Wolverine Trading, LLC
Wolverine Trading, LLC is a Chicago-based proprietary trading and broker-dealer firm founded in 1994. The firm is known for its expertise in market making, options, and valuation arbitrage, operating in global financial markets. It employs a diverse staff of finance professionals, technologists, and quantitative researchers, and primarily serves institutional clients, exchanges, and liquidity seekers.
Investment Strategy
Wolverine Trading, LLC deploys quantitative and proprietary trading strategies focused on market making and valuation arbitrage opportunities across global markets. The firm's philosophy emphasizes innovation, technology-driven trading, and risk management, seeking to efficiently price and hedge securities—including derivatives and options—while leveraging advanced analytics and automation.
Top Holdings
Equity Positions (1,166)
| Ticker | Security | Weight | Market Value | Shares | Avg Cost | Price | Change (QoQ) |
|---|---|---|---|---|---|---|---|
S SPY | SPDR S&P 500 ETF TR | 0.87% | $865.7M | 1,407,826 | $587.74 | $617.85 | +$689.8M |
D DIA | SPDR DOW JONES INDL AVERAGE | 0.24% | $242.2M | 552,877 | $422.91 | $440.65 | +$137.6M |
M MSFT | MICROSOFT CORP | 0.17% | $166.5M | 335,792 | $469.73 | $497.41 | +$137.6M |
I IYR | ISHARES TR | 0.13% | $125.0M | 1,327,716 | $89.50 | $94.77 | +$23.2M |
N NVDA | NVIDIA CORPORATION | 0.12% | $121.3M | 768,650 | $65.89 | $157.99 | +$53.8M |
Options Positions (10)
| Ticker | Security | Action | Type | Notional Value | Contracts | Underlying Price | Premium Paid | Change (Contracts) | Change (Value) |
|---|---|---|---|---|---|---|---|---|---|
S SPY | SPDR S&P 500 ETF TR | Bought | Put | $9.11B | 148,154 | $617.85 | $469.26 | +21,344 | +$2.06B |
S SPY | SPDR S&P 500 ETF TR | Bought | Call | $5.35B | 87,026 | $617.85 | $475.72 | +20,586 | +$1.66B |
N NVDA | NVIDIA CORPORATION | Sold | Call | $3.88B | 245,748 | $157.99 | $40.71 | -23,654 | +$922.1M |
M META | META PLATFORMS INC | Sold | Call | $3.34B | 45,571 | $738.09 | $296.40 | -516 | +$685.2M |
T TSLA | TESLA INC | Sold | Call | $3.29B | 101,665 | $317.66 | $216.31 | -641 | +$593.9M |