Marathon Trading Investment Management LLC Q3 2025 Filing

Filed November 13, 2025

Portfolio Value

$1.5B

Holdings

307

Report Date

Q3 2025

Filing Type

13F-HR

All Holdings (307 positions)

#	Stock	Shares	Value	% Portfolio	Type
1	SLVISHARES SILVER TR	5,261,100	$222.9M	15.34%	Call
2	SLVISHARES SILVER TR	4,740,000	$200.8M	13.82%	Put
3	TSLATESLA INC	251,500	$111.8M	7.70%	Call
4	WOLFWOLFSPEED INC	3,123,400	$89.3M	6.15%	Call
5	GLDSPDR GOLD TR	190,000	$67.5M	4.65%	Call
6	TSLATESLA INC	119,000	$52.9M	3.64%	Put
7	GQ9SPDR GOLD TR	100,549	$35.7M	2.46%
8	—KRANESHARES TRUST	651,500	$27.4M	1.88%	Call
9	AMZNAMAZON COM INC	111,200	$24.4M	1.68%	Put
10	JDJD.COM INC	680,400	$23.8M	1.64%	Put
11	AMZNAMAZON COM INC	99,200	$21.8M	1.50%
12	GLDSPDR GOLD TR	60,000	$21.3M	1.47%	Put
13	BACBANK AMERICA CORP	360,000	$18.6M	1.28%	Put
14	PDDPDD HOLDINGS INC	137,500	$18.2M	1.25%	Put
15	NVDANVIDIA CORPORATION	95,700	$17.9M	1.23%	Put
16	BACBANK AMERICA CORP	330,013	$17.0M	1.17%
17	JDJD.COM INC	449,764	$15.7M	1.08%
18	WOLFWOLFSPEED INC	507,700	$14.5M	1.00%	Put
19	—ALIBABA GROUP HLDG LTD	76,500	$13.7M	0.94%	Call
20	PLTRPALANTIR TECHNOLOGIES INC	73,800	$13.5M	0.93%	Put
21	RDDTREDDIT INC	56,800	$13.1M	0.90%	Put
22	IBITISHARES BITCOIN TRUST ETF	191,700	$12.5M	0.86%	Call
23	—ALIBABA GROUP HLDG LTD	68,400	$12.2M	0.84%	Put
24	MSTRSTRATEGY INC	33,100	$10.7M	0.73%	Call
25	—JD.COM INC	266,600	$9.3M	0.64%	Call
26	MSFTMICROSOFT CORP	17,700	$9.2M	0.63%	Call
27	—SIRIUSXM HOLDINGS INC	391,200	$9.1M	0.63%	Call
28	KWEBKRANESHARES TRUST	210,717	$8.9M	0.61%
29	MSTRSTRATEGY INC	26,000	$8.4M	0.58%	Put
30	NDQINVESCO QQQ TR	13,900	$8.3M	0.57%
31	WBDWARNER BROS DISCOVERY INC	412,326	$8.1M	0.55%
32	—KRANESHARES TRUST	190,200	$8.0M	0.55%	Put
33	SPYSPDR S&P 500 ETF TR	11,875	$7.9M	0.54%
34	GEVGE VERNOVA INC	12,500	$7.7M	0.53%	Call
35	CRWVCOREWEAVE INC	56,138	$7.7M	0.53%
36	BABAALIBABA GROUP HLDG LTD	40,874	$7.3M	0.50%
37	—VANECK ETF TRUST	75,900	$7.3M	0.50%	Put
38	PDDPDD HOLDINGS INC	53,900	$7.1M	0.49%	Call
39	WFCWELLS FARGO CO NEW	84,467	$7.1M	0.49%
40	IBITISHARES BITCOIN TRUST ETF	94,967	$6.2M	0.42%
41	STTSPDR S&P 500 ETF TR	8,900	$5.9M	0.41%	Call
42	XLFISELECT SECTOR SPDR TR	100,000	$5.4M	0.37%	Put
43	INTCINTEL CORP	158,800	$5.3M	0.37%	Put
44	PDDPDD HOLDINGS INC	39,886	$5.3M	0.36%
45	INTCINTEL CORP	156,780	$5.3M	0.36%
46	CORZCORE SCIENTIFIC INC NEW	288,900	$5.2M	0.36%	Call
47	—COREWEAVE INC	32,500	$4.4M	0.31%	Put
48	INTCINTEL CORP	130,800	$4.4M	0.30%	Call
49	ARKTARK ETF TR	49,400	$4.3M	0.29%	Call
50	COINCOINBASE GLOBAL INC	12,500	$4.2M	0.29%	Call
51	WFCWELLS FARGO CO NEW	50,300	$4.2M	0.29%	Put
52	AAPLAPPLE INC	16,500	$4.2M	0.29%	Put
53	WFCWELLS FARGO CO NEW	50,100	$4.2M	0.29%	Call
54	CORZCORE SCIENTIFIC INC NEW	232,938	$4.2M	0.29%
55	DYHTARGET CORP	45,049	$4.0M	0.28%
56	—AMAZON COM INC	18,100	$4.0M	0.27%	Call
57	ARMARM HOLDINGS PLC	27,200	$3.8M	0.26%	Call
58	GEVGE VERNOVA INC	6,000	$3.7M	0.25%	Put
59	CORZCORE SCIENTIFIC INC NEW	200,300	$3.6M	0.25%	Put
60	AAPLAPPLE INC	14,000	$3.6M	0.25%	Call
61	MUMICRON TECHNOLOGY INC	20,400	$3.4M	0.23%	Put
62	IRENIREN LIMITED	70,300	$3.3M	0.23%	Call
63	—BROADCOM INC	10,000	$3.3M	0.23%	Put
64	NVDANVIDIA CORPORATION	17,500	$3.3M	0.22%	Call
65	WBDWARNER BROS DISCOVERY INC	166,700	$3.3M	0.22%	Put
66	TSMTAIWAN SEMICONDUCTOR MFG LTD	11,600	$3.2M	0.22%	Put
67	IBITISHARES BITCOIN TRUST ETF	49,100	$3.2M	0.22%	Put
68	PLTRPALANTIR TECHNOLOGIES INC	17,465	$3.2M	0.22%
69	NBISNEBIUS GROUP N.V.	28,200	$3.2M	0.22%	Call
70	BAC 7.25 PERP LBANK AMERICA CORP	2,464	$3.2M	0.22%
71	IRENIREN LIMITED	64,300	$3.0M	0.21%	Put
72	MIGASTRATEGY INC	8,380	$2.7M	0.19%
73	PCGPG&E CORP	175,000	$2.6M	0.18%	Call
74	AMDADVANCED MICRO DEVICES INC	16,100	$2.6M	0.18%	Call
75	SPYSPDR S&P 500 ETF TR	3,900	$2.6M	0.18%	Put
76	ORCLORACLE CORP	9,000	$2.5M	0.17%	Call
77	GOOGLALPHABET INC	10,000	$2.4M	0.17%	Put
78	LULULULULEMON ATHLETICA INC	13,500	$2.4M	0.17%
79	—GAMESTOP CORP NEW	85,100	$2.3M	0.16%	Call
80	TSMTAIWAN SEMICONDUCTOR MFG LTD	8,300	$2.3M	0.16%	Call
81	XOMEXXON MOBIL CORP	20,200	$2.3M	0.16%	Call
82	MUMICRON TECHNOLOGY INC	13,300	$2.2M	0.15%	Call
83	—META PLATFORMS INC	3,000	$2.2M	0.15%	Call
84	—ISHARES ETHEREUM TR	65,000	$2.0M	0.14%	Call
85	AQLTISHARES TR	25,200	$2.0M	0.14%	Put
86	—ISHARES INC	25,000	$2.0M	0.14%	Call
87	ENVXENOVIX CORPORATION	200,423	$2.0M	0.14%
88	FIGFIGMA INC	37,811	$2.0M	0.14%
89	CMGCHIPOTLE MEXICAN GRILL INC	43,841	$1.7M	0.12%
90	ARMARM HOLDINGS PLC	11,939	$1.7M	0.12%
91	XLBSELECT SECTOR SPDR TR	18,000	$1.6M	0.11%
92	SOFISOFI TECHNOLOGIES INC	59,900	$1.6M	0.11%
93	UPSUNITED PARCEL SERVICE INC	18,400	$1.5M	0.11%
94	WBDWARNER BROS DISCOVERY INC	75,100	$1.5M	0.10%	Call
95	BMNRBITMINE IMMERSION TECNOLOGIE	26,941	$1.4M	0.10%
96	COINCOINBASE GLOBAL INC	4,000	$1.3M	0.09%	Put
97	LVLNSPDR SERIES TRUST	20,812	$1.3M	0.09%
98	MRKMERCK & CO INC	15,121	$1.3M	0.09%
99	FLRFLUOR CORP NEW	29,878	$1.3M	0.09%
100	STUBSTUBHUB HLDGS INC	74,300	$1.3M	0.09%

Page 1 of 4Next