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 174 20,000 SH Call OTR 1 2 0 20,000 0
ALLIED WRLD ASSUR COM HLDG A SHS H01531104 285 7,500 SH   OTR 1 2 0 7,500 0
ALLSTATE CORP COM 020002101 721 7,825 SH   OTR 1 2 0 7,825 0
AMERICAN INTL GROUP INC *W EXP 01/19/202 026874156 12 442 SH   OTR 1 2 0 442 0
AMERICAN INTL GROUP INC COM NEW 026874784 410 7,520 SH   OTR 1 2 0 7,520 0
AMERICAN INTL GROUP INC COM NEW 026874784 534 32,300 SH Call OTR 1 2 0 32,300 0
AT&T INC COM 00206R102 258 7,295 SH   OTR 1 2 0 7,295 0
BANK OF AMERICA CORPORATION *W EXP 01/16/201 060505146 502 73,241 SH   OTR 1 2 0 73,241 0
BANK OF AMERICA CORPORATION COM 060505104 10,608 690,125 SH   OTR 1 2 0 690,125 0
BANK OF AMERICA CORPORATION COM 060505104 1,293 257,400 SH Call OTR 1 2 0 257,400 0
BARCLAYS BK PLC IPATH S&P500 VIX 06742E711 14 47,100 SH Call OTR 1 2 0 47,100 0
BB&T CORP COM 054937107 2,468 62,579 SH   OTR 1 2 0 62,579 0
BB&T CORP COM 054937107 469 56,100 SH Call OTR 1 2 0 56,100 0
BBCN BANCORP INC COM 073295107 319 19,981 SH   OTR 1 2 0 19,981 0
BECTON DICKINSON & CO COM 075887109 237 2,000 SH   OTR 1 2 0 2,000 0
BED BATH & BEYOND INC COM 075896100 77 15,000 SH Call OTR 1 2 0 15,000 0
BIOSCRIP INC COM 09069N108 107 12,802 SH   OTR 1 2 0 12,802 0
BRISTOL MYERS SQUIBB CO COM 110122108 136 2,800 SH   OTR 1 2 0 2,800 0
BRISTOL MYERS SQUIBB CO COM 110122108 133 20,000 SH Call OTR 1 2 0 20,000 0
BROOKLINE BANCORP INC DEL COM 11373M107 267 28,505 SH   OTR 1 2 0 28,505 0
C&J ENERGY SVCS INC COM 12467B304 203 6,000 SH   OTR 1 2 0 6,000 0
CAPITAL ONE FINL CORP *W EXP 11/14/201 14040H139 4,127 102,256 SH   OTR 1 2 0 102,256 0
CAPITAL ONE FINL CORP COM 14040H105 1,904 23,310 SH   OTR 1 2 0 23,310 0
CERUS CORP COM 157085101 240 57,837 SH   OTR 1 2 0 57,837 0
CIT GROUP INC COM NEW 125581801 81 15,000 SH Call OTR 1 2 0 15,000 0
CIT GROUP INC COM NEW 125581801 737 16,100 SH   OTR 1 2 0 16,100 0
CITIGROUP INC COM NEW 172967424 1,101 23,375 SH   OTR 1 2 0 23,375 0
CITIGROUP INC COM NEW 172967424 178 22,800 SH Call OTR 1 2 0 22,800 0
CLIFTON BANCORP INC COM 186873105 186 14,681 SH   OTR 1 2 0 14,681 0
CNO FINL GROUP INC COM 12621E103 5,236 294,171 SH   OTR 1 2 0 294,171 0
COMERICA INC *W EXP 11/14/201 200340115 2,014 95,642 SH   OTR 1 2 0 95,642 0
COMERICA INC COM 200340107 389 7,750 SH   OTR 1 2 0 7,750 0
CONNECTONE BANCORP INC COM 20786U101 499 10,000 SH   OTR 1 2 0 10,000 0
DENBURY RES INC COM NEW 247916208 60 15,000 SH Call OTR 1 2 0 15,000 0
DEVON ENERGY CORP NEW COM 25179M103 254 3,200 SH   OTR 1 2 0 3,200 0
DEVON ENERGY CORP NEW COM 25179M103 90 3,000 SH Call OTR 1 2 0 3,000 0
DISCOVER FINL SVCS COM 254709108 496 8,000 SH   OTR 1 2 0 8,000 0
DISCOVER FINL SVCS COM 254709108 398 24,300 SH Call OTR 1 2 0 24,300 0
E M C CORP MASS COM 268648102 95 25,000 SH Call OTR 1 2 0 25,000 0
EASTERN VA BANKSHARES INC COM 277196101 102 16,000 SH   OTR 1 2 0 16,000 0
ENDURANCE SPECIALTY HLDGS LT SHS G30397106 340 6,600 SH   OTR 1 2 0 6,600 0
ENTERPRISE FINL SVCS CORP COM 293712105 601 33,249 SH   OTR 1 2 0 33,249 0
ESSA BANCORP INC COM 29667D104 558 50,132 SH   OTR 1 2 0 50,132 0
FACEBOOK INC CL A 30303M102 370 5,500 SH   OTR 1 2 0 5,500 0
FIFTH THIRD BANCORP COM 316773100 2,207 103,386 SH   OTR 1 2 0 103,386 0
FIFTH THIRD BANCORP COM 316773100 228 74,000 SH Call OTR 1 2 0 74,000 0
FIRST CLOVER LEAF FIN CORP COM 31969M105 176 17,752 SH   OTR 1 2 0 17,752 0
FIRST DEFIANCE FINL CORP COM 32006W106 503 17,541 SH   OTR 1 2 0 17,541 0
FIRST SEC GROUP INC COM NEW 336312202 115 52,650 SH   OTR 1 2 0 52,650 0
GENERAL ELECTRIC CO COM 369604103 304 71,000 SH Call OTR 1 2 0 71,000 0
GENIE ENERGY LTD CL B 372284208 281 35,739 SH   OTR 1 2 0 35,739 0
GENWORTH FINL INC COM CL A 37247D106 81 12,000 SH Call OTR 1 2 0 12,000 0
HAMPTON ROADS BANKSHARES INC COM NEW 409321502 870 502,878 SH   OTR 1 2 0 502,878 0
HANCOCK HLDG CO COM 410120109 1,119 31,683 SH   OTR 1 2 0 31,683 0
HANMI FINL CORP COM NEW 410495204 410 19,473 SH   OTR 1 2 0 19,473 0
HANOVER INS GROUP INC COM 410867105 823 13,026 SH   OTR 1 2 0 13,026 0
HARTFORD FINL SVCS GROUP INC *W EXP 06/26/201 416515120 1,420 52,155 SH   OTR 1 2 0 52,155 0
HOLOGIC INC FRNT 2.000%12/1 436440AB7 67 11,000 SH Call OTR 1 2 0 11,000 0
HUDSON CITY BANCORP COM 443683107 147 15,000 SH   OTR 1 2 0 15,000 0
HUDSON VALLEY HOLDING CORP COM 444172100 651 36,043 SH   OTR 1 2 0 36,043 0
HUNTINGTON BANCSHARES INC COM 446150104 614 64,330 SH   OTR 1 2 0 64,330 0
HUNTSMAN CORP COM 447011107 137 15,000 SH Call OTR 1 2 0 15,000 0
IBERIABANK CORP COM 450828108 292 4,218 SH   OTR 1 2 0 4,218 0
IMPAC MTG HLDGS INC COM NEW 45254P508 463 96,365 PRN   OTR 1 2 0 96,365 0
INVENSENSE INC COM 46123D205 137 15,000 SH Call OTR 1 2 0 15,000 0
INVESTORS BANCORP INC NEW COM 46146L101 1,715 155,217 SH   OTR 1 2 0 155,217 0
JPMORGAN CHASE & CO *W EXP 10/28/201 46634E114 2,554 132,139 SH   OTR 1 2 0 132,139 0
JPMORGAN CHASE & CO COM 46625H100 1,189 20,634 SH   OTR 1 2 0 20,634 0
JPMORGAN CHASE & CO COM 46625H100 878 103,100 SH Call OTR 1 2 0 103,100 0
KEARNY FINL CORP COM 487169104 166 10,946 SH   OTR 1 2 0 10,946 0
KEYCORP NEW COM 493267108 2,049 142,960 SH   OTR 1 2 0 142,960 0
KEYCORP NEW COM 493267108 243 45,100 SH Call OTR 1 2 0 45,100 0
LEADING BRANDS INC COM NEW 52170U207 887 190,202 SH   OTR 1 2 0 190,202 0
LEGG MASON INC COM 524901105 421 8,200 SH   OTR 1 2 0 8,200 0
LENNAR CORP CL A 526057104 235 5,600 SH   OTR 1 2 0 5,600 0
LINCOLN NATL CORP IND COM 534187109 340 6,600 SH   OTR 1 2 0 6,600 0
M & T BK CORP *W EXP 12/23/201 55261F112 3,826 76,254 SH   OTR 1 2 0 76,254 0
MADISON SQUARE GARDEN CO CL A 55826P100 229 3,667 SH   OTR 1 2 0 3,667 0
MAIDEN HOLDINGS LTD SHS G5753U112 272 22,500 SH   OTR 1 2 0 22,500 0
MERCHANTS BANCSHARES COM 588448100 267 8,360 SH   OTR 1 2 0 8,360 0
MERIDIAN INTERSTAT BANCORP I COM 58964Q104 533 20,767 SH   OTR 1 2 0 20,767 0
METLIFE INC COM 59156R108 849 15,280 SH   OTR 1 2 0 15,280 0
METLIFE INC COM 59156R108 431 35,400 SH Call OTR 1 2 0 35,400 0
MICROSOFT CORP COM 594918104 157 15,200 SH Call OTR 1 2 0 15,200 0
MIDSOUTH BANCORP INC COM 598039105 279 14,042 SH   OTR 1 2 0 14,042 0
MONARCH FINANCIAL HOLDINGS I COM 60907Q100 345 29,420 SH   OTR 1 2 0 29,420 0
MORGAN STANLEY COM NEW 617446448 875 27,057 SH   OTR 1 2 0 27,057 0
MORGAN STANLEY COM NEW 617446448 571 44,000 SH Call OTR 1 2 0 44,000 0
NBT BANCORP INC COM 628778102 1,297 53,997 SH   OTR 1 2 0 53,997 0
NORTHWEST BANCSHARES INC MD COM 667340103 1,735 127,817 SH   OTR 1 2 0 127,817 0
PARTNERRE LTD COM G6852T105 738 6,761 SH   OTR 1 2 0 6,761 0
PATRIOT NATL BANCORP INC COM 70336F104 34 24,285 SH   OTR 1 2 0 24,285 0
PEOPLES FINL CORP MISS COM 71103B102 281 21,000 SH   OTR 1 2 0 21,000 0
PNC FINL SVCS GROUP INC *W EXP 12/31/201 693475121 309 11,890 SH   OTR 1 2 0 11,890 0
PNC FINL SVCS GROUP INC COM 693475105 344 12,000 SH Call OTR 1 2 0 12,000 0
PNC FINL SVCS GROUP INC COM 693475105 4,129 46,366 SH   OTR 1 2 0 46,366 0
POPULAR INC COM NEW 733174700 498 14,584 SH   OTR 1 2 0 14,584 0
PRUDENTIAL FINL INC COM 744320102 274 10,000 SH Call OTR 1 2 0 10,000 0
PUBLIC SVC ENTERPRISE GROUP COM 744573106 1,346 33,000 SH   OTR 1 2 0 33,000 0
REGIONS FINL CORP NEW COM 7591EP100 720 67,800 SH   OTR 1 2 0 67,800 0
REGIONS FINL CORP NEW COM 7591EP100 452 169,100 SH Call OTR 1 2 0 169,100 0
RITE AID CORP COM 767754104 1,437 200,400 SH   OTR 1 2 0 200,400 0
ROSS STORES INC COM 778296103 53 10,000 SH Call OTR 1 2 0 10,000 0
SEACOAST BKG CORP FLA COM NEW 811707801 1,494 137,526 SH   OTR 1 2 0 137,526 0
SKYWORKS SOLUTIONS INC COM 83088M102 343 14,000 SH Call OTR 1 2 0 14,000 0
SOUTHCOAST FINANCIAL CORP COM 84129R100 204 28,079 SH   OTR 1 2 0 28,079 0
SOUTHERN NATL BANCORP OF VA COM 843395104 2,110 189,055 SH   OTR 1 2 0 189,055 0
STAPLES INC COM 855030102 27 20,000 SH Call OTR 1 2 0 20,000 0
STATE STR CORP COM 857477103 410 6,100 SH   OTR 1 2 0 6,100 0
SUNTRUST BKS INC *W EXP 12/31/201 867914129 78 7,354 SH   OTR 1 2 0 7,354 0
SUNTRUST BKS INC COM 867914103 225 20,000 SH Call OTR 1 2 0 20,000 0
SUNTRUST BKS INC COM 867914103 1,081 26,998 SH   OTR 1 2 0 26,998 0
SUSQUEHANNA BANCSHARES INC P COM 869099101 408 38,647 SH   OTR 1 2 0 38,647 0
SYNOVUS FINL CORP COM NEW 87161C501 1,644 67,451 SH   OTR 1 2 0 67,451 0
TALISMAN ENERGY INC COM 87425E103 28 20,000 SH Call OTR 1 2 0 20,000 0
TAYLOR CAP GROUP INC COM 876851106 11,072 517,888 SH   OTR 1 2 0 517,888 0
UNITED FINL BANCORP INC NEW COM 910304104 663 48,926 SH   OTR 1 2 0 48,926 0
UNITED PARCEL SERVICE INC CL B 911312106 205 2,000 SH   OTR 1 2 0 2,000 0
UNITED PARCEL SERVICE INC CL B 911312106 71 6,000 SH Call OTR 1 2 0 6,000 0
US BANCORP DEL COM NEW 902973304 1,074 24,800 SH   OTR 1 2 0 24,800 0
WATERSTONE FINL INC MD COM 94188P101 212 18,561 SH   OTR 1 2 0 18,561 0
WELLS FARGO & CO NEW *W EXP 10/28/201 949746119 570 26,400 SH   OTR 1 2 0 26,400 0
WELLS FARGO & CO NEW COM 949746101 295 5,619 SH   OTR 1 2 0 5,619 0
WELLS FARGO & CO NEW COM 949746101 873 62,500 SH Call OTR 1 2 0 62,500 0
XL GROUP PLC SHS G98290102 393 12,000 SH   OTR 1 2 0 12,000 0
YOU ON DEMAND HLDGS INC COM NEW 98741R207 69 25,732 SH   OTR 1 2 0 25,732 0