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                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
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              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>-475.00000000</shareNo>
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            <expDt>2026-10-21</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>963883.29000000</unrealizedAppr>
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        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>PUT StateSt S&amp;P 500 ETF 03/17/27 P661.43</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   270317P00661430"/>
        </identifiers>
        <balance>475.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>650988.88000000</valUSD>
        <pctVal>0.147796880579</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
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                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>475.00000000</shareNo>
            <exercisePrice>661.43000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2027-03-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-1463378.03000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>PUT SPDR S&amp;P 500 ETF 01/20/2027 P616.86</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   270120P00616860"/>
        </identifiers>
        <balance>-475.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-316931.07000000</valUSD>
        <pctVal>-0.07195426057</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
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        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
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              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
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            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
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                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>-475.00000000</shareNo>
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            <expDt>2027-01-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>672352.02000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>PUT State St 500 ETF 07/21/2027 P679.33</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   270721P00679330"/>
        </identifiers>
        <balance>-475.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-1110060.32000000</valUSD>
        <pctVal>-0.25202189713</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
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                <identifiers>
                  <other otherDesc="OCC" value="SPY   270721P00679330"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>-475.00000000</shareNo>
            <exercisePrice>679.33000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2027-07-21</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>9829.71000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>PUT StateSt S&amp;P 500 ETF 04/21/27 P699.94</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   270421P00699940"/>
        </identifiers>
        <balance>475.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1052624.37000000</valUSD>
        <pctVal>0.238981959734</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
                <issueTitle>PUT StateSt S&amp;P 500 ETF 04/21/27 P699.94</issueTitle>
                <identifiers>
                  <other otherDesc="OCC" value="SPY   270421P00699940"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>475.00000000</shareNo>
            <exercisePrice>699.94000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2027-04-21</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-916867.16000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>PUT State St SPDR ETF 06/16/2027 P740.96</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   270616P00740960"/>
        </identifiers>
        <balance>475.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1658700.29000000</valUSD>
        <pctVal>0.376582052643</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
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                <identifiers>
                  <other otherDesc="OCC" value="SPY   270616P00740960"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>475.00000000</shareNo>
            <exercisePrice>740.96000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2027-06-16</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-342616.24000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>PUT State St SPDR ETF 06/16/2027 P666.86</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   270616P00666860"/>
        </identifiers>
        <balance>-475.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-923649.57000000</valUSD>
        <pctVal>-0.20970024126</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
                <issueTitle>PUT State St SPDR ETF 06/16/2027 P666.86</issueTitle>
                <identifiers>
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                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>-475.00000000</shareNo>
            <exercisePrice>666.86000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2027-06-16</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>113112.49000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>PUT SPDR S&amp;P 500 ETF 11/18/2025 P662.63</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   261118P00662630"/>
        </identifiers>
        <balance>475.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>309616.17000000</valUSD>
        <pctVal>0.070293526523</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
                <issueTitle>PUT SPDR S&amp;P 500 ETF 11/18/2025 P662.63</issueTitle>
                <identifiers>
                  <other otherDesc="OCC" value="SPY   261118P00662630"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>475.00000000</shareNo>
            <exercisePrice>662.63000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-11-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-1638043.37000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>PUT SPDR S&amp;P 500 ETF 08/19/26   P574.3</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   260819P00574300"/>
        </identifiers>
        <balance>-475.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-4069.85000000</valUSD>
        <pctVal>-0.00092399602</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
                <issueTitle>PUT SPDR S&amp;P 500 ETF 08/19/26   P574.3</issueTitle>
                <identifiers>
                  <other otherDesc="OCC" value="SPY   260819P00574300"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>-475.00000000</shareNo>
            <exercisePrice>574.30000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-08-19</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>893063.04000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>CALL State Street SPDR 08/28/2026 C786.5</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   260828C00786500"/>
        </identifiers>
        <balance>158.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>6794.00000000</valUSD>
        <pctVal>0.001542471826</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
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                  <other otherDesc="OCC" value="SPY   260828C00786500"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>158.00000000</shareNo>
            <exercisePrice>786.50000000</exercisePrice>
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            <expDt>2026-08-28</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>5168.48000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
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          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>CALL SPDR S&amp;P 500 ETF 08/19/2026 C733.83</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   260819C00733830"/>
        </identifiers>
        <balance>-475.00000000</balance>
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        <curCd>USD</curCd>
        <valUSD>-902708.43000000</valUSD>
        <pctVal>-0.20494588175</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
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                  <other otherDesc="OCC" value="SPY   260819C00733830"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>-475.00000000</shareNo>
            <exercisePrice>733.83000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-08-19</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-496465.54000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>PUT State ST ETF 05/19/2027 P741.25</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   270519P00741250"/>
        </identifiers>
        <balance>475.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1594475.73000000</valUSD>
        <pctVal>0.362000867132</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
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                  <other otherDesc="OCC" value="SPY   270519P00741250"/>
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              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>475.00000000</shareNo>
            <exercisePrice>741.25000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2027-05-19</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-478090.80000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>CALL State St SP  ETF 06/16/2027 C872.63</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   270616C00872630"/>
        </identifiers>
        <balance>-475.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-412674.73000000</valUSD>
        <pctVal>-0.09369136656</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
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                <identifiers>
                  <other otherDesc="OCC" value="SPY   270616C00872630"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>-475.00000000</shareNo>
            <exercisePrice>872.63000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2027-06-16</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>191846.24000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>CALL SPDR S&amp;P 500 ETF 10/21/2026 C773.06</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   261021C00773060"/>
        </identifiers>
        <balance>-475.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-461538.98000000</valUSD>
        <pctVal>-0.10478523305</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
                <issueTitle>CALL SPDR S&amp;P 500 ETF 10/21/2026 C773.06</issueTitle>
                <identifiers>
                  <other otherDesc="OCC" value="SPY   261021C00773060"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>-475.00000000</shareNo>
            <exercisePrice>773.06000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-10-21</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>13681.48000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>CALL State St S&amp;P ETF 02/17/2027 C794.98</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   270217C00794980"/>
        </identifiers>
        <balance>-475.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-856424.95000000</valUSD>
        <pctVal>-0.19443793887</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
                <issueTitle>CALL State St S&amp;P ETF 02/17/2027 C794.98</issueTitle>
                <identifiers>
                  <other otherDesc="OCC" value="SPY   270217C00794980"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>-475.00000000</shareNo>
            <exercisePrice>794.98000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2027-02-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-387266.86000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>PUT SPDR S&amp;P 500 ETF 01/20/2027 P685.4</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   270120P00685400"/>
        </identifiers>
        <balance>475.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>633734.69000000</valUSD>
        <pctVal>0.143879585619</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
                <issueTitle>PUT SPDR S&amp;P 500 ETF 01/20/2027 P685.4</issueTitle>
                <identifiers>
                  <other otherDesc="OCC" value="SPY   270120P00685400"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>475.00000000</shareNo>
            <exercisePrice>685.40000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2027-01-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-1209550.92000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>CALL State St ETF 05/19/2027 C871.58</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   270518C00871580"/>
        </identifiers>
        <balance>-475.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-327987.26000000</valUSD>
        <pctVal>-0.07446439622</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
                <issueTitle>CALL State St ETF 05/19/2027 C871.58</issueTitle>
                <identifiers>
                  <other otherDesc="OCC" value="SPY   270518C00871580"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>-475.00000000</shareNo>
            <exercisePrice>871.58000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2027-05-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>161111.10000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>CALL SPDR S&amp;P 500 ETF 09/19/2026 C755.49</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   260916C00755490"/>
        </identifiers>
        <balance>-475.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-528370.53000000</valUSD>
        <pctVal>-0.11995829502</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
                <issueTitle>CALL SPDR S&amp;P 500 ETF 09/19/2026 C755.49</issueTitle>
                <identifiers>
                  <other otherDesc="OCC" value="SPY   260916C00755490"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>-475.00000000</shareNo>
            <exercisePrice>755.49000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-09-16</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>707.73000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>PUT State Street SPDR  08/28/2026 P786.5</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   260828P00786500"/>
        </identifiers>
        <balance>-158.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-593606.00000000</valUSD>
        <pctVal>-0.13476899189</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
                <issueTitle>PUT State Street SPDR  08/28/2026 P786.5</issueTitle>
                <identifiers>
                  <other otherDesc="OCC" value="SPY   260828P00786500"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>-158.00000000</shareNo>
            <exercisePrice>786.50000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-08-28</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>262058.83000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>PUT State Street SPDR 04/21/2027 P629.95</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   270421P00629950"/>
        </identifiers>
        <balance>-475.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-575490.10000000</valUSD>
        <pctVal>-0.13065605910</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
                <issueTitle>PUT State Street SPDR 04/21/2027 P629.95</issueTitle>
                <identifiers>
                  <other otherDesc="OCC" value="SPY   270421P00629950"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>-475.00000000</shareNo>
            <exercisePrice>629.95000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2027-04-21</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>562444.89000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>PUT StateSt S&amp;P 500 ETF 03/17/27 P595.29</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   270317P00595290"/>
        </identifiers>
        <balance>-475.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-362181.14000000</valUSD>
        <pctVal>-0.08222758382</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
                <issueTitle>PUT StateSt S&amp;P 500 ETF 03/17/27 P595.29</issueTitle>
                <identifiers>
                  <other otherDesc="OCC" value="SPY   270317P00595290"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>-475.00000000</shareNo>
            <exercisePrice>595.29000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2027-03-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>935851.95000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>CALL SPDR S&amp;P 500 ETF 11/18/2026 C778.52</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   261118C00778520"/>
        </identifiers>
        <balance>-475.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-577325.36000000</valUSD>
        <pctVal>-0.13107272629</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
                <issueTitle>CALL SPDR S&amp;P 500 ETF 11/18/2026 C778.52</issueTitle>
                <identifiers>
                  <other otherDesc="OCC" value="SPY   261118C00778520"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>-475.00000000</shareNo>
            <exercisePrice>778.52000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-11-18</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-84229.90000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>CALL SPDR S&amp;P 500 ETF 05/19/2027 C0.01</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   270519C00000010"/>
        </identifiers>
        <balance>3578.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>266956517.49000000</valUSD>
        <pctVal>60.60831720411</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
                <issueTitle>CALL SPDR S&amp;P 500 ETF 05/19/2027 C0.01</issueTitle>
                <identifiers>
                  <other otherDesc="OCC" value="SPY   270519C00000010"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>3578.00000000</shareNo>
            <exercisePrice>0.01000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2027-05-19</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>82463053.27000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>PUT SPDR S&amp;P 500 ETF 09/16/2026 P593.26</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   260916P00593260"/>
        </identifiers>
        <balance>-475.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-34473.74000000</valUSD>
        <pctVal>-0.00782672544</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
                <issueTitle>PUT SPDR S&amp;P 500 ETF 09/16/2026 P593.26</issueTitle>
                <identifiers>
                  <other otherDesc="OCC" value="SPY   260916P00593260"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>-475.00000000</shareNo>
            <exercisePrice>593.26000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-09-16</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>841759.52000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>CALL SPDR S&amp;P 500 ETF 12/16/2026 C781.45</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   261216C00781450"/>
        </identifiers>
        <balance>-475.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-715794.79000000</valUSD>
        <pctVal>-0.16251005254</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
                <issueTitle>CALL SPDR S&amp;P 500 ETF 12/16/2026 C781.45</issueTitle>
                <identifiers>
                  <other otherDesc="OCC" value="SPY   261216C00781450"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>-475.00000000</shareNo>
            <exercisePrice>781.45000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-12-16</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-292915.40000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>CALL State Street SPD 04/21/2027 C815.33</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   270421C00815330"/>
        </identifiers>
        <balance>-475.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-840402.63000000</valUSD>
        <pctVal>-0.19080032080</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
                <issueTitle>CALL State Street SPD 04/21/2027 C815.33</issueTitle>
                <identifiers>
                  <other otherDesc="OCC" value="SPY   270421C00815330"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>-475.00000000</shareNo>
            <exercisePrice>815.33000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2027-04-21</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-302855.27000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>CALL SPDR S&amp;P 500 ETF 02/16/2028 C68.33</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   280216C00068330"/>
        </identifiers>
        <balance>842.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>56763430.00000000</valUSD>
        <pctVal>12.88725221388</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
                <issueTitle>CALL SPDR S&amp;P 500 ETF 02/16/2028 C68.33</issueTitle>
                <identifiers>
                  <other otherDesc="OCC" value="SPY   280216C00068330"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>842.00000000</shareNo>
            <exercisePrice>68.33000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2028-02-16</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>3696212.27000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>PUT SPDR S&amp;P 500 ETF 09/16/2026 P659.18</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   260916P00659180"/>
        </identifiers>
        <balance>475.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>89213.93000000</valUSD>
        <pctVal>0.020254632549</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
                <issueTitle>PUT SPDR S&amp;P 500 ETF 09/16/2026 P659.18</issueTitle>
                <identifiers>
                  <other otherDesc="OCC" value="SPY   260916P00659180"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>475.00000000</shareNo>
            <exercisePrice>659.18000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2026-09-16</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-1528187.81000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>PUT StateSt S&amp;P 500 ETF 02/17/27 P686.29</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   270217P00686290"/>
        </identifiers>
        <balance>475.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>732250.41000000</valUSD>
        <pctVal>0.166246044634</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
                <issueTitle>PUT StateSt S&amp;P 500 ETF 02/17/27 P686.29</issueTitle>
                <identifiers>
                  <other otherDesc="OCC" value="SPY   270217P00686290"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>475.00000000</shareNo>
            <exercisePrice>686.29000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2027-02-17</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-1271241.49000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>CALL SPDR S&amp;P 500 ETF 01/20/2027 C790.78</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   270120C00790780"/>
        </identifiers>
        <balance>-475.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-749496.27000000</valUSD>
        <pctVal>-0.17016144839</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
                <issueTitle>CALL SPDR S&amp;P 500 ETF 01/20/2027 C790.78</issueTitle>
                <identifiers>
                  <other otherDesc="OCC" value="SPY   270120C00790780"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>-475.00000000</shareNo>
            <exercisePrice>790.78000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2027-01-20</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-210248.17000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>CALL State St 500 ETF 07/21/2027 C892.19</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   270721C00892190"/>
        </identifiers>
        <balance>-475.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-362545.18000000</valUSD>
        <pctVal>-0.08231023343</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Call</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
                <issueTitle>CALL State St 500 ETF 07/21/2027 C892.19</issueTitle>
                <identifiers>
                  <other otherDesc="OCC" value="SPY   270721C00892190"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>-475.00000000</shareNo>
            <exercisePrice>892.19000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2027-07-21</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>119432.99000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>PUT State St ETF 05/19/2027 P667.13</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   270519P00667130"/>
        </identifiers>
        <balance>-475.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>-861520.66000000</valUSD>
        <pctVal>-0.19559484042</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Written</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
                <issueTitle>PUT State St ETF 05/19/2027 P667.13</issueTitle>
                <identifiers>
                  <other otherDesc="OCC" value="SPY   270519P00667130"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>-475.00000000</shareNo>
            <exercisePrice>667.13000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2027-05-19</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>282114.21000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>State Street SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>PUT State St 500 ETF 07/21/2027 P754.81</title>
        <cusip>N/A</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
          <other otherDesc="OCC" value="SPY   270721P00754810"/>
        </identifiers>
        <balance>475.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>1955716.31000000</valUSD>
        <pctVal>0.444014911462</pctVal>
        <payoffProfile>N/A</payoffProfile>
        <assetCat>DE</assetCat>
        <issuerCat>CORP</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>2</fairValLevel>
        <derivativeInfo>
          <optionSwaptionWarrantDeriv derivCat="OPT">
            <counterparties>
              <counterpartyName>SG Americas</counterpartyName>
              <counterpartyLei>N/A</counterpartyLei>
            </counterparties>
            <putOrCall>Put</putOrCall>
            <writtenOrPur>Purchased</writtenOrPur>
            <descRefInstrmnt>
              <otherRefInst>
                <issuerName>State Street SPDR S&amp;P 500 ETF</issuerName>
                <issueTitle>PUT State St 500 ETF 07/21/2027 P754.81</issueTitle>
                <identifiers>
                  <other otherDesc="OCC" value="SPY   270721P00754810"/>
                </identifiers>
              </otherRefInst>
            </descRefInstrmnt>
            <shareNo>475.00000000</shareNo>
            <exercisePrice>754.81000000</exercisePrice>
            <exercisePriceCurCd>USD</exercisePriceCurCd>
            <expDt>2027-07-21</expDt>
            <delta>XXXX</delta>
            <unrealizedAppr>-86920.54000000</unrealizedAppr>
          </optionSwaptionWarrantDeriv>
        </derivativeInfo>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
      <invstOrSec>
        <name>SPDR S&amp;P 500 ETF</name>
        <lei>N/A</lei>
        <title>State Street SPDR S&amp;P 500 ETF</title>
        <cusip>78462F103</cusip>
        <identifiers>
          <isin value="US78462F1030"/>
        </identifiers>
        <balance>75200.00000000</balance>
        <units>NS</units>
        <curCd>USD</curCd>
        <valUSD>56176656.00000000</valUSD>
        <pctVal>12.75403432112</pctVal>
        <payoffProfile>Long</payoffProfile>
        <assetCat>EC</assetCat>
        <issuerCat>RF</issuerCat>
        <invCountry>US</invCountry>
        <isRestrictedSec>N</isRestrictedSec>
        
        <fairValLevel>1</fairValLevel>
        <securityLending>
          <isCashCollateral>N</isCashCollateral>
          <isNonCashCollateral>N</isNonCashCollateral>
          <isLoanByFund>N</isLoanByFund>
        </securityLending>
      </invstOrSec>
    </invstOrSecs>
    <signature>
      <ncom:dateSigned>2026-08-31</ncom:dateSigned>
      <ncom:nameOfApplicant>World Funds Trust</ncom:nameOfApplicant>
      <ncom:signature>Ann MacDonald</ncom:signature>
      <ncom:signerName>Ann MacDonald</ncom:signerName>
      <ncom:title>Principal Financial Officer</ncom:title>
    </signature>
  </formData>
  <documents>XXXX</documents>
</edgarSubmission>
