Ionic Capital Management 13F-HR Quarterly holdings report by institutional manager

The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL

OMB Number:		3235-0006
Expires:	Oct 31, 2018
Estimated average burden
hours per response:		23.8

COLUMN 1	COLUMN 2	COLUMN 3	COLUMN 4	COLUMN 5			COLUMN 6	COLUMN 7	COLUMN 8
			VALUE	SHRS OR	SH/	PUT/	INVESTMENT	OTHER	VOTING AUTHORITY
NAME OF ISSUER	TITLE OF CLASS	CUSIP	(x$1000)	PRN AMT	PRN	CALL	DISCRETION	MANAGER	SOLE	SHARED	NONE
ALCOA INC	COM	013817101	8,524	1,090,000	SH	Put	DFND	1	1,090,000	0	0
ALCOA INC	COM	013817101	4,526	578,714	SH		DFND	1	578,714	0	0
ALCOA INC	NOTE 5.250% 3/1	013817AT8	17,271	13,609,000	PRN		DFND	1	13,609,000	0	0
ALCOA INC	NOTE 5.250% 3/1	013817AT8	496	391,000	PRN		DFND		391,000	0	0
AMERICAN INTL GROUP INC	COM NEW	026874784	21,358	477,800	SH		DFND		477,800	0	0
ANGLOGOLD ASHANTI HLDGS FIN	MAND BD CV 13	03512Q206	4,133	241,733	SH		DFND	1	241,733	0	0
ANGLOGOLD ASHANTI HLDGS FIN	MAND BD CV 13	03512Q206	188	10,983	SH		DFND		10,983	0	0
ANGLOGOLD ASHANTI LTD	SPONSORED ADR	035128206	4,486	313,700	SH	Call	DFND	1	313,700	0	0
ANGLOGOLD ASHANTI LTD	SPONSORED ADR	035128206	237	16,600	SH	Call	DFND		16,600	0	0
ANNALY CAP MGMT INC	COM	035710409	507	40,300	SH	Call	DFND	1	40,300	0	0
APACHE CORP	COM	037411105	7,126	85,000	SH	Call	DFND		85,000	0	0
APACHE CORP	PFD CONV SER D	037411808	6,642	139,132	SH		DFND		139,132	0	0
APPLE INC	COM	037833100	7,138	18,000	SH	Call	DFND	1	18,000	0	0
APPLE INC	COM	037833100	793	2,000	SH	Call	DFND		2,000	0	0
APPLE INC	COM	037833100	7,138	18,000	SH	Put	DFND	1	18,000	0	0
APPLE INC	COM	037833100	793	2,000	SH	Put	DFND		2,000	0	0
APPLE INC	COM	037833100	2,395	6,039	SH		DFND	1	6,039	0	0
APPLE INC	COM	037833100	20	50	SH		DFND		50	0	0
ARCELORMITTAL SA LUXEMBOURG	MAND CV NT 16	L0302D178	108,064	5,757,266	SH		DFND	1	5,757,266	0	0
ARCELORMITTAL SA LUXEMBOURG	MAND CV NT 16	L0302D178	7,954	423,757	SH		DFND		423,757	0	0
ARCELORMITTAL SA LUXEMBOURG	NY REGISTRY SH	03938L104	1,290	115,200	SH	Call	DFND	1	115,200	0	0
ARCELORMITTAL SA LUXEMBOURG	NY REGISTRY SH	03938L104	143	12,800	SH	Call	DFND		12,800	0	0
ARCHER DANIELS MIDLAND CO	COM	039483102	16,863	497,300	SH	Put	DFND	1	497,300	0	0
ARCHER DANIELS MIDLAND CO	COM	039483102	2,021	59,591	SH		DFND	1	59,591	0	0
B2GOLD CORP	COM	11777Q209	305	136,300	SH		DFND	1	136,300	0	0
BANK OF AMERICA CORPORATION	COM	060505104	51,918	4,037,200	SH	Call	DFND	1	4,037,200	0	0
BANK OF AMERICA CORPORATION	COM	060505104	1,286	100,000	SH	Call	DFND		100,000	0	0
BANK OF AMERICA CORPORATION	COM	060505104	62,933	4,893,700	SH	Put	DFND	1	4,893,700	0	0
BARCLAYS BK PLC	IPATH S&P500 VIX	06740C188	27,086	1,307,849	SH		DFND	1	1,307,849	0	0
BARCLAYS BK PLC	IPATH S&P500 VIX	06740C188	22,836	1,102,674	SH		DFND		1,102,674	0	0
BARRICK GOLD CORP	COM	067901108	25,000	1,588,300	SH	Call	DFND	1	1,588,300	0	0
BARRICK GOLD CORP	COM	067901108	1,102	70,000	SH	Put	DFND	1	70,000	0	0
BARRICK GOLD CORP	COM	067901108	327	20,797	SH		DFND	1	20,797	0	0
BERKSHIRE HATHAWAY INC DEL	CL B NEW	084670702	20,280	181,200	SH	Call	DFND	1	181,200	0	0
BERRY PLASTICS GROUP INC	COM	08579W103	7,378	334,283	SH		DFND		334,283	0	0
BHP BILLITON LTD	SPONSORED ADR	088606108	4,567	79,200	SH	Call	DFND	1	79,200	0	0
BHP BILLITON LTD	SPONSORED ADR	088606108	6,008	104,200	SH	Put	DFND	1	104,200	0	0
BHP BILLITON LTD	SPONSORED ADR	088606108	5,189	90,000	SH		DFND	1	90,000	0	0
BIOSCRIP INC	COM	09069N108	5,989	362,977	SH		DFND		362,977	0	0
BRIGHT HORIZONS FAM SOL IN D	COM	109194100	7,671	221,000	SH		DFND		221,000	0	0
CABELAS INC	COM	126804301	3,238	50,000	SH	Call	DFND	1	50,000	0	0
CABELAS INC	COM	126804301	3,238	50,000	SH	Put	DFND	1	50,000	0	0
CAPITAL ONE FINL CORP	COM	14040H105	12,562	200,000	SH	Put	DFND	1	200,000	0	0
CAPITAL ONE FINL CORP	COM	14040H105	3,375	53,730	SH		DFND	1	53,730	0	0
CAREFUSION CORP	COM	14170T101	10,454	283,695	SH		DFND		283,695	0	0
CATERPILLAR INC DEL	COM	149123101	18,461	223,800	SH	Put	DFND	1	223,800	0	0
CATERPILLAR INC DEL	COM	149123101	5,974	72,415	SH		DFND	1	72,415	0	0
CBS CORP NEW	CL B	124857202	4,535	92,800	SH	Put	DFND	1	92,800	0	0
CBS CORP NEW	CL B	124857202	885	18,100	SH		DFND	1	18,100	0	0
CHEVRON CORP NEW	COM	166764100	2,000	16,900	SH	Call	DFND		16,900	0	0
CLIFFS NAT RES INC	COM	18683K101	2,007	123,500	SH	Put	DFND	1	123,500	0	0
CLIFFS NAT RES INC	COM	18683K101	106	6,500	SH	Put	DFND		6,500	0	0
CLIFFS NAT RES INC	COM	18683K101	2,006	123,472	SH		DFND	1	123,472	0	0
CLIFFS NAT RES INC	COM	18683K101	105	6,491	SH		DFND		6,491	0	0
COACH INC	COM	189754104	15,620	273,600	SH	Put	DFND	1	273,600	0	0
COACH INC	COM	189754104	3,825	67,000	SH		DFND	1	67,000	0	0
COMPANHIA SIDERURGICA NACION	SPONSORED ADR	20440W105	762	275,000	SH	Put	DFND	1	275,000	0	0
COMPANHIA SIDERURGICA NACION	SPONSORED ADR	20440W105	706	255,000	SH		DFND	1	255,000	0	0
CONSTELLATION BRANDS INC	CL A	21036P108	14,894	285,755	SH		DFND		285,755	0	0
CORNING INC	COM	219350105	11,121	781,500	SH	Put	DFND	1	781,500	0	0
CORNING INC	COM	219350105	4,963	348,795	SH		DFND	1	348,795	0	0
CREE INC	COM	225447101	9,575	150,000	SH	Call	DFND	1	150,000	0	0
CREE INC	COM	225447101	3,192	50,000	SH	Put	DFND	1	50,000	0	0
CREE INC	COM	225447101	7,723	121,000	SH		DFND	1	121,000	0	0
D R HORTON INC	COM	23331A109	3,426	161,000	SH	Put	DFND		161,000	0	0
D R HORTON INC	COM	23331A109	736	34,600	SH		DFND		34,600	0	0
DEERE & CO	COM	244199105	8,125	100,000	SH	Call	DFND	1	100,000	0	0
DEERE & CO	COM	244199105	18,988	233,700	SH	Put	DFND	1	233,700	0	0
DEERE & CO	COM	244199105	1,524	18,757	SH		DFND	1	18,757	0	0
DIGITALGLOBE INC	COM NEW	25389M877	18,864	608,336	SH		DFND		608,336	0	0
DIREXION SHS ETF TR	DLY GLMNRBU3XNEW	25459Y496	1,310	223,600	SH	Put	DFND	1	223,600	0	0
DIREXION SHS ETF TR	DLY GLMNRBU3XNEW	25459Y496	969	165,400	SH	Put	DFND		165,400	0	0
DIREXION SHS ETF TR	DLY TECH BULL 3X	25459W102	125	2,200	SH		DFND	1	2,200	0	0
DIREXION SHS ETF TR	GLD MNRS BEAR 3X	25459W235	6,108	50,000	SH	Put	DFND	1	50,000	0	0
DOMINION DIAMOND CORP	COM	257287102	9,310	658,880	SH		DFND		658,880	0	0
DOMINION RES INC VA NEW	UNIT 07/01/2016	25746U885	8,459	169,005	SH		DFND	1	169,005	0	0
DOMINION RES INC VA NEW	UNIT 07/01/2016	25746U885	445	8,895	SH		DFND		8,895	0	0
DU PONT E I DE NEMOURS & CO	COM	263534109	18,884	359,700	SH	Put	DFND	1	359,700	0	0
DU PONT E I DE NEMOURS & CO	COM	263534109	1,943	37,000	SH		DFND	1	37,000	0	0
E M C CORP MASS	NOTE 1.750%12/0	268648AM4	44,357	30,000,000	PRN		DFND	1	30,000,000	0	0
EASTMAN CHEM CO	COM	277432100	10,448	149,237	SH		DFND		149,237	0	0
EMERSON ELEC CO	COM	291011104	16,144	296,000	SH	Put	DFND	1	296,000	0	0
EMERSON ELEC CO	COM	291011104	4,789	87,813	SH		DFND	1	87,813	0	0
ENERGY TRANSFER EQUITY L P	COM UT LTD PTN	29273V100	6,090	101,800	SH	Call	DFND		101,800	0	0
ENPRO INDS INC	COM	29355X107	10,745	211,681	SH		DFND		211,681	0	0
EXELIXIS INC	NOTE 4.250% 8/1	30161QAC8	3,868	4,000,000	PRN		DFND	1	4,000,000	0	0
EXPEDITORS INTL WASH INC	COM	302130109	5,367	141,100	SH	Call	DFND	1	141,100	0	0
EXPEDITORS INTL WASH INC	COM	302130109	1,636	43,000	SH		DFND	1	43,000	0	0
EXPRESS SCRIPTS HLDG CO	COM	30219G108	13,756	222,800	SH		DFND		222,800	0	0
FEDEX CORP	COM	31428X106	14,787	150,000	SH	Put	DFND	1	150,000	0	0
FEDEX CORP	COM	31428X106	4,338	44,000	SH		DFND	1	44,000	0	0
FIRST TR ISE REVERE NAT GAS	COM	33734J102	3,199	198,930	SH		DFND	1	198,930	0	0
FIRST TR ISE REVERE NAT GAS	COM	33734J102	2,243	139,492	SH		DFND		139,492	0	0
FORD MTR CO DEL	COM PAR $0.01	345370860	15,470	1,000,000	SH	Put	DFND	1	1,000,000	0	0
FORD MTR CO DEL	COM PAR $0.01	345370860	2,000	129,299	SH		DFND	1	129,299	0	0
FREEPORT-MCMORAN COPPER & GO	COM	35671D857	1,519	55,000	SH	Call	DFND	1	55,000	0	0
FREEPORT-MCMORAN COPPER & GO	COM	35671D857	845	30,600	SH	Call	DFND		30,600	0	0
FREEPORT-MCMORAN COPPER & GO	COM	35671D857	11,044	400,000	SH	Put	DFND	1	400,000	0	0
FREEPORT-MCMORAN COPPER & GO	COM	35671D857	2,761	100,000	SH	Put	DFND		100,000	0	0
FREEPORT-MCMORAN COPPER & GO	COM	35671D857	528	19,127	SH		DFND	1	19,127	0	0
FREEPORT-MCMORAN COPPER & GO	COM	35671D857	94	3,400	SH		DFND		3,400	0	0
GENCORP INC	COM	368682100	13,636	838,637	SH		DFND		838,637	0	0
GENCORP INC	SDCV 4.062%12/3	368682AN0	7,864	4,250,000	PRN		DFND	1	4,250,000	0	0
GENCORP INC	SDCV 4.062%12/3	368682AN0	463	250,000	PRN		DFND		250,000	0	0
GENERAL ELECTRIC CO	COM	369604103	5,387	232,300	SH	Put	DFND	1	232,300	0	0
GENERAL ELECTRIC CO	COM	369604103	1,018	43,900	SH		DFND	1	43,900	0	0
GENERAL MLS INC	COM	370334104	2,703	55,700	SH	Call	DFND	1	55,700	0	0
GENERAL MLS INC	COM	370334104	97	2,000	SH		DFND	1	2,000	0	0
GENERAL MTRS CO	JR PFD CNV SRB	37045V209	2,225	46,200	SH		DFND		46,200	0	0
GOLDMAN SACHS GROUP INC	COM	38141G104	27,210	179,900	SH	Put	DFND	1	179,900	0	0
GOLDMAN SACHS GROUP INC	COM	38141G104	4,538	30,000	SH	Put	DFND		30,000	0	0
GOLDMAN SACHS GROUP INC	COM	38141G104	5,369	35,500	SH		DFND	1	35,500	0	0
GOLDMAN SACHS GROUP INC	COM	38141G104	1,376	9,100	SH		DFND		9,100	0	0
GULFPORT ENERGY CORP	COM NEW	402635304	1,884	40,000	SH	Call	DFND	1	40,000	0	0
GULFPORT ENERGY CORP	COM NEW	402635304	471	10,000	SH	Call	DFND		10,000	0	0
HALLIBURTON CO	COM	406216101	1,994	47,800	SH	Call	DFND	1	47,800	0	0
HALLIBURTON CO	COM	406216101	16,730	401,000	SH	Put	DFND	1	401,000	0	0
HALLIBURTON CO	COM	406216101	3,857	92,458	SH		DFND	1	92,458	0	0
HARLEY DAVIDSON INC	COM	412822108	16,446	300,000	SH	Put	DFND	1	300,000	0	0
HARLEY DAVIDSON INC	COM	412822108	3,004	54,800	SH		DFND	1	54,800	0	0
HDFC BANK LTD	ADR REPS 3 SHS	40415F101	1,903	52,500	SH	Put	DFND	1	52,500	0	0
HDFC BANK LTD	ADR REPS 3 SHS	40415F101	815	22,500	SH	Put	DFND		22,500	0	0
HDFC BANK LTD	ADR REPS 3 SHS	40415F101	711	19,625	SH		DFND	1	19,625	0	0
HDFC BANK LTD	ADR REPS 3 SHS	40415F101	327	9,025	SH		DFND		9,025	0	0
HEALTH CARE REIT INC	NOTE 3.000%12/0	42217KAR7	11,863	9,000,000	PRN		DFND	1	9,000,000	0	0
HESS CORP	COM	42809H107	3,325	50,000	SH	Call	DFND	1	50,000	0	0
HESS CORP	COM	42809H107	2,726	41,000	SH		DFND	1	41,000	0	0
HEWLETT PACKARD CO	COM	428236103	1,525	61,500	SH	Put	DFND	1	61,500	0	0
HEWLETT PACKARD CO	COM	428236103	1,525	61,500	SH		DFND	1	61,500	0	0
ICICI BK LTD	ADR	45104G104	3,060	80,000	SH	Put	DFND	1	80,000	0	0
ICICI BK LTD	ADR	45104G104	1,584	41,400	SH	Put	DFND		41,400	0	0
ICICI BK LTD	ADR	45104G104	987	25,800	SH		DFND	1	25,800	0	0
ICICI BK LTD	ADR	45104G104	500	13,081	SH		DFND		13,081	0	0
INTEROIL CORP	COM	460951106	695	10,000	SH	Call	DFND	1	10,000	0	0
INTEROIL CORP	COM	460951106	348	5,000	SH	Call	DFND		5,000	0	0
ISHARES INC	MSCI BRAZIL CAPP	464286400	27,851	635,000	SH	Call	DFND	1	635,000	0	0
ISHARES INC	MSCI BRAZIL CAPP	464286400	31,799	725,000	SH	Put	DFND	1	725,000	0	0
ISHARES INC	MSCI BRAZIL CAPP	464286400	877	20,000	SH		DFND	1	20,000	0	0
ISHARES SILVER TRUST	ISHARES	46428Q109	47,412	2,499,300	SH	Call	DFND	1	2,499,300	0	0
ISHARES SILVER TRUST	ISHARES	46428Q109	6,099	321,500	SH	Call	DFND		321,500	0	0
ISHARES SILVER TRUST	ISHARES	46428Q109	33,184	1,749,300	SH	Put	DFND	1	1,749,300	0	0
ISHARES SILVER TRUST	ISHARES	46428Q109	6,099	321,500	SH	Put	DFND		321,500	0	0
ISHARES SILVER TRUST	ISHARES	46428Q109	3,159	166,500	SH		DFND	1	166,500	0	0
ISHARES SILVER TRUST	ISHARES	46428Q109	1,726	91,000	SH		DFND		91,000	0	0
ISHARES TR	MSCI EMERG MKT	464287234	17,964	466,600	SH	Call	DFND	1	466,600	0	0
ISHARES TR	MSCI EMERG MKT	464287234	9,048	235,000	SH	Call	DFND		235,000	0	0
ISHARES TR	MSCI EMERG MKT	464287234	22,199	576,600	SH	Put	DFND	1	576,600	0	0
ISHARES TR	MSCI EMERG MKT	464287234	6,160	160,000	SH	Put	DFND		160,000	0	0
ISHARES TR	MSCI EMERG MKT	464287234	696	18,078	SH		DFND	1	18,078	0	0
ISHARES TR	PHLX SOX SEMICND	464287523	622	9,800	SH		DFND	1	9,800	0	0
ISHARES TR	PHLX SOX SEMICND	464287523	382	6,010	SH		DFND		6,010	0	0
ISHARES TR	RUSSELL 2000	464287655	17,974	185,300	SH	Call	DFND	1	185,300	0	0
ISHARES TR	RUSSELL 2000	464287655	86,505	891,800	SH	Put	DFND	1	891,800	0	0
ISHARES TR	RUSSELL 2000	464287655	3,638	37,500	SH	Put	DFND		37,500	0	0
ISHARES TR	RUSSELL 2000	464287655	17,678	182,244	SH		DFND	1	182,244	0	0
ISHARES TR	RUSSELL 2000	464287655	1,176	12,125	SH		DFND		12,125	0	0
ITAU UNIBANCO HLDG SA	SPON ADR REP PFD	465562106	22,263	1,723,150	SH	Put	DFND	1	1,723,150	0	0
ITAU UNIBANCO HLDG SA	SPON ADR REP PFD	465562106	13,292	1,028,777	SH		DFND	1	1,028,777	0	0
JOHNSON CTLS INC	COM	478366107	17,179	480,000	SH	Put	DFND	1	480,000	0	0
JOHNSON CTLS INC	COM	478366107	3,327	92,950	SH		DFND	1	92,950	0	0
KAR AUCTION SVCS INC	COM	48238T109	15,839	692,580	SH		DFND		692,580	0	0
KINROSS GOLD CORP	COM NO PAR	496902404	1,050	205,800	SH	Call	DFND	1	205,800	0	0
KINROSS GOLD CORP	COM NO PAR	496902404	38	7,400	SH	Put	DFND	1	7,400	0	0
KINROSS GOLD CORP	COM NO PAR	496902404	38	7,400	SH		DFND	1	7,400	0	0
KRAFT FOODS GROUP INC	COM	50076Q106	7,822	140,000	SH	Call	DFND	1	140,000	0	0
KRAFT FOODS GROUP INC	COM	50076Q106	1,123	20,101	SH		DFND	1	20,101	0	0
L-3 COMMUNICATIONS CORP	DEBT 3.000% 8/0	502413AW7	17,476	17,150,000	PRN		DFND	1	17,150,000	0	0
L-3 COMMUNICATIONS CORP	DEBT 3.000% 8/0	502413AW7	357	350,000	PRN		DFND		350,000	0	0
L-3 COMMUNICATIONS HLDGS INC	COM	502424104	12,604	147,000	SH	Put	DFND	1	147,000	0	0
L-3 COMMUNICATIONS HLDGS INC	COM	502424104	257	3,000	SH	Put	DFND		3,000	0	0
L-3 COMMUNICATIONS HLDGS INC	COM	502424104	597	6,958	SH		DFND	1	6,958	0	0
L-3 COMMUNICATIONS HLDGS INC	COM	502424104	12	142	SH		DFND		142	0	0
LAS VEGAS SANDS CORP	COM	517834107	15,932	301,000	SH	Put	DFND	1	301,000	0	0
LAS VEGAS SANDS CORP	COM	517834107	6,216	117,444	SH		DFND	1	117,444	0	0
LYONDELLBASELL INDUSTRIES N	SHS - A -	N53745100	3,313	50,000	SH	Call	DFND	1	50,000	0	0
MACQUARIE INFRASTR CO LLC	MEMBERSHIP INT	55608B105	2,004	37,500	SH		DFND		37,500	0	0
MARATHON PETE CORP	COM	56585A102	14,212	200,000	SH	Call	DFND	1	200,000	0	0
MARKET VECTORS ETF TR	GOLD MINER ETF	57060U100	81,069	3,310,300	SH	Call	DFND	1	3,310,300	0	0
MARKET VECTORS ETF TR	RUSSIA ETF	57060U506	980	38,900	SH		DFND	1	38,900	0	0
MARKET VECTORS ETF TR	RUSSIA ETF	57060U506	1,600	63,550	SH		DFND		63,550	0	0
MARKET VECTORS ETF TR	SEMICONDUCTOR	57060U233	1,074	28,500	SH		DFND	1	28,500	0	0
MARRIOTT INTL INC NEW	CL A	571903202	16,148	400,000	SH	Put	DFND	1	400,000	0	0
MARRIOTT INTL INC NEW	CL A	571903202	7,599	188,225	SH		DFND	1	188,225	0	0
MASTERCARD INC	CL A	57636Q104	12,926	22,500	SH	Put	DFND	1	22,500	0	0
MASTERCARD INC	CL A	57636Q104	1,724	3,000	SH		DFND	1	3,000	0	0
MCDONALDS CORP	COM	580135101	34,848	352,000	SH	Call	DFND	1	352,000	0	0
MERCK & CO INC NEW	COM	58933Y105	1,793	38,600	SH	Call	DFND	1	38,600	0	0
METLIFE INC	COM	59156R108	13,083	285,900	SH	Put	DFND	1	285,900	0	0
METLIFE INC	COM	59156R108	686	15,000	SH	Put	DFND		15,000	0	0
METLIFE INC	UNIT 99/99/9999	59156R116	7,329	133,762	SH		DFND	1	133,762	0	0
METLIFE INC	UNIT 99/99/9999	59156R116	10,450	190,730	SH		DFND		190,730	0	0
MGM RESORTS INTERNATIONAL	COM	552953101	2,956	200,000	SH	Put	DFND	1	200,000	0	0
MICRON TECHNOLOGY INC	DEBT 1.875% 6/0	595112AK9	11,294	8,450,000	PRN		DFND	1	8,450,000	0	0
MICRON TECHNOLOGY INC	DEBT 1.875% 6/0	595112AK9	1,337	1,000,000	PRN		DFND		1,000,000	0	0
MICRON TECHNOLOGY INC	NOTE 1.500% 8/0	595112AQ6	38,864	25,305,000	PRN		DFND	1	25,305,000	0	0
MICRON TECHNOLOGY INC	NOTE 1.500% 8/0	595112AQ6	4,139	2,695,000	PRN		DFND		2,695,000	0	0
MICRON TECHNOLOGY INC	NOTE 1.875% 8/0	595112AR4	3,889	2,500,000	PRN		DFND	1	2,500,000	0	0
MICROSOFT CORP	COM	594918104	31,954	925,000	SH	Call	DFND	1	925,000	0	0
MICROSOFT CORP	COM	594918104	18,326	530,500	SH	Put	DFND	1	530,500	0	0
MICROSOFT CORP	COM	594918104	2,521	72,969	SH		DFND	1	72,969	0	0
MONDELEZ INTL INC	CL A	609207105	3,709	130,000	SH	Call	DFND	1	130,000	0	0
MONDELEZ INTL INC	CL A	609207105	12,118	424,738	SH		DFND	1	424,738	0	0
MORGAN STANLEY	COM NEW	617446448	2,687	110,000	SH	Call	DFND	1	110,000	0	0
MORGAN STANLEY	COM NEW	617446448	15,308	626,600	SH	Put	DFND	1	626,600	0	0
MORGAN STANLEY	COM NEW	617446448	440	18,000	SH		DFND	1	18,000	0	0
MRC GLOBAL INC	COM	55345K103	7,037	254,767	SH		DFND		254,767	0	0
NOBLE CORPORATION BAAR	NAMEN -AKT	H5833N103	12,683	337,500	SH		DFND		337,500	0	0
NUCOR CORP	COM	670346105	10,869	250,900	SH	Call	DFND	1	250,900	0	0
NUCOR CORP	COM	670346105	10,830	250,000	SH	Put	DFND	1	250,000	0	0
OCEAN RIG UDW INC	SHS	Y64354205	10,248	547,154	SH		DFND		547,154	0	0
ORACLE CORP	COM	68389X105	15,355	500,000	SH	Call	DFND	1	500,000	0	0
PACCAR INC	COM	693718108	5,173	96,400	SH	Call	DFND	1	96,400	0	0
PACCAR INC	COM	693718108	1,293	24,100	SH	Call	DFND		24,100	0	0
PETROLEO BRASILEIRO SA PETRO	SPONSORED ADR	71654V408	2,115	157,700	SH	Put	DFND	1	157,700	0	0
PETROLEO BRASILEIRO SA PETRO	SPONSORED ADR	71654V408	373	27,800	SH	Put	DFND		27,800	0	0
PETROLEO BRASILEIRO SA PETRO	SPONSORED ADR	71654V408	1,914	142,700	SH		DFND	1	142,700	0	0
PETROLEO BRASILEIRO SA PETRO	SPONSORED ADR	71654V408	316	23,545	SH		DFND		23,545	0	0
PFIZER INC	COM	717081103	1,681	60,000	SH	Put	DFND	1	60,000	0	0
PFIZER INC	COM	717081103	1,681	60,000	SH		DFND	1	60,000	0	0
PIONEER NAT RES CO	COM	723787107	18,094	125,000	SH	Call	DFND	1	125,000	0	0
PIONEER NAT RES CO	COM	723787107	2,012	13,900	SH	Call	DFND		13,900	0	0
PPL CORP	UNIT 99/99/9999	69351T601	1,176	22,330	SH		DFND	1	22,330	0	0
PPL CORP	UNIT 99/99/9999	69351T601	16,331	310,077	SH		DFND		310,077	0	0
PROCTER & GAMBLE CO	COM	742718109	1,771	23,000	SH	Call	DFND	1	23,000	0	0
PROCTER & GAMBLE CO	COM	742718109	7,699	100,000	SH	Call	DFND		100,000	0	0
PROSHARES TR	ULTRASHORT EUROP	74348A301	368	15,400	SH	Put	DFND	1	15,400	0	0
PROSHARES TR	ULTRASHORT EUROP	74348A301	361	15,100	SH	Put	DFND		15,100	0	0
PROSHARES TR II	PSHS ULSSLVR NEW	74347W114	3,494	34,500	SH	Call	DFND	1	34,500	0	0
PROSHARES TR II	PSHS ULSSLVR NEW	74347W114	111,549	1,101,500	SH	Put	DFND	1	1,101,500	0	0
PROSHARES TR II	UL VIXSTFUT ETF	74347W379	122,977	1,715,400	SH	Put	DFND	1	1,715,400	0	0
PROSHARES TR II	UL VIXSTFUT ETF	74347W379	107,341	1,497,300	SH	Put	DFND		1,497,300	0	0
PROSHARES TR II	ULTRA SILVER	74347W841	666	39,200	SH	Put	DFND	1	39,200	0	0
QEP RES INC	COM	74733V100	12,376	445,500	SH		DFND		445,500	0	0
RACKSPACE HOSTING INC	COM	750086100	8,304	219,155	SH		DFND		219,155	0	0
RANGE RES CORP	COM	75281A109	5,706	73,800	SH	Put	DFND	1	73,800	0	0
RANGE RES CORP	COM	75281A109	325	4,200	SH	Put	DFND		4,200	0	0
RANGE RES CORP	COM	75281A109	1,574	20,361	SH		DFND	1	20,361	0	0
RANGE RES CORP	COM	75281A109	77	995	SH		DFND		995	0	0
RENTECH INC	COM	760112102	3,760	1,790,326	SH		DFND	1	1,790,326	0	0
RENTECH INC	COM	760112102	9,279	4,418,548	SH		DFND		4,418,548	0	0
RESOLUTE FST PRODS INC	COM	76117W109	3,293	250,000	SH	Call	DFND	1	250,000	0	0
RIO TINTO PLC	SPONSORED ADR	767204100	8,216	200,000	SH	Put	DFND	1	200,000	0	0
RIO TINTO PLC	SPONSORED ADR	767204100	3,734	90,900	SH		DFND	1	90,900	0	0
RYMAN HOSPITALITY PPTYS INC	COM	78377T107	235	6,024	SH		DFND		6,024	0	0
SCHLUMBERGER LTD	COM	806857108	57,407	801,100	SH	Put	DFND	1	801,100	0	0
SCHLUMBERGER LTD	COM	806857108	12,459	173,863	SH		DFND	1	173,863	0	0
SELECT INCOME REIT	COM SH BEN INT	81618T100	7,010	250,000	SH		DFND		250,000	0	0
SELECT SECTOR SPDR TR	SBI CONS STPLS	81369Y308	4,372	110,200	SH		DFND	1	110,200	0	0
SELECT SECTOR SPDR TR	SBI INT-ENERGY	81369Y506	33,129	423,100	SH	Put	DFND	1	423,100	0	0
SELECT SECTOR SPDR TR	SBI INT-ENERGY	81369Y506	10,043	128,267	SH		DFND	1	128,267	0	0
SELECT SECTOR SPDR TR	SBI INT-ENERGY	81369Y506	211	2,700	SH		DFND		2,700	0	0
SELECT SECTOR SPDR TR	SBI INT-FINL	81369Y605	12,714	653,850	SH		DFND	1	653,850	0	0
SELECT SECTOR SPDR TR	TECHNOLOGY	81369Y803	5,223	170,779	SH		DFND		170,779	0	0
SINCLAIR BROADCAST GROUP INC	CL A	829226109	4,406	150,000	SH		DFND		150,000	0	0
SPDR GOLD TRUST	GOLD SHS	78463V107	16,401	137,700	SH	Call	DFND	1	137,700	0	0
SPDR GOLD TRUST	GOLD SHS	78463V107	2,894	24,300	SH	Call	DFND		24,300	0	0
SPDR GOLD TRUST	GOLD SHS	78463V107	16,401	137,700	SH	Put	DFND	1	137,700	0	0
SPDR GOLD TRUST	GOLD SHS	78463V107	2,894	24,300	SH	Put	DFND		24,300	0	0
SPDR GOLD TRUST	GOLD SHS	78463V107	648	5,440	SH		DFND	1	5,440	0	0
SPDR GOLD TRUST	GOLD SHS	78463V107	114	960	SH		DFND		960	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	60,960	380,000	SH	Call	DFND	1	380,000	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	165,233	1,030,000	SH	Put	DFND	1	1,030,000	0	0
SPDR S&P 500 ETF TR	TR UNIT	78462F103	38,982	243,000	SH	Put	DFND		243,000	0	0
SPDR S&P MIDCAP 400 ETF TR	UTSER1 S&PDCRP	78467Y107	53,996	257,000	SH	Put	DFND	1	257,000	0	0
SPDR SERIES TRUST	S&P HOMEBUILD	78464A888	29,420	1,000,000	SH	Put	DFND	1	1,000,000	0	0
SPDR SERIES TRUST	S&P HOMEBUILD	78464A888	10,375	352,653	SH		DFND	1	352,653	0	0
SPDR SERIES TRUST	S&P METALS MNG	78464A755	13,264	400,000	SH	Put	DFND	1	400,000	0	0
SPDR SERIES TRUST	S&P METALS MNG	78464A755	7,932	239,200	SH		DFND	1	239,200	0	0
STARBUCKS CORP	COM	855244109	17,688	270,000	SH	Put	DFND	1	270,000	0	0
STARBUCKS CORP	COM	855244109	1,860	28,400	SH		DFND	1	28,400	0	0
STARZ	COM SER A	85571Q102	3,582	162,088	SH		DFND		162,088	0	0
STEALTHGAS INC	SHS	Y81669106	6,610	600,873	SH		DFND		600,873	0	0
SUNCOR ENERGY INC NEW	COM	867224107	1,475	50,000	SH	Call	DFND	1	50,000	0	0
SUSSER HLDGS CORP	COM	869233106	13,487	281,677	SH		DFND		281,677	0	0
TECK RESOURCES LTD	CL B	878742204	1,979	92,600	SH	Put	DFND	1	92,600	0	0
TECK RESOURCES LTD	CL B	878742204	1,342	62,800	SH		DFND	1	62,800	0	0
TIBCO SOFTWARE INC	COM	88632Q103	9,285	433,760	SH		DFND		433,760	0	0
TOTAL S A	SPONSORED ADR	89151E109	26,152	537,000	SH	Put	DFND	1	537,000	0	0
TOTAL S A	SPONSORED ADR	89151E109	3,200	65,700	SH	Put	DFND		65,700	0	0
TOTAL S A	SPONSORED ADR	89151E109	22	447	SH		DFND	1	447	0	0
TYSON FOODS INC	NOTE 3.250%10/1	902494AP8	42,169	27,500,000	PRN		DFND	1	27,500,000	0	0
TYSON FOODS INC	NOTE 3.250%10/1	902494AP8	3,834	2,500,000	PRN		DFND		2,500,000	0	0
U S AIRWAYS GROUP INC	COM	90341W108	35,296	2,149,600	SH	Call	DFND	1	2,149,600	0	0
U S AIRWAYS GROUP INC	COM	90341W108	821	50,000	SH	Call	DFND		50,000	0	0
U S AIRWAYS GROUP INC	COM	90341W108	7,200	438,500	SH	Put	DFND	1	438,500	0	0
U S AIRWAYS GROUP INC	COM	90341W108	18,940	1,153,461	SH		DFND	1	1,153,461	0	0
U S AIRWAYS GROUP INC	COM	90341W108	648	39,450	SH		DFND		39,450	0	0
UNISYS CORP	COM NEW	909214306	1,435	65,000	SH	Call	DFND		65,000	0	0
UNISYS CORP	PFD SER A 6.25%	909214405	2	29	SH		DFND		29	0	0
UNITED PARCEL SERVICE INC	CL B	911312106	41,095	475,200	SH	Call	DFND	1	475,200	0	0
UNITED PARCEL SERVICE INC	CL B	911312106	4,653	53,800	SH	Call	DFND		53,800	0	0
UNITED STATES NATL GAS FUND	UNIT PAR $0.001	912318201	1,023	54,000	SH	Call	DFND	1	54,000	0	0
UNITED STATES NATL GAS FUND	UNIT PAR $0.001	912318201	1,446	76,300	SH	Call	DFND		76,300	0	0
UNITED STATES NATL GAS FUND	UNIT PAR $0.001	912318201	19	1,000	SH	Put	DFND	1	1,000	0	0
UNITED STATES NATL GAS FUND	UNIT PAR $0.001	912318201	1,177	62,100	SH	Put	DFND		62,100	0	0
UNIVERSAL AMERN CORP NEW	COM	91338E101	3,257	366,375	SH		DFND		366,375	0	0
VALEANT PHARMACEUTICALS INTL	COM	91911K102	8,909	103,500	SH		DFND		103,500	0	0
VERISIGN INC	COM	92343E102	8,002	179,166	SH		DFND		179,166	0	0
VISA INC	COM CL A	92826C839	5,483	30,000	SH	Put	DFND		30,000	0	0
VISA INC	COM CL A	92826C839	895	4,900	SH		DFND		4,900	0	0
VISTEON CORP	COM NEW	92839U206	13,051	206,757	SH		DFND		206,757	0	0
WALGREEN CO	COM	931422109	415	9,400	SH	Call	DFND		9,400	0	0
WALGREEN CO	COM	931422109	2,100	47,500	SH	Put	DFND		47,500	0	0
WELLS FARGO & CO NEW	COM	949746101	16,508	400,000	SH	Put	DFND	1	400,000	0	0
WELLS FARGO & CO NEW	COM	949746101	1,671	40,500	SH		DFND	1	40,500	0	0
WEYERHAEUSER CO	COM	962166104	2,849	100,000	SH		DFND		100,000	0	0
WORKDAY INC	CL A	98138H101	12,818	200,000	SH	Put	DFND	1	200,000	0	0
ZIONS BANCORPORATION	*W EXP 05/22/202	989701115	5,662	967,869	SH		DFND	1	967,869	0	0
ZIONS BANCORPORATION	*W EXP 05/22/202	989701115	155	26,500	SH		DFND		26,500	0	0
ZOETIS INC	CL A	98978V103	16,990	550,000	SH		DFND	1	550,000	0	0