Fund HoldingsParallax Volatility Advisers, L.P.

Total Portfolio Value
$50.70B
Total Bought
$11.16B
Total Sold
$25.96B
Net Transaction
-$14.80B
Filing Period:
Securities
SharesValue ($K)
Q3 2025
Q4 2025
Change
Q3 2025
Q4 2025
Weight (%)
Change
SELECT SECTOR SPDR TR(Call)
ST STR FINL ETF
017,601,200+17,601,2000964,018+964,018
SELECT SECTOR SPDR TR(Put)
ST STR FINL ETF
011,350,400+11,350,4000621,661+621,661
SPDR S&P 500 ETF TR(SPY)(Call)2,330,0002,732,800+402,8001,552,1991,863,551+311,352
AMERICAN EXPRESS CO(AXP)0733,883+733,8830271,5000.54%+271,500
ISHARES SILVER TR(SLV)(Call)1,625,2004,010,900+2,385,70068,860258,382+189,522
ISHARES SILVER TR(SLV)(Put)03,035,600+3,035,6000195,553+195,553
SELECT SECTOR SPDR TR(Put)
ST STR ENERG ETF
03,776,100+3,776,1000168,829+168,829
ISHARES TR(Put)621,1002,327,600+1,706,50057,992223,519+165,527
APPLE INC(AAPL)(Put)1,698,0002,163,000+465,000432,362588,033+155,671
ISHARES TR0625,766+625,7660154,0390.30%+154,039
MICROSOFT CORP(MSFT)(Put)0543,700+543,7000262,944+262,944
AMERICAN EXPRESS CO(AXP)(Put)0473,500+473,5000175,171+175,171
ALPHABET INC(GOOG)(Put)1,411,0001,550,100+139,100343,014485,181+142,167
SELECT SECTOR SPDR TR(Put)
ST STR INDL ETF
0861,700+861,7000133,667+133,667
SPDR SERIES TRUST(Put)
ST STR SP REGBNK
01,924,900+1,924,9000124,753+124,753
VERTIV HOLDINGS CO(VRT)(Put)0795,800+795,8000128,928+128,928
UNITEDHEALTH GROUP INC(UNH)(Put)0496,300+496,3000163,834+163,834
MICRON TECHNOLOGY INC(MU)(Put)0603,200+603,2000172,159+172,159
TESLA INC(TSLA)(Call)0779,300+779,3000350,467+350,467
BERKSHIRE HATHAWAY INC DEL(Put)0274,100+274,1000137,776+137,776
VANECK ETF TRUST(Call)
SEMICONDUCTR ETF
466,600718,700+252,100152,280258,825+106,546
SELECT SECTOR SPDR TR(Call)
ST STR ENERG ETF
02,144,000+2,144,000095,858+95,858
INTERNATIONAL BUSINESS MACHS(IBM)(Put)0336,100+336,100099,556+99,556
ISHARES BITCOIN TRUST ETF(IBIT)(Put)02,230,100+2,230,1000110,724+110,724
SPDR S&P 500 ETF TR(SPY)0134,473+134,473091,7000.18%+91,700
ISHARES TR(Call)01,077,500+1,077,500093,915+93,915
ORACLE CORP(ORCL)(Call)0638,100+638,1000124,372+124,372
TAKE-TWO INTERACTIVE SOFTWAR(TTWO)(Put)289,400631,100+341,70074,769161,581+86,811
SELECT SECTOR SPDR TR(Put)
ST STR UTIL ETF
01,848,700+1,848,700078,921+78,921
COREWEAVE INC(CRWV)(Call)231,3001,540,700+1,309,40031,653110,330+78,676
CITIGROUP INC(C)(Call)01,237,300+1,237,3000144,381+144,381
ISHARES TR(Call)01,087,900+1,087,9000104,471+104,471
BANK AMERICA CORP(Call)02,123,400+2,123,4000116,787+116,787
ISHARES TR(Call)03,188,800+3,188,8000174,459+174,459
ORACLE CORP(ORCL)(Put)836,8001,549,500+712,700235,342302,013+66,671
JPMORGAN CHASE & CO.(JPM)(Call)0425,700+425,7000137,169+137,169
CISCO SYS INC(CSCO)(Put)0985,500+985,500075,913+75,913
COREWEAVE INC(CRWV)(Put)419,0001,628,600+1,209,60057,340116,624+59,284
APOLLO GLOBAL MGMT INC(APO)(Call)01,463,500+1,463,5000211,856+211,856
WALMART INC(WMT)(Call)0606,800+606,800067,604+67,604
NVIDIA CORPORATION(NVDA)(Call)2,382,5002,683,800+301,300444,527500,529+56,002
NETFLIX INC(NFLX)(Put)01,939,200+1,939,2000181,819+181,819
SPDR SERIES TRUST(Call)
ST STR SP BIOT
0437,300+437,300053,320+53,320
GE VERNOVA INC(GEV)(Put)090,700+90,700059,279+59,279
TESLA INC(TSLA)(Put)2,419,8002,505,900+86,1001,076,1331,126,953+50,820
ALPHABET INC(GOOG)(Put)530,000569,300+39,300129,082178,646+49,565
SELECT SECTOR SPDR TR(Put)
ST STR CARE ETF
0310,000+310,000047,988+47,988
JPMORGAN CHASE & CO.(JPM)(Put)0510,000+510,0000164,332+164,332
SNOWFLAKE INC(SNOW)(Call)246,900471,400+224,50055,688103,406+47,718
CARVANA CO(CVNA)(Put)0177,800+177,800075,035+75,035
CHEVRON CORP NEW(CVX)(Put)0386,700+386,700058,937+58,937
FREEPORT-MCMORAN INC(FCX)(Call)01,105,700+1,105,700056,159+56,159
ALPHABET INC(GOOG)(Call)1,018,300925,900-92,400247,549289,807+42,258
CHIPOTLE MEXICAN GRILL INC(CMG)(Put)01,810,500+1,810,500066,989+66,989
ALIBABA GROUP HLDG LTD(BABA)0337,770+337,770049,5100.10%+49,510
MORGAN STANLEY(MS)164,861376,397+211,53626,20666,8220.13%+40,615
ALPHABET INC(GOOG)(Call)357,900407,000+49,10087,167127,717+40,550
INTEL CORP(INTC)(Call)1,451,0002,403,100+952,10048,68188,674+39,993
EXXON MOBIL CORP(Call)0893,900+893,9000107,572+107,572
TERAWULF INC(WULF)(Call)05,121,000+5,121,000058,840+58,840
VISA INC(V)(Call)707,000796,800+89,800241,356279,446+38,090
BROADCOM INC(AVGO)69,932171,818+101,88623,07159,4660.12%+36,395
AMERICAN AIRLS GROUP INC(AAL)(Put)012,466,200+12,466,2000191,107+191,107
SHOPIFY INC(SHOP)(Put)0341,900+341,900055,036+55,036
WALMART INC(WMT)(Put)0608,300+608,300067,771+67,771
RIVIAN AUTOMOTIVE INC(RIVN)(Call)02,545,000+2,545,000050,162+50,162
TESLA INC(TSLA)247,187321,611+74,424109,929144,6350.29%+34,706
US BANCORP DEL(USB)(Put)0892,200+892,200047,608+47,608
TRUIST FINL CORP(TFC)(Put)0686,800+686,800033,797+33,797
ARES MANAGEMENT CORPORATION(ARES)(Put)0208,000+208,000033,619+33,619
BURLINGTON STORES INC(BURL)(Put)0158,300+158,300045,725+45,725
GOLDMAN SACHS GROUP INC(GS)(Call)087,200+87,200076,649+76,649
FREEPORT-MCMORAN INC(FCX)(Put)0883,900+883,900044,893+44,893
META PLATFORMS INC(META)(Put)0871,100+871,1000575,004+575,004
WELLS FARGO CO NEW(WFC)(Put)0889,600+889,600082,911+82,911
AMAZON COM INC(AMZN)(Call)1,071,9001,149,800+77,900235,357265,397+30,040
CLOUDFLARE INC(NET)(Call)0271,300+271,300053,487+53,487
CHIPOTLE MEXICAN GRILL INC(CMG)0801,739+801,739029,6640.06%+29,664
ISHARES INC(Put)01,328,700+1,328,700042,213+42,213
XPO INC(XPO)(Put)0200,000+200,000027,182+27,182
SNOWFLAKE INC(SNOW)(Put)182,300307,600+125,30041,11867,475+26,357
KRANESHARES TRUST(Call)02,406,200+2,406,200081,931+81,931
BLOCK INC(XYZ)(Call)01,082,400+1,082,400070,453+70,453
BANK AMERICA CORP(Put)02,817,500+2,817,5000154,963+154,963
BOSTON SCIENTIFIC CORP(BSX)(Put)0261,500+261,500024,934+24,934
DATADOG INC(DDOG)(Put)0437,400+437,400059,482+59,482
LOCKHEED MARTIN CORP(LMT)(Call)070,800+70,800034,244+34,244
CAPITAL ONE FINL CORP(COF)(Put)0105,600+105,600025,593+25,593
VISTRA CORP(VST)(Put)0943,200+943,2000152,166+152,166
SPDR DOW JONES INDL AVERAGE(DIA)(Put)063,800+63,800030,660+30,660
GENERAL MTRS CO(GM)(Put)0308,100+308,100025,055+25,055
PFIZER INC(PFE)(Call)02,014,500+2,014,500050,161+50,161
TERAWULF INC(WULF)(Put)03,258,500+3,258,500037,440+37,440
THE CIGNA GROUP(CI)(Call)085,200+85,200023,450+23,450
OCCIDENTAL PETE CORP(OXY)(Put)01,119,400+1,119,400046,030+46,030
DEVON ENERGY CORP NEW(DVN)(Call)0850,600+850,600031,157+31,157
SOFI TECHNOLOGIES INC(SOFI)(Put)02,367,200+2,367,200061,973+61,973
ISHARES BITCOIN TRUST ETF(IBIT)(Call)1,638,6002,597,600+959,000106,509128,971+22,462
NEXTERA ENERGY INC(NEE)(Put)0390,400+390,400031,341+31,341
HONEYWELL INTL INC(HON)(Call)0210,800+210,800041,125+41,125
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