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

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

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
1ST CENTURY BANCSHARES INC COM 31943X102 160 23,202 SH   OTR 1 2 0 23,202 0
ABBOTT LABS COM 002824100 203 19,600 SH Call OTR 1 2 0 19,600 0
ABILITY INC SHS G8789K108 198 20,000 SH   OTR 1 2 0 20,000 0
ACE LTD SHS H0023R105 116 996 SH   OTR 1 2 0 996 0
ACE LTD SHS H0023R105 48 13,000 SH Call OTR 1 2 0 13,000 0
ALLIED WRLD ASSUR COM HLDG A SHS H01531104 279 7,500 SH   OTR 1 2 0 7,500 0
ALLSTATE CORP COM 020002101 472 7,600 SH   OTR 1 2 0 7,600 0
ALLSTATE CORP COM 020002101 2 3,000 SH Call OTR 1 2 0 3,000 0
AMERICAN INTL GROUP INC COM NEW 026874784 410 6,620 SH   OTR 1 2 0 6,620 0
AMERICAN INTL GROUP INC COM NEW 026874784 639 53,000 SH Call OTR 1 2 0 53,000 0
AMERIS BANCORP COM 03076K108 245 7,209 SH   OTR 1 2 0 7,209 0
ARBOR RLTY TR INC COM 038923108 1,575 220,253 SH   OTR 1 2 0 220,253 0
ARGO GROUP INTL HLDGS LTD COM G0464B107 245 4,092 SH   OTR 1 2 0 4,092 0
AT&T INC COM 00206R102 595 17,295 SH   OTR 1 2 0 17,295 0
AVENUE FINL HLDGS INC COM 05358K102 1,078 75,000 SH   OTR 1 2 0 75,000 0
BANK AMER CORP *W EXP 01/16/201 060505146 514 88,241 SH   OTR 1 2 0 88,241 0
BANK AMER CORP COM 060505104 1,172 241,100 SH Call OTR 1 2 0 241,100 0
BANK NEW YORK MELLON CORP COM 064058100 336 45,000 SH Call OTR 1 2 0 45,000 0
BANK NEW YORK MELLON CORP COM 064058100 82 2,000 SH   OTR 1 2 0 2,000 0
BAY BANCORP INC COM 07203T106 120 23,698 SH   OTR 1 2 0 23,698 0
BB&T CORP COM 054937107 379 71,600 SH Call OTR 1 2 0 71,600 0
BB&T CORP COM 054937107 2,748 72,669 SH   OTR 1 2 0 72,669 0
BBCN BANCORP INC COM 073295107 344 19,981 SH   OTR 1 2 0 19,981 0
BECTON DICKINSON & CO COM 075887109 231 1,500 SH   OTR 1 2 0 1,500 0
BENEFICIAL BANCORP INC COM 08171T102 827 62,072 SH   OTR 1 2 0 62,072 0
BIOSCRIP INC COM 09069N108 26 14,802 SH   OTR 1 2 0 14,802 0
BRISTOL MYERS SQUIBB CO COM 110122108 303 20,000 SH Call OTR 1 2 0 20,000 0
BRISTOL MYERS SQUIBB CO COM 110122108 192 2,788 SH   OTR 1 2 0 2,788 0
BROOKLINE BANCORP INC DEL COM 11373M107 327 28,405 SH   OTR 1 2 0 28,405 0
CAPITAL ONE FINL CORP *W EXP 11/14/201 14040H139 3,621 115,506 SH   OTR 1 2 0 115,506 0
CAPITAL ONE FINL CORP COM 14040H105 1,647 22,810 SH   OTR 1 2 0 22,810 0
CAPITAL ONE FINL CORP COM 14040H105 8 5,000 SH Call OTR 1 2 0 5,000 0
CERUS CORP COM 157085101 1,966 310,944 SH   OTR 1 2 0 310,944 0
CIT GROUP INC COM NEW 125581801 570 14,349 SH   OTR 1 2 0 14,349 0
CIT GROUP INC COM NEW 125581801 60 12,000 SH Call OTR 1 2 0 12,000 0
CITIGROUP INC COM NEW 172967424 1,181 22,823 SH   OTR 1 2 0 22,823 0
CITIGROUP INC COM NEW 172967424 412 36,800 SH Call OTR 1 2 0 36,800 0
CLIFTON BANCORP INC COM 186873105 196 13,697 SH   OTR 1 2 0 13,697 0
CLOROX CO DEL COM 189054109 200 8,600 SH Call OTR 1 2 0 8,600 0
CNO FINL GROUP INC COM 12621E103 3,886 203,567 SH   OTR 1 2 0 203,567 0
COMERICA INC *W EXP 11/14/201 200340115 1,464 104,462 SH   OTR 1 2 0 104,462 0
COMERICA INC COM 200340107 364 8,702 SH   OTR 1 2 0 8,702 0
CONNECTONE BANCORP INC NEW COM 20786W107 551 29,500 SH   OTR 1 2 0 29,500 0
COWEN GROUP INC NEW CL A 223622101 885 231,005 SH   OTR 1 2 0 231,005 0
CROCS INC COM 227046109 261 25,492 SH   OTR 1 2 0 25,492 0
DISCOVER FINL SVCS COM 254709108 348 6,495 SH   OTR 1 2 0 6,495 0
E M C CORP MASS COM 268648102 43 23,300 SH Call OTR 1 2 0 23,300 0
EASTERN VA BANKSHARES INC COM 277196101 115 16,000 SH   OTR 1 2 0 16,000 0
ENDURANCE SPECIALTY HLDGS LT SHS G30397106 422 6,600 SH   OTR 1 2 0 6,600 0
ENTERPRISE FINL SVCS CORP COM 293712105 1,174 41,420 SH   OTR 1 2 0 41,420 0
ESSA BANCORP INC COM 29667D104 1,350 98,688 SH   OTR 1 2 0 98,688 0
FACEBOOK INC CL A 30303M102 576 5,500 SH   OTR 1 2 0 5,500 0
FIFTH THIRD BANCORP COM 316773100 2,023 100,659 SH   OTR 1 2 0 100,659 0
FIFTH THIRD BANCORP COM 316773100 129 74,000 SH Call OTR 1 2 0 74,000 0
FIRST CLOVER LEAF FIN CORP COM 31969M105 161 17,352 SH   OTR 1 2 0 17,352 0
FIRST CMNTY CORP S C COM 319835104 201 13,500 SH   OTR 1 2 0 13,500 0
FIRST DEFIANCE FINL CORP COM 32006W106 643 17,016 SH   OTR 1 2 0 17,016 0
FIRST GTY BANCSHARES INC COM 32043P106 334 17,836 SH   OTR 1 2 0 17,836 0
FIRST NBC BK HLDG CO COM 32115D106 206 5,516 SH   OTR 1 2 0 5,516 0
FIRST NIAGARA FINL GP INC COM 33582V108 130 12,000 SH   OTR 1 2 0 12,000 0
FLAGSTAR BANCORP INC COM PAR .001 337930705 231 10,000 SH   OTR 1 2 0 10,000 0
FRANKLIN FINL NETWORK INC COM 35352P104 940 29,973 SH   OTR 1 2 0 29,973 0
GENERAL ELECTRIC CO COM 369604103 539 71,000 SH Call OTR 1 2 0 71,000 0
GENIE ENERGY LTD CL B 372284208 305 27,426 SH   OTR 1 2 0 27,426 0
GLAXOSMITHKLINE PLC SPONSORED ADR 37733W105 248 17,400 SH Call OTR 1 2 0 17,400 0
GOLDMAN SACHS BDC INC SHS 38147U107 1,037 54,578 SH   OTR 1 2 0 54,578 0
GUARANTY FED BANCSHARES INC COM 40108P101 229 15,000 SH   OTR 1 2 0 15,000 0
HAMPTON ROADS BANKSHARES INC COM NEW 409321502 911 494,999 SH   OTR 1 2 0 494,999 0
HANCOCK HLDG CO COM 410120109 1,407 55,912 SH   OTR 1 2 0 55,912 0
HANMI FINL CORP COM NEW 410495204 456 19,214 SH   OTR 1 2 0 19,214 0
HANOVER INS GROUP INC COM 410867105 1,060 13,026 SH   OTR 1 2 0 13,026 0
HARTFORD FINL SVCS GROUP INC *W EXP 06/26/201 416515120 1,849 51,255 SH   OTR 1 2 0 51,255 0
HOLOGIC INC FRNT 2.000%12/1 436440AB7 101 11,000 SH Call OTR 1 2 0 11,000 0
HUNTINGTON BANCSHARES INC COM 446150104 601 54,313 SH   OTR 1 2 0 54,313 0
IMPAC MTG HLDGS INC COM NEW 45254P508 2,001 111,172 SH   OTR 1 2 0 111,172 0
INVENSENSE INC COM 46123D205 59 26,500 SH Call OTR 1 2 0 26,500 0
INVESTORS BANCORP INC NEW COM 46146L101 2,080 167,217 SH   OTR 1 2 0 167,217 0
JPMORGAN CHASE & CO *W EXP 10/28/201 46634E114 3,279 138,406 SH   OTR 1 2 0 138,406 0
JPMORGAN CHASE & CO COM 46625H100 1,448 21,934 SH   OTR 1 2 0 21,934 0
JPMORGAN CHASE & CO COM 46625H100 1,463 107,900 SH Call OTR 1 2 0 107,900 0
KEARNY FINL CORP MD COM 48716P108 342 27,036 SH   OTR 1 2 0 27,036 0
KEYCORP NEW COM 493267108 1,817 137,760 SH   OTR 1 2 0 137,760 0
KEYCORP NEW COM 493267108 191 54,500 SH Call OTR 1 2 0 54,500 0
KKR & CO L P DEL COM UNITS 48248M102 359 23,000 SH   OTR 1 2 0 23,000 0
LEADING BRANDS INC COM NEW 52170U207 552 198,394 SH   OTR 1 2 0 198,394 0
LEGG MASON INC COM 524901105 321 8,177 SH   OTR 1 2 0 8,177 0
LENNAR CORP CL A 526057104 274 5,597 SH   OTR 1 2 0 5,597 0
LENNAR CORP CL A 526057104 50 5,000 SH Call OTR 1 2 0 5,000 0
LINCOLN NATL CORP IND COM 534187109 332 6,600 SH   OTR 1 2 0 6,600 0
M & T BK CORP *W EXP 12/23/201 55261F112 4,648 95,391 SH   OTR 1 2 0 95,391 0
M & T BK CORP COM 55261F104 1,248 10,300 SH   OTR 1 2 0 10,300 0
MAIDEN HOLDINGS LTD SHS G5753U112 410 27,490 SH   OTR 1 2 0 27,490 0
MB FINANCIAL INC NEW COM 55264U108 5,730 177,028 SH   OTR 1 2 0 177,028 0
MERCHANTS BANCSHARES COM 588448100 263 8,360 SH   OTR 1 2 0 8,360 0
MERIDIAN BANCORP INC MD COM 58958U103 2,977 211,079 SH   OTR 1 2 0 211,079 0
METLIFE INC COM 59156R108 738 15,310 SH   OTR 1 2 0 15,310 0
METLIFE INC COM 59156R108 236 44,500 SH Call OTR 1 2 0 44,500 0
MIDSOUTH BANCORP INC COM 598039105 759 83,601 SH   OTR 1 2 0 83,601 0
MONARCH FINANCIAL HOLDINGS I COM 60907Q100 582 32,362 SH   OTR 1 2 0 32,362 0
MONROE CAP CORP COM 610335101 459 35,080 SH   OTR 1 2 0 35,080 0
MORGAN STANLEY COM NEW 617446448 822 25,845 SH   OTR 1 2 0 25,845 0
MORGAN STANLEY COM NEW 617446448 300 46,200 SH Call OTR 1 2 0 46,200 0
NBT BANCORP INC COM 628778102 1,505 53,997 SH   OTR 1 2 0 53,997 0
NEWBRIDGE BANCORP CL A NO PAR 65080T102 183 15,000 SH   OTR 1 2 0 15,000 0
NORTHWEST BANCSHARES INC MD COM 667340103 794 59,193 SH   OTR 1 2 0 59,193 0
NXP SEMICONDUCTORS N V COM N6596X109 221 10,500 SH Call OTR 1 2 0 10,500 0
OLD SECOND BANCORP INC ILL COM 680277100 314 40,000 SH   OTR 1 2 0 40,000 0
ONE LIBERTY PPTYS INC COM 682406103 718 33,448 SH   OTR 1 2 0 33,448 0
ORITANI FINL CORP DEL COM 68633D103 178 10,778 SH   OTR 1 2 0 10,778 0
PFIZER INC COM 717081103 194 6,000 SH   OTR 1 2 0 6,000 0
PFIZER INC COM 717081103 28 10,000 SH Call OTR 1 2 0 10,000 0
PNC FINL SVCS GROUP INC *W EXP 12/31/201 693475121 424 14,760 SH   OTR 1 2 0 14,760 0
PNC FINL SVCS GROUP INC COM 693475105 3,863 40,526 SH   OTR 1 2 0 40,526 0
PNC FINL SVCS GROUP INC COM 693475105 136 9,000 SH Call OTR 1 2 0 9,000 0
POPULAR INC COM NEW 733174700 311 10,982 SH   OTR 1 2 0 10,982 0
PRUDENTIAL FINL INC COM 744320102 191 19,300 SH Call OTR 1 2 0 19,300 0
PUBLIC SVC ENTERPRISE GROUP COM 744573106 1,261 32,600 SH   OTR 1 2 0 32,600 0
RADIUS HEALTH INC COM NEW 750469207 461 7,500 SH   OTR 1 2 0 7,500 0
REGIONS FINL CORP NEW COM 7591EP100 1,202 125,159 SH   OTR 1 2 0 125,159 0
REGIONS FINL CORP NEW COM 7591EP100 109 109,100 SH Call OTR 1 2 0 109,100 0
RITE AID CORP COM 767754104 12,401 1,581,787 SH   OTR 1 2 0 1,581,787 0
RITE AID CORP COM 767754104 39 15,000 SH Call OTR 1 2 0 15,000 0
ROSS STORES INC COM 778296103 101 10,000 SH Call OTR 1 2 0 10,000 0
SEACOAST BKG CORP FLA COM NEW 811707801 2,076 138,564 SH   OTR 1 2 0 138,564 0
SEAWORLD ENTMT INC COM 81282V100 197 10,000 SH   OTR 1 2 0 10,000 0
SEAWORLD ENTMT INC COM 81282V100 26 12,000 SH Call OTR 1 2 0 12,000 0
SEVERN BANCORP ANNAPOLIS MD COM 81811M100 112 19,558 SH   OTR 1 2 0 19,558 0
SKYWORKS SOLUTIONS INC COM 83088M102 407 14,500 SH Call OTR 1 2 0 14,500 0
SOUTH ST CORP COM 840441109 2,435 33,836 SH   OTR 1 2 0 33,836 0
SOUTHCOAST FINANCIAL CORP COM 84129R100 564 36,000 SH   OTR 1 2 0 36,000 0
SOUTHERN NATL BANCORP OF VA COM 843395104 5,711 437,294 SH   OTR 1 2 0 437,294 0
STATE BK FINL CORP COM 856190103 699 33,236 SH   OTR 1 2 0 33,236 0
STATE STR CORP COM 857477103 404 6,095 SH   OTR 1 2 0 6,095 0
STERLING BANCORP DEL COM 85917A100 2,712 167,191 SH   OTR 1 2 0 167,191 0
SUNTRUST BKS INC *W EXP 12/31/201 867914129 573 51,974 SH   OTR 1 2 0 51,974 0
SUNTRUST BKS INC COM 867914103 216 22,000 SH Call OTR 1 2 0 22,000 0
SUNTRUST BKS INC COM 867914103 1,312 30,620 SH   OTR 1 2 0 30,620 0
SYNOVUS FINL CORP COM NEW 87161C501 2,651 81,877 SH   OTR 1 2 0 81,877 0
TRAVELERS COMPANIES INC COM 89417E109 135 1,200 SH   OTR 1 2 0 1,200 0
TRAVELERS COMPANIES INC COM 89417E109 280 11,600 SH Call OTR 1 2 0 11,600 0
TRIANGLE CAP CORP COM 895848109 612 32,000 SH   OTR 1 2 0 32,000 0
UNITED CMNTY BANCORP IND COM 90984R101 824 55,000 SH   OTR 1 2 0 55,000 0
UNITED FINL BANCORP INC NEW COM 910304104 630 48,926 SH   OTR 1 2 0 48,926 0
UNITED PARCEL SERVICE INC CL B 911312106 192 2,000 SH   OTR 1 2 0 2,000 0
UNITED PARCEL SERVICE INC CL B 911312106 11 4,000 SH Call OTR 1 2 0 4,000 0
US BANCORP DEL COM NEW 902973304 1,037 24,300 SH   OTR 1 2 0 24,300 0
WATERSTONE FINL INC MD COM 94188P101 262 18,561 SH   OTR 1 2 0 18,561 0
WELLS FARGO & CO NEW *W EXP 10/28/201 949746119 1,250 61,000 SH   OTR 1 2 0 61,000 0
WELLS FARGO & CO NEW COM 949746101 679 75,700 SH Call OTR 1 2 0 75,700 0
WELLS FARGO & CO NEW COM 949746101 273 5,019 SH   OTR 1 2 0 5,019 0
WESTFIELD FINANCIAL INC NEW COM 96008P104 448 53,333 SH   OTR 1 2 0 53,333 0
XL GROUP PLC SHS G98290102 470 12,000 SH   OTR 1 2 0 12,000 0
YOU ON DEMAND HLDGS INC COM NEW 98741R207 47 25,000 SH   OTR 1 2 0 25,000 0
ZIONS BANCORPORATION COM 989701107 179 43,500 SH Call OTR 1 2 0 43,500 0
ZOETIS INC CL A 98978V103 101 2,100 SH   OTR 1 2 0 2,100 0
ZOETIS INC CL A 98978V103 189 14,700 SH Call OTR 1 2 0 14,700 0