Laurion Capital Management LP Q3 2022 vs. Q4 2022: A Deep Dive into 13F Holdings

Laurion Capital Management LP, a well-known hedge fund firm, recently filed its 13F report for Q3 2022 and Q4 2022. The report highlights the firm's holdings as of the end of each quarter and provides valuable insights into its investment strategy. In this article, we'll analyze the changes in Laurion Capital's holdings and explore the possible reasons behind these changes.

JPMorgan Chase & Co: A Major Put Option

Laurion Capital added a large put option on JPMorgan Chase & Co, increasing its share by over 100%. The firm held 2,732,100 shares in Q3 2022, and this number rose to 5,797,600 shares in Q4 2022. The value of these shares also increased from $285,504 to $777,458 (an increase of 172.3%). The reason behind this move is not clear, but it suggests that the firm may be bearish on the bank's prospects.

Microsoft Corp: An Increase in Put and Call Options

Laurion Capital increased its put option on Microsoft Corp by 9.1%, from 2,202,600 shares to 2,397,500 shares. At the same time, the firm added call options on the same stock, increasing its share from 1,147,300 to 1,207,100. The value of these shares increased from $512,986 to $574,968 (an increase of 12.1%). This move suggests that Laurion Capital may be hedging its position on Microsoft.

Amazon Com Inc: Large Moves in Both Put and Call Options

Laurion Capital made significant changes to its holdings in Amazon Com Inc. The firm increased its put option by 85.2%, from 3,454,600 shares to 6,398,300 shares and added call options of 3,639,800 shares. The value of these shares increased from $390,371 to $537,457 (an increase of 37.7%). These moves could be an indication of Laurion Capital's mixed sentiment towards Amazon Com Inc.

Apple Inc: Major Increase in Put and Call Options

Laurion Capital made significant investments in Apple Inc, increasing both its put and call options. The firm added 1,409,800 shares of put options, increasing its share from 2,462,300 to 3,871,100, a 57.2% increase in shares. At the same time, Laurion Capital added 936,400 shares of call options, increasing its share from 2,184,800 to 3,121,200. The increased investments in Apple Inc by Laurion Capital generally indicate that the hedge firm is bullish about the future of the tech giant.

Conclusion

Laurion Capital Management's 13F filing for Q3 2022 and Q4 2022 reveals that it has made significant moves in the options market on high-value stocks, including JPMorgan Chase & Co, Microsoft Corp, Amazon Com Inc, and Apple Inc. The reasons behind these moves are not entirely clear, but it's possible that they are part of Laurion Capital's strategy to hedge its positions in these stocks. Regardless of the motivations behind these moves, they reflect that the hedge fund is not staying idle in the markets and is adjusting to market changes.