Options in 13Fs

Why option positions are shown separately and never netted.

13F option rows report the market value and the shares underlying a listed option position, flagged Put or Call — but not strike, expiry, or whether the option was bought or written. A reported put can be a hedge, a spread leg, or a bullish put-writing program; the form cannot distinguish them.

Therefore, on this site:

• Option positions are never netted against share positions and never combined with them in any statistic.
• All aggregate ownership analytics (holder counts, buying/selling, consensus, momentum, conviction) are computed from common-stock positions only.
• Option lines appear in their own labeled section of manager pages, with put and call notionals shown separately.
• No directional interpretation is ever attached to an option line.

制限事項

Because direction is unknowable from the form, option data here is descriptive only. See the Learn guide on options in 13Fs.