BANK OF MONTREAL /CAN/ Last Quarter Change: USA Options, New

BANK OF MONTREAL /CAN/ quarter change: USA Options, New

In put and call options, at their filed underlying value (listed in the US), from the quarter ended 2026-03-31 to 2026-06-30, BANK OF MONTREAL /CAN/ opened 127 positions, added to 111, reduced 142, sold out of 144 and left 116 unchanged. The largest increase in value was QQQ (+$2,852,445,400); the largest decrease was NVDA (-$956,925,456).

QQQ: Country of operation —; Class UNIT SER 1 · Put; Shares 2026-03-31 0; Shares 2026-06-30 3,873,500.
QQQ: Country of operation —; Class UNIT SER 1 · Call; Shares 2026-03-31 0; Shares 2026-06-30 1,444,500.
COPX: Country of operation —; Class GLOBAL X COPPER · Call; Shares 2026-03-31 0; Shares 2026-06-30 5,778,200.
XLB: Country of operation —; Class ST STR MATER ETF · Call; Shares 2026-03-31 0; Shares 2026-06-30 8,700,500.

Two Form 13F-HR filings compared (SEC CIK 927971): 2026-03-31 (filed 2026-05-13) and 2026-06-30 (filed 2026-08-12). Rows for the same security, class and put/call are added together. Value change is the filed value at each quarter end, so it includes the price move; share change is the position change.

Stock	Country of operation	Class	Shares 2026-06-30	Share change	Value 2026-03-31	Value 2026-06-30	Value change
QQQ INVESCO QQQ TR		UNIT SER 1 · Put	3,873,500	+3,873,500	$0	$2,852,445,400	+$2,852,445,400
QQQ INVESCO QQQ TR		UNIT SER 1 · Call	1,444,500	+1,444,500	$0	$1,063,729,800	+$1,063,729,800
COPX GLOBAL X FDS		GLOBAL X COPPER · Call	5,778,200	+5,778,200	$0	$444,748,054	+$444,748,054
XLB SELECT SECTOR SPDR TR		ST STR MATER ETF · Call	8,700,500	+8,700,500	$0	$442,246,415	+$442,246,415
KRE SPDR SERIES TRUST		ST STR SP REGBNK · Call	5,624,800	+5,624,800	$0	$421,016,280	+$421,016,280
MTUM ISHARES TR		MSCI USA MMENTM · Put	900,000	+900,000	$0	$308,547,000	+$308,547,000
GLD SPDR GOLD TR	United States	GOLD SHS · Put	834,600	+834,600	$0	$307,449,948	+$307,449,948
KBE SPDR SERIES TRUST		ST STR SP BANK · Put	3,500,000	+3,500,000	$0	$238,770,000	+$238,770,000
GLD SPDR GOLD TR	United States	GOLD SHS · Call	614,700	+614,700	$0	$226,443,186	+$226,443,186
XLF SELECT SECTOR SPDR TR		ST STR FINL ETF · Put	2,650,000	+2,650,000	$0	$142,066,500	+$142,066,500
COHR COHERENT CORP	United States	COM · Put	338,000	+338,000	$0	$133,330,860	+$133,330,860
AMAT APPLIED MATLS INC	United States	COM · Put	90,000	+90,000	$0	$65,070,000	+$65,070,000
KRE SPDR SERIES TRUST		ST STR SP REGBNK · Put	731,500	+731,500	$0	$54,752,775	+$54,752,775
ACWI ISHARES TR		MSCI ACWI ETF · Call	325,000	+325,000	$0	$51,015,250	+$51,015,250
XLE SELECT SECTOR SPDR TR		ST STR ENERG ETF · Put	950,000	+950,000	$0	$50,454,500	+$50,454,500
XOP SPDR SERIES TRUST		SP O&G EXPL PRO · Put	300,000	+300,000	$0	$46,278,000	+$46,278,000
DRAM ROUNDHILL ETF TRUST		MEMORY ETF · Put	492,400	+492,400	$0	$36,363,740	+$36,363,740
XLE SELECT SECTOR SPDR TR		ST STR ENERG ETF · Call	680,000	+680,000	$0	$36,114,800	+$36,114,800
LUNR INTUITIVE MACHINES INC	United States	CLASS A COM · Put	1,490,000	+1,490,000	$0	$31,871,100	+$31,871,100
SPCX SPACE EXPLORATION TECHN CORP		CLASS A COM STK · Put	139,500	+139,500	$0	$23,834,970	+$23,834,970
MGNI MAGNITE INC	United States	COM · Call	740,000	+740,000	$0	$14,045,200	+$14,045,200
EEM ISHARES TR		MSCI EMG MKT ETF · Put	200,000	+200,000	$0	$13,682,000	+$13,682,000
CHKP CHECK POINT SOFTWARE TECH LT		ORD · Put	90,000	+90,000	$0	$11,828,700	+$11,828,700
NTR NUTRIEN LTD		COM · Call	181,900	+181,900	$0	$11,448,254	+$11,448,254
LQD ISHARES TR		IBOXX INV CP ETF · Put	100,000	+100,000	$0	$10,907,000	+$10,907,000
ORCL ORACLE CORP	United States	COM · Put	72,400	+72,400	$0	$10,610,220	+$10,610,220
LULU LULULEMON ATHLETICA INC		COM · Call	80,000	+80,000	$0	$9,134,400	+$9,134,400
MU MICRON TECHNOLOGY INC	United States	COM · Call	7,800	+7,800	$0	$9,003,462	+$9,003,462
TGT TARGET CORP	United States	COM · Call	68,700	+68,700	$0	$8,972,907	+$8,972,907
LYV LIVE NATION ENTERTAINMENT IN	United States	COM · Call	45,000	+45,000	$0	$8,239,950	+$8,239,950
POET POET TECHNOLOGIES INC		COM NEW · Put	795,000	+795,000	$0	$8,172,600	+$8,172,600
TRI THOMSON REUTERS CORP	Canada	COM · Put	100,000	+100,000	$0	$8,159,631	+$8,159,631
EPD ENTERPRISE PRODS PARTNERS L	United States	COM · Call	221,900	+221,900	$0	$8,157,044	+$8,157,044
BAM BROOKFIELD ASSET MANAGMT LTD	United States	CL A LMT VTG SHS · Put	178,900	+178,900	$0	$8,017,076	+$8,017,076
QSR RESTAURANT BRANDS INTL INC		COM · Put	102,500	+102,500	$0	$7,427,191	+$7,427,191
WPM WHEATON PRECIOUS METALS CORP		COM · Put	66,000	+66,000	$0	$7,416,953	+$7,416,953
CIEN CIENA CORP	United States	COM NEW · Call	15,000	+15,000	$0	$7,358,400	+$7,358,400
LCII LCI INDS	United States	COM · Put	65,000	+65,000	$0	$6,882,200	+$6,882,200
EWJ ISHARES INC		MSCI JAPAN ETF · Call	70,000	+70,000	$0	$6,528,900	+$6,528,900
CIEN CIENA CORP	United States	COM NEW · Put	12,500	+12,500	$0	$6,132,000	+$6,132,000
MOH MOLINA HEALTHCARE INC	United States	COM · Put	25,000	+25,000	$0	$5,717,500	+$5,717,500
GIL GILDAN ACTIVEWEAR INC		COM · Put	100,000	+100,000	$0	$5,150,485	+$5,150,485
DKNG DRAFTKINGS INC NEW	United States	COM CL A · Put	200,000	+200,000	$0	$5,052,000	+$5,052,000
IONS IONIS PHARMACEUTICALS INC	United States	COM · Call	62,400	+62,400	$0	$4,947,696	+$4,947,696
XLU SELECT SECTOR SPDR TR		ST STR UTIL ETF · Put	100,000	+100,000	$0	$4,534,000	+$4,534,000
HPE HEWLETT PACKARD ENTERPRISE C	United States	COM · Call	100,000	+100,000	$0	$4,511,000	+$4,511,000
CTVA CORTEVA INC	United States	COM · Put	53,000	+53,000	$0	$4,488,570	+$4,488,570
SPCX SPACE EXPLORATION TECHN CORP		CLASS A COM STK · Call	25,500	+25,500	$0	$4,356,930	+$4,356,930
RSP INVESCO EXCHANGE TRADED FD T		S&P500 EQL WGT · Call	20,000	+20,000	$0	$4,255,400	+$4,255,400
MSI MOTOROLA SOLUTIONS INC	United States	COM NEW · Call	8,800	+8,800	$0	$3,654,552	+$3,654,552
LNG CHENIERE ENERGY INC	United States	COM NEW · Call	15,000	+15,000	$0	$3,585,150	+$3,585,150
WMB WILLIAMS COS INC	United States	COM · Call	48,000	+48,000	$0	$3,568,320	+$3,568,320
BX BLACKSTONE INC	United States	COM · Put	30,000	+30,000	$0	$3,530,100	+$3,530,100
USAR USA RARE EARTH INC	United States	COM · Call	150,000	+150,000	$0	$3,237,000	+$3,237,000
ABCL ABCELLERA BIOLOGICS INC		COM · Put	403,100	+403,100	$0	$3,164,335	+$3,164,335
SCI SERVICE CORP INTL	United States	COM · Call	41,200	+41,200	$0	$3,129,552	+$3,129,552
FLNC FLUENCE ENERGY INC	United States	COM CL A · Put	150,000	+150,000	$0	$2,982,000	+$2,982,000
PLD PROLOGIS INC.	United States	COM · Put	19,600	+19,600	$0	$2,655,212	+$2,655,212
PLD PROLOGIS INC.	United States	COM · Call	19,500	+19,500	$0	$2,641,665	+$2,641,665
MGNI MAGNITE INC	United States	COM · Put	135,000	+135,000	$0	$2,562,300	+$2,562,300
BIP BROOKFIELD INFRASTRUCTURE PA		LP INT UNIT · Call	70,000	+70,000	$0	$2,554,300	+$2,554,300
IMAX IMAX CORP		COM · Call	56,000	+56,000	$0	$2,232,160	+$2,232,160
MARA MARA HOLDINGS INC	United States	COM · Call	150,000	+150,000	$0	$2,083,500	+$2,083,500
COLD AMERICOLD REALTY TRUST INC	United States	COM · Put	129,800	+129,800	$0	$2,040,456	+$2,040,456
XP XP INC		CL A · Call	116,900	+116,900	$0	$1,900,794	+$1,900,794
CAE CAE INC		COM · Put	75,000	+75,000	$0	$1,875,961	+$1,875,961
ABNB AIRBNB INC	United States	COM CL A · Put	12,000	+12,000	$0	$1,717,200	+$1,717,200
CYTK CYTOKINETICS INC	United States	COM NEW · Put	20,000	+20,000	$0	$1,703,800	+$1,703,800
SCI SERVICE CORP INTL	United States	COM · Put	21,800	+21,800	$0	$1,655,928	+$1,655,928
CVS CVS HEALTH CORP	United States	COM · Put	12,500	+12,500	$0	$1,293,125	+$1,293,125
CVS CVS HEALTH CORP	United States	COM · Call	12,500	+12,500	$0	$1,293,125	+$1,293,125
APP APPLOVIN CORP	United States	COM CL A · Put	2,500	+2,500	$0	$1,288,075	+$1,288,075
APP APPLOVIN CORP	United States	COM CL A · Call	2,500	+2,500	$0	$1,288,075	+$1,288,075
FR FIRST INDL RLTY TR INC	United States	COM · Call	21,000	+21,000	$0	$1,287,510	+$1,287,510
IREN IREN LIMITED		ORDINARY SHARES · Call	24,500	+24,500	$0	$1,120,385	+$1,120,385
REGN REGENERON PHARMACEUTICALS	United States	COM · Call	1,700	+1,700	$0	$1,060,018	+$1,060,018
XOVR ENTREPRENEURSHARES SERIES TR		ERSH PRI PUB ETF · Put	45,400	+45,400	$0	$955,670	+$955,670
REGN REGENERON PHARMACEUTICALS	United States	COM · Put	1,400	+1,400	$0	$872,956	+$872,956
CHWY CHEWY INC	United States	CL A · Put	43,500	+43,500	$0	$854,775	+$854,775
KEEL KEEL INFRASTRUCTURE CORP		COM SHS · Put	135,900	+135,900	$0	$780,066	+$780,066
SLG SL GREEN RLTY CORP	United States	COM · Put	14,400	+14,400	$0	$745,488	+$745,488
ELF E L F BEAUTY INC	United States	COM · Put	10,000	+10,000	$0	$740,000	+$740,000
FE FIRSTENERGY CORP	United States	COM · Call	14,100	+14,100	$0	$670,314	+$670,314
CCL CARNIVAL CORP LTD	United States	COMMON SHARES · Put	23,000	+23,000	$0	$657,110	+$657,110
CCL CARNIVAL CORP LTD	United States	COMMON SHARES · Call	23,000	+23,000	$0	$657,110	+$657,110
UHS UNIVERSAL HLTH SVCS INC	United States	CL B · Put	4,000	+4,000	$0	$594,760	+$594,760
OKE ONEOK INC NEW	United States	COM · Call	6,700	+6,700	$0	$582,498	+$582,498
XLU SELECT SECTOR SPDR TR		ST STR UTIL ETF · Call	12,500	+12,500	$0	$566,750	+$566,750
SBUX STARBUCKS CORP	United States	COM · Call	5,300	+5,300	$0	$541,607	+$541,607
SBUX STARBUCKS CORP	United States	COM · Put	5,100	+5,100	$0	$521,169	+$521,169
CIGI COLLIERS INTL GROUP INC		SUB VTG SHS · Put	5,500	+5,500	$0	$515,609	+$515,609
BKNG BOOKING HOLDINGS INC	United States	COM · Call	2,800	+2,800	$0	$499,072	+$499,072
CSGP COSTAR GROUP INC	United States	COM · Call	15,600	+15,600	$0	$441,792	+$441,792
IBIT ISHARES BITCOIN TRUST ETF		SHS BEN INT · Put	12,900	+12,900	$0	$429,441	+$429,441
BLDP BALLARD PWR SYS INC NEW		COM · Call	110,000	+110,000	$0	$428,479	+$428,479
CSGP COSTAR GROUP INC	United States	COM · Put	14,700	+14,700	$0	$416,304	+$416,304
CONL GRANITESHARES ETF TR		2X LONG COIN ETF · Put	92,500	+92,500	$0	$394,975	+$394,975
ON ON SEMICONDUCTOR CORP	United States	COM · Put	4,000	+4,000	$0	$378,160	+$378,160
QXO QXO INC	United States	COM NEW · Call	21,000	+21,000	$0	$362,880	+$362,880
OKE ONEOK INC NEW	United States	COM · Put	3,700	+3,700	$0	$321,678	+$321,678

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