BDVP80</figi>
    <value>15070736</value>
    <shrsOrPrnAmt>
      <sshPrnamt>163333</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>163333</Sole>
      <Shared>163333</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>S&amp;P Global Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>78409V104</cusip>
    <figi>BBG000BP1Q11</figi>
    <value>57263950</value>
    <shrsOrPrnAmt>
      <sshPrnamt>134631</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>134631</Sole>
      <Shared>134631</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>S&amp;P Global Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78409V104</cusip>
    <figi>BBG000BP1Q11</figi>
    <value>5869692</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13800</Sole>
      <Shared>13800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sable Offshore Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78574H104</cusip>
    <figi>BBG00Z6F4C10</figi>
    <value>3142104</value>
    <shrsOrPrnAmt>
      <sshPrnamt>190200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>190200</Sole>
      <Shared>190200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sable Offshore Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78574H104</cusip>
    <figi>BBG00Z6F4C10</figi>
    <value>289100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17500</Sole>
      <Shared>17500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sabra Health Care Reit Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>78573L106</cusip>
    <figi>BBG000MTDW24</figi>
    <value>1037632</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53959</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>53959</Sole>
      <Shared>53959</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Safe Pro Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>78642D101</cusip>
    <figi>BBG01NL2KY76</figi>
    <value>859140</value>
    <shrsOrPrnAmt>
      <sshPrnamt>225496</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>225496</Sole>
      <Shared>225496</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Safehold Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>78646V107</cusip>
    <figi>BBG000H35J52</figi>
    <value>2627553</value>
    <shrsOrPrnAmt>
      <sshPrnamt>194202</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>194202</Sole>
      <Shared>194202</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SailPoint Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78781J109</cusip>
    <figi>BBG01RW30Q09</figi>
    <value>153584</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11600</Sole>
      <Shared>11600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Salesforce Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>79466L302</cusip>
    <figi>BBG000BN2DC2</figi>
    <value>104479199</value>
    <shrsOrPrnAmt>
      <sshPrnamt>559700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>559700</Sole>
      <Shared>559700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Salesforce Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>79466L302</cusip>
    <figi>BBG000BN2DC2</figi>
    <value>70822598</value>
    <shrsOrPrnAmt>
      <sshPrnamt>379400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>379400</Sole>
      <Shared>379400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Samsara Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>79589L106</cusip>
    <figi>BBG0099PW5P1</figi>
    <value>636969</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20100</Sole>
      <Shared>20100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Samsara Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>79589L106</cusip>
    <figi>BBG0099PW5P1</figi>
    <value>1213727</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38300</Sole>
      <Shared>38300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sana Biotechnology Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>799566104</cusip>
    <figi>BBG00N5BMH61</figi>
    <value>383567</value>
    <shrsOrPrnAmt>
      <sshPrnamt>133183</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>133183</Sole>
      <Shared>133183</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sandisk Corp/DE - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>80004C200</cusip>
    <figi>BBG01R388JG1</figi>
    <value>42062685</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66205</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>66205</Sole>
      <Shared>66205</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sandisk Corp/DE - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>80004C200</cusip>
    <figi>BBG01R388JG1</figi>
    <value>27573756</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43400</Sole>
      <Shared>43400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sandisk Corp/DE - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>80004C200</cusip>
    <figi>BBG01R388JG1</figi>
    <value>34244826</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>53900</Sole>
      <Shared>53900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sanmina Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>801056102</cusip>
    <figi>BBG000BHBTX7</figi>
    <value>2385376</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18400</Sole>
      <Shared>18400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sap Se - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>803054204</cusip>
    <figi>BBG000BDSLD7</figi>
    <value>23766003</value>
    <shrsOrPrnAmt>
      <sshPrnamt>138812</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>138812</Sole>
      <Shared>138812</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sap Se - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>803054204</cusip>
    <figi>BBG000BDSLD7</figi>
    <value>2739360</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16000</Sole>
      <Shared>16000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sap Se - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>803054204</cusip>
    <figi>BBG000BDSLD7</figi>
    <value>6831279</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39900</Sole>
      <Shared>39900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Savara Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>805111101</cusip>
    <figi>BBG000MS0823</figi>
    <value>244559</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44791</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44791</Sole>
      <Shared>44791</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sba Communications Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>78410G104</cusip>
    <figi>BBG000D2M0Z7</figi>
    <value>27554983</value>
    <shrsOrPrnAmt>
      <sshPrnamt>160101</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>160101</Sole>
      <Shared>160101</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Scage Future-ADR - US</nameOfIssuer>
    <titleOfClass>Warrant / Rights</titleOfClass>
    <cusip>G7840J118</cusip>
    <figi>BBG01VV2GCX1</figi>
    <value>5456</value>
    <shrsOrPrnAmt>
      <sshPrnamt>112499</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>112499</Sole>
      <Shared>112499</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Schmid Group NV - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>N68722102</cusip>
    <figi>BBG01J2WHC81</figi>
    <value>171651</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32387</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32387</Sole>
      <Shared>32387</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Schneider National Inc - US Class B</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>80689H102</cusip>
    <figi>BBG000DR87M7</figi>
    <value>2232455</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84691</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>84691</Sole>
      <Shared>84691</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Scholar Rock Holding Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>80706P103</cusip>
    <figi>BBG00KT2RRM6</figi>
    <value>1485025</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30208</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30208</Sole>
      <Shared>30208</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Schrodinger Inc/United States - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>80810D103</cusip>
    <figi>BBG000T88BN2</figi>
    <value>6254134</value>
    <shrsOrPrnAmt>
      <sshPrnamt>550540</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>550540</Sole>
      <Shared>550540</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Schwab Fundamental U.S. Large Company ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>808524771</cusip>
    <figi>BBG0051J0PH1</figi>
    <value>10624302</value>
    <shrsOrPrnAmt>
      <sshPrnamt>381483</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>381483</Sole>
      <Shared>381483</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Schwab Fundamental U.S. Small Company Index ETF -</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>808524763</cusip>
    <figi>BBG0051NXNP2</figi>
    <value>364708</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11246</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11246</Sole>
      <Shared>11246</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Schwab U.S. Large-Cap Growth ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>808524300</cusip>
    <figi>BBG000Q0CS41</figi>
    <value>2006067</value>
    <shrsOrPrnAmt>
      <sshPrnamt>68866</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>68866</Sole>
      <Shared>68866</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Schwab U.S. Large-Cap Value ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>808524409</cusip>
    <figi>BBG000Q0D5X8</figi>
    <value>9370363</value>
    <shrsOrPrnAmt>
      <sshPrnamt>307225</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>307225</Sole>
      <Shared>307225</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Schwab U.S. REIT ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>808524847</cusip>
    <figi>BBG001CSKWZ1</figi>
    <value>3451036</value>
    <shrsOrPrnAmt>
      <sshPrnamt>160588</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>160588</Sole>
      <Shared>160588</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Schwab Us Broad Market Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>808524102</cusip>
    <figi>BBG000PRZSP5</figi>
    <value>4480199</value>
    <shrsOrPrnAmt>
      <sshPrnamt>178494</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>178494</Sole>
      <Shared>178494</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Schwab Us Dividend Equity Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>808524797</cusip>
    <figi>BBG0025RWKW5</figi>
    <value>1905105</value>
    <shrsOrPrnAmt>
      <sshPrnamt>62096</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>62096</Sole>
      <Shared>62096</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Schwab Us Large-Cap Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>808524201</cusip>
    <figi>BBG000PS05G1</figi>
    <value>7557493</value>
    <shrsOrPrnAmt>
      <sshPrnamt>294754</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>294754</Sole>
      <Shared>294754</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Scorpio Tankers Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>Y7542C130</cusip>
    <figi>BBG000Q1TVZ0</figi>
    <value>28276131</value>
    <shrsOrPrnAmt>
      <sshPrnamt>378732</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>378732</Sole>
      <Shared>378732</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Scorpio Tankers Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>Y7542C130</cusip>
    <figi>BBG000Q1TVZ0</figi>
    <value>798862</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10700</Sole>
      <Shared>10700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Scorpio Tankers Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>Y7542C130</cusip>
    <figi>BBG000Q1TVZ0</figi>
    <value>574882</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7700</Sole>
      <Shared>7700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Scotts Miracle-Gro Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>810186106</cusip>
    <figi>BBG000BT5PG5</figi>
    <value>358779</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5900</Sole>
      <Shared>5900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sea Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>81141R100</cusip>
    <figi>BBG00HTBWMG5</figi>
    <value>5953625</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71895</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>71895</Sole>
      <Shared>71895</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sea Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>81141R100</cusip>
    <figi>BBG00HTBWMG5</figi>
    <value>1747291</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21100</Sole>
      <Shared>21100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sea Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>81141R100</cusip>
    <figi>BBG00HTBWMG5</figi>
    <value>9340968</value>
    <shrsOrPrnAmt>
      <sshPrnamt>112800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>112800</Sole>
      <Shared>112800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Seabridge Gold Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>811916105</cusip>
    <figi>BBG000JYQX30</figi>
    <value>497140</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17542</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17542</Sole>
      <Shared>17542</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Seabridge Gold Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>811916105</cusip>
    <figi>BBG000JYQX30</figi>
    <value>1235624</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43600</Sole>
      <Shared>43600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Seadrill Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G7997W102</cusip>
    <figi>BBG017YB59Q8</figi>
    <value>457321</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10051</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10051</Sole>
      <Shared>10051</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Seagate Technology Holdings Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G7997R103</cusip>
    <figi>BBG0113JGQF0</figi>
    <value>39975582</value>
    <shrsOrPrnAmt>
      <sshPrnamt>102041</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>102041</Sole>
      <Shared>102041</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Seagate Technology Holdings Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G7997R103</cusip>
    <figi>BBG0113JGQF0</figi>
    <value>9872352</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25200</Sole>
      <Shared>25200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Seagate Technology Holdings Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G7997R103</cusip>
    <figi>BBG0113JGQF0</figi>
    <value>7913552</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20200</Sole>
      <Shared>20200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sealed Air Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>81211K100</cusip>
    <figi>BBG000C22QV7</figi>
    <value>179466961</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4267942</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4267942</Sole>
      <Shared>4267942</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SEALSQ Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G79483106</cusip>
    <figi>BBG01G7R3YG1</figi>
    <value>3330282</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1271100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1271100</Sole>
      <Shared>1271100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Selective Insurance Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>816300107</cusip>
    <figi>BBG000BSZ738</figi>
    <value>1887012</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25030</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25030</Sole>
      <Shared>25030</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Selectquote Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>816307300</cusip>
    <figi>BBG000GTP1B6</figi>
    <value>617715</value>
    <shrsOrPrnAmt>
      <sshPrnamt>981279</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>981279</Sole>
      <Shared>981279</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sellas Life Sciences Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>81642T209</cusip>
    <figi>BBG000VC77H7</figi>
    <value>658188</value>
    <shrsOrPrnAmt>
      <sshPrnamt>155600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>155600</Sole>
      <Shared>155600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sellas Life Sciences Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>81642T209</cusip>
    <figi>BBG000VC77H7</figi>
    <value>671724</value>
    <shrsOrPrnAmt>
      <sshPrnamt>158800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>158800</Sole>
      <Shared>158800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sempra - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>816851109</cusip>
    <figi>BBG000C2ZCH8</figi>
    <value>378963</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3900</Sole>
      <Shared>3900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Semtech Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>816850101</cusip>
    <figi>BBG000DBKR53</figi>
    <value>4625164</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60153</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60153</Sole>
      <Shared>60153</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sensata Technologies Holding Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G8060N102</cusip>
    <figi>BBG00JPGYW43</figi>
    <value>6470372</value>
    <shrsOrPrnAmt>
      <sshPrnamt>183713</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>183713</Sole>
      <Shared>183713</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sentinelone Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>81730H109</cusip>
    <figi>BBG00B6F2F09</figi>
    <value>995624</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>77300</Sole>
      <Shared>77300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sentinelone Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>81730H109</cusip>
    <figi>BBG00B6F2F09</figi>
    <value>350336</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27200</Sole>
      <Shared>27200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Seritage Growth Properties - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>81752R100</cusip>
    <figi>BBG008NVFMN8</figi>
    <value>177067</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63013</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>63013</Sole>
      <Shared>63013</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Servicenow Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>81762P102</cusip>
    <figi>BBG000M1R011</figi>
    <value>46485857</value>
    <shrsOrPrnAmt>
      <sshPrnamt>444628</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>444628</Sole>
      <Shared>444628</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Servicenow Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>81762P102</cusip>
    <figi>BBG000M1R011</figi>
    <value>44611485</value>
    <shrsOrPrnAmt>
      <sshPrnamt>426700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>426700</Sole>
      <Shared>426700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Servicenow Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>81762P102</cusip>
    <figi>BBG000M1R011</figi>
    <value>54846930</value>
    <shrsOrPrnAmt>
      <sshPrnamt>524600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>524600</Sole>
      <Shared>524600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ServiceTitan Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>81764X103</cusip>
    <figi>BBG009DVYCT2</figi>
    <value>488642</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7700</Sole>
      <Shared>7700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ServiceTitan Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>81764X103</cusip>
    <figi>BBG009DVYCT2</figi>
    <value>1186702</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18700</Sole>
      <Shared>18700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Servisfirst Bancshares Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>81768T108</cusip>
    <figi>BBG000FB8PF8</figi>
    <value>6501607</value>
    <shrsOrPrnAmt>
      <sshPrnamt>89271</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>89271</Sole>
      <Shared>89271</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sezzle Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>78435P105</cusip>
    <figi>BBG00MKN0917</figi>
    <value>1492948</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23589</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23589</Sole>
      <Shared>23589</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sezzle Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78435P105</cusip>
    <figi>BBG00MKN0917</figi>
    <value>1006311</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15900</Sole>
      <Shared>15900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sezzle Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78435P105</cusip>
    <figi>BBG00MKN0917</figi>
    <value>2050596</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32400</Sole>
      <Shared>32400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Shake Shack Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>819047101</cusip>
    <figi>BBG0063GCHH8</figi>
    <value>1362438</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15400</Sole>
      <Shared>15400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Shake Shack Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>819047101</cusip>
    <figi>BBG0063GCHH8</figi>
    <value>1008558</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11400</Sole>
      <Shared>11400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SharkNinja Inc</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G8068L108</cusip>
    <figi>BBG01HN2K357</figi>
    <value>222390</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2100</Sole>
      <Shared>2100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SharkNinja Inc</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G8068L108</cusip>
    <figi>BBG01HN2K357</figi>
    <value>783660</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7400</Sole>
      <Shared>7400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SharpLink Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>820014405</cusip>
    <figi>BBG01KB9ZVR6</figi>
    <value>430860</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>66800</Sole>
      <Shared>66800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SharpLink Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>820014405</cusip>
    <figi>BBG01KB9ZVR6</figi>
    <value>148995</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23100</Sole>
      <Shared>23100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Shell PLC - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>780259305</cusip>
    <figi>BBG0147BN6G2</figi>
    <value>20038989</value>
    <shrsOrPrnAmt>
      <sshPrnamt>215473</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>215473</Sole>
      <Shared>215473</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Shell PLC - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>780259305</cusip>
    <figi>BBG0147BN6G2</figi>
    <value>13261800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>142600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>142600</Sole>
      <Shared>142600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Shell PLC - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>780259305</cusip>
    <figi>BBG0147BN6G2</figi>
    <value>18972000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>204000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>204000</Sole>
      <Shared>204000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sherwin-Williams Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>824348106</cusip>
    <figi>BBG000BSXQV7</figi>
    <value>2532345</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7900</Sole>
      <Shared>7900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Shift4 Payments Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>82452J109</cusip>
    <figi>BBG00TX393L4</figi>
    <value>590355</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13500</Sole>
      <Shared>13500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Shift4 Payments Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>82452J109</cusip>
    <figi>BBG00TX393L4</figi>
    <value>948941</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21700</Sole>
      <Shared>21700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Shoals Technologies Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>82489W107</cusip>
    <figi>BBG00YQ82275</figi>
    <value>1805466</value>
    <shrsOrPrnAmt>
      <sshPrnamt>274387</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>274387</Sole>
      <Shared>274387</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Shopify Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>82509L107</cusip>
    <figi>BBG008HBD923</figi>
    <value>33132701</value>
    <shrsOrPrnAmt>
      <sshPrnamt>279318</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>279318</Sole>
      <Shared>279318</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Shopify Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>82509L107</cusip>
    <figi>BBG008HBD923</figi>
    <value>6618996</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>55800</Sole>
      <Shared>55800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Shopify Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>82509L107</cusip>
    <figi>BBG008HBD923</figi>
    <value>6856236</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57800</Sole>
      <Shared>57800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sibanye Stillwater Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>82575P107</cusip>
    <figi>BBG00RRGP445</figi>
    <value>523748</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42512</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42512</Sole>
      <Shared>42512</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sibanye Stillwater Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>82575P107</cusip>
    <figi>BBG00RRGP445</figi>
    <value>253792</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20600</Sole>
      <Shared>20600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sibanye Stillwater Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>82575P107</cusip>
    <figi>BBG00RRGP445</figi>
    <value>1180256</value>
    <shrsOrPrnAmt>
      <sshPrnamt>95800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>95800</Sole>
      <Shared>95800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Si-Bone Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>825704109</cusip>
    <figi>BBG001J414K6</figi>
    <value>1643365</value>
    <shrsOrPrnAmt>
      <sshPrnamt>130116</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>130116</Sole>
      <Shared>130116</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sigma Lithium Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>826599102</cusip>
    <figi>BBG00L95H2Y2</figi>
    <value>623170</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50500</Sole>
      <Shared>50500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sigma Lithium Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>826599102</cusip>
    <figi>BBG00L95H2Y2</figi>
    <value>145612</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11800</Sole>
      <Shared>11800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Signet Jewelers Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G81276100</cusip>
    <figi>BBG000C4ZZ10</figi>
    <value>203136</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2400</Sole>
      <Shared>2400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Silicon Laboratories Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>826919102</cusip>
    <figi>BBG000BB99S3</figi>
    <value>23376078</value>
    <shrsOrPrnAmt>
      <sshPrnamt>112304</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>112304</Sole>
      <Shared>112304</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Silicon Motion Technology Corp - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>82706C108</cusip>
    <figi>BBG000GT7XY1</figi>
    <value>2301945</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20500</Sole>
      <Shared>20500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Silvercorp Metals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>82835P103</cusip>
    <figi>BBG000CY5S22</figi>
    <value>1545013</value>
    <shrsOrPrnAmt>
      <sshPrnamt>143856</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>143856</Sole>
      <Shared>143856</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Simon Property Group Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>828806109</cusip>
    <figi>BBG000BJ2D31</figi>
    <value>24107137</value>
    <shrsOrPrnAmt>
      <sshPrnamt>129240</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>129240</Sole>
      <Shared>129240</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Simon Property Group Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>828806109</cusip>
    <figi>BBG000BJ2D31</figi>
    <value>335754</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1800</Sole>
      <Shared>1800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Simon Property Group Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>828806109</cusip>
    <figi>BBG000BJ2D31</figi>
    <value>3488111</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18700</Sole>
      <Shared>18700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Simulations Plus Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>829214105</cusip>
    <figi>BBG000BS2ZD1</figi>
    <value>1786026</value>
    <shrsOrPrnAmt>
      <sshPrnamt>151102</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>151102</Sole>
      <Shared>151102</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sirius Xm Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>829933100</cusip>
    <figi>BBG01KJQM3Y8</figi>
    <value>371588</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16100</Sole>
      <Shared>16100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sirius Xm Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>829933100</cusip>
    <figi>BBG01KJQM3Y8</figi>
    <value>913968</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39600</Sole>
      <Shared>39600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Site Centers Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>82981J851</cusip>
    <figi>BBG000BGZ832</figi>
    <value>2127627</value>
    <shrsOrPrnAmt>
      <sshPrnamt>394005</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>394005</Sole>
      <Shared>394005</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Siteone Landscape Supply Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>82982L103</cusip>
    <figi>BBG009T22D49</figi>
    <value>346086</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2600</Sole>
      <Shared>2600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Siteone Landscape Supply Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>82982L103</cusip>
    <figi>BBG009T22D49</figi>
    <value>545751</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4100</Sole>
      <Shared>4100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sitime Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>82982T106</cusip>
    <figi>BBG00QNSY1H7</figi>
    <value>22806569</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66039</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>66039</Sole>
      <Shared>66039</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Six Flags Entertainment Corporation - US MLP</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>83001C108</cusip>
    <figi>BBG01K8GRMX6</figi>
    <value>397600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22400</Sole>
      <Shared>22400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SkinHealth Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88331L108</cusip>
    <figi>BBG00XKM1DC3</figi>
    <value>268137</value>
    <shrsOrPrnAmt>
      <sshPrnamt>301277</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>301277</Sole>
      <Shared>301277</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Skywater Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>83089J108</cusip>
    <figi>BBG00ZS44LN7</figi>
    <value>2120191</value>
    <shrsOrPrnAmt>
      <sshPrnamt>77351</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>77351</Sole>
      <Shared>77351</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Skywater Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>83089J108</cusip>
    <figi>BBG00ZS44LN7</figi>
    <value>380999</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13900</Sole>
      <Shared>13900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Skywater Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>83089J108</cusip>
    <figi>BBG00ZS44LN7</figi>
    <value>211057</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7700</Sole>
      <Shared>7700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Skywest Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>830879102</cusip>
    <figi>BBG000BT36X0</figi>
    <value>209556</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2282</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2282</Sole>
      <Shared>2282</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Skyworks Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>83088M102</cusip>
    <figi>BBG000KLB4Q1</figi>
    <value>583695</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10900</Sole>
      <Shared>10900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sl Green Realty Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78440X887</cusip>
    <figi>BBG000BVP5P2</figi>
    <value>676002</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18300</Sole>
      <Shared>18300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sl Green Realty Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78440X887</cusip>
    <figi>BBG000BVP5P2</figi>
    <value>1477600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40000</Sole>
      <Shared>40000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SLB Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>806857108</cusip>
    <figi>BBG000BT41Q8</figi>
    <value>7168905</value>
    <shrsOrPrnAmt>
      <sshPrnamt>139500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>139500</Sole>
      <Shared>139500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SLB Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>806857108</cusip>
    <figi>BBG000BT41Q8</figi>
    <value>20401830</value>
    <shrsOrPrnAmt>
      <sshPrnamt>397000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>397000</Sole>
      <Shared>397000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Slm Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>78442P106</cusip>
    <figi>BBG000BBCQD7</figi>
    <value>18873622</value>
    <shrsOrPrnAmt>
      <sshPrnamt>881533</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>881533</Sole>
      <Shared>881533</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Slm Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78442P106</cusip>
    <figi>BBG000BBCQD7</figi>
    <value>263343</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12300</Sole>
      <Shared>12300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sm Energy Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>78454L100</cusip>
    <figi>BBG000BFV115</figi>
    <value>15092648</value>
    <shrsOrPrnAmt>
      <sshPrnamt>484049</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>484049</Sole>
      <Shared>484049</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sm Energy Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78454L100</cusip>
    <figi>BBG000BFV115</figi>
    <value>969698</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31100</Sole>
      <Shared>31100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sm Energy Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78454L100</cusip>
    <figi>BBG000BFV115</figi>
    <value>1328268</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42600</Sole>
      <Shared>42600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Smartfinancial Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>83190L208</cusip>
    <figi>BBG000BP08R4</figi>
    <value>1785995</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45701</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45701</Sole>
      <Shared>45701</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Smith &amp; Wesson Brands Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>831754106</cusip>
    <figi>BBG000BM0QL7</figi>
    <value>2339501</value>
    <shrsOrPrnAmt>
      <sshPrnamt>163259</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>163259</Sole>
      <Shared>163259</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Snap Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>83304A106</cusip>
    <figi>BBG00441QMJ7</figi>
    <value>3540160</value>
    <shrsOrPrnAmt>
      <sshPrnamt>769600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>769600</Sole>
      <Shared>769600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Snap Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>83304A106</cusip>
    <figi>BBG00441QMJ7</figi>
    <value>594320</value>
    <shrsOrPrnAmt>
      <sshPrnamt>129200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>129200</Sole>
      <Shared>129200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Snap-On Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>833034101</cusip>
    <figi>BBG000BT7JW9</figi>
    <value>3010004</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8287</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8287</Sole>
      <Shared>8287</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Snowflake Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>833445109</cusip>
    <figi>BBG007DHGNJ4</figi>
    <value>22206284</value>
    <shrsOrPrnAmt>
      <sshPrnamt>147237</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>147237</Sole>
      <Shared>147237</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Snowflake Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>833445109</cusip>
    <figi>BBG007DHGNJ4</figi>
    <value>6907556</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45800</Sole>
      <Shared>45800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Snowflake Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>833445109</cusip>
    <figi>BBG007DHGNJ4</figi>
    <value>25579072</value>
    <shrsOrPrnAmt>
      <sshPrnamt>169600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>169600</Sole>
      <Shared>169600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sofi Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>83406F102</cusip>
    <figi>BBG00YB1ZD58</figi>
    <value>4249488</value>
    <shrsOrPrnAmt>
      <sshPrnamt>267600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>267600</Sole>
      <Shared>267600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sofi Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>83406F102</cusip>
    <figi>BBG00YB1ZD58</figi>
    <value>4225668</value>
    <shrsOrPrnAmt>
      <sshPrnamt>266100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>266100</Sole>
      <Shared>266100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Solaredge Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>83417M104</cusip>
    <figi>BBG0084BBZY6</figi>
    <value>33443314</value>
    <shrsOrPrnAmt>
      <sshPrnamt>655109</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>655109</Sole>
      <Shared>655109</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Solaredge Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>83417M104</cusip>
    <figi>BBG0084BBZY6</figi>
    <value>280775</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5500</Sole>
      <Shared>5500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Solaredge Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>83417M104</cusip>
    <figi>BBG0084BBZY6</figi>
    <value>852535</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16700</Sole>
      <Shared>16700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Solaris Energy Infrastructure Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>83418M103</cusip>
    <figi>BBG00G7D6C05</figi>
    <value>508590</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9000</Sole>
      <Shared>9000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Soleno Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>834203309</cusip>
    <figi>BBG0024L5B86</figi>
    <value>1878831</value>
    <shrsOrPrnAmt>
      <sshPrnamt>56118</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>56118</Sole>
      <Shared>56118</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Soleno Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>834203309</cusip>
    <figi>BBG0024L5B86</figi>
    <value>1419552</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42400</Sole>
      <Shared>42400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Solid Power Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>83422N105</cusip>
    <figi>BBG0112HCSY4</figi>
    <value>1272282</value>
    <shrsOrPrnAmt>
      <sshPrnamt>424094</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>424094</Sole>
      <Shared>424094</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Solstice Advanced Materials Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>83443Q103</cusip>
    <figi>BBG01X5744P5</figi>
    <value>19786368</value>
    <shrsOrPrnAmt>
      <sshPrnamt>259800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>259800</Sole>
      <Shared>259800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Solstice Advanced Materials Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>83443Q103</cusip>
    <figi>BBG01X5744P5</figi>
    <value>761600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10000</Sole>
      <Shared>10000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Solv Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>78475V103</cusip>
    <figi>BBG01ZPFR6N2</figi>
    <value>2637925</value>
    <shrsOrPrnAmt>
      <sshPrnamt>87843</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>87843</Sole>
      <Shared>87843</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Somnigroup International Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88023U101</cusip>
    <figi>BBG000PXGT62</figi>
    <value>12596042</value>
    <shrsOrPrnAmt>
      <sshPrnamt>170401</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>170401</Sole>
      <Shared>170401</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sony Group Corp - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>835699307</cusip>
    <figi>BBG000BT7ZK6</figi>
    <value>2073333</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100161</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100161</Sole>
      <Shared>100161</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sony Group Corp - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>835699307</cusip>
    <figi>BBG000BT7ZK6</figi>
    <value>923220</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44600</Sole>
      <Shared>44600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sotera Health Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>83601L102</cusip>
    <figi>BBG008LZG0Z5</figi>
    <value>12119021</value>
    <shrsOrPrnAmt>
      <sshPrnamt>845120</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>845120</Sole>
      <Shared>845120</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SoundHound AI Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>836100107</cusip>
    <figi>BBG017304ND0</figi>
    <value>236328</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34400</Sole>
      <Shared>34400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SoundHound AI Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>836100107</cusip>
    <figi>BBG017304ND0</figi>
    <value>184803</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26900</Sole>
      <Shared>26900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Southern Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>842587107</cusip>
    <figi>BBG000BT9DW0</figi>
    <value>608076</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6300</Sole>
      <Shared>6300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Southern Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>842587107</cusip>
    <figi>BBG000BT9DW0</figi>
    <value>4632960</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>48000</Sole>
      <Shared>48000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Southern Copper Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>84265V105</cusip>
    <figi>BBG000BSHH72</figi>
    <value>2718548</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15800</Sole>
      <Shared>15800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Southern Copper Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>84265V105</cusip>
    <figi>BBG000BSHH72</figi>
    <value>2030308</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11800</Sole>
      <Shared>11800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Southland Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Warrant / Rights</titleOfClass>
    <cusip>84445C118</cusip>
    <figi>BBG0146YPWG4</figi>
    <value>2625</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>75000</Sole>
      <Shared>75000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SouthState Bank Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>84472E102</cusip>
    <figi>BBG000BNPYN9</figi>
    <value>269788</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2916</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2916</Sole>
      <Shared>2916</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Southwest Airlines Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>844741108</cusip>
    <figi>BBG000BNJHS8</figi>
    <value>7314729</value>
    <shrsOrPrnAmt>
      <sshPrnamt>194696</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>194696</Sole>
      <Shared>194696</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Southwest Airlines Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>844741108</cusip>
    <figi>BBG000BNJHS8</figi>
    <value>4508400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>120000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>120000</Sole>
      <Shared>120000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Southwest Airlines Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>844741108</cusip>
    <figi>BBG000BNJHS8</figi>
    <value>5571631</value>
    <shrsOrPrnAmt>
      <sshPrnamt>148300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>148300</Sole>
      <Shared>148300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Spartacus Acquisition Corp II - US Unit</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G8303R126</cusip>
    <figi>BBG01Z8CLKP1</figi>
    <value>3763125</value>
    <shrsOrPrnAmt>
      <sshPrnamt>375000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>375000</Sole>
      <Shared>375000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR Gold MiniShares Trust - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>98149E303</cusip>
    <figi>BBG00L8YYP89</figi>
    <value>8953483</value>
    <shrsOrPrnAmt>
      <sshPrnamt>96596</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>96596</Sole>
      <Shared>96596</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Spdr Gold Shares - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>78463V107</cusip>
    <figi>BBG000CRF6Q8</figi>
    <value>574824411</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1335900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1335900</Sole>
      <Shared>1335900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Spdr Gold Shares - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>78463V107</cusip>
    <figi>BBG000CRF6Q8</figi>
    <value>532311759</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1237100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1237100</Sole>
      <Shared>1237100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Spdr Gold Shares - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>78463V107</cusip>
    <figi>BBG000CRF6Q8</figi>
    <value>116136132</value>
    <shrsOrPrnAmt>
      <sshPrnamt>269902</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>269902</Sole>
      <Shared>269902</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sphere Entertainment Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>55826T102</cusip>
    <figi>BBG00L9HLWV8</figi>
    <value>3028920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25800</Sole>
      <Shared>25800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sphere Entertainment Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>55826T102</cusip>
    <figi>BBG00L9HLWV8</figi>
    <value>1819700</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15500</Sole>
      <Shared>15500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Spire Global Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>848560306</cusip>
    <figi>BBG00WCNHBW7</figi>
    <value>3326529</value>
    <shrsOrPrnAmt>
      <sshPrnamt>264430</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>264430</Sole>
      <Shared>264430</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Spire Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>84857L101</cusip>
    <figi>BBG000BN6KG8</figi>
    <value>2542092</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28077</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28077</Sole>
      <Shared>28077</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sportradar Holding Ag - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>H8088L103</cusip>
    <figi>BBG0125CMRW3</figi>
    <value>399333</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23855</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23855</Sole>
      <Shared>23855</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sportradar Holding Ag - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H8088L103</cusip>
    <figi>BBG0125CMRW3</figi>
    <value>177444</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10600</Sole>
      <Shared>10600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Spotify Technology Sa - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>L8681T102</cusip>
    <figi>BBG003T4VFC2</figi>
    <value>872353</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1799</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1799</Sole>
      <Shared>1799</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Spotify Technology Sa - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>L8681T102</cusip>
    <figi>BBG003T4VFC2</figi>
    <value>8825362</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18200</Sole>
      <Shared>18200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Spotify Technology Sa - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>L8681T102</cusip>
    <figi>BBG003T4VFC2</figi>
    <value>12995588</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26800</Sole>
      <Shared>26800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sprinklr Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>85208T107</cusip>
    <figi>BBG0043NCD05</figi>
    <value>3249678</value>
    <shrsOrPrnAmt>
      <sshPrnamt>541613</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>541613</Sole>
      <Shared>541613</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sprott Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>852066208</cusip>
    <figi>BBG000VX8S02</figi>
    <value>514440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3600</Sole>
      <Shared>3600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sprott Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>852066208</cusip>
    <figi>BBG000VX8S02</figi>
    <value>2400720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16800</Sole>
      <Shared>16800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sprouts Farmers Market Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>85208M102</cusip>
    <figi>BBG001KFKQM7</figi>
    <value>1297249</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16819</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16819</Sole>
      <Shared>16819</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sprouts Farmers Market Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>85208M102</cusip>
    <figi>BBG001KFKQM7</figi>
    <value>1866546</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24200</Sole>
      <Shared>24200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sprouts Farmers Market Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>85208M102</cusip>
    <figi>BBG001KFKQM7</figi>
    <value>4720356</value>
    <shrsOrPrnAmt>
      <sshPrnamt>61200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>61200</Sole>
      <Shared>61200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPX Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78473E103</cusip>
    <figi>BBG000BTGCV5</figi>
    <value>4498650</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22500</Sole>
      <Shared>22500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPX Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78473E103</cusip>
    <figi>BBG000BTGCV5</figi>
    <value>4498650</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22500</Sole>
      <Shared>22500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Spyre Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>00773J202</cusip>
    <figi>BBG0067L94B2</figi>
    <value>421880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8364</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8364</Sole>
      <Shared>8364</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ss&amp;C Technologies Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>78467J100</cusip>
    <figi>BBG000RJ2J04</figi>
    <value>29098818</value>
    <shrsOrPrnAmt>
      <sshPrnamt>430647</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>430647</Sole>
      <Shared>430647</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ss&amp;C Technologies Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>78467J100</cusip>
    <figi>BBG000RJ2J04</figi>
    <value>3729864</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>55200</Sole>
      <Shared>55200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ssr Mining Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>784730103</cusip>
    <figi>BBG000C0RWX9</figi>
    <value>309317</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10521</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10521</Sole>
      <Shared>10521</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ssr Mining Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>784730103</cusip>
    <figi>BBG000C0RWX9</figi>
    <value>796740</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27100</Sole>
      <Shared>27100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Staar Surgical Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>852312305</cusip>
    <figi>BBG000C4QB95</figi>
    <value>974457</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52110</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52110</Sole>
      <Shared>52110</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Standard Lithium Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>853606101</cusip>
    <figi>BBG00GNRHX08</figi>
    <value>6054189</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1775422</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1775422</Sole>
      <Shared>1775422</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stanley Black &amp; Decker Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>854502101</cusip>
    <figi>BBG000BTQR96</figi>
    <value>8006259</value>
    <shrsOrPrnAmt>
      <sshPrnamt>112669</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>112669</Sole>
      <Shared>112669</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stanley Black &amp; Decker Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>854502101</cusip>
    <figi>BBG000BTQR96</figi>
    <value>1215126</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17100</Sole>
      <Shared>17100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stanley Black &amp; Decker Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>854502101</cusip>
    <figi>BBG000BTQR96</figi>
    <value>2607902</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36700</Sole>
      <Shared>36700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Star Bulk Carriers Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>Y8162K204</cusip>
    <figi>BBG000L5R950</figi>
    <value>16883180</value>
    <shrsOrPrnAmt>
      <sshPrnamt>735010</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>735010</Sole>
      <Shared>735010</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Starbucks Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>855244109</cusip>
    <figi>BBG000CTQBF3</figi>
    <value>4497418</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50200</Sole>
      <Shared>50200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Starbucks Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>855244109</cusip>
    <figi>BBG000CTQBF3</figi>
    <value>11476479</value>
    <shrsOrPrnAmt>
      <sshPrnamt>128100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>128100</Sole>
      <Shared>128100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Starwood Property Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>85571B105</cusip>
    <figi>BBG000M1J270</figi>
    <value>1026949</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59637</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>59637</Sole>
      <Shared>59637</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Starwood Property Trust Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>85571B105</cusip>
    <figi>BBG000M1J270</figi>
    <value>191142</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11100</Sole>
      <Shared>11100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Communication Services Select Sector</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>81369Y852</cusip>
    <figi>BBG00L5F9F38</figi>
    <value>1817882</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16398</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16398</Sole>
      <Shared>16398</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Consumer Discretionary Select Sector</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y407</cusip>
    <figi>BBG000BJ1MF9</figi>
    <value>25937240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>238000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>238000</Sole>
      <Shared>238000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Consumer Discretionary Select Sector</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y407</cusip>
    <figi>BBG000BJ1MF9</figi>
    <value>76591144</value>
    <shrsOrPrnAmt>
      <sshPrnamt>702800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>702800</Sole>
      <Shared>702800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Consumer Discretionary Select Sector</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>81369Y407</cusip>
    <figi>BBG000BJ1MF9</figi>
    <value>27978326</value>
    <shrsOrPrnAmt>
      <sshPrnamt>256729</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>256729</Sole>
      <Shared>256729</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Consumer Staples Select Sector SPDR E</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y308</cusip>
    <figi>BBG000BJ10N8</figi>
    <value>11157478</value>
    <shrsOrPrnAmt>
      <sshPrnamt>136100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>136100</Sole>
      <Shared>136100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Consumer Staples Select Sector SPDR E</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>81369Y308</cusip>
    <figi>BBG000BJ10N8</figi>
    <value>8571747</value>
    <shrsOrPrnAmt>
      <sshPrnamt>104559</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>104559</Sole>
      <Shared>104559</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>857477103</cusip>
    <figi>BBG000BKFBD7</figi>
    <value>53924432</value>
    <shrsOrPrnAmt>
      <sshPrnamt>426078</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>426078</Sole>
      <Shared>426078</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>857477103</cusip>
    <figi>BBG000BKFBD7</figi>
    <value>847952</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6700</Sole>
      <Shared>6700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Energy Select Sector SPDR ETF - US ET</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y506</cusip>
    <figi>BBG000BJ20S2</figi>
    <value>331294080</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5408000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5408000</Sole>
      <Shared>5408000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Energy Select Sector SPDR ETF - US ET</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y506</cusip>
    <figi>BBG000BJ20S2</figi>
    <value>732375552</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11955200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11955200</Sole>
      <Shared>11955200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Energy Select Sector SPDR ETF - US ET</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>81369Y506</cusip>
    <figi>BBG000BJ20S2</figi>
    <value>24233415</value>
    <shrsOrPrnAmt>
      <sshPrnamt>395583</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>395583</Sole>
      <Shared>395583</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Financial Select Sector SPDR ETF - US</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y605</cusip>
    <figi>BBG000BJ29X7</figi>
    <value>220570349</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4467700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4467700</Sole>
      <Shared>4467700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Financial Select Sector SPDR ETF - US</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y605</cusip>
    <figi>BBG000BJ29X7</figi>
    <value>431582666</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8741800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8741800</Sole>
      <Shared>8741800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Financial Select Sector SPDR ETF - US</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>81369Y605</cusip>
    <figi>BBG000BJ29X7</figi>
    <value>20941075</value>
    <shrsOrPrnAmt>
      <sshPrnamt>424166</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>424166</Sole>
      <Shared>424166</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Health Care Select Sector SPDR ETF -</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y209</cusip>
    <figi>BBG000BHVSG6</figi>
    <value>11508885</value>
    <shrsOrPrnAmt>
      <sshPrnamt>78500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>78500</Sole>
      <Shared>78500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Health Care Select Sector SPDR ETF -</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y209</cusip>
    <figi>BBG000BHVSG6</figi>
    <value>7330500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50000</Sole>
      <Shared>50000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Health Care Select Sector SPDR ETF -</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>81369Y209</cusip>
    <figi>BBG000BHVSG6</figi>
    <value>14558226</value>
    <shrsOrPrnAmt>
      <sshPrnamt>99299</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>99299</Sole>
      <Shared>99299</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Industrial Select Sector SPDR ETF - U</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y704</cusip>
    <figi>BBG000BJ2RF7</figi>
    <value>15590772</value>
    <shrsOrPrnAmt>
      <sshPrnamt>96400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>96400</Sole>
      <Shared>96400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Industrial Select Sector SPDR ETF - U</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>81369Y704</cusip>
    <figi>BBG000BJ2RF7</figi>
    <value>10914673</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67487</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>67487</Sole>
      <Shared>67487</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Materials Select Sector SPDR ETF - US</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y100</cusip>
    <figi>BBG000BHNNF7</figi>
    <value>3632819</value>
    <shrsOrPrnAmt>
      <sshPrnamt>72700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>72700</Sole>
      <Shared>72700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Materials Select Sector SPDR ETF - US</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>81369Y100</cusip>
    <figi>BBG000BHNNF7</figi>
    <value>4188236</value>
    <shrsOrPrnAmt>
      <sshPrnamt>83815</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>83815</Sole>
      <Shared>83815</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR EURO STOXX 50 ETF - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>78463X202</cusip>
    <figi>BBG000PG8230</figi>
    <value>18624000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>300000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>300000</Sole>
      <Shared>300000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR Portfolio Long Term Treasury ETF</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>78464A664</cusip>
    <figi>BBG000RFRG83</figi>
    <value>305922</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11632</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11632</Sole>
      <Shared>11632</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR Portfolio S&amp;P 1500 Composite Sto</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>78464A805</cusip>
    <figi>BBG000CFPXT1</figi>
    <value>2814694</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35602</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35602</Sole>
      <Shared>35602</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR Portfolio S&amp;P 500 ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>78464A854</cusip>
    <figi>BBG000KMT5K3</figi>
    <value>6762003</value>
    <shrsOrPrnAmt>
      <sshPrnamt>88346</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>88346</Sole>
      <Shared>88346</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR Portfolio S&amp;P 500 Growth ETF - U</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>78464A409</cusip>
    <figi>BBG000BLH653</figi>
    <value>5127253</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52367</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52367</Sole>
      <Shared>52367</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P 500 ETF Trust - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>78462F103</cusip>
    <figi>BBG000BDTBL9</figi>
    <value>1112081400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1710000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1710000</Sole>
      <Shared>1710000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P 500 ETF Trust - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>78462F103</cusip>
    <figi>BBG000BDTBL9</figi>
    <value>22761900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35000</Sole>
      <Shared>35000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P 500 ETF Trust - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>78462F103</cusip>
    <figi>BBG000BDTBL9</figi>
    <value>727803948</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1119113</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1119113</Sole>
      <Shared>1119113</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Aerospace &amp; Defense ETF - US</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>78464A631</cusip>
    <figi>BBG0024LG845</figi>
    <value>507960</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2000</Sole>
      <Shared>2000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Bank ETF - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>78464A797</cusip>
    <figi>BBG000KMKPY3</figi>
    <value>7443750</value>
    <shrsOrPrnAmt>
      <sshPrnamt>125000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>125000</Sole>
      <Shared>125000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Biotech ETF - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>78464A870</cusip>
    <figi>BBG000MQQ963</figi>
    <value>42470225</value>
    <shrsOrPrnAmt>
      <sshPrnamt>332500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>332500</Sole>
      <Shared>332500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Biotech ETF - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>78464A870</cusip>
    <figi>BBG000MQQ963</figi>
    <value>37233295</value>
    <shrsOrPrnAmt>
      <sshPrnamt>291500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>291500</Sole>
      <Shared>291500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Dividend ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>78464A763</cusip>
    <figi>BBG000KN18M3</figi>
    <value>722987</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4954</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4954</Sole>
      <Shared>4954</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Homebuilders ETF - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>78464A888</cusip>
    <figi>BBG000MQSW88</figi>
    <value>39488000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>400000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>400000</Sole>
      <Shared>400000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Homebuilders ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>78464A888</cusip>
    <figi>BBG000MQSW88</figi>
    <value>2468197</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25002</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25002</Sole>
      <Shared>25002</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Insurance ETF - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>78464A789</cusip>
    <figi>BBG000KMNWV8</figi>
    <value>3300000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60000</Sole>
      <Shared>60000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Metals &amp; Mining ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>78464A755</cusip>
    <figi>BBG000D83WR4</figi>
    <value>540050</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5000</Sole>
      <Shared>5000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Oil &amp; Gas Exploration &amp; Prod</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>78468R556</cusip>
    <figi>BBG000BGB482</figi>
    <value>49003185</value>
    <shrsOrPrnAmt>
      <sshPrnamt>269500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>269500</Sole>
      <Shared>269500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Oil &amp; Gas Exploration &amp; Prod</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>78468R556</cusip>
    <figi>BBG000BGB482</figi>
    <value>219905202</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1209400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1209400</Sole>
      <Shared>1209400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Oil &amp; Gas Exploration &amp; Prod</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>78468R556</cusip>
    <figi>BBG000BGB482</figi>
    <value>13044302</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71739</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>71739</Sole>
      <Shared>71739</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Regional Banking ETF - US ET</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>78464A698</cusip>
    <figi>BBG000D82H52</figi>
    <value>58146375</value>
    <shrsOrPrnAmt>
      <sshPrnamt>892500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>892500</Sole>
      <Shared>892500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Regional Banking ETF - US ET</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>78464A698</cusip>
    <figi>BBG000D82H52</figi>
    <value>395480045</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6070300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6070300</Sole>
      <Shared>6070300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Regional Banking ETF - US ET</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>78464A698</cusip>
    <figi>BBG000D82H52</figi>
    <value>5790858</value>
    <shrsOrPrnAmt>
      <sshPrnamt>88885</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>88885</Sole>
      <Shared>88885</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street SPDR S&amp;P Retail ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>78464A714</cusip>
    <figi>BBG000D80VV4</figi>
    <value>4556533</value>
    <shrsOrPrnAmt>
      <sshPrnamt>56624</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>56624</Sole>
      <Shared>56624</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Technology Select Sector SPDR ETF - U</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y803</cusip>
    <figi>BBG000BJ7007</figi>
    <value>110838600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>834000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>834000</Sole>
      <Shared>834000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Technology Select Sector SPDR ETF - U</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y803</cusip>
    <figi>BBG000BJ7007</figi>
    <value>231937080</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1745200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1745200</Sole>
      <Shared>1745200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Technology Select Sector SPDR ETF - U</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>81369Y803</cusip>
    <figi>BBG000BJ7007</figi>
    <value>321751</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2421</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2421</Sole>
      <Shared>2421</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Utilities Select Sector SPDR ETF - US</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y886</cusip>
    <figi>BBG000BJ7G75</figi>
    <value>56068402</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1221800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1221800</Sole>
      <Shared>1221800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Utilities Select Sector SPDR ETF - US</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>81369Y886</cusip>
    <figi>BBG000BJ7G75</figi>
    <value>326622075</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7117500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7117500</Sole>
      <Shared>7117500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>State Street Utilities Select Sector SPDR ETF - US</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>81369Y886</cusip>
    <figi>BBG000BJ7G75</figi>
    <value>10148803</value>
    <shrsOrPrnAmt>
      <sshPrnamt>221155</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>221155</Sole>
      <Shared>221155</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Steel Dynamics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>858119100</cusip>
    <figi>BBG000HGYNZ9</figi>
    <value>1422000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7900</Sole>
      <Shared>7900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Steel Dynamics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>858119100</cusip>
    <figi>BBG000HGYNZ9</figi>
    <value>3474000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19300</Sole>
      <Shared>19300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stellar Bancorp Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>858927106</cusip>
    <figi>BBG00HZ69KP9</figi>
    <value>905548</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24735</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24735</Sole>
      <Shared>24735</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stepstone Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>85914M107</cusip>
    <figi>BBG00WXXV032</figi>
    <value>2639727</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55317</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>55317</Sole>
      <Shared>55317</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Steris Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G8473T100</cusip>
    <figi>BBG00MRHG523</figi>
    <value>12336400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55788</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>55788</Sole>
      <Shared>55788</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sterling Infrastructure Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>859241101</cusip>
    <figi>BBG000JD6TN5</figi>
    <value>285089</value>
    <shrsOrPrnAmt>
      <sshPrnamt>700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>700</Sole>
      <Shared>700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Steven Madden Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>556269108</cusip>
    <figi>BBG000BLV2Q3</figi>
    <value>4072198</value>
    <shrsOrPrnAmt>
      <sshPrnamt>120053</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>120053</Sole>
      <Shared>120053</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stifel Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>860630102</cusip>
    <figi>BBG000BSS5C0</figi>
    <value>36213925</value>
    <shrsOrPrnAmt>
      <sshPrnamt>489907</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>489907</Sole>
      <Shared>489907</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stitch Fix Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>860897107</cusip>
    <figi>BBG0046L1KL9</figi>
    <value>424385</value>
    <shrsOrPrnAmt>
      <sshPrnamt>128213</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>128213</Sole>
      <Shared>128213</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stmicroelectronics Nv - US NY Reg Shrs</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>861012102</cusip>
    <figi>BBG000BD4GX2</figi>
    <value>1005854</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29113</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29113</Sole>
      <Shared>29113</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stmicroelectronics Nv - US NY Reg Shrs</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>861012102</cusip>
    <figi>BBG000BD4GX2</figi>
    <value>2753635</value>
    <shrsOrPrnAmt>
      <sshPrnamt>79700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>79700</Sole>
      <Shared>79700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stmicroelectronics Nv - US NY Reg Shrs</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>861012102</cusip>
    <figi>BBG000BD4GX2</figi>
    <value>2041905</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>59100</Sole>
      <Shared>59100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stock Yards Bancorp Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>861025104</cusip>
    <figi>BBG000FLKSG5</figi>
    <value>9958614</value>
    <shrsOrPrnAmt>
      <sshPrnamt>150228</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>150228</Sole>
      <Shared>150228</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stoneco Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G85158106</cusip>
    <figi>BBG00M4ZQDK0</figi>
    <value>201168</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14247</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14247</Sole>
      <Shared>14247</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stoneco Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G85158106</cusip>
    <figi>BBG00M4ZQDK0</figi>
    <value>151084</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10700</Sole>
      <Shared>10700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stoneridge Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>86183P102</cusip>
    <figi>BBG000BB9Q78</figi>
    <value>618684</value>
    <shrsOrPrnAmt>
      <sshPrnamt>128092</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>128092</Sole>
      <Shared>128092</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stratasys Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>M85548101</cusip>
    <figi>BBG002S5ZRF9</figi>
    <value>1637249</value>
    <shrsOrPrnAmt>
      <sshPrnamt>209635</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>209635</Sole>
      <Shared>209635</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Strategic Education Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>86272C103</cusip>
    <figi>BBG000GRZDV1</figi>
    <value>3316824</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39981</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39981</Sole>
      <Shared>39981</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Strategic Education Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>86272C103</cusip>
    <figi>BBG000GRZDV1</figi>
    <value>1327360</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16000</Sole>
      <Shared>16000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Strategy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>594972408</cusip>
    <figi>BBG000GQJPZ0</figi>
    <value>35730240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>286300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>286300</Sole>
      <Shared>286300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Strategy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>594972408</cusip>
    <figi>BBG000GQJPZ0</figi>
    <value>48584640</value>
    <shrsOrPrnAmt>
      <sshPrnamt>389300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>389300</Sole>
      <Shared>389300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stride Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>86333M108</cusip>
    <figi>BBG000QSXPZ9</figi>
    <value>370314</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4200</Sole>
      <Shared>4200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Strive Inc - US Class B</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>862945300</cusip>
    <figi>BBG019HGLML0</figi>
    <value>1573140</value>
    <shrsOrPrnAmt>
      <sshPrnamt>157000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>157000</Sole>
      <Shared>157000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Structure Therapeutics Inc - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>86366E106</cusip>
    <figi>BBG01CBVHLW1</figi>
    <value>3629508</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75301</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>75301</Sole>
      <Shared>75301</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stryker Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>863667101</cusip>
    <figi>BBG000DN7P92</figi>
    <value>450168</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1370</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1370</Sole>
      <Shared>1370</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stryker Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>863667101</cusip>
    <figi>BBG000DN7P92</figi>
    <value>427167</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1300</Sole>
      <Shared>1300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Stryker Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>863667101</cusip>
    <figi>BBG000DN7P92</figi>
    <value>3088746</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9400</Sole>
      <Shared>9400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sturm Ruger &amp; Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>864159108</cusip>
    <figi>BBG000C4FQG6</figi>
    <value>777746</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19400</Sole>
      <Shared>19400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sturm Ruger &amp; Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>864159108</cusip>
    <figi>BBG000C4FQG6</figi>
    <value>5107466</value>
    <shrsOrPrnAmt>
      <sshPrnamt>127400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>127400</Sole>
      <Shared>127400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Summit Hotel Properties Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>866082100</cusip>
    <figi>BBG0014KPS18</figi>
    <value>984692</value>
    <shrsOrPrnAmt>
      <sshPrnamt>222781</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>222781</Sole>
      <Shared>222781</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Summit Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>86627T108</cusip>
    <figi>BBG00X3GQL76</figi>
    <value>7299372</value>
    <shrsOrPrnAmt>
      <sshPrnamt>384988</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>384988</Sole>
      <Shared>384988</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Summit Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>86627T108</cusip>
    <figi>BBG00X3GQL76</figi>
    <value>191496</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10100</Sole>
      <Shared>10100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Suncoke Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>86722A103</cusip>
    <figi>BBG000R1YXQ9</figi>
    <value>1112494</value>
    <shrsOrPrnAmt>
      <sshPrnamt>170890</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>170890</Sole>
      <Shared>170890</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Suncor Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>867224107</cusip>
    <figi>BBG000BRK7L6</figi>
    <value>2436881</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36861</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36861</Sole>
      <Shared>36861</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Suncor Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>867224107</cusip>
    <figi>BBG000BRK7L6</figi>
    <value>350383</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5300</Sole>
      <Shared>5300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Suncor Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>867224107</cusip>
    <figi>BBG000BRK7L6</figi>
    <value>5526796</value>
    <shrsOrPrnAmt>
      <sshPrnamt>83600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>83600</Sole>
      <Shared>83600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sunococorp LLC - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>86765Q106</cusip>
    <figi>BBG01Y78HCT3</figi>
    <value>9452486</value>
    <shrsOrPrnAmt>
      <sshPrnamt>153325</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>153325</Sole>
      <Shared>153325</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sunrun Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>86771W105</cusip>
    <figi>BBG0025XVR85</figi>
    <value>10944832</value>
    <shrsOrPrnAmt>
      <sshPrnamt>807141</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>807141</Sole>
      <Shared>807141</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sunrun Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>86771W105</cusip>
    <figi>BBG0025XVR85</figi>
    <value>138312</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10200</Sole>
      <Shared>10200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sunrun Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>86771W105</cusip>
    <figi>BBG0025XVR85</figi>
    <value>5528412</value>
    <shrsOrPrnAmt>
      <sshPrnamt>407700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>407700</Sole>
      <Shared>407700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sunstone Hotel Investors Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>867892101</cusip>
    <figi>BBG000Q3TSJ1</figi>
    <value>206906</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22964</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22964</Sole>
      <Shared>22964</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Super Group Sghc Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G8588X103</cusip>
    <figi>BBG014V541D3</figi>
    <value>577973</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53516</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>53516</Sole>
      <Shared>53516</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Super Group Sghc Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G8588X103</cusip>
    <figi>BBG014V541D3</figi>
    <value>237600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22000</Sole>
      <Shared>22000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Super Micro Computer Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>86800U302</cusip>
    <figi>BBG000MYZDJ3</figi>
    <value>10103049</value>
    <shrsOrPrnAmt>
      <sshPrnamt>443700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>443700</Sole>
      <Shared>443700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Super Micro Computer Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>86800U302</cusip>
    <figi>BBG000MYZDJ3</figi>
    <value>16130268</value>
    <shrsOrPrnAmt>
      <sshPrnamt>708400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>708400</Sole>
      <Shared>708400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Super Micro Computer Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>86800UAB0</cusip>
    <figi>BBG01LNV6CT4</figi>
    <value>65003400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>80850000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>80850000</Sole>
      <Shared>80850000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SuperX AI Technology Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G5294K110</cusip>
    <figi>BBG018RDCZ93</figi>
    <value>138304</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17288</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17288</Sole>
      <Shared>17288</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Surgery Partners Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>86881A100</cusip>
    <figi>BBG009T0TKV8</figi>
    <value>3220224</value>
    <shrsOrPrnAmt>
      <sshPrnamt>270153</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>270153</Sole>
      <Shared>270153</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Suzano Sa - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>86959K105</cusip>
    <figi>BBG000PLJG90</figi>
    <value>232873</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23264</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23264</Sole>
      <Shared>23264</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sweetgreen Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>87043Q108</cusip>
    <figi>BBG005NTTSP9</figi>
    <value>3096297</value>
    <shrsOrPrnAmt>
      <sshPrnamt>596589</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>596589</Sole>
      <Shared>596589</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sweetgreen Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87043Q108</cusip>
    <figi>BBG005NTTSP9</figi>
    <value>61761</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11900</Sole>
      <Shared>11900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Symbotic Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>87151X101</cusip>
    <figi>BBG00Z72HCV1</figi>
    <value>7858810</value>
    <shrsOrPrnAmt>
      <sshPrnamt>147722</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>147722</Sole>
      <Shared>147722</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Symbotic Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87151X101</cusip>
    <figi>BBG00Z72HCV1</figi>
    <value>409640</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7700</Sole>
      <Shared>7700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Synaptics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87157D109</cusip>
    <figi>BBG000BQV1S2</figi>
    <value>322184</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4600</Sole>
      <Shared>4600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Synchrony Financial - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>87165B103</cusip>
    <figi>BBG00658F3P3</figi>
    <value>8985102</value>
    <shrsOrPrnAmt>
      <sshPrnamt>132095</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>132095</Sole>
      <Shared>132095</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Synchrony Financial - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87165B103</cusip>
    <figi>BBG00658F3P3</figi>
    <value>319694</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4700</Sole>
      <Shared>4700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Syndax Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>87164F105</cusip>
    <figi>BBG000R33JY1</figi>
    <value>1613218</value>
    <shrsOrPrnAmt>
      <sshPrnamt>69059</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>69059</Sole>
      <Shared>69059</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Synopsys Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>871607107</cusip>
    <figi>BBG000BSFRF3</figi>
    <value>13245604</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33408</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33408</Sole>
      <Shared>33408</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Synopsys Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>871607107</cusip>
    <figi>BBG000BSFRF3</figi>
    <value>2022048</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5100</Sole>
      <Shared>5100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Synopsys Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>871607107</cusip>
    <figi>BBG000BSFRF3</figi>
    <value>5431776</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13700</Sole>
      <Shared>13700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sysco Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>871829107</cusip>
    <figi>BBG000BTVJ25</figi>
    <value>7367890</value>
    <shrsOrPrnAmt>
      <sshPrnamt>103293</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>103293</Sole>
      <Shared>103293</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sysco Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>871829107</cusip>
    <figi>BBG000BTVJ25</figi>
    <value>449379</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6300</Sole>
      <Shared>6300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Sysco Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>871829107</cusip>
    <figi>BBG000BTVJ25</figi>
    <value>2040038</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28600</Sole>
      <Shared>28600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>T Rowe Price Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>74144T108</cusip>
    <figi>BBG000BVMPN3</figi>
    <value>12858651</value>
    <shrsOrPrnAmt>
      <sshPrnamt>142652</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>142652</Sole>
      <Shared>142652</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>T Rowe Price Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74144T108</cusip>
    <figi>BBG000BVMPN3</figi>
    <value>1243932</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13800</Sole>
      <Shared>13800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>T Rowe Price Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>74144T108</cusip>
    <figi>BBG000BVMPN3</figi>
    <value>1874912</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20800</Sole>
      <Shared>20800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>T1 Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>35834F104</cusip>
    <figi>BBG01KR6BS70</figi>
    <value>2964931</value>
    <shrsOrPrnAmt>
      <sshPrnamt>675383</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>675383</Sole>
      <Shared>675383</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Taiwan Semiconductor Manufacturing Co Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>874039100</cusip>
    <figi>BBG000BD8ZK0</figi>
    <value>105084539</value>
    <shrsOrPrnAmt>
      <sshPrnamt>310947</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>310947</Sole>
      <Shared>310947</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Taiwan Semiconductor Manufacturing Co Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>874039100</cusip>
    <figi>BBG000BD8ZK0</figi>
    <value>94017690</value>
    <shrsOrPrnAmt>
      <sshPrnamt>278200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>278200</Sole>
      <Shared>278200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Taiwan Semiconductor Manufacturing Co Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>874039100</cusip>
    <figi>BBG000BD8ZK0</figi>
    <value>332171055</value>
    <shrsOrPrnAmt>
      <sshPrnamt>982900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>982900</Sole>
      <Shared>982900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Take-Two Interactive Software Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>874054109</cusip>
    <figi>BBG000BS1YV5</figi>
    <value>4311820</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21832</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21832</Sole>
      <Shared>21832</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Take-Two Interactive Software Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>874054109</cusip>
    <figi>BBG000BS1YV5</figi>
    <value>612250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3100</Sole>
      <Shared>3100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Take-Two Interactive Software Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>874054109</cusip>
    <figi>BBG000BS1YV5</figi>
    <value>7623500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38600</Sole>
      <Shared>38600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Talen Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87422Q109</cusip>
    <figi>BBG01GWQVVD3</figi>
    <value>255384</value>
    <shrsOrPrnAmt>
      <sshPrnamt>800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>800</Sole>
      <Shared>800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Talen Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87422Q109</cusip>
    <figi>BBG01GWQVVD3</figi>
    <value>5426910</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17000</Sole>
      <Shared>17000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Talos Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>87484T108</cusip>
    <figi>BBG00JPH4HQ3</figi>
    <value>7105853</value>
    <shrsOrPrnAmt>
      <sshPrnamt>450879</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>450879</Sole>
      <Shared>450879</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tandem Diabetes Care Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>875372203</cusip>
    <figi>BBG0019V9M65</figi>
    <value>1514411</value>
    <shrsOrPrnAmt>
      <sshPrnamt>78999</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>78999</Sole>
      <Shared>78999</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tapestry Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>876030107</cusip>
    <figi>BBG000BY29C7</figi>
    <value>451552</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3200</Sole>
      <Shared>3200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tapestry Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>876030107</cusip>
    <figi>BBG000BY29C7</figi>
    <value>1171213</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8300</Sole>
      <Shared>8300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Targa Resources Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87612G101</cusip>
    <figi>BBG0015XMW40</figi>
    <value>827409</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3300</Sole>
      <Shared>3300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Targa Resources Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87612G101</cusip>
    <figi>BBG0015XMW40</figi>
    <value>1679891</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6700</Sole>
      <Shared>6700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Target Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87612E106</cusip>
    <figi>BBG000H8TVT2</figi>
    <value>5963040</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49200</Sole>
      <Shared>49200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Target Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87612E106</cusip>
    <figi>BBG000H8TVT2</figi>
    <value>34614720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>285600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>285600</Sole>
      <Shared>285600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Taseko Mines Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>876511106</cusip>
    <figi>BBG000BCTV91</figi>
    <value>12470114</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1933351</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1933351</Sole>
      <Shared>1933351</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Taylor Morrison Home Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>87724P106</cusip>
    <figi>BBG003PGJHP5</figi>
    <value>10988723</value>
    <shrsOrPrnAmt>
      <sshPrnamt>188680</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>188680</Sole>
      <Shared>188680</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Taysha Gene Therapies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>877619106</cusip>
    <figi>BBG00TJXFDP1</figi>
    <value>641780</value>
    <shrsOrPrnAmt>
      <sshPrnamt>143575</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>143575</Sole>
      <Shared>143575</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tc Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>87807B107</cusip>
    <figi>BBG000BVN235</figi>
    <value>1470474</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23490</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23490</Sole>
      <Shared>23490</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tc Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87807B107</cusip>
    <figi>BBG000BVN235</figi>
    <value>244140</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3900</Sole>
      <Shared>3900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tc Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87807B107</cusip>
    <figi>BBG000BVN235</figi>
    <value>475760</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7600</Sole>
      <Shared>7600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Te Connectivity Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G87052109</cusip>
    <figi>BBG01Q08MMR1</figi>
    <value>59896144</value>
    <shrsOrPrnAmt>
      <sshPrnamt>286557</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>286557</Sole>
      <Shared>286557</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Te Connectivity Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G87052109</cusip>
    <figi>BBG01Q08MMR1</figi>
    <value>752472</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3600</Sole>
      <Shared>3600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Technipfmc Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G87110105</cusip>
    <figi>BBG00DL8NMV2</figi>
    <value>6658878</value>
    <shrsOrPrnAmt>
      <sshPrnamt>96324</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>96324</Sole>
      <Shared>96324</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Technipfmc Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G87110105</cusip>
    <figi>BBG00DL8NMV2</figi>
    <value>5834572</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>84400</Sole>
      <Shared>84400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Technipfmc Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G87110105</cusip>
    <figi>BBG00DL8NMV2</figi>
    <value>7196433</value>
    <shrsOrPrnAmt>
      <sshPrnamt>104100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>104100</Sole>
      <Shared>104100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teck Resources Ltd - US Class B</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>878742204</cusip>
    <figi>BBG000BSJTT0</figi>
    <value>147417689</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2848651</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2848651</Sole>
      <Shared>2848651</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teck Resources Ltd - US Class B</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>878742204</cusip>
    <figi>BBG000BSJTT0</figi>
    <value>1795725</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34700</Sole>
      <Shared>34700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teekay Corp Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G8726T105</cusip>
    <figi>BBG000BLCJG8</figi>
    <value>1642526</value>
    <shrsOrPrnAmt>
      <sshPrnamt>134523</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>134523</Sole>
      <Shared>134523</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teekay Tankers Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G8726X106</cusip>
    <figi>BBG000QRMZH1</figi>
    <value>16062506</value>
    <shrsOrPrnAmt>
      <sshPrnamt>219074</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>219074</Sole>
      <Shared>219074</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teladoc Health Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87918A105</cusip>
    <figi>BBG0019T5SG0</figi>
    <value>85565</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15700</Sole>
      <Shared>15700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Telephone And Data Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>879433829</cusip>
    <figi>BBG000BV0VK7</figi>
    <value>2216018</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52637</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52637</Sole>
      <Shared>52637</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Telos Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>87969B101</cusip>
    <figi>BBG000BK34C7</figi>
    <value>695414</value>
    <shrsOrPrnAmt>
      <sshPrnamt>165970</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>165970</Sole>
      <Shared>165970</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tempus AI Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88023B103</cusip>
    <figi>BBG01MZQYJF9</figi>
    <value>1218001</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26935</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26935</Sole>
      <Shared>26935</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tempus AI Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88023B103</cusip>
    <figi>BBG01MZQYJF9</figi>
    <value>3708040</value>
    <shrsOrPrnAmt>
      <sshPrnamt>82000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>82000</Sole>
      <Shared>82000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tempus AI Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88023B103</cusip>
    <figi>BBG01MZQYJF9</figi>
    <value>3617600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>80000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>80000</Sole>
      <Shared>80000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tenable Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88025T102</cusip>
    <figi>BBG00LBLCD02</figi>
    <value>532825</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31500</Sole>
      <Shared>31500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tencent Music Entertainment Group - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88034P109</cusip>
    <figi>BBG00LDC5RK5</figi>
    <value>98368</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10600</Sole>
      <Shared>10600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tenet Healthcare Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88033G407</cusip>
    <figi>BBG000CPHYL4</figi>
    <value>5208396</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27600</Sole>
      <Shared>27600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tenet Healthcare Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88033G407</cusip>
    <figi>BBG000CPHYL4</figi>
    <value>301936</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1600</Sole>
      <Shared>1600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teradyne Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>880770102</cusip>
    <figi>BBG000BV4DR6</figi>
    <value>61406946</value>
    <shrsOrPrnAmt>
      <sshPrnamt>207134</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>207134</Sole>
      <Shared>207134</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teradyne Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>880770102</cusip>
    <figi>BBG000BV4DR6</figi>
    <value>15060168</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50800</Sole>
      <Shared>50800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teradyne Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>880770102</cusip>
    <figi>BBG000BV4DR6</figi>
    <value>8745570</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29500</Sole>
      <Shared>29500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Terawulf Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88080T104</cusip>
    <figi>BBG0122MC900</figi>
    <value>2481917</value>
    <shrsOrPrnAmt>
      <sshPrnamt>171997</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>171997</Sole>
      <Shared>171997</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Terawulf Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88080T104</cusip>
    <figi>BBG0122MC900</figi>
    <value>11640681</value>
    <shrsOrPrnAmt>
      <sshPrnamt>806700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>806700</Sole>
      <Shared>806700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Terawulf Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88080T104</cusip>
    <figi>BBG0122MC900</figi>
    <value>6753240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>468000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>468000</Sole>
      <Shared>468000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Terex Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>880779103</cusip>
    <figi>BBG000C7B436</figi>
    <value>1975831</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33432</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33432</Sole>
      <Shared>33432</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Terns Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>880881107</cusip>
    <figi>BBG00KK1SJ08</figi>
    <value>14103654</value>
    <shrsOrPrnAmt>
      <sshPrnamt>267520</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>267520</Sole>
      <Shared>267520</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Terns Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>880881107</cusip>
    <figi>BBG00KK1SJ08</figi>
    <value>23370776</value>
    <shrsOrPrnAmt>
      <sshPrnamt>443300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>443300</Sole>
      <Shared>443300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Terns Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>880881107</cusip>
    <figi>BBG00KK1SJ08</figi>
    <value>5214008</value>
    <shrsOrPrnAmt>
      <sshPrnamt>98900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>98900</Sole>
      <Shared>98900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Terreno Realty Corp - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88146M101</cusip>
    <figi>BBG000PV3J62</figi>
    <value>15677209</value>
    <shrsOrPrnAmt>
      <sshPrnamt>255246</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>255246</Sole>
      <Shared>255246</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Terrestrial Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>881454102</cusip>
    <figi>BBG01Q79WXF0</figi>
    <value>67580</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11254</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11254</Sole>
      <Shared>11254</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tesla Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88160R101</cusip>
    <figi>BBG000N9MNX3</figi>
    <value>217368917</value>
    <shrsOrPrnAmt>
      <sshPrnamt>584718</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>584718</Sole>
      <Shared>584718</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tesla Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88160R101</cusip>
    <figi>BBG000N9MNX3</figi>
    <value>88550850</value>
    <shrsOrPrnAmt>
      <sshPrnamt>238200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>238200</Sole>
      <Shared>238200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tesla Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88160R101</cusip>
    <figi>BBG000N9MNX3</figi>
    <value>347437550</value>
    <shrsOrPrnAmt>
      <sshPrnamt>934600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>934600</Sole>
      <Shared>934600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tetra Tech Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>88162GAB9</cusip>
    <figi>BBG01HZHCN74</figi>
    <value>31627506</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30120000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30120000</Sole>
      <Shared>30120000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teucrium Corn Fund - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>88166A102</cusip>
    <figi>BBG000R0KF85</figi>
    <value>3680000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>200000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>200000</Sole>
      <Shared>200000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teucrium Corn Fund - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>88166A102</cusip>
    <figi>BBG000R0KF85</figi>
    <value>920000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50000</Sole>
      <Shared>50000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teva Pharmaceutical Industries Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>881624209</cusip>
    <figi>BBG000C0CD58</figi>
    <value>16400370</value>
    <shrsOrPrnAmt>
      <sshPrnamt>544501</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>544501</Sole>
      <Shared>544501</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teva Pharmaceutical Industries Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>881624209</cusip>
    <figi>BBG000C0CD58</figi>
    <value>3822228</value>
    <shrsOrPrnAmt>
      <sshPrnamt>126900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>126900</Sole>
      <Shared>126900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Teva Pharmaceutical Industries Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>881624209</cusip>
    <figi>BBG000C0CD58</figi>
    <value>7033020</value>
    <shrsOrPrnAmt>
      <sshPrnamt>233500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>233500</Sole>
      <Shared>233500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Texas Capital Bancshares Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88224Q107</cusip>
    <figi>BBG000DN4ZT1</figi>
    <value>2428359</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25594</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25594</Sole>
      <Shared>25594</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Texas Instruments Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>882508104</cusip>
    <figi>BBG000BVV7G1</figi>
    <value>34906372</value>
    <shrsOrPrnAmt>
      <sshPrnamt>179800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>179800</Sole>
      <Shared>179800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Texas Instruments Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>882508104</cusip>
    <figi>BBG000BVV7G1</figi>
    <value>13162692</value>
    <shrsOrPrnAmt>
      <sshPrnamt>67800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>67800</Sole>
      <Shared>67800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Texas Pacific Land Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88262P102</cusip>
    <figi>BBG00YRJXKB1</figi>
    <value>1044032</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2200</Sole>
      <Shared>2200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Texas Pacific Land Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88262P102</cusip>
    <figi>BBG00YRJXKB1</figi>
    <value>2372800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5000</Sole>
      <Shared>5000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Texas Roadhouse Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>882681109</cusip>
    <figi>BBG000PSJMV7</figi>
    <value>412850</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2500</Sole>
      <Shared>2500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Textron Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>883203101</cusip>
    <figi>BBG000BVVQQ8</figi>
    <value>10172371</value>
    <shrsOrPrnAmt>
      <sshPrnamt>116176</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>116176</Sole>
      <Shared>116176</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Textron Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>883203101</cusip>
    <figi>BBG000BVVQQ8</figi>
    <value>5813984</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>66400</Sole>
      <Shared>66400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>The Campbell's Company - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>134429109</cusip>
    <figi>BBG000BG4202</figi>
    <value>3050990</value>
    <shrsOrPrnAmt>
      <sshPrnamt>137000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>137000</Sole>
      <Shared>137000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>The Campbell's Company - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>134429109</cusip>
    <figi>BBG000BG4202</figi>
    <value>5131008</value>
    <shrsOrPrnAmt>
      <sshPrnamt>230400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>230400</Sole>
      <Shared>230400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Theravance Biopharma Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G8807B106</cusip>
    <figi>BBG004HK6YX1</figi>
    <value>1949580</value>
    <shrsOrPrnAmt>
      <sshPrnamt>120122</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>120122</Sole>
      <Shared>120122</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Thermo Fisher Scientific Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>883556102</cusip>
    <figi>BBG000BVDLH9</figi>
    <value>6652367</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13534</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13534</Sole>
      <Shared>13534</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Thermo Fisher Scientific Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>883556102</cusip>
    <figi>BBG000BVDLH9</figi>
    <value>983060</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2000</Sole>
      <Shared>2000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Thermo Fisher Scientific Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>883556102</cusip>
    <figi>BBG000BVDLH9</figi>
    <value>11501802</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23400</Sole>
      <Shared>23400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Thermon Group Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88362T103</cusip>
    <figi>BBG001HNSYT2</figi>
    <value>2914783</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57833</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57833</Sole>
      <Shared>57833</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Third Coast Bancshares Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88422P109</cusip>
    <figi>BBG009W8YNW4</figi>
    <value>1680749</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44429</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44429</Sole>
      <Shared>44429</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Thomson Reuters Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>884903881</cusip>
    <figi>BBG000BBS9F6</figi>
    <value>1070762</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11900</Sole>
      <Shared>11900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Thomson Reuters Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>884903881</cusip>
    <figi>BBG000BBS9F6</figi>
    <value>1502666</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16700</Sole>
      <Shared>16700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Thor Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>885160101</cusip>
    <figi>BBG000BV6R84</figi>
    <value>6605385</value>
    <shrsOrPrnAmt>
      <sshPrnamt>82681</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>82681</Sole>
      <Shared>82681</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Thor Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>885160101</cusip>
    <figi>BBG000BV6R84</figi>
    <value>247659</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3100</Sole>
      <Shared>3100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Thor Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>885160101</cusip>
    <figi>BBG000BV6R84</figi>
    <value>327549</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4100</Sole>
      <Shared>4100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Thredup Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88556E102</cusip>
    <figi>BBG001PG5WQ0</figi>
    <value>3122842</value>
    <shrsOrPrnAmt>
      <sshPrnamt>952086</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>952086</Sole>
      <Shared>952086</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Thryv Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>886029206</cusip>
    <figi>BBG00FWL3J63</figi>
    <value>907904</value>
    <shrsOrPrnAmt>
      <sshPrnamt>331352</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>331352</Sole>
      <Shared>331352</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tidewater Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88642R109</cusip>
    <figi>BBG00HBQ35R8</figi>
    <value>9704834</value>
    <shrsOrPrnAmt>
      <sshPrnamt>116156</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>116156</Sole>
      <Shared>116156</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tiptree Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88822Q103</cusip>
    <figi>BBG000R2RWP8</figi>
    <value>630591</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37269</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37269</Sole>
      <Shared>37269</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Titan International Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88830M102</cusip>
    <figi>BBG000BBNFG6</figi>
    <value>472644</value>
    <shrsOrPrnAmt>
      <sshPrnamt>68400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>68400</Sole>
      <Shared>68400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tjx Cos Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>872540109</cusip>
    <figi>BBG000BV8DN6</figi>
    <value>112640882</value>
    <shrsOrPrnAmt>
      <sshPrnamt>705328</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>705328</Sole>
      <Shared>705328</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tjx Cos Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>872540109</cusip>
    <figi>BBG000BV8DN6</figi>
    <value>3146090</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19700</Sole>
      <Shared>19700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tjx Cos Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>872540109</cusip>
    <figi>BBG000BV8DN6</figi>
    <value>7921120</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49600</Sole>
      <Shared>49600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TKO Group Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87256C101</cusip>
    <figi>BBG01G9JKWV5</figi>
    <value>947755</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4700</Sole>
      <Shared>4700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tmc The Metals Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>87261Y106</cusip>
    <figi>BBG00SMMWMM7</figi>
    <value>7610993</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1629763</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1629763</Sole>
      <Shared>1629763</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tmc The Metals Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87261Y106</cusip>
    <figi>BBG00SMMWMM7</figi>
    <value>67715</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14500</Sole>
      <Shared>14500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>T-Mobile Us Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>872590104</cusip>
    <figi>BBG000NDV1D4</figi>
    <value>17580141</value>
    <shrsOrPrnAmt>
      <sshPrnamt>83703</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>83703</Sole>
      <Shared>83703</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>T-Mobile Us Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>872590104</cusip>
    <figi>BBG000NDV1D4</figi>
    <value>1491213</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7100</Sole>
      <Shared>7100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>T-Mobile Us Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>872590104</cusip>
    <figi>BBG000NDV1D4</figi>
    <value>8254179</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39300</Sole>
      <Shared>39300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Toast Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>888787108</cusip>
    <figi>BBG00BTJVK94</figi>
    <value>3321703</value>
    <shrsOrPrnAmt>
      <sshPrnamt>125300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>125300</Sole>
      <Shared>125300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Toast Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>888787108</cusip>
    <figi>BBG00BTJVK94</figi>
    <value>1736405</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>65500</Sole>
      <Shared>65500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Toll Brothers Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>889478103</cusip>
    <figi>BBG000BVHBM1</figi>
    <value>1054777</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7729</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7729</Sole>
      <Shared>7729</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Toll Brothers Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>889478103</cusip>
    <figi>BBG000BVHBM1</figi>
    <value>982584</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7200</Sole>
      <Shared>7200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Toll Brothers Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>889478103</cusip>
    <figi>BBG000BVHBM1</figi>
    <value>3111516</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22800</Sole>
      <Shared>22800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Topbuild Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>89055F103</cusip>
    <figi>BBG0077VS2C0</figi>
    <value>526950</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1500</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TORM PLC - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G89479102</cusip>
    <figi>BBG00JG0MYJ1</figi>
    <value>1067231</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38252</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38252</Sole>
      <Shared>38252</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Toronto-Dominion Bank/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>891160509</cusip>
    <figi>BBG000BXBHJ4</figi>
    <value>2116271</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22680</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22680</Sole>
      <Shared>22680</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Toronto-Dominion Bank/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>891160509</cusip>
    <figi>BBG000BXBHJ4</figi>
    <value>4908106</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52600</Sole>
      <Shared>52600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Toronto-Dominion Bank/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>891160509</cusip>
    <figi>BBG000BXBHJ4</figi>
    <value>11962342</value>
    <shrsOrPrnAmt>
      <sshPrnamt>128200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>128200</Sole>
      <Shared>128200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Totalenergies Se - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>F92124100</cusip>
    <figi>BBG000JLVJ97</figi>
    <value>20044168</value>
    <shrsOrPrnAmt>
      <sshPrnamt>220314</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>220314</Sole>
      <Shared>220314</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Totalenergies Se - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>F92124100</cusip>
    <figi>BBG000JLVJ97</figi>
    <value>2574734</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28300</Sole>
      <Shared>28300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tower Semiconductor Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M87915274</cusip>
    <figi>BBG000BH91G0</figi>
    <value>12248504</value>
    <shrsOrPrnAmt>
      <sshPrnamt>69800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>69800</Sole>
      <Shared>69800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tower Semiconductor Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M87915274</cusip>
    <figi>BBG000BH91G0</figi>
    <value>6562952</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37400</Sole>
      <Shared>37400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Toyota Motor Corp - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>892331307</cusip>
    <figi>BBG000BPH299</figi>
    <value>1257149</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6100</Sole>
      <Shared>6100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TPG Partners LLC - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>872657101</cusip>
    <figi>BBG0145FSNR1</figi>
    <value>21351930</value>
    <shrsOrPrnAmt>
      <sshPrnamt>527078</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>527078</Sole>
      <Shared>527078</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TPG Partners LLC - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>872657101</cusip>
    <figi>BBG0145FSNR1</figi>
    <value>409151</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10100</Sole>
      <Shared>10100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TPG Partners LLC - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>872657101</cusip>
    <figi>BBG0145FSNR1</figi>
    <value>1126178</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27800</Sole>
      <Shared>27800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tractor Supply Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>892356106</cusip>
    <figi>BBG000BLXZN1</figi>
    <value>398640</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8800</Sole>
      <Shared>8800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trade Desk Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>88339J105</cusip>
    <figi>BBG00629NGT2</figi>
    <value>19408255</value>
    <shrsOrPrnAmt>
      <sshPrnamt>855366</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>855366</Sole>
      <Shared>855366</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trade Desk Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88339J105</cusip>
    <figi>BBG00629NGT2</figi>
    <value>13906701</value>
    <shrsOrPrnAmt>
      <sshPrnamt>612900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>612900</Sole>
      <Shared>612900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trade Desk Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>88339J105</cusip>
    <figi>BBG00629NGT2</figi>
    <value>16402601</value>
    <shrsOrPrnAmt>
      <sshPrnamt>722900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>722900</Sole>
      <Shared>722900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tradeweb Markets Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>892672106</cusip>
    <figi>BBG00NK8H8T2</figi>
    <value>13897529</value>
    <shrsOrPrnAmt>
      <sshPrnamt>118116</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>118116</Sole>
      <Shared>118116</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tradeweb Markets Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>892672106</cusip>
    <figi>BBG00NK8H8T2</figi>
    <value>270618</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2300</Sole>
      <Shared>2300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trane Technologies Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G8994E103</cusip>
    <figi>BBG000BM6788</figi>
    <value>42155751</value>
    <shrsOrPrnAmt>
      <sshPrnamt>101156</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>101156</Sole>
      <Shared>101156</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trane Technologies Plc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G8994E103</cusip>
    <figi>BBG000BM6788</figi>
    <value>875154</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2100</Sole>
      <Shared>2100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Transdigm Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>893641100</cusip>
    <figi>BBG000L8CBX4</figi>
    <value>64832222</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55940</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>55940</Sole>
      <Shared>55940</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Transmedics Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>89377M109</cusip>
    <figi>BBG00NZ6J685</figi>
    <value>3997972</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40217</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40217</Sole>
      <Shared>40217</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Transmedics Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>89377M109</cusip>
    <figi>BBG00NZ6J685</figi>
    <value>805221</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8100</Sole>
      <Shared>8100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Transmedics Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>89377M109</cusip>
    <figi>BBG00NZ6J685</figi>
    <value>854926</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8600</Sole>
      <Shared>8600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Transocean Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>H8817H100</cusip>
    <figi>BBG000BH5LT6</figi>
    <value>34995911</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5278418</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5278418</Sole>
      <Shared>5278418</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Transocean Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H8817H100</cusip>
    <figi>BBG000BH5LT6</figi>
    <value>9092382</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1371400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1371400</Sole>
      <Shared>1371400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Transocean Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H8817H100</cusip>
    <figi>BBG000BH5LT6</figi>
    <value>10049754</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1515800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1515800</Sole>
      <Shared>1515800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Travelers Cos Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>89417E109</cusip>
    <figi>BBG000BJ81C1</figi>
    <value>583360</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2000</Sole>
      <Shared>2000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Travere Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>89422G107</cusip>
    <figi>BBG000P9D6W9</figi>
    <value>991155</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33361</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33361</Sole>
      <Shared>33361</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trevi Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>89532M101</cusip>
    <figi>BBG003QGQRB9</figi>
    <value>769771</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64524</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>64524</Sole>
      <Shared>64524</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trex Co Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>89531P105</cusip>
    <figi>BBG000BTGKK9</figi>
    <value>1005192</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27600</Sole>
      <Shared>27600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tri Pointe Homes Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>87265H109</cusip>
    <figi>BBG0016YQTR5</figi>
    <value>2453372</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52501</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52501</Sole>
      <Shared>52501</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trimas Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>896215209</cusip>
    <figi>BBG000C1NCH3</figi>
    <value>5767795</value>
    <shrsOrPrnAmt>
      <sshPrnamt>160484</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>160484</Sole>
      <Shared>160484</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trimble Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>896239100</cusip>
    <figi>BBG000BNPS52</figi>
    <value>11394637</value>
    <shrsOrPrnAmt>
      <sshPrnamt>174684</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>174684</Sole>
      <Shared>174684</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trinity Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>896522109</cusip>
    <figi>BBG000BVL2G3</figi>
    <value>3451208</value>
    <shrsOrPrnAmt>
      <sshPrnamt>107247</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>107247</Sole>
      <Shared>107247</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trip.Com Group Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>89677Q107</cusip>
    <figi>BBG000CWKYS8</figi>
    <value>7700621</value>
    <shrsOrPrnAmt>
      <sshPrnamt>154662</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>154662</Sole>
      <Shared>154662</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trip.Com Group Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>89677Q107</cusip>
    <figi>BBG000CWKYS8</figi>
    <value>1224834</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24600</Sole>
      <Shared>24600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trip.Com Group Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>89677Q107</cusip>
    <figi>BBG000CWKYS8</figi>
    <value>14693029</value>
    <shrsOrPrnAmt>
      <sshPrnamt>295100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>295100</Sole>
      <Shared>295100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Triple Flag Precious Metals Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>89679M104</cusip>
    <figi>BBG019F38FQ6</figi>
    <value>208260</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6000</Sole>
      <Shared>6000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Triumph Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>89679E300</cusip>
    <figi>BBG000QS6MN9</figi>
    <value>2416528</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40505</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40505</Sole>
      <Shared>40505</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tronox Holdings Plc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G9087Q102</cusip>
    <figi>BBG00MRH2W10</figi>
    <value>9449993</value>
    <shrsOrPrnAmt>
      <sshPrnamt>967246</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>967246</Sole>
      <Shared>967246</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Truist Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>89832Q109</cusip>
    <figi>BBG000BYYLS8</figi>
    <value>1543259</value>
    <shrsOrPrnAmt>
      <sshPrnamt>33571</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>33571</Sole>
      <Shared>33571</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Truist Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>89832Q109</cusip>
    <figi>BBG000BYYLS8</figi>
    <value>956176</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20800</Sole>
      <Shared>20800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Truist Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>89832Q109</cusip>
    <figi>BBG000BYYLS8</figi>
    <value>5681892</value>
    <shrsOrPrnAmt>
      <sshPrnamt>123600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>123600</Sole>
      <Shared>123600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trump Media &amp; Technology Group Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>25400Q105</cusip>
    <figi>BBG011744HH0</figi>
    <value>92800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10000</Sole>
      <Shared>10000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trupanion Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>898202106</cusip>
    <figi>BBG002BC7WC5</figi>
    <value>8072963</value>
    <shrsOrPrnAmt>
      <sshPrnamt>315227</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>315227</Sole>
      <Shared>315227</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Trustmark Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>898402102</cusip>
    <figi>BBG000C3SB31</figi>
    <value>1770934</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42025</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42025</Sole>
      <Shared>42025</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tsakos Energy Navigation Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G9108L173</cusip>
    <figi>BBG000BRM155</figi>
    <value>8967995</value>
    <shrsOrPrnAmt>
      <sshPrnamt>227268</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>227268</Sole>
      <Shared>227268</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ttm Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>87305R109</cusip>
    <figi>BBG000BYQ0B1</figi>
    <value>4356428</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44718</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44718</Sole>
      <Shared>44718</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ttm Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>87305R109</cusip>
    <figi>BBG000BYQ0B1</figi>
    <value>604004</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6200</Sole>
      <Shared>6200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tutor Perini Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>901109108</cusip>
    <figi>BBG000BQXHV1</figi>
    <value>9230535</value>
    <shrsOrPrnAmt>
      <sshPrnamt>119582</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>119582</Sole>
      <Shared>119582</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tutor Perini Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>901109108</cusip>
    <figi>BBG000BQXHV1</figi>
    <value>223851</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2900</Sole>
      <Shared>2900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TWFG Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>87318A101</cusip>
    <figi>BBG01NHFZWR8</figi>
    <value>536344</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29165</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29165</Sole>
      <Shared>29165</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Twilio Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>90138F102</cusip>
    <figi>BBG0029ZX840</figi>
    <value>553608</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4400</Sole>
      <Shared>4400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>TXNM Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>69349H107</cusip>
    <figi>BBG000BRDFF3</figi>
    <value>10985160</value>
    <shrsOrPrnAmt>
      <sshPrnamt>187909</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>187909</Sole>
      <Shared>187909</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tyra Biosciences Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>90240B106</cusip>
    <figi>BBG00RCQD9D1</figi>
    <value>623677</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16284</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16284</Sole>
      <Shared>16284</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tyson Foods Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>902494103</cusip>
    <figi>BBG000DKCC19</figi>
    <value>1848868</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28857</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28857</Sole>
      <Shared>28857</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Tyson Foods Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>902494103</cusip>
    <figi>BBG000DKCC19</figi>
    <value>595851</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9300</Sole>
      <Shared>9300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>U Haul Holding Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>023586100</cusip>
    <figi>BBG000BCFXT0</figi>
    <value>955504</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19998</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19998</Sole>
      <Shared>19998</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Uber Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>90353T100</cusip>
    <figi>BBG002B04MT8</figi>
    <value>21581949</value>
    <shrsOrPrnAmt>
      <sshPrnamt>300041</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>300041</Sole>
      <Shared>300041</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Uber Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>90353T100</cusip>
    <figi>BBG002B04MT8</figi>
    <value>3704395</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51500</Sole>
      <Shared>51500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Uber Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>90353T100</cusip>
    <figi>BBG002B04MT8</figi>
    <value>26700416</value>
    <shrsOrPrnAmt>
      <sshPrnamt>371200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>371200</Sole>
      <Shared>371200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Uber Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Convertible Bond</titleOfClass>
    <cusip>90353TAM2</cusip>
    <figi>BBG01K8CD1G5</figi>
    <value>71148100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59000000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>59000000</Sole>
      <Shared>59000000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ubs Group Ag - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>H42097107</cusip>
    <figi>BBG007DJM539</figi>
    <value>10783359</value>
    <shrsOrPrnAmt>
      <sshPrnamt>276001</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>276001</Sole>
      <Shared>276001</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ubs Group Ag - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H42097107</cusip>
    <figi>BBG007DJM539</figi>
    <value>3715557</value>
    <shrsOrPrnAmt>
      <sshPrnamt>95100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>95100</Sole>
      <Shared>95100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ubs Group Ag - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>H42097107</cusip>
    <figi>BBG007DJM539</figi>
    <value>2473131</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>63300</Sole>
      <Shared>63300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Udr Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>902653104</cusip>
    <figi>BBG000C41023</figi>
    <value>6289667</value>
    <shrsOrPrnAmt>
      <sshPrnamt>186195</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>186195</Sole>
      <Shared>186195</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ugi Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>902681105</cusip>
    <figi>BBG000BVYN55</figi>
    <value>4081189</value>
    <shrsOrPrnAmt>
      <sshPrnamt>112059</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>112059</Sole>
      <Shared>112059</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Uipath Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>90364P105</cusip>
    <figi>BBG00GKS1G03</figi>
    <value>2308789</value>
    <shrsOrPrnAmt>
      <sshPrnamt>207999</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>207999</Sole>
      <Shared>207999</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Uipath Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>90364P105</cusip>
    <figi>BBG00GKS1G03</figi>
    <value>2743920</value>
    <shrsOrPrnAmt>
      <sshPrnamt>247200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>247200</Sole>
      <Shared>247200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Uipath Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>90364P105</cusip>
    <figi>BBG00GKS1G03</figi>
    <value>2044620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>184200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>184200</Sole>
      <Shared>184200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ulta Beauty Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>90384S303</cusip>
    <figi>BBG00FWQ4VD6</figi>
    <value>27834308</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>53250</Sole>
      <Shared>53250</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ulta Beauty Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>90384S303</cusip>
    <figi>BBG00FWQ4VD6</figi>
    <value>2927176</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5600</Sole>
      <Shared>5600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ulta Beauty Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>90384S303</cusip>
    <figi>BBG00FWQ4VD6</figi>
    <value>7997463</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15300</Sole>
      <Shared>15300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ultra Clean Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>90385V107</cusip>
    <figi>BBG000HSLV70</figi>
    <value>2336040</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37569</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37569</Sole>
      <Shared>37569</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ultragenyx Pharmaceutical Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>90400D108</cusip>
    <figi>BBG001RWPDW6</figi>
    <value>1121181</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53517</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>53517</Sole>
      <Shared>53517</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Umb Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>902788108</cusip>
    <figi>BBG000DD8WX1</figi>
    <value>2811742</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24929</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24929</Sole>
      <Shared>24929</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Umh Properties Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>903002103</cusip>
    <figi>BBG000D6MRB5</figi>
    <value>1090071</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75542</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>75542</Sole>
      <Shared>75542</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Under Armour Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>904311107</cusip>
    <figi>BBG000BXM6V2</figi>
    <value>165344</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27977</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27977</Sole>
      <Shared>27977</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Under Armour Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>904311107</cusip>
    <figi>BBG000BXM6V2</figi>
    <value>413700</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>70000</Sole>
      <Shared>70000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Under Armour Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>904311107</cusip>
    <figi>BBG000BXM6V2</figi>
    <value>1093350</value>
    <shrsOrPrnAmt>
      <sshPrnamt>185000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>185000</Sole>
      <Shared>185000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unifi Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>904677200</cusip>
    <figi>BBG000C48RJ9</figi>
    <value>98050</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27465</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27465</Sole>
      <Shared>27465</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unifirst Corp/Ma - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>904708104</cusip>
    <figi>BBG000BW29L1</figi>
    <value>3527795</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14022</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14022</Sole>
      <Shared>14022</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unifirst Corp/Ma - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>904708104</cusip>
    <figi>BBG000BW29L1</figi>
    <value>578657</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2300</Sole>
      <Shared>2300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unilever Plc - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>904767803</cusip>
    <figi>BBG000BW1442</figi>
    <value>4239593</value>
    <shrsOrPrnAmt>
      <sshPrnamt>74418</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>74418</Sole>
      <Shared>74418</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unilever Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>904767803</cusip>
    <figi>BBG000BW1442</figi>
    <value>4010688</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>70400</Sole>
      <Shared>70400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unilever Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>904767803</cusip>
    <figi>BBG000BW1442</figi>
    <value>9491202</value>
    <shrsOrPrnAmt>
      <sshPrnamt>166600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>166600</Sole>
      <Shared>166600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Union Pacific Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>907818108</cusip>
    <figi>BBG000BW3299</figi>
    <value>8658137</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35686</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35686</Sole>
      <Shared>35686</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Union Pacific Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>907818108</cusip>
    <figi>BBG000BW3299</figi>
    <value>994742</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4100</Sole>
      <Shared>4100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Union Pacific Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>907818108</cusip>
    <figi>BBG000BW3299</figi>
    <value>13950650</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57500</Sole>
      <Shared>57500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Uniqure Nv - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N90064101</cusip>
    <figi>BBG005SSJYH3</figi>
    <value>5820600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>356000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>356000</Sole>
      <Shared>356000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Uniqure Nv - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>N90064101</cusip>
    <figi>BBG005SSJYH3</figi>
    <value>727575</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44500</Sole>
      <Shared>44500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Airlines Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>910047109</cusip>
    <figi>BBG000M65M61</figi>
    <value>12572987</value>
    <shrsOrPrnAmt>
      <sshPrnamt>136559</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>136559</Sole>
      <Shared>136559</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Airlines Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>910047109</cusip>
    <figi>BBG000M65M61</figi>
    <value>810216</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8800</Sole>
      <Shared>8800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Airlines Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>910047109</cusip>
    <figi>BBG000M65M61</figi>
    <value>13644774</value>
    <shrsOrPrnAmt>
      <sshPrnamt>148200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>148200</Sole>
      <Shared>148200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Bankshares Inc/Wv - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>909907107</cusip>
    <figi>BBG000BVXC87</figi>
    <value>3057749</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73823</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>73823</Sole>
      <Shared>73823</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Microelectronics Corp - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>910873405</cusip>
    <figi>BBG000BR4TH1</figi>
    <value>157752</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17567</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17567</Sole>
      <Shared>17567</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Natural Foods Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>911163103</cusip>
    <figi>BBG000BXB1M5</figi>
    <value>3741692</value>
    <shrsOrPrnAmt>
      <sshPrnamt>83038</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>83038</Sole>
      <Shared>83038</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Natural Foods Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>911163103</cusip>
    <figi>BBG000BXB1M5</figi>
    <value>301902</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6700</Sole>
      <Shared>6700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Natural Foods Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>911163103</cusip>
    <figi>BBG000BXB1M5</figi>
    <value>364986</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8100</Sole>
      <Shared>8100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Parcel Service Inc - US Class B</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>911312106</cusip>
    <figi>BBG000L9CV04</figi>
    <value>5253492</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>53400</Sole>
      <Shared>53400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Parcel Service Inc - US Class B</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>911312106</cusip>
    <figi>BBG000L9CV04</figi>
    <value>24890140</value>
    <shrsOrPrnAmt>
      <sshPrnamt>253000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>253000</Sole>
      <Shared>253000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Rentals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>911363109</cusip>
    <figi>BBG000BXMFC3</figi>
    <value>31931328</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43828</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43828</Sole>
      <Shared>43828</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Rentals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>911363109</cusip>
    <figi>BBG000BXMFC3</figi>
    <value>509992</value>
    <shrsOrPrnAmt>
      <sshPrnamt>700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>700</Sole>
      <Shared>700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Rentals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>911363109</cusip>
    <figi>BBG000BXMFC3</figi>
    <value>2768528</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3800</Sole>
      <Shared>3800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United States Antimony Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>911549103</cusip>
    <figi>BBG000F3M1Q1</figi>
    <value>1765337</value>
    <shrsOrPrnAmt>
      <sshPrnamt>202215</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>202215</Sole>
      <Shared>202215</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United States Antimony Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>911549103</cusip>
    <figi>BBG000F3M1Q1</figi>
    <value>192933</value>
    <shrsOrPrnAmt>
      <sshPrnamt>22100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>22100</Sole>
      <Shared>22100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United States Lime &amp; Minerals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>911922102</cusip>
    <figi>BBG000D7P047</figi>
    <value>2740981</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20986</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20986</Sole>
      <Shared>20986</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Therapeutics Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91307C102</cusip>
    <figi>BBG000BV4XJ1</figi>
    <value>14231520</value>
    <shrsOrPrnAmt>
      <sshPrnamt>24000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24000</Sole>
      <Shared>24000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>United Therapeutics Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91307C102</cusip>
    <figi>BBG000BV4XJ1</figi>
    <value>4210158</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7100</Sole>
      <Shared>7100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unitedhealth Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>91324P102</cusip>
    <figi>BBG000CH5208</figi>
    <value>131608211</value>
    <shrsOrPrnAmt>
      <sshPrnamt>486375</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>486375</Sole>
      <Shared>486375</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unitedhealth Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91324P102</cusip>
    <figi>BBG000CH5208</figi>
    <value>53035640</value>
    <shrsOrPrnAmt>
      <sshPrnamt>196000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>196000</Sole>
      <Shared>196000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unitedhealth Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91324P102</cusip>
    <figi>BBG000CH5208</figi>
    <value>167603446</value>
    <shrsOrPrnAmt>
      <sshPrnamt>619400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>619400</Sole>
      <Shared>619400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unitil Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>913259107</cusip>
    <figi>BBG000BW7X97</figi>
    <value>421263</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8064</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8064</Sole>
      <Shared>8064</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unity Software Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>91332U101</cusip>
    <figi>BBG0056JW5G6</figi>
    <value>26555957</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1210390</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1210390</Sole>
      <Shared>1210390</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unity Software Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91332U101</cusip>
    <figi>BBG0056JW5G6</figi>
    <value>6948398</value>
    <shrsOrPrnAmt>
      <sshPrnamt>316700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>316700</Sole>
      <Shared>316700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unity Software Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91332U101</cusip>
    <figi>BBG0056JW5G6</figi>
    <value>17657312</value>
    <shrsOrPrnAmt>
      <sshPrnamt>804800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>804800</Sole>
      <Shared>804800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Universal Display Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>91347P105</cusip>
    <figi>BBG000BLRP41</figi>
    <value>4766137</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51998</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51998</Sole>
      <Shared>51998</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Universal Display Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91347P105</cusip>
    <figi>BBG000BLRP41</figi>
    <value>375806</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4100</Sole>
      <Shared>4100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Universal Health Services Inc - US Class B</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>913903100</cusip>
    <figi>BBG000CB8Q50</figi>
    <value>26688006</value>
    <shrsOrPrnAmt>
      <sshPrnamt>149120</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>149120</Sole>
      <Shared>149120</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Universal Insurance Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>91359V107</cusip>
    <figi>BBG000B9YY14</figi>
    <value>1708000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50000</Sole>
      <Shared>50000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Univest Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>915271100</cusip>
    <figi>BBG000BRTL90</figi>
    <value>4005679</value>
    <shrsOrPrnAmt>
      <sshPrnamt>116920</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>116920</Sole>
      <Shared>116920</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Unusual Machines Inc /US - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>91532F102</cusip>
    <figi>BBG01M9MT5P2</figi>
    <value>22319975</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1799998</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1799998</Sole>
      <Shared>1799998</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Up Fintech Holding Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>91531W106</cusip>
    <figi>BBG00NG4GW96</figi>
    <value>127499</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20238</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20238</Sole>
      <Shared>20238</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Up Fintech Holding Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91531W106</cusip>
    <figi>BBG00NG4GW96</figi>
    <value>1010520</value>
    <shrsOrPrnAmt>
      <sshPrnamt>160400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>160400</Sole>
      <Shared>160400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Up Fintech Holding Ltd - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91531W106</cusip>
    <figi>BBG00NG4GW96</figi>
    <value>353430</value>
    <shrsOrPrnAmt>
      <sshPrnamt>56100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>56100</Sole>
      <Shared>56100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Upstart Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>91680M107</cusip>
    <figi>BBG00PKCBY53</figi>
    <value>346455</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13507</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13507</Sole>
      <Shared>13507</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Upstart Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91680M107</cusip>
    <figi>BBG00PKCBY53</figi>
    <value>2246940</value>
    <shrsOrPrnAmt>
      <sshPrnamt>87600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>87600</Sole>
      <Shared>87600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Upstart Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91680M107</cusip>
    <figi>BBG00PKCBY53</figi>
    <value>5306985</value>
    <shrsOrPrnAmt>
      <sshPrnamt>206900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>206900</Sole>
      <Shared>206900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Upstream Bio Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>91678A107</cusip>
    <figi>BBG017Y2X923</figi>
    <value>237708</value>
    <shrsOrPrnAmt>
      <sshPrnamt>26412</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26412</Sole>
      <Shared>26412</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Upwork Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91688F104</cusip>
    <figi>BBG00FBJ6390</figi>
    <value>380312</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34700</Sole>
      <Shared>34700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Uranium Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>916896103</cusip>
    <figi>BBG000LCK3Q2</figi>
    <value>411750</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>30500</Sole>
      <Shared>30500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Uranium Royalty Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91702V101</cusip>
    <figi>BBG00RC86FX3</figi>
    <value>182500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>50000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>50000</Sole>
      <Shared>50000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Urban Outfitters Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>917047102</cusip>
    <figi>BBG000BL79J3</figi>
    <value>2591902</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40914</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40914</Sole>
      <Shared>40914</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Us Bancorp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>902973304</cusip>
    <figi>BBG000FFDM15</figi>
    <value>1092210</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21000</Sole>
      <Shared>21000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Us Bancorp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>902973304</cusip>
    <figi>BBG000FFDM15</figi>
    <value>5263412</value>
    <shrsOrPrnAmt>
      <sshPrnamt>101200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>101200</Sole>
      <Shared>101200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Us Global Jets Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>26922A842</cusip>
    <figi>BBG008LT6106</figi>
    <value>2463000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100000</Sole>
      <Shared>100000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Us Global Jets Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>26922A842</cusip>
    <figi>BBG008LT6106</figi>
    <value>953550</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38715</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38715</Sole>
      <Shared>38715</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Us Physical Therapy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>90337L108</cusip>
    <figi>BBG000CSRSG6</figi>
    <value>313633</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4184</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4184</Sole>
      <Shared>4184</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>USA Rare Earth Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>91733P107</cusip>
    <figi>BBG01HFW5XW1</figi>
    <value>1279664</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84550</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>84550</Sole>
      <Shared>84550</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>USA Rare Earth Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91733P107</cusip>
    <figi>BBG01HFW5XW1</figi>
    <value>1725395</value>
    <shrsOrPrnAmt>
      <sshPrnamt>114000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>114000</Sole>
      <Shared>114000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>USA Rare Earth Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91733P107</cusip>
    <figi>BBG01HFW5XW1</figi>
    <value>693190</value>
    <shrsOrPrnAmt>
      <sshPrnamt>45800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>45800</Sole>
      <Shared>45800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Usana Health Sciences Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>90328M107</cusip>
    <figi>BBG000BX28M0</figi>
    <value>1230709</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70447</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>70447</Sole>
      <Shared>70447</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Utz Brands Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>918090101</cusip>
    <figi>BBG00M8652H1</figi>
    <value>2013921</value>
    <shrsOrPrnAmt>
      <sshPrnamt>254283</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>254283</Sole>
      <Shared>254283</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Uwm Holdings Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>91823B109</cusip>
    <figi>BBG00R24YP60</figi>
    <value>12775103</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3529034</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3529034</Sole>
      <Shared>3529034</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vaalco Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91851C201</cusip>
    <figi>BBG000BTBH21</figi>
    <value>634000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>100000</Sole>
      <Shared>100000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vail Resorts Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91879Q109</cusip>
    <figi>BBG000BCMWM1</figi>
    <value>1745152</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13600</Sole>
      <Shared>13600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vail Resorts Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91879Q109</cusip>
    <figi>BBG000BCMWM1</figi>
    <value>988064</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7700</Sole>
      <Shared>7700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Valaris Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G9460G101</cusip>
    <figi>BBG010JW9K49</figi>
    <value>11225972</value>
    <shrsOrPrnAmt>
      <sshPrnamt>114504</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>114504</Sole>
      <Shared>114504</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Valaris Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G9460G101</cusip>
    <figi>BBG010JW9K49</figi>
    <value>12166764</value>
    <shrsOrPrnAmt>
      <sshPrnamt>124100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>124100</Sole>
      <Shared>124100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Valaris Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G9460G101</cusip>
    <figi>BBG010JW9K49</figi>
    <value>33019872</value>
    <shrsOrPrnAmt>
      <sshPrnamt>336800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>336800</Sole>
      <Shared>336800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vale Sa - US ADR</nameOfIssuer>
    <titleOfClass>Depository Receipt</titleOfClass>
    <cusip>91912E105</cusip>
    <figi>BBG000BN5LG7</figi>
    <value>521228</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32761</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32761</Sole>
      <Shared>32761</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vale Sa - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91912E105</cusip>
    <figi>BBG000BN5LG7</figi>
    <value>1221888</value>
    <shrsOrPrnAmt>
      <sshPrnamt>76800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>76800</Sole>
      <Shared>76800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vale Sa - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91912E105</cusip>
    <figi>BBG000BN5LG7</figi>
    <value>4117508</value>
    <shrsOrPrnAmt>
      <sshPrnamt>258800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>258800</Sole>
      <Shared>258800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Valero Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>91913Y100</cusip>
    <figi>BBG000BBGGQ1</figi>
    <value>10639018</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43059</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43059</Sole>
      <Shared>43059</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Valero Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91913Y100</cusip>
    <figi>BBG000BBGGQ1</figi>
    <value>4027404</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16300</Sole>
      <Shared>16300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Valero Energy Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>91913Y100</cusip>
    <figi>BBG000BBGGQ1</figi>
    <value>10797396</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43700</Sole>
      <Shared>43700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Valley National Bancorp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>919794107</cusip>
    <figi>BBG000D4YTR6</figi>
    <value>2796966</value>
    <shrsOrPrnAmt>
      <sshPrnamt>227766</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>227766</Sole>
      <Shared>227766</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Valley National Bancorp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>919794107</cusip>
    <figi>BBG000D4YTR6</figi>
    <value>144904</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11800</Sole>
      <Shared>11800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Valmont Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>920253101</cusip>
    <figi>BBG000BWB7V4</figi>
    <value>5007012</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12531</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12531</Sole>
      <Shared>12531</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vanda Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>921659108</cusip>
    <figi>BBG000HT5MG6</figi>
    <value>706582</value>
    <shrsOrPrnAmt>
      <sshPrnamt>102255</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>102255</Sole>
      <Shared>102255</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VanEck BDC Income ETF - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>92189F411</cusip>
    <figi>BBG00440GKJ4</figi>
    <value>320000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25000</Sole>
      <Shared>25000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vaneck Gold Miners Etf/Usa - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>92189F106</cusip>
    <figi>BBG000PLNQN7</figi>
    <value>9140292</value>
    <shrsOrPrnAmt>
      <sshPrnamt>99600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>99600</Sole>
      <Shared>99600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vaneck Gold Miners Etf/Usa - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>92189F106</cusip>
    <figi>BBG000PLNQN7</figi>
    <value>99414441</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1083300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1083300</Sole>
      <Shared>1083300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vaneck Gold Miners Etf/Usa - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>92189F106</cusip>
    <figi>BBG000PLNQN7</figi>
    <value>17060135</value>
    <shrsOrPrnAmt>
      <sshPrnamt>185901</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>185901</Sole>
      <Shared>185901</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vaneck Junior Gold Miners Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>92189F791</cusip>
    <figi>BBG000PTYMS2</figi>
    <value>2179206</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18154</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18154</Sole>
      <Shared>18154</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vaneck Oil Services Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>92189H607</cusip>
    <figi>BBG000D02J82</figi>
    <value>10105250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25000</Sole>
      <Shared>25000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vaneck Oil Services Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>92189H607</cusip>
    <figi>BBG000D02J82</figi>
    <value>12856303</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31806</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31806</Sole>
      <Shared>31806</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>VanEck Rare Earth and Strategic Metals ETF - US ET</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>92189H805</cusip>
    <figi>BBG0018555F4</figi>
    <value>748000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8500</Sole>
      <Shared>8500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vaneck Semiconductor Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>92189F676</cusip>
    <figi>BBG000BV7ZQ5</figi>
    <value>85268160</value>
    <shrsOrPrnAmt>
      <sshPrnamt>222400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>222400</Sole>
      <Shared>222400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vaneck Semiconductor Etf - US ETP</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>92189F676</cusip>
    <figi>BBG000BV7ZQ5</figi>
    <value>262897380</value>
    <shrsOrPrnAmt>
      <sshPrnamt>685700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>685700</Sole>
      <Shared>685700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vaneck Semiconductor Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>92189F676</cusip>
    <figi>BBG000BV7ZQ5</figi>
    <value>20292212</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52927</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52927</Sole>
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  <infoTable>
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    <cusip>92189F601</cusip>
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    <value>841095</value>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6315</Sole>
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      <None>0</None>
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    <nameOfIssuer>Vanguard Dividend Appreciation Etf - US ETP</nameOfIssuer>
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    <cusip>921908844</cusip>
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    <votingAuthority>
      <Sole>32660</Sole>
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      <None>0</None>
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    <cusip>92204A306</cusip>
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      <sshPrnamt>124481</sshPrnamt>
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    <votingAuthority>
      <Sole>124481</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Vanguard Ftse Emerging Markets Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>922042858</cusip>
    <figi>BBG000HT88C8</figi>
    <value>344731</value>
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    <votingAuthority>
      <Sole>6378</Sole>
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      <None>0</None>
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    <nameOfIssuer>Vanguard Growth Etf - US ETP</nameOfIssuer>
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    <cusip>922908736</cusip>
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    <value>3586919</value>
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      <sshPrnamt>8212</sshPrnamt>
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    <votingAuthority>
      <Sole>8212</Sole>
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      <None>0</None>
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    <nameOfIssuer>Vanguard Health Care Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>92204A504</cusip>
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    <value>6598284</value>
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      <sshPrnamt>24229</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24229</Sole>
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      <None>0</None>
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    <nameOfIssuer>Vanguard Information Technology Etf - US ETP</nameOfIssuer>
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    <cusip>92204A702</cusip>
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      <sshPrnamt>2706</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2706</Sole>
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      <None>0</None>
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    <nameOfIssuer>Vanguard Intermediate-Term Corporate Bond Etf - US</nameOfIssuer>
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    <cusip>92206C870</cusip>
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    <value>3207804</value>
    <shrsOrPrnAmt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38765</Sole>
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      <None>0</None>
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    <nameOfIssuer>Vanguard Intermediate-Term Treasury ETF - US ETP</nameOfIssuer>
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    <cusip>92206C706</cusip>
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      <sshPrnamt>6790</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6790</Sole>
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      <None>0</None>
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    <nameOfIssuer>Vanguard Large-Cap Etf - US ETP</nameOfIssuer>
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    <cusip>922908637</cusip>
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    <value>844849</value>
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      <sshPrnamt>2827</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2827</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Vanguard Mega Cap Growth Etf - US ETP</nameOfIssuer>
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    <cusip>921910816</cusip>
    <figi>BBG000V1FPR1</figi>
    <value>961223</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2616</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2616</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Vanguard Mega Cap Value ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>921910840</cusip>
    <figi>BBG000V1FF75</figi>
    <value>7562331</value>
    <shrsOrPrnAmt>
      <sshPrnamt>52172</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>52172</Sole>
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      <None>0</None>
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    <nameOfIssuer>Vanguard Mid-Cap Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>922908629</cusip>
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    <shrsOrPrnAmt>
      <sshPrnamt>1517</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1517</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Vanguard Mid-Cap Value Etf - US ETP</nameOfIssuer>
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    <cusip>922908512</cusip>
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      <sshPrnamt>2658</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2658</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Vanguard Russell 1000 Value - US ETP</nameOfIssuer>
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    <cusip>92206C714</cusip>
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      <sshPrnamt>18939</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18939</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Vanguard S&amp;P 500 Etf - US ETP</nameOfIssuer>
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    <cusip>922908363</cusip>
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      <sshPrnamt>53420</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>53420</Sole>
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      <None>0</None>
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    <nameOfIssuer>Vanguard S&amp;P 500 Growth ETF - US ETP</nameOfIssuer>
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    <cusip>921932505</cusip>
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      <sshPrnamt>9004</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9004</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Vanguard Tax-Exempt Bond Index ETF - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>922907746</cusip>
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      <sshPrnamt>26854</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>26854</Sole>
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      <None>0</None>
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    <nameOfIssuer>Vanguard Total Stock Market Etf - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>922908769</cusip>
    <figi>BBG000HR9779</figi>
    <value>15601632</value>
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      <sshPrnamt>48632</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>48632</Sole>
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      <None>0</None>
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    <nameOfIssuer>Vanguard Value Etf - US ETP</nameOfIssuer>
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    <cusip>922908744</cusip>
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      <sshPrnamt>35045</sshPrnamt>
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    <votingAuthority>
      <Sole>35045</Sole>
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    <nameOfIssuer>Varonis Systems Inc - US</nameOfIssuer>
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      <sshPrnamt>27843</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27843</Sole>
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    <nameOfIssuer>Vaxcyte Inc - US</nameOfIssuer>
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    <cusip>92243G108</cusip>
    <figi>BBG009PHHPL8</figi>
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      <sshPrnamt>20000</sshPrnamt>
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      <Sole>20000</Sole>
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    <nameOfIssuer>Veeva Systems Inc - US</nameOfIssuer>
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      <sshPrnamt>35786</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35786</Sole>
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  <infoTable>
    <nameOfIssuer>Veeva Systems Inc - US</nameOfIssuer>
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    <votingAuthority>
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  <infoTable>
    <nameOfIssuer>Veeva Systems Inc - US</nameOfIssuer>
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      <sshPrnamt>7300</sshPrnamt>
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    <putCall>Put</putCall>
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      <Sole>7300</Sole>
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    <nameOfIssuer>Velo3D Inc - US</nameOfIssuer>
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    <cusip>92259N302</cusip>
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      <sshPrnamt>132757</sshPrnamt>
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      <Sole>132757</Sole>
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    <nameOfIssuer>Velocity Financial Inc - US</nameOfIssuer>
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    <cusip>92262D101</cusip>
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      <sshPrnamt>58902</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>58902</Sole>
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    <nameOfIssuer>Velocity Financial Inc - US</nameOfIssuer>
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      <sshPrnamt>65100</sshPrnamt>
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    <putCall>Put</putCall>
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      <Sole>65100</Sole>
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    <nameOfIssuer>Ventas Inc - US REIT</nameOfIssuer>
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    <cusip>92276F100</cusip>
    <figi>BBG000FRVHB9</figi>
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      <sshPrnamt>3400</sshPrnamt>
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    <putCall>Call</putCall>
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    <votingAuthority>
      <Sole>3400</Sole>
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    <nameOfIssuer>Ventas Inc - US REIT</nameOfIssuer>
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    <cusip>92276F100</cusip>
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    <value>392544</value>
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      <sshPrnamt>4800</sshPrnamt>
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    <putCall>Put</putCall>
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      <Sole>4800</Sole>
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    <nameOfIssuer>Venture Global Inc - US</nameOfIssuer>
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    <cusip>92333F101</cusip>
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      <sshPrnamt>577186</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>577186</Sole>
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    <nameOfIssuer>Venture Global Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92333F101</cusip>
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    <value>21228720</value>
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      <sshPrnamt>1347000</sshPrnamt>
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    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1347000</Sole>
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  <infoTable>
    <nameOfIssuer>Venture Global Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92333F101</cusip>
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    <value>6526216</value>
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      <sshPrnamt>414100</sshPrnamt>
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    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>414100</Sole>
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      <None>0</None>
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  <infoTable>
    <nameOfIssuer>Veralto Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92338C103</cusip>
    <figi>BBG019Q32XJ9</figi>
    <value>274456</value>
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      <sshPrnamt>3104</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3104</Sole>
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  <infoTable>
    <nameOfIssuer>Vericel Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92346J108</cusip>
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      <sshPrnamt>24439</sshPrnamt>
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    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>24439</Sole>
      <Shared>24439</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Veris Residential Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>554489104</cusip>
    <figi>BBG000CL1HL7</figi>
    <value>1434026</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75995</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>75995</Sole>
      <Shared>75995</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Verisign Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92343E102</cusip>
    <figi>BBG000BGKHZ3</figi>
    <value>1911627</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7697</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7697</Sole>
      <Shared>7697</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Verisk Analytics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92345Y106</cusip>
    <figi>BBG000BCZL41</figi>
    <value>28766100</value>
    <shrsOrPrnAmt>
      <sshPrnamt>151600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>151600</Sole>
      <Shared>151600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Verisk Analytics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92345Y106</cusip>
    <figi>BBG000BCZL41</figi>
    <value>303600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1600</Sole>
      <Shared>1600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Veritone Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92347M100</cusip>
    <figi>BBG007NJLS39</figi>
    <value>78800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40000</Sole>
      <Shared>40000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Verizon Communications Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92343V104</cusip>
    <figi>BBG000HS77T5</figi>
    <value>6912540</value>
    <shrsOrPrnAmt>
      <sshPrnamt>137700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>137700</Sole>
      <Shared>137700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Verizon Communications Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92343V104</cusip>
    <figi>BBG000HS77T5</figi>
    <value>34783580</value>
    <shrsOrPrnAmt>
      <sshPrnamt>692900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>692900</Sole>
      <Shared>692900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Verra Mobility Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92511U102</cusip>
    <figi>BBG00G4XQ9Z1</figi>
    <value>2009274</value>
    <shrsOrPrnAmt>
      <sshPrnamt>140607</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>140607</Sole>
      <Shared>140607</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Verra Mobility Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92511U102</cusip>
    <figi>BBG00G4XQ9Z1</figi>
    <value>257220</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18000</Sole>
      <Shared>18000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vertex Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92538J106</cusip>
    <figi>BBG00VVT2F25</figi>
    <value>2597894</value>
    <shrsOrPrnAmt>
      <sshPrnamt>218494</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>218494</Sole>
      <Shared>218494</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vertex Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92532F100</cusip>
    <figi>BBG000C1S2X2</figi>
    <value>714464</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1600</Sole>
      <Shared>1600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vertex Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92532F100</cusip>
    <figi>BBG000C1S2X2</figi>
    <value>1027042</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2300</Sole>
      <Shared>2300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vertical Aerospace Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G9471C206</cusip>
    <figi>BBG01413FNT4</figi>
    <value>435273</value>
    <shrsOrPrnAmt>
      <sshPrnamt>196956</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>196956</Sole>
      <Shared>196956</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vertiv Holdings Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92537N108</cusip>
    <figi>BBG00L2B8KW8</figi>
    <value>716909</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2861</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2861</Sole>
      <Shared>2861</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vertiv Holdings Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92537N108</cusip>
    <figi>BBG00L2B8KW8</figi>
    <value>4836194</value>
    <shrsOrPrnAmt>
      <sshPrnamt>19300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>19300</Sole>
      <Shared>19300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vertiv Holdings Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92537N108</cusip>
    <figi>BBG00L2B8KW8</figi>
    <value>13631552</value>
    <shrsOrPrnAmt>
      <sshPrnamt>54400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>54400</Sole>
      <Shared>54400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vf Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>918204108</cusip>
    <figi>BBG000BWCKB6</figi>
    <value>9228730</value>
    <shrsOrPrnAmt>
      <sshPrnamt>543186</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>543186</Sole>
      <Shared>543186</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vf Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>918204108</cusip>
    <figi>BBG000BWCKB6</figi>
    <value>231064</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13600</Sole>
      <Shared>13600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vf Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>918204108</cusip>
    <figi>BBG000BWCKB6</figi>
    <value>655814</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38600</Sole>
      <Shared>38600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viant Technology Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92557A101</cusip>
    <figi>BBG00Z0ZFGJ2</figi>
    <value>2082248</value>
    <shrsOrPrnAmt>
      <sshPrnamt>185915</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>185915</Sole>
      <Shared>185915</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viasat Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92552V100</cusip>
    <figi>BBG000HHLBF9</figi>
    <value>2033520</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44400</Sole>
      <Shared>44400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viasat Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92552V100</cusip>
    <figi>BBG000HHLBF9</figi>
    <value>1355680</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29600</Sole>
      <Shared>29600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viatris Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92556V106</cusip>
    <figi>BBG00Y4RQNH4</figi>
    <value>3731597</value>
    <shrsOrPrnAmt>
      <sshPrnamt>276210</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>276210</Sole>
      <Shared>276210</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viatris Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92556V106</cusip>
    <figi>BBG00Y4RQNH4</figi>
    <value>147259</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10900</Sole>
      <Shared>10900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viatris Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92556V106</cusip>
    <figi>BBG00Y4RQNH4</figi>
    <value>174279</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12900</Sole>
      <Shared>12900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viavi Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>925550105</cusip>
    <figi>BBG000BP7JB0</figi>
    <value>2126592</value>
    <shrsOrPrnAmt>
      <sshPrnamt>63900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>63900</Sole>
      <Shared>63900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viavi Solutions Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>925550105</cusip>
    <figi>BBG000BP7JB0</figi>
    <value>3188224</value>
    <shrsOrPrnAmt>
      <sshPrnamt>95800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>95800</Sole>
      <Shared>95800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vici Properties Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>925652109</cusip>
    <figi>BBG00HVVB499</figi>
    <value>43621762</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1596697</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1596697</Sole>
      <Shared>1596697</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vici Properties Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>925652109</cusip>
    <figi>BBG00HVVB499</figi>
    <value>423460</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15500</Sole>
      <Shared>15500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vici Properties Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>925652109</cusip>
    <figi>BBG00HVVB499</figi>
    <value>1092800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40000</Sole>
      <Shared>40000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vicor Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>925815102</cusip>
    <figi>BBG000C3VHF1</figi>
    <value>22107876</value>
    <shrsOrPrnAmt>
      <sshPrnamt>137316</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>137316</Sole>
      <Shared>137316</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vicor Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>925815102</cusip>
    <figi>BBG000C3VHF1</figi>
    <value>627900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3900</Sole>
      <Shared>3900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vicor Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>925815102</cusip>
    <figi>BBG000C3VHF1</figi>
    <value>547400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3400</Sole>
      <Shared>3400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Victoria's Secret &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>926400102</cusip>
    <figi>BBG01103B471</figi>
    <value>28650573</value>
    <shrsOrPrnAmt>
      <sshPrnamt>618002</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>618002</Sole>
      <Shared>618002</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Victoria's Secret &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>926400102</cusip>
    <figi>BBG01103B471</figi>
    <value>713944</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15400</Sole>
      <Shared>15400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Victory Capital Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92645B103</cusip>
    <figi>BBG0074JPF34</figi>
    <value>1884776</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28784</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>28784</Sole>
      <Shared>28784</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viking Holdings Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G93A5A101</cusip>
    <figi>BBG004YZ9G29</figi>
    <value>411488</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5600</Sole>
      <Shared>5600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viking Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92686J106</cusip>
    <figi>BBG006LGV869</figi>
    <value>2303474</value>
    <shrsOrPrnAmt>
      <sshPrnamt>70789</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>70789</Sole>
      <Shared>70789</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viking Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92686J106</cusip>
    <figi>BBG006LGV869</figi>
    <value>231034</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7100</Sole>
      <Shared>7100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Village Farms International Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92707Y108</cusip>
    <figi>BBG000TW2J94</figi>
    <value>306348</value>
    <shrsOrPrnAmt>
      <sshPrnamt>107869</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>107869</Sole>
      <Shared>107869</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viper Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>64361Q101</cusip>
    <figi>BBG01VXTFCN2</figi>
    <value>15464785</value>
    <shrsOrPrnAmt>
      <sshPrnamt>329108</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>329108</Sole>
      <Shared>329108</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viper Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>64361Q101</cusip>
    <figi>BBG01VXTFCN2</figi>
    <value>498094</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10600</Sole>
      <Shared>10600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Viper Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>64361Q101</cusip>
    <figi>BBG01VXTFCN2</figi>
    <value>1287526</value>
    <shrsOrPrnAmt>
      <sshPrnamt>27400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>27400</Sole>
      <Shared>27400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vir Biotechnology Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92764N102</cusip>
    <figi>BBG00H2QQ8T5</figi>
    <value>658596</value>
    <shrsOrPrnAmt>
      <sshPrnamt>73504</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>73504</Sole>
      <Shared>73504</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Virtu Financial Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>928254101</cusip>
    <figi>BBG0064N2T78</figi>
    <value>1137939</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25874</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25874</Sole>
      <Shared>25874</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Virtus Investment Partners Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92828Q109</cusip>
    <figi>BBG000DMFQS2</figi>
    <value>1655864</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12325</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12325</Sole>
      <Shared>12325</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Visa Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92826C839</cusip>
    <figi>BBG000PSKYX7</figi>
    <value>10389500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34375</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34375</Sole>
      <Shared>34375</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Visa Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92826C839</cusip>
    <figi>BBG000PSKYX7</figi>
    <value>29075488</value>
    <shrsOrPrnAmt>
      <sshPrnamt>96200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>96200</Sole>
      <Shared>96200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Visa Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92826C839</cusip>
    <figi>BBG000PSKYX7</figi>
    <value>43764352</value>
    <shrsOrPrnAmt>
      <sshPrnamt>144800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>144800</Sole>
      <Shared>144800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vista Energy SAB de CV - US ADR Series A</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92837L109</cusip>
    <figi>BBG00PMMBQS1</figi>
    <value>271692</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3600</Sole>
      <Shared>3600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vistagen Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92840H400</cusip>
    <figi>BBG000BB33L9</figi>
    <value>60677</value>
    <shrsOrPrnAmt>
      <sshPrnamt>106172</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>106172</Sole>
      <Shared>106172</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vistance Networks Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>20337X109</cusip>
    <figi>BBG004LTL7L2</figi>
    <value>2580742</value>
    <shrsOrPrnAmt>
      <sshPrnamt>141799</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>141799</Sole>
      <Shared>141799</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vistance Networks Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>20337X109</cusip>
    <figi>BBG004LTL7L2</figi>
    <value>2387840</value>
    <shrsOrPrnAmt>
      <sshPrnamt>131200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>131200</Sole>
      <Shared>131200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vistance Networks Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>20337X109</cusip>
    <figi>BBG004LTL7L2</figi>
    <value>4884880</value>
    <shrsOrPrnAmt>
      <sshPrnamt>268400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>268400</Sole>
      <Shared>268400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vistra Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92840M102</cusip>
    <figi>BBG00DXDL6Q1</figi>
    <value>24817228</value>
    <shrsOrPrnAmt>
      <sshPrnamt>165085</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>165085</Sole>
      <Shared>165085</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vistra Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92840M102</cusip>
    <figi>BBG00DXDL6Q1</figi>
    <value>3863481</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25700</Sole>
      <Shared>25700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vistra Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92840M102</cusip>
    <figi>BBG00DXDL6Q1</figi>
    <value>13334271</value>
    <shrsOrPrnAmt>
      <sshPrnamt>88700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>88700</Sole>
      <Shared>88700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vital Farms Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92847W103</cusip>
    <figi>BBG006XWWBL6</figi>
    <value>553419</value>
    <shrsOrPrnAmt>
      <sshPrnamt>39194</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>39194</Sole>
      <Shared>39194</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vital Farms Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92847W103</cusip>
    <figi>BBG006XWWBL6</figi>
    <value>494200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>35000</Sole>
      <Shared>35000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vital Farms Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92847W103</cusip>
    <figi>BBG006XWWBL6</figi>
    <value>415128</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29400</Sole>
      <Shared>29400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vitesse Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92852X103</cusip>
    <figi>BBG01B9G0GS3</figi>
    <value>1576306</value>
    <shrsOrPrnAmt>
      <sshPrnamt>86801</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>86801</Sole>
      <Shared>86801</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vivani Medical Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92854B109</cusip>
    <figi>BBG002ZQP3H7</figi>
    <value>426302</value>
    <shrsOrPrnAmt>
      <sshPrnamt>426302</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>426302</Sole>
      <Shared>426302</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vizsla Silver Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92859G608</cusip>
    <figi>BBG00QQ0VMJ0</figi>
    <value>34327</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10402</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10402</Sole>
      <Shared>10402</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vizsla Silver Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92859G608</cusip>
    <figi>BBG00QQ0VMJ0</figi>
    <value>390720</value>
    <shrsOrPrnAmt>
      <sshPrnamt>118400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>118400</Sole>
      <Shared>118400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vodafone Group Plc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92857W308</cusip>
    <figi>BBG000C4R6H6</figi>
    <value>483644</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32200</Sole>
      <Shared>32200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vontier Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>928881101</cusip>
    <figi>BBG00RRGSJR4</figi>
    <value>1335729</value>
    <shrsOrPrnAmt>
      <sshPrnamt>37658</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>37658</Sole>
      <Shared>37658</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vor Biopharma Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>929033207</cusip>
    <figi>BBG00NBJRDT6</figi>
    <value>2721867</value>
    <shrsOrPrnAmt>
      <sshPrnamt>152571</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>152571</Sole>
      <Shared>152571</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vornado Realty Trust - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>929042109</cusip>
    <figi>BBG000BWHD54</figi>
    <value>20423462</value>
    <shrsOrPrnAmt>
      <sshPrnamt>785820</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>785820</Sole>
      <Shared>785820</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Voyager Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92892B103</cusip>
    <figi>BBG01V317FS3</figi>
    <value>2841207</value>
    <shrsOrPrnAmt>
      <sshPrnamt>121471</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>121471</Sole>
      <Shared>121471</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vulcan Materials Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>929160109</cusip>
    <figi>BBG000BWGYF8</figi>
    <value>34852766</value>
    <shrsOrPrnAmt>
      <sshPrnamt>127994</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>127994</Sole>
      <Shared>127994</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vulcan Materials Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>929160109</cusip>
    <figi>BBG000BWGYF8</figi>
    <value>408450</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1500</Sole>
      <Shared>1500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Vulcan Materials Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>929160109</cusip>
    <figi>BBG000BWGYF8</figi>
    <value>762440</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2800</Sole>
      <Shared>2800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>W R Berkley Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>084423102</cusip>
    <figi>BBG000BD1HP2</figi>
    <value>28258147</value>
    <shrsOrPrnAmt>
      <sshPrnamt>426345</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>426345</Sole>
      <Shared>426345</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>W&amp;T Offshore Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92922P106</cusip>
    <figi>BBG000FFFQR6</figi>
    <value>3806958</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1116410</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1116410</Sole>
      <Shared>1116410</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>W&amp;T Offshore Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92922P106</cusip>
    <figi>BBG000FFFQR6</figi>
    <value>85250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>25000</Sole>
      <Shared>25000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Walker &amp; Dunlop Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>93148P102</cusip>
    <figi>BBG000K8K0L3</figi>
    <value>414465</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9339</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9339</Sole>
      <Shared>9339</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Walmart Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>931142103</cusip>
    <figi>BBG000BWXBC2</figi>
    <value>29016024</value>
    <shrsOrPrnAmt>
      <sshPrnamt>233473</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>233473</Sole>
      <Shared>233473</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Walmart Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>931142103</cusip>
    <figi>BBG000BWXBC2</figi>
    <value>7531368</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>60600</Sole>
      <Shared>60600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Walmart Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>931142103</cusip>
    <figi>BBG000BWXBC2</figi>
    <value>50532248</value>
    <shrsOrPrnAmt>
      <sshPrnamt>406600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>406600</Sole>
      <Shared>406600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Walt Disney Co/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>254687106</cusip>
    <figi>BBG000BH4R78</figi>
    <value>60504183</value>
    <shrsOrPrnAmt>
      <sshPrnamt>627767</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>627767</Sole>
      <Shared>627767</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Walt Disney Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>254687106</cusip>
    <figi>BBG000BH4R78</figi>
    <value>1175836</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12200</Sole>
      <Shared>12200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Walt Disney Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>254687106</cusip>
    <figi>BBG000BH4R78</figi>
    <value>30456080</value>
    <shrsOrPrnAmt>
      <sshPrnamt>316000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>316000</Sole>
      <Shared>316000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Warby Parker Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>93403J106</cusip>
    <figi>BBG005DWN8K8</figi>
    <value>920527</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43689</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43689</Sole>
      <Shared>43689</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Warner Bros Discovery Inc - A</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>934423104</cusip>
    <figi>BBG011386VF4</figi>
    <value>193732689</value>
    <shrsOrPrnAmt>
      <sshPrnamt>7055087</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>7055087</Sole>
      <Shared>7055087</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Warner Bros Discovery Inc - A</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>934423104</cusip>
    <figi>BBG011386VF4</figi>
    <value>4758818</value>
    <shrsOrPrnAmt>
      <sshPrnamt>173300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>173300</Sole>
      <Shared>173300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Warner Bros Discovery Inc - A</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>934423104</cusip>
    <figi>BBG011386VF4</figi>
    <value>9248528</value>
    <shrsOrPrnAmt>
      <sshPrnamt>336800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>336800</Sole>
      <Shared>336800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Warner Music Group Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>934550203</cusip>
    <figi>BBG00RP2T9T6</figi>
    <value>8614106</value>
    <shrsOrPrnAmt>
      <sshPrnamt>337279</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>337279</Sole>
      <Shared>337279</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Washington Trust Bancorp Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>940610108</cusip>
    <figi>BBG000BWLZX9</figi>
    <value>368863</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11024</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11024</Sole>
      <Shared>11024</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Waste Connections Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>94106B101</cusip>
    <figi>BBG000FLHZZ2</figi>
    <value>19827751</value>
    <shrsOrPrnAmt>
      <sshPrnamt>122062</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>122062</Sole>
      <Shared>122062</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Waste Management Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>94106L109</cusip>
    <figi>BBG000BWVSR1</figi>
    <value>275748</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1200</Sole>
      <Shared>1200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Waste Management Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>94106L109</cusip>
    <figi>BBG000BWVSR1</figi>
    <value>4297073</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18700</Sole>
      <Shared>18700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WaterBridge Infrastructure LLC - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>940923105</cusip>
    <figi>BBG01WX46VV4</figi>
    <value>3142226</value>
    <shrsOrPrnAmt>
      <sshPrnamt>117291</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>117291</Sole>
      <Shared>117291</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Watts Water Technologies Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>942749102</cusip>
    <figi>BBG000C4Z6C2</figi>
    <value>11214774</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38633</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38633</Sole>
      <Shared>38633</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wave Life Sciences Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>Y95308105</cusip>
    <figi>BBG00B642V54</figi>
    <value>709775</value>
    <shrsOrPrnAmt>
      <sshPrnamt>97900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>97900</Sole>
      <Shared>97900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wayfair Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>94419L101</cusip>
    <figi>BBG001B17MV2</figi>
    <value>4047727</value>
    <shrsOrPrnAmt>
      <sshPrnamt>53819</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>53819</Sole>
      <Shared>53819</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wayfair Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>94419L101</cusip>
    <figi>BBG001B17MV2</figi>
    <value>940125</value>
    <shrsOrPrnAmt>
      <sshPrnamt>12500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>12500</Sole>
      <Shared>12500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wayfair Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>94419L101</cusip>
    <figi>BBG001B17MV2</figi>
    <value>2895585</value>
    <shrsOrPrnAmt>
      <sshPrnamt>38500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>38500</Sole>
      <Shared>38500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Webster Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>947890109</cusip>
    <figi>BBG000BWMX63</figi>
    <value>213800896</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3079817</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>3079817</Sole>
      <Shared>3079817</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WEBULL CORP - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G9572D103</cusip>
    <figi>BBG01TF8MHQ1</figi>
    <value>8616557</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1795116</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1795116</Sole>
      <Shared>1795116</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WEBULL CORP - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G9572D103</cusip>
    <figi>BBG01TF8MHQ1</figi>
    <value>1231200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>256500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>256500</Sole>
      <Shared>256500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WEBULL CORP - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G9572D103</cusip>
    <figi>BBG01TF8MHQ1</figi>
    <value>156480</value>
    <shrsOrPrnAmt>
      <sshPrnamt>32600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>32600</Sole>
      <Shared>32600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wec Energy Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92939U106</cusip>
    <figi>BBG000BWP7D9</figi>
    <value>5936917</value>
    <shrsOrPrnAmt>
      <sshPrnamt>51282</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>51282</Sole>
      <Shared>51282</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wec Energy Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92939U106</cusip>
    <figi>BBG000BWP7D9</figi>
    <value>301002</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2600</Sole>
      <Shared>2600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Weis Markets Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>948849104</cusip>
    <figi>BBG000BWW509</figi>
    <value>7866697</value>
    <shrsOrPrnAmt>
      <sshPrnamt>115027</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>115027</Sole>
      <Shared>115027</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wells Fargo &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>949746101</cusip>
    <figi>BBG000BWQFY7</figi>
    <value>105902874</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1330271</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1330271</Sole>
      <Shared>1330271</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wells Fargo &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>949746101</cusip>
    <figi>BBG000BWQFY7</figi>
    <value>8072454</value>
    <shrsOrPrnAmt>
      <sshPrnamt>101400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>101400</Sole>
      <Shared>101400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wells Fargo &amp; Co - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>949746101</cusip>
    <figi>BBG000BWQFY7</figi>
    <value>15850351</value>
    <shrsOrPrnAmt>
      <sshPrnamt>199100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>199100</Sole>
      <Shared>199100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Welltower Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>95040Q104</cusip>
    <figi>BBG000BKY1G5</figi>
    <value>2352749</value>
    <shrsOrPrnAmt>
      <sshPrnamt>11900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>11900</Sole>
      <Shared>11900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Welltower Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>95040Q104</cusip>
    <figi>BBG000BKY1G5</figi>
    <value>2906337</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14700</Sole>
      <Shared>14700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wendy's Co/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>95058W100</cusip>
    <figi>BBG000D52545</figi>
    <value>3475695</value>
    <shrsOrPrnAmt>
      <sshPrnamt>500100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>500100</Sole>
      <Shared>500100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WeRide Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>950915108</cusip>
    <figi>BBG01P0V70V2</figi>
    <value>145620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>18000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>18000</Sole>
      <Shared>18000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>West Pharmaceutical Services Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>955306105</cusip>
    <figi>BBG000BX24N8</figi>
    <value>16395616</value>
    <shrsOrPrnAmt>
      <sshPrnamt>65415</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>65415</Sole>
      <Shared>65415</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Western Alliance Bancorp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>957638109</cusip>
    <figi>BBG000Q1KFH4</figi>
    <value>27632279</value>
    <shrsOrPrnAmt>
      <sshPrnamt>390011</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>390011</Sole>
      <Shared>390011</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Western Alliance Bancorp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>957638109</cusip>
    <figi>BBG000Q1KFH4</figi>
    <value>332995</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4700</Sole>
      <Shared>4700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Western Alliance Bancorp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>957638109</cusip>
    <figi>BBG000Q1KFH4</figi>
    <value>3422055</value>
    <shrsOrPrnAmt>
      <sshPrnamt>48300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>48300</Sole>
      <Shared>48300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Western Copper &amp; Gold Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>95805V108</cusip>
    <figi>BBG000PLGM27</figi>
    <value>266288</value>
    <shrsOrPrnAmt>
      <sshPrnamt>105252</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>105252</Sole>
      <Shared>105252</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Western Digital Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>958102105</cusip>
    <figi>BBG000BWNFZ9</figi>
    <value>15091449</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55793</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>55793</Sole>
      <Shared>55793</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Western Digital Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>958102105</cusip>
    <figi>BBG000BWNFZ9</figi>
    <value>23262140</value>
    <shrsOrPrnAmt>
      <sshPrnamt>86000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>86000</Sole>
      <Shared>86000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Western Digital Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>958102105</cusip>
    <figi>BBG000BWNFZ9</figi>
    <value>34785014</value>
    <shrsOrPrnAmt>
      <sshPrnamt>128600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>128600</Sole>
      <Shared>128600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Westinghouse Air Brake Technologies Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>929740108</cusip>
    <figi>BBG000BDD940</figi>
    <value>324883</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1300</Sole>
      <Shared>1300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Weyerhaeuser Co - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>962166104</cusip>
    <figi>BBG000BX3BL3</figi>
    <value>1043161</value>
    <shrsOrPrnAmt>
      <sshPrnamt>42700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>42700</Sole>
      <Shared>42700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Weyerhaeuser Co - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>962166104</cusip>
    <figi>BBG000BX3BL3</figi>
    <value>728014</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29800</Sole>
      <Shared>29800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wheaton Precious Metals Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>962879102</cusip>
    <figi>BBG000PVRDL2</figi>
    <value>4566616</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34857</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34857</Sole>
      <Shared>34857</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wheaton Precious Metals Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>962879102</cusip>
    <figi>BBG000PVRDL2</figi>
    <value>1925847</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14700</Sole>
      <Shared>14700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wheaton Precious Metals Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>962879102</cusip>
    <figi>BBG000PVRDL2</figi>
    <value>10585608</value>
    <shrsOrPrnAmt>
      <sshPrnamt>80800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>80800</Sole>
      <Shared>80800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Whirlpool Corp - US</nameOfIssuer>
    <titleOfClass>Convertible Preferred Equity</titleOfClass>
    <cusip>963320205</cusip>
    <figi>BBG020LP9RZ1</figi>
    <value>391258</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9500</Sole>
      <Shared>9500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Whirlpool Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>963320106</cusip>
    <figi>BBG000BWSV34</figi>
    <value>7370864</value>
    <shrsOrPrnAmt>
      <sshPrnamt>136700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>136700</Sole>
      <Shared>136700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Whirlpool Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>963320106</cusip>
    <figi>BBG000BWSV34</figi>
    <value>8438480</value>
    <shrsOrPrnAmt>
      <sshPrnamt>156500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>156500</Sole>
      <Shared>156500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Whitefiber Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G96115103</cusip>
    <figi>BBG01W3459T0</figi>
    <value>849457</value>
    <shrsOrPrnAmt>
      <sshPrnamt>71323</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>71323</Sole>
      <Shared>71323</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Willdan Group Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>96924N100</cusip>
    <figi>BBG000Q1CKB8</figi>
    <value>8489892</value>
    <shrsOrPrnAmt>
      <sshPrnamt>110892</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>110892</Sole>
      <Shared>110892</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Williams Cos Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>969457100</cusip>
    <figi>BBG000BWVCP8</figi>
    <value>23540764</value>
    <shrsOrPrnAmt>
      <sshPrnamt>323451</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>323451</Sole>
      <Shared>323451</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Williams Cos Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>969457100</cusip>
    <figi>BBG000BWVCP8</figi>
    <value>1266372</value>
    <shrsOrPrnAmt>
      <sshPrnamt>17400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>17400</Sole>
      <Shared>17400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Williams Cos Inc/The - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>969457100</cusip>
    <figi>BBG000BWVCP8</figi>
    <value>6863154</value>
    <shrsOrPrnAmt>
      <sshPrnamt>94300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>94300</Sole>
      <Shared>94300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Williams-Sonoma Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>969904101</cusip>
    <figi>BBG000FSMWC3</figi>
    <value>328194</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1800</Sole>
      <Shared>1800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Williams-Sonoma Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>969904101</cusip>
    <figi>BBG000FSMWC3</figi>
    <value>419359</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2300</Sole>
      <Shared>2300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wingstop Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>974155103</cusip>
    <figi>BBG008N298Y8</figi>
    <value>2032587</value>
    <shrsOrPrnAmt>
      <sshPrnamt>13116</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>13116</Sole>
      <Shared>13116</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wingstop Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>974155103</cusip>
    <figi>BBG008N298Y8</figi>
    <value>1255257</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>8100</Sole>
      <Shared>8100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wingstop Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>974155103</cusip>
    <figi>BBG008N298Y8</figi>
    <value>2371041</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>15300</Sole>
      <Shared>15300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Winnebago Industries Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>974637100</cusip>
    <figi>BBG000BWS3F3</figi>
    <value>2965154</value>
    <shrsOrPrnAmt>
      <sshPrnamt>95681</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>95681</Sole>
      <Shared>95681</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wintrust Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>97650W108</cusip>
    <figi>BBG000HD3DW5</figi>
    <value>4433020</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31906</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31906</Sole>
      <Shared>31906</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WisdomTree Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>97717P104</cusip>
    <figi>BBG000KLDTJ2</figi>
    <value>1593607</value>
    <shrsOrPrnAmt>
      <sshPrnamt>109451</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>109451</Sole>
      <Shared>109451</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WisdomTree Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>97717P104</cusip>
    <figi>BBG000KLDTJ2</figi>
    <value>2242240</value>
    <shrsOrPrnAmt>
      <sshPrnamt>154000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>154000</Sole>
      <Shared>154000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wisdomtree India Earnings Fund - US ETP</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>97717W422</cusip>
    <figi>BBG000VC1C55</figi>
    <value>894214</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21917</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>21917</Sole>
      <Shared>21917</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>WisdomTree U.S. Quality Dividend Growth Fund - US</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>97717X669</cusip>
    <figi>BBG004LMH377</figi>
    <value>20874298</value>
    <shrsOrPrnAmt>
      <sshPrnamt>237640</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>237640</Sole>
      <Shared>237640</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wix.Com Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>M98068105</cusip>
    <figi>BBG005CM7J89</figi>
    <value>3743940</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41567</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41567</Sole>
      <Shared>41567</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wix.Com Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M98068105</cusip>
    <figi>BBG005CM7J89</figi>
    <value>8133321</value>
    <shrsOrPrnAmt>
      <sshPrnamt>90300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>90300</Sole>
      <Shared>90300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wix.Com Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M98068105</cusip>
    <figi>BBG005CM7J89</figi>
    <value>7908146</value>
    <shrsOrPrnAmt>
      <sshPrnamt>87800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>87800</Sole>
      <Shared>87800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wolfspeed Inc/DE - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>97785W106</cusip>
    <figi>BBG01XLDHDP0</figi>
    <value>3558299</value>
    <shrsOrPrnAmt>
      <sshPrnamt>218033</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>218033</Sole>
      <Shared>218033</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wolfspeed Inc/DE - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>97785W106</cusip>
    <figi>BBG01XLDHDP0</figi>
    <value>483072</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>29600</Sole>
      <Shared>29600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wolfspeed Inc/DE - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>97785W106</cusip>
    <figi>BBG01XLDHDP0</figi>
    <value>334560</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20500</Sole>
      <Shared>20500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wolverine World Wide Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>978097103</cusip>
    <figi>BBG000BX2YN2</figi>
    <value>9640093</value>
    <shrsOrPrnAmt>
      <sshPrnamt>590692</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>590692</Sole>
      <Shared>590692</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Woodward Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>980745103</cusip>
    <figi>BBG000BD53V2</figi>
    <value>23916572</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66821</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>66821</Sole>
      <Shared>66821</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Woodward Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>980745103</cusip>
    <figi>BBG000BD53V2</figi>
    <value>465296</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1300</Sole>
      <Shared>1300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Woodward Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>980745103</cusip>
    <figi>BBG000BD53V2</figi>
    <value>214752</value>
    <shrsOrPrnAmt>
      <sshPrnamt>600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>600</Sole>
      <Shared>600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Workday Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98138H101</cusip>
    <figi>BBG000VC0T95</figi>
    <value>32480000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>250000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>250000</Sole>
      <Shared>250000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Workday Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98138H101</cusip>
    <figi>BBG000VC0T95</figi>
    <value>23879296</value>
    <shrsOrPrnAmt>
      <sshPrnamt>183800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>183800</Sole>
      <Shared>183800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Workiva Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98139A105</cusip>
    <figi>BBG007BVZ8H9</figi>
    <value>10708415</value>
    <shrsOrPrnAmt>
      <sshPrnamt>179581</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>179581</Sole>
      <Shared>179581</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Worthington Enterprises Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>981811102</cusip>
    <figi>BBG000HL7499</figi>
    <value>245058</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4700</Sole>
      <Shared>4700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wp Carey Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>92936U109</cusip>
    <figi>BBG000BCQM58</figi>
    <value>667979</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9829</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>9829</Sole>
      <Shared>9829</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wp Carey Inc - US REIT</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>92936U109</cusip>
    <figi>BBG000BCQM58</figi>
    <value>414556</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6100</Sole>
      <Shared>6100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wsfs Financial Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>929328102</cusip>
    <figi>BBG000BX1C88</figi>
    <value>2043596</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31219</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31219</Sole>
      <Shared>31219</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ww Grainger Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>384802104</cusip>
    <figi>BBG000BKR1D6</figi>
    <value>11821108</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10837</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>10837</Sole>
      <Shared>10837</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ww Grainger Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>384802104</cusip>
    <figi>BBG000BKR1D6</figi>
    <value>2181620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2000</Sole>
      <Shared>2000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ww Grainger Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>384802104</cusip>
    <figi>BBG000BKR1D6</figi>
    <value>1527134</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1400</Sole>
      <Shared>1400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wynn Resorts Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>983134107</cusip>
    <figi>BBG000LD9JQ8</figi>
    <value>17618925</value>
    <shrsOrPrnAmt>
      <sshPrnamt>173500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>173500</Sole>
      <Shared>173500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Wynn Resorts Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>983134107</cusip>
    <figi>BBG000LD9JQ8</figi>
    <value>4224480</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>41600</Sole>
      <Shared>41600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Xcel Energy Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98389B100</cusip>
    <figi>BBG000BCTQ65</figi>
    <value>508416</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6400</Sole>
      <Shared>6400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Xencor Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98401F105</cusip>
    <figi>BBG0026ZG4W0</figi>
    <value>528445</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43818</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43818</Sole>
      <Shared>43818</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Xenon Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98420N105</cusip>
    <figi>BBG0073DM784</figi>
    <value>28818617</value>
    <shrsOrPrnAmt>
      <sshPrnamt>495591</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>495591</Sole>
      <Shared>495591</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Xenon Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98420N105</cusip>
    <figi>BBG0073DM784</figi>
    <value>2756310</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>47400</Sole>
      <Shared>47400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Xeris Biopharma Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98422E103</cusip>
    <figi>BBG012V1MG52</figi>
    <value>623001</value>
    <shrsOrPrnAmt>
      <sshPrnamt>107414</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>107414</Sole>
      <Shared>107414</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Xp Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>G98239109</cusip>
    <figi>BBG00QVJYGM9</figi>
    <value>319701</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16791</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16791</Sole>
      <Shared>16791</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Xp Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>G98239109</cusip>
    <figi>BBG00QVJYGM9</figi>
    <value>662592</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34800</Sole>
      <Shared>34800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Xpel Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98379L100</cusip>
    <figi>BBG000R5XCX9</figi>
    <value>1790096</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40445</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>40445</Sole>
      <Shared>40445</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Xpeng Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98422D105</cusip>
    <figi>BBG00WKJG3M7</figi>
    <value>3803553</value>
    <shrsOrPrnAmt>
      <sshPrnamt>222300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>222300</Sole>
      <Shared>222300</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Xpeng Inc - US ADR</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98422D105</cusip>
    <figi>BBG00WKJG3M7</figi>
    <value>2251676</value>
    <shrsOrPrnAmt>
      <sshPrnamt>131600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>131600</Sole>
      <Shared>131600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>XPLR Infrastructure LP - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>65341B106</cusip>
    <figi>BBG006JNW321</figi>
    <value>2249666</value>
    <shrsOrPrnAmt>
      <sshPrnamt>211833</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>211833</Sole>
      <Shared>211833</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>XPO, Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>983793100</cusip>
    <figi>BBG000L5CJF3</figi>
    <value>1342395</value>
    <shrsOrPrnAmt>
      <sshPrnamt>6900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>6900</Sole>
      <Shared>6900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>XPO, Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>983793100</cusip>
    <figi>BBG000L5CJF3</figi>
    <value>1089480</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>5600</Sole>
      <Shared>5600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Xtrackers Harvest Csi 300 China A-Shares Etf - US</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>233051879</cusip>
    <figi>BBG005HJL923</figi>
    <value>4066944</value>
    <shrsOrPrnAmt>
      <sshPrnamt>124600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>124600</Sole>
      <Shared>124600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Xtrackers Harvest Csi 300 China A-Shares Etf - US</nameOfIssuer>
    <titleOfClass>ETF Option</titleOfClass>
    <cusip>233051879</cusip>
    <figi>BBG005HJL923</figi>
    <value>2111808</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>64700</Sole>
      <Shared>64700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Xtrackers Harvest Csi 300 China A-Shares Etf - US</nameOfIssuer>
    <titleOfClass>Exchange-Traded Fund</titleOfClass>
    <cusip>233051879</cusip>
    <figi>BBG005HJL923</figi>
    <value>662755</value>
    <shrsOrPrnAmt>
      <sshPrnamt>20305</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>20305</Sole>
      <Shared>20305</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Xylem Inc/Ny - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98419M100</cusip>
    <figi>BBG001D8R5D0</figi>
    <value>19425562</value>
    <shrsOrPrnAmt>
      <sshPrnamt>162557</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>162557</Sole>
      <Shared>162557</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Xylem Inc/Ny - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98419M100</cusip>
    <figi>BBG001D8R5D0</figi>
    <value>203150</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1700</Sole>
      <Shared>1700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Xylem Inc/Ny - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98419M100</cusip>
    <figi>BBG001D8R5D0</figi>
    <value>227050</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1900</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1900</Sole>
      <Shared>1900</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Yext Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98585N106</cusip>
    <figi>BBG001MKZGY7</figi>
    <value>140037</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36468</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36468</Sole>
      <Shared>36468</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>York Space Systems Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>987084100</cusip>
    <figi>BBG01YLLYSD1</figi>
    <value>316499</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14276</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>14276</Sole>
      <Shared>14276</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ypf Sa - US ADR Class D</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>984245100</cusip>
    <figi>BBG000BHPFQ0</figi>
    <value>8994412</value>
    <shrsOrPrnAmt>
      <sshPrnamt>194600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>194600</Sole>
      <Shared>194600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ypf Sa - US ADR Class D</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>984245100</cusip>
    <figi>BBG000BHPFQ0</figi>
    <value>3642136</value>
    <shrsOrPrnAmt>
      <sshPrnamt>78800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>78800</Sole>
      <Shared>78800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Yum! Brands Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>988498101</cusip>
    <figi>BBG000BH3GZ2</figi>
    <value>746304</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>4800</Sole>
      <Shared>4800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zebra Technologies Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>989207105</cusip>
    <figi>BBG000CC7LQ7</figi>
    <value>355436</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1700</Sole>
      <Shared>1700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zebra Technologies Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>989207105</cusip>
    <figi>BBG000CC7LQ7</figi>
    <value>229988</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>1100</Sole>
      <Shared>1100</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zentalis Pharmaceuticals Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98943L107</cusip>
    <figi>BBG00R2K8TF5</figi>
    <value>81547</value>
    <shrsOrPrnAmt>
      <sshPrnamt>34849</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>34849</Sole>
      <Shared>34849</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zeta Global Holdings Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98956A105</cusip>
    <figi>BBG010FXVQ98</figi>
    <value>10449490</value>
    <shrsOrPrnAmt>
      <sshPrnamt>656375</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>656375</Sole>
      <Shared>656375</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zeta Global Holdings Corp - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98956A105</cusip>
    <figi>BBG010FXVQ98</figi>
    <value>501480</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31500</Sole>
      <Shared>31500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zevra Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>488445206</cusip>
    <figi>BBG0026ZG1F5</figi>
    <value>4129776</value>
    <shrsOrPrnAmt>
      <sshPrnamt>443109</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>443109</Sole>
      <Shared>443109</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zevra Therapeutics Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>488445206</cusip>
    <figi>BBG0026ZG1F5</figi>
    <value>1236764</value>
    <shrsOrPrnAmt>
      <sshPrnamt>132700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>132700</Sole>
      <Shared>132700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zillow Group Inc - C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98954M200</cusip>
    <figi>BBG009NRSWJ4</figi>
    <value>2027620</value>
    <shrsOrPrnAmt>
      <sshPrnamt>49000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>49000</Sole>
      <Shared>49000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zillow Group Inc - C</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98954M200</cusip>
    <figi>BBG009NRSWJ4</figi>
    <value>2375212</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>57400</Sole>
      <Shared>57400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zim Integrated Shipping Services Ltd - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>M9T951109</cusip>
    <figi>BBG00YQ7XR05</figi>
    <value>4262297</value>
    <shrsOrPrnAmt>
      <sshPrnamt>161757</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>161757</Sole>
      <Shared>161757</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zim Integrated Shipping Services Ltd - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>M9T951109</cusip>
    <figi>BBG00YQ7XR05</figi>
    <value>1238450</value>
    <shrsOrPrnAmt>
      <sshPrnamt>47000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>47000</Sole>
      <Shared>47000</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zimmer Biomet Holdings Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98956P102</cusip>
    <figi>BBG000BKPL53</figi>
    <value>244134</value>
    <shrsOrPrnAmt>
      <sshPrnamt>2700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>2700</Sole>
      <Shared>2700</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zions Bancorp Na - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>989701107</cusip>
    <figi>BBG000BX9WL1</figi>
    <value>1354070</value>
    <shrsOrPrnAmt>
      <sshPrnamt>23500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>23500</Sole>
      <Shared>23500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zions Bancorp Na - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>989701107</cusip>
    <figi>BBG000BX9WL1</figi>
    <value>6199912</value>
    <shrsOrPrnAmt>
      <sshPrnamt>107600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>107600</Sole>
      <Shared>107600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Ziprecruiter Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98980B103</cusip>
    <figi>BBG010JBYV98</figi>
    <value>916854</value>
    <shrsOrPrnAmt>
      <sshPrnamt>498290</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>498290</Sole>
      <Shared>498290</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zoetis Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98978V103</cusip>
    <figi>BBG0039320N9</figi>
    <value>1950465</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>16500</Sole>
      <Shared>16500</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zoetis Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98978V103</cusip>
    <figi>BBG0039320N9</figi>
    <value>5295808</value>
    <shrsOrPrnAmt>
      <sshPrnamt>44800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>44800</Sole>
      <Shared>44800</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zoom Communications Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98980L101</cusip>
    <figi>BBG0042V6JM8</figi>
    <value>10637848</value>
    <shrsOrPrnAmt>
      <sshPrnamt>132328</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>132328</Sole>
      <Shared>132328</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zoom Communications Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98980L101</cusip>
    <figi>BBG0042V6JM8</figi>
    <value>2508168</value>
    <shrsOrPrnAmt>
      <sshPrnamt>31200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>31200</Sole>
      <Shared>31200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zoom Communications Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98980L101</cusip>
    <figi>BBG0042V6JM8</figi>
    <value>5193194</value>
    <shrsOrPrnAmt>
      <sshPrnamt>64600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>64600</Sole>
      <Shared>64600</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zscaler Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98980G102</cusip>
    <figi>BBG003338H34</figi>
    <value>6060528</value>
    <shrsOrPrnAmt>
      <sshPrnamt>43200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>43200</Sole>
      <Shared>43200</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zscaler Inc - US</nameOfIssuer>
    <titleOfClass>Equity Option</titleOfClass>
    <cusip>98980G102</cusip>
    <figi>BBG003338H34</figi>
    <value>24887446</value>
    <shrsOrPrnAmt>
      <sshPrnamt>177400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>177400</Sole>
      <Shared>177400</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zumiez Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>989817101</cusip>
    <figi>BBG000PYX812</figi>
    <value>1835047</value>
    <shrsOrPrnAmt>
      <sshPrnamt>82809</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>82809</Sole>
      <Shared>82809</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zurn Elkay Water Solutions Corp - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98983L108</cusip>
    <figi>BBG000H8R0N8</figi>
    <value>13980574</value>
    <shrsOrPrnAmt>
      <sshPrnamt>311788</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>311788</Sole>
      <Shared>311788</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>Zymeworks Inc - US</nameOfIssuer>
    <titleOfClass>Equity</titleOfClass>
    <cusip>98985Y108</cusip>
    <figi>BBG019XSYC89</figi>
    <value>923350</value>
    <shrsOrPrnAmt>
      <sshPrnamt>36875</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>DFND</investmentDiscretion>
    <votingAuthority>
      <Sole>36875</Sole>
      <Shared>36875</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
</informationTable>
