A person familiar with Citadel Securities told CoinDesk that the filing is a result of the firm’s options market making activities rather than a directional investment or stake in Silvergate. Citadel Securities makes markets in more than a million individual options at any time. For 13G filings, options positions are calculated based on long call positions, regardless of any offsetting short calls or puts, explained the person.
Source: https://www.coindesk.com/business/2023/02/14/ken-griffins-citadel-discloses-55-silvergate-stake/?utm_medium=referral&utm_source=rss&utm_campaign=headlines