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
ABBOTT LABS COM 002824100 180 19,600 SH Call OTR 1 2 0 19,600 0
ACE LTD SHS H0023R105 111 996 SH   OTR 1 2 0 996 0
ACE LTD SHS H0023R105 117 18,700 SH Call OTR 1 2 0 18,700 0
ALCOA INC COM 013817101 36 10,000 SH Call OTR 1 2 0 10,000 0
ALLIED WRLD ASSUR COM HLDG A SHS H01531104 303 7,500 SH   OTR 1 2 0 7,500 0
ALLSTATE CORP COM 020002101 541 7,600 SH   OTR 1 2 0 7,600 0
ALLSTATE CORP COM 020002101 250 22,100 SH Call OTR 1 2 0 22,100 0
AMERICAN INTL GROUP INC COM NEW 026874784 412 7,520 SH   OTR 1 2 0 7,520 0
AMERICAN INTL GROUP INC COM NEW 026874784 263 33,500 SH Call OTR 1 2 0 33,500 0
ARGO GROUP INTL HLDGS LTD COM G0464B107 205 4,092 SH   OTR 1 2 0 4,092 0
AT&T INC COM 00206R102 238 7,295 SH   OTR 1 2 0 7,295 0
BANK AMER CORP *W EXP 01/16/201 060505146 518 88,241 SH   OTR 1 2 0 88,241 0
BANK AMER CORP COM 060505104 2,691 472,466 SH   OTR 1 2 0 472,466 0
BANK AMER CORP COM 060505104 952 257,400 SH Call OTR 1 2 0 257,400 0
BAY BANCORP INC COM 07203T106 123 23,698 SH   OTR 1 2 0 23,698 0
BB&T CORP COM 054937107 440 90,600 SH Call OTR 1 2 0 90,600 0
BB&T CORP COM 054937107 2,671 68,490 SH   OTR 1 2 0 68,490 0
BBCN BANCORP INC COM 073295107 289 19,981 SH   OTR 1 2 0 19,981 0
BECTON DICKINSON & CO COM 075887109 287 2,000 SH   OTR 1 2 0 2,000 0
BENEFICIAL BANCORP INC COM 08171T102 532 47,072 SH   OTR 1 2 0 47,072 0
BIOSCRIP INC COM 09069N108 66 14,802 SH   OTR 1 2 0 14,802 0
BRISTOL MYERS SQUIBB CO COM 110122108 180 2,794 SH   OTR 1 2 0 2,794 0
BRISTOL MYERS SQUIBB CO COM 110122108 299 20,000 SH Call OTR 1 2 0 20,000 0
BROOKLINE BANCORP INC DEL COM 11373M107 285 28,405 SH   OTR 1 2 0 28,405 0
CAPITAL ONE FINL CORP *W EXP 11/14/201 14040H139 3,806 102,756 SH   OTR 1 2 0 102,756 0
CAPITAL ONE FINL CORP COM 14040H105 1,798 22,810 SH   OTR 1 2 0 22,810 0
CAPITAL ONE FINL CORP COM 14040H105 55 5,000 SH Call OTR 1 2 0 5,000 0
CAROLINA FINL CORP NEW COM 143873107 156 11,754 SH   OTR 1 2 0 11,754 0
CERUS CORP COM 157085101 786 188,552 SH   OTR 1 2 0 188,552 0
CIT GROUP INC COM NEW 125581801 618 13,700 SH   OTR 1 2 0 13,700 0
CIT GROUP INC COM NEW 125581801 68 12,000 SH Call OTR 1 2 0 12,000 0
CITIGROUP INC COM NEW 172967424 1,176 22,823 SH   OTR 1 2 0 22,823 0
CITIGROUP INC COM NEW 172967424 146 22,800 SH Call OTR 1 2 0 22,800 0
CLIFTON BANCORP INC COM 186873105 193 13,702 SH   OTR 1 2 0 13,702 0
CNO FINL GROUP INC COM 12621E103 5,555 322,575 SH   OTR 1 2 0 322,575 0
COMERICA INC *W EXP 11/14/201 200340115 1,662 102,542 SH   OTR 1 2 0 102,542 0
COMERICA INC COM 200340107 305 6,747 SH   OTR 1 2 0 6,747 0
CONNECTONE BANCORP INC NEW COM 20786W107 691 35,500 SH   OTR 1 2 0 35,500 0
CROCS INC COM 227046109 301 25,492 SH   OTR 1 2 0 25,492 0
DISCOVER FINL SVCS COM 254709108 366 6,500 SH   OTR 1 2 0 6,500 0
DISCOVER FINL SVCS COM 254709108 180 26,400 SH Call OTR 1 2 0 26,400 0
E M C CORP MASS COM 268648102 47 23,300 SH Call OTR 1 2 0 23,300 0
EASTERN VA BANKSHARES INC COM 277196101 100 16,000 SH   OTR 1 2 0 16,000 0
ENDURANCE SPECIALTY HLDGS LT SHS G30397106 404 6,600 SH   OTR 1 2 0 6,600 0
ENTERPRISE FINL SVCS CORP COM 293712105 855 41,420 SH   OTR 1 2 0 41,420 0
ESSA BANCORP INC COM 29667D104 1,265 98,688 SH   OTR 1 2 0 98,688 0
FACEBOOK INC CL A 30303M102 452 5,500 SH   OTR 1 2 0 5,500 0
FIFTH THIRD BANCORP COM 316773100 1,897 100,659 SH   OTR 1 2 0 100,659 0
FIFTH THIRD BANCORP COM 316773100 49 74,000 SH Call OTR 1 2 0 74,000 0
FIRST CLOVER LEAF FIN CORP COM 31969M105 152 17,352 SH   OTR 1 2 0 17,352 0
FIRST DEFIANCE FINL CORP COM 32006W106 571 17,406 SH   OTR 1 2 0 17,406 0
FIRST SEC GROUP INC COM NEW 336312202 492 205,179 SH   OTR 1 2 0 205,179 0
GENERAL ELECTRIC CO COM 369604103 176 71,000 SH Call OTR 1 2 0 71,000 0
GENIE ENERGY LTD CL B 372284208 218 27,426 SH   OTR 1 2 0 27,426 0
GENWORTH FINL INC COM CL A 37247D106 6 25,000 SH Call OTR 1 2 0 25,000 0
HAMPTON ROADS BANKSHARES INC COM NEW 409321502 936 494,999 SH   OTR 1 2 0 494,999 0
HANCOCK HLDG CO COM 410120109 1,669 55,912 SH   OTR 1 2 0 55,912 0
HANMI FINL CORP COM NEW 410495204 406 19,214 SH   OTR 1 2 0 19,214 0
HANOVER INS GROUP INC COM 410867105 945 13,026 SH   OTR 1 2 0 13,026 0
HARTFORD FINL SVCS GROUP INC *W EXP 06/26/201 416515120 1,774 52,155 SH   OTR 1 2 0 52,155 0
HERTZ GLOBAL HOLDINGS INC COM 42805T105 35 11,000 SH Call OTR 1 2 0 11,000 0
HOLOGIC INC FRNT 2.000%12/1 436440AB7 106 13,600 SH Call OTR 1 2 0 13,600 0
HUDSON CITY BANCORP COM 443683107 583 55,624 SH   OTR 1 2 0 55,624 0
HUDSON VALLEY HOLDING CORP COM 444172100 1,194 46,732 SH   OTR 1 2 0 46,732 0
HUNTINGTON BANCSHARES INC COM 446150104 711 64,330 SH   OTR 1 2 0 64,330 0
HUNTINGTON BANCSHARES INC COM 446150104 35 15,000 SH Call OTR 1 2 0 15,000 0
IMPAC MTG HLDGS INC COM NEW 45254P508 1,100 88,375 SH   OTR 1 2 0 88,375 0
INVENSENSE INC COM 46123D205 35 25,000 SH Call OTR 1 2 0 25,000 0
INVESTORS BANCORP INC NEW COM 46146L101 1,960 167,217 SH   OTR 1 2 0 167,217 0
JPMORGAN CHASE & CO *W EXP 10/28/201 46634E114 2,908 132,139 SH   OTR 1 2 0 132,139 0
JPMORGAN CHASE & CO COM 46625H100 715 107,900 SH Call OTR 1 2 0 107,900 0
JPMORGAN CHASE & CO COM 46625H100 1,365 22,534 SH   OTR 1 2 0 22,534 0
KEARNY FINL CORP COM 487169104 149 10,946 SH   OTR 1 2 0 10,946 0
KEYCORP NEW COM 493267108 2,021 142,760 SH   OTR 1 2 0 142,760 0
KEYCORP NEW COM 493267108 158 54,500 SH Call OTR 1 2 0 54,500 0
LEADING BRANDS INC COM NEW 52170U207 586 193,394 SH   OTR 1 2 0 193,394 0
LEGG MASON INC COM 524901105 453 8,200 SH   OTR 1 2 0 8,200 0
LENNAR CORP CL A 526057104 290 5,600 SH   OTR 1 2 0 5,600 0
LINCOLN NATL CORP IND COM 534187109 379 6,600 SH   OTR 1 2 0 6,600 0
M & T BK CORP *W EXP 12/23/201 55261F112 4,549 86,645 SH   OTR 1 2 0 86,645 0
MADISON SQUARE GARDEN CO CL A 55826P100 310 3,667 SH   OTR 1 2 0 3,667 0
MAGNUM HUNTER RES CORP DEL COM 55973B102 27 10,000 SH   OTR 1 2 0 10,000 0
MAIDEN HOLDINGS LTD SHS G5753U112 408 27,500 SH   OTR 1 2 0 27,500 0
MB FINANCIAL INC NEW COM 55264U108 7,610 243,050 SH   OTR 1 2 0 243,050 0
MERCHANTS BANCSHARES COM 588448100 244 8,360 SH   OTR 1 2 0 8,360 0
MERIDIAN BANCORP INC MD COM 58958U103 2,403 182,413 SH   OTR 1 2 0 182,413 0
METLIFE INC COM 59156R108 772 15,280 SH   OTR 1 2 0 15,280 0
METLIFE INC COM 59156R108 155 36,100 SH Call OTR 1 2 0 36,100 0
MICROSOFT CORP COM 594918104 58 16,700 SH Call OTR 1 2 0 16,700 0
MIDSOUTH BANCORP INC COM 598039105 799 54,216 SH   OTR 1 2 0 54,216 0
MONARCH FINANCIAL HOLDINGS I COM 60907Q100 368 29,420 SH   OTR 1 2 0 29,420 0
MORGAN STANLEY COM NEW 617446448 933 26,145 SH   OTR 1 2 0 26,145 0
MORGAN STANLEY COM NEW 617446448 301 46,200 SH Call OTR 1 2 0 46,200 0
NBT BANCORP INC COM 628778102 1,353 53,997 SH   OTR 1 2 0 53,997 0
NEWBRIDGE BANCORP CL A NO PAR 65080T102 89 10,000 SH   OTR 1 2 0 10,000 0
NORTHWEST BANCSHARES INC MD COM 667340103 997 84,119 SH   OTR 1 2 0 84,119 0
NXP SEMICONDUCTORS N V COM N6596X109 252 10,400 SH Call OTR 1 2 0 10,400 0
OLD SECOND BANCORP INC ILL COM 680277100 229 40,000 SH   OTR 1 2 0 40,000 0
PARTNERRE LTD COM G6852T105 773 6,761 SH   OTR 1 2 0 6,761 0
PEOPLES FINL CORP MISS COM 71103B102 214 21,000 SH   OTR 1 2 0 21,000 0
PFIZER INC COM 717081103 44 10,000 SH Call OTR 1 2 0 10,000 0
PFIZER INC COM 717081103 209 6,000 SH   OTR 1 2 0 6,000 0
PNC FINL SVCS GROUP INC *W EXP 12/31/201 693475121 312 11,890 SH   OTR 1 2 0 11,890 0
PNC FINL SVCS GROUP INC COM 693475105 196 18,000 SH Call OTR 1 2 0 18,000 0
PNC FINL SVCS GROUP INC COM 693475105 3,884 41,661 SH   OTR 1 2 0 41,661 0
POPULAR INC COM NEW 733174700 378 10,982 SH   OTR 1 2 0 10,982 0
PRUDENTIAL FINL INC COM 744320102 136 15,000 SH Call OTR 1 2 0 15,000 0
PUBLIC SVC ENTERPRISE GROUP COM 744573106 1,367 32,600 SH   OTR 1 2 0 32,600 0
REGIONS FINL CORP NEW COM 7591EP100 874 92,459 SH   OTR 1 2 0 92,459 0
REGIONS FINL CORP NEW COM 7591EP100 102 109,100 SH Call OTR 1 2 0 109,100 0
RITE AID CORP COM 767754104 3,093 355,662 SH   OTR 1 2 0 355,662 0
SEACOAST BKG CORP FLA COM NEW 811707801 1,949 136,564 SH   OTR 1 2 0 136,564 0
SKYWORKS SOLUTIONS INC COM 83088M102 519 14,200 SH Call OTR 1 2 0 14,200 0
SOUTH ST CORP COM 840441109 2,314 33,836 SH   OTR 1 2 0 33,836 0
SOUTHCOAST FINANCIAL CORP COM 84129R100 529 73,079 SH   OTR 1 2 0 73,079 0
SOUTHERN NATL BANCORP OF VA COM 843395104 2,260 189,933 SH   OTR 1 2 0 189,933 0
STATE BK FINL CORP COM 856190103 696 33,136 SH   OTR 1 2 0 33,136 0
STATE STR CORP COM 857477103 449 6,100 SH   OTR 1 2 0 6,100 0
STERLING BANCORP DEL COM 85917A100 804 59,954 SH   OTR 1 2 0 59,954 0
SUNTRUST BKS INC *W EXP 12/31/201 867914129 212 20,554 SH   OTR 1 2 0 20,554 0
SUNTRUST BKS INC COM 867914103 207 32,000 SH Call OTR 1 2 0 32,000 0
SUNTRUST BKS INC COM 867914103 1,094 26,620 SH   OTR 1 2 0 26,620 0
SUSQUEHANNA BANCSHARES INC P COM 869099101 403 29,373 SH   OTR 1 2 0 29,373 0
SYNOVUS FINL CORP COM NEW 87161C501 2,472 88,277 SH   OTR 1 2 0 88,277 0
TRAVELERS COMPANIES INC COM 89417E109 130 1,200 SH   OTR 1 2 0 1,200 0
TRAVELERS COMPANIES INC COM 89417E109 419 21,600 SH Call OTR 1 2 0 21,600 0
UNITED CMNTY BANCORP IND COM 90984R101 513 40,000 SH   OTR 1 2 0 40,000 0
UNITED FINL BANCORP INC NEW COM 910304104 608 48,926 SH   OTR 1 2 0 48,926 0
US BANCORP DEL COM NEW 902973304 1,083 24,800 SH   OTR 1 2 0 24,800 0
WATERSTONE FINL INC MD COM 94188P101 238 18,561 SH   OTR 1 2 0 18,561 0
WELLS FARGO & CO NEW *W EXP 10/28/201 949746119 541 26,400 SH   OTR 1 2 0 26,400 0
WELLS FARGO & CO NEW COM 949746101 306 5,619 SH   OTR 1 2 0 5,619 0
WELLS FARGO & CO NEW COM 949746101 378 55,000 SH Call OTR 1 2 0 55,000 0
WESTFIELD FINANCIAL INC NEW COM 96008P104 412 53,333 SH   OTR 1 2 0 53,333 0
XL GROUP PLC SHS G98290102 442 12,000 SH   OTR 1 2 0 12,000 0
YOU ON DEMAND HLDGS INC COM NEW 98741R207 55 25,432 SH   OTR 1 2 0 25,432 0
ZIONS BANCORPORATION COM 989701107 57 20,000 SH Call OTR 1 2 0 20,000 0