Candlestick Capital Management LP historic quarter change: USA Options, Added
In put and call options, at their filed underlying value (listed in the US), over 8 quarters from 2023-12-31 to 2025-12-31, Candlestick Capital Management LP opened 96 positions, added to 23, reduced 24 and sold out of 111.
- Q3 2025: Stock DAL; Country of operation United States; Class COM NEW · Call; Shares before 3,720,900.
- Q3 2025: Stock NKE; Country of operation United States; Class CL B · Call; Shares before 406,000.
- Q3 2025: Stock AAL; Country of operation United States; Class COM · Put; Shares before 3,953,500.
- Q2 2025: Stock QQQ; Country of operation —; Class UNIT SER 1 · Put; Shares before 381,900.
Each consecutive pair of Form 13F-HR filings compared (SEC CIK 1789779), 8 quarters: Q4 2025 (2025-09-30 to 2025-12-31, filed 2026-02-12); Q3 2025 (2025-06-30 to 2025-09-30, filed 2025-11-14); Q2 2025 (2025-03-31 to 2025-06-30, filed 2025-08-14); Q1 2025 (2024-12-31 to 2025-03-31, filed 2025-05-15); Q4 2024 (2024-09-30 to 2024-12-31, filed 2025-02-14); Q3 2024 (2024-06-30 to 2024-09-30, filed 2024-11-14); Q2 2024 (2024-03-31 to 2024-06-30, filed 2024-08-14); Q1 2024 (2023-12-31 to 2024-03-31, filed 2024-05-15). 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. Only the filings held here are compared; the firm's 13F-HR filings go back to the quarter ended 2019-12-31.
| Quarter | Stock | Country of operation | Class | Shares before | Shares after | Share change | Value before | Value after | Value change | Filed |
|---|
| Q3 2025 | DAL
DELTA AIR LINES INC DEL | United States | COM NEW · Call | 3,720,900 | 5,100,800 | +1,379,900 | $182,993,862 | $289,470,400 | +$106,476,538 | 2025-11-14 |
|---|
| Q3 2025 | NKE
NIKE INC | United States | CL B · Call | 406,000 | 1,102,900 | +696,900 | $28,842,240 | $76,905,217 | +$48,062,977 | 2025-11-14 |
|---|
| Q3 2025 | AAL
AMERICAN AIRLS GROUP INC | United States | COM · Put | 3,953,500 | 4,022,200 | +68,700 | $44,358,270 | $45,209,528 | +$851,258 | 2025-11-14 |
|---|
| Q2 2025 | QQQ
INVESCO QQQ TR | | UNIT SER 1 · Put | 381,900 | 922,500 | +540,600 | $179,080,548 | $508,887,900 | +$329,807,352 | 2025-08-14 |
|---|
| Q2 2025 | SPY
SPDR S&P 500 ETF TR | | TR UNIT · Put | 381,900 | 527,200 | +145,300 | $213,631,041 | $325,730,520 | +$112,099,479 | 2025-08-14 |
|---|
| Q2 2025 | IWM
ISHARES TR | | RUSSELL 2000 ETF · Put | 636,500 | 922,500 | +286,000 | $126,975,385 | $199,066,275 | +$72,090,890 | 2025-08-14 |
|---|
| Q2 2025 | NCLH
NORWEGIAN CRUISE LINE HLDG L | United States | SHS · Call | 1,303,400 | 3,382,600 | +2,079,200 | $24,712,464 | $68,599,128 | +$43,886,664 | 2025-08-14 |
|---|
| Q2 2025 | ALK
ALASKA AIR GROUP INC | United States | COM · Call | 2,020,200 | 2,706,200 | +686,000 | $99,434,244 | $133,902,776 | +$34,468,532 | 2025-08-14 |
|---|
| Q2 2025 | HIMS
HIMS & HERS HEALTH INC | United States | COM CL A · Put | 700,100 | 1,054,300 | +354,200 | $20,687,955 | $52,556,855 | +$31,868,900 | 2025-08-14 |
|---|
| Q1 2025 | UBER
UBER TECHNOLOGIES INC | United States | COM · Put | 389,100 | 1,483,900 | +1,094,800 | $23,470,512 | $108,116,954 | +$84,646,442 | 2025-05-15 |
|---|
| Q1 2025 | DAL
DELTA AIR LINES INC DEL | United States | COM NEW · Call | 3,500,000 | 6,777,700 | +3,277,700 | $211,750,000 | $295,507,720 | +$83,757,720 | 2025-05-15 |
|---|
| Q1 2025 | LULU
LULULEMON ATHLETICA INC | | COM · Call | 107,000 | 325,900 | +218,900 | $40,917,870 | $92,249,254 | +$51,331,384 | 2025-05-15 |
|---|
| Q1 2025 | XLI
SELECT SECTOR SPDR TR | | INDL · Put | 400,000 | 509,200 | +109,200 | $52,704,000 | $66,740,844 | +$14,036,844 | 2025-05-15 |
|---|
| Q1 2025 | IWM
ISHARES TR | | RUSSELL 2000 ETF · Put | 600,000 | 636,500 | +36,500 | $132,576,000 | $126,975,385 | -$5,600,615 | 2025-05-15 |
|---|
| Q1 2025 | DECK
DECKERS OUTDOOR CORP | United States | COM · Put | 200,000 | 318,400 | +118,400 | $40,618,000 | $35,600,304 | -$5,017,696 | 2025-05-15 |
|---|
| Q1 2025 | ITB
ISHARES TR | | US HOME CONS ETF · Put | 500,000 | 509,200 | +9,200 | $51,695,000 | $48,480,932 | -$3,214,068 | 2025-05-15 |
|---|
| Q4 2024 | SPY
SPDR S&P 500 ETF TR | | TR UNIT · Put | 400,000 | 900,000 | +500,000 | $229,504,000 | $527,472,000 | +$297,968,000 | 2025-02-14 |
|---|
| Q4 2024 | DAL
DELTA AIR LINES INC DEL | United States | COM NEW · Call | 2,000,000 | 3,500,000 | +1,500,000 | $101,580,000 | $211,750,000 | +$110,170,000 | 2025-02-14 |
|---|
| Q4 2024 | LW
LAMB WESTON HLDGS INC | United States | COM · Call | 453,900 | 600,000 | +146,100 | $29,385,486 | $40,098,000 | +$10,712,514 | 2025-02-14 |
|---|
| Q3 2024 | DAL
DELTA AIR LINES INC DEL | United States | COM NEW · Call | 750,000 | 2,000,000 | +1,250,000 | $35,580,000 | $101,580,000 | +$66,000,000 | 2024-11-14 |
|---|
| Q3 2024 | UAL
UNITED AIRLS HLDGS INC | United States | COM · Call | 1,300,000 | 1,750,000 | +450,000 | $63,258,000 | $99,855,000 | +$36,597,000 | 2024-11-14 |
|---|
| Q3 2024 | LW
LAMB WESTON HLDGS INC | United States | COM · Call | 200,000 | 453,900 | +253,900 | $16,816,000 | $29,385,486 | +$12,569,486 | 2024-11-14 |
|---|
| Q1 2024 | ENPH
ENPHASE ENERGY INC | United States | COM · Put | 100,000 | 150,000 | +50,000 | $13,214,000 | $18,147,000 | +$4,933,000 | 2024-05-15 |
|---|