<?xml version="1.0" ?>
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  <infoTable>
    <nameOfIssuer>ADVANCED ENERGY INDS</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>007973100</cusip>
    <value>894779</value>
    <shrsOrPrnAmt>
      <sshPrnamt>3175</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>3175</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AKAMAI TECHNOLOGIES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00971T101</cusip>
    <value>40476810</value>
    <shrsOrPrnAmt>
      <sshPrnamt>380600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>380600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>AKAMAI TECHNOLOGIES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>00971T101</cusip>
    <value>7066107</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66442</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>66442</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALBEMARLE CORP</nameOfIssuer>
    <titleOfClass>7.25% DEP SHS A</titleOfClass>
    <cusip>012653200</cusip>
    <value>1859350</value>
    <shrsOrPrnAmt>
      <sshPrnamt>41000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>41000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALBEMARLE CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>012653101</cusip>
    <value>5870050</value>
    <shrsOrPrnAmt>
      <sshPrnamt>55493</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>55493</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALBEMARLE CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>012653101</cusip>
    <value>38905884</value>
    <shrsOrPrnAmt>
      <sshPrnamt>367800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>367800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALIBABA GROUP HLDG LTD</nameOfIssuer>
    <titleOfClass>SPONSORED ADS</titleOfClass>
    <cusip>01609W102</cusip>
    <value>168429148</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1566200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1566200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALIBABA GROUP HLDG LTD</nameOfIssuer>
    <titleOfClass>SPONSORED ADS</titleOfClass>
    <cusip>01609W102</cusip>
    <value>73516710</value>
    <shrsOrPrnAmt>
      <sshPrnamt>683622</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>683622</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALNYLAM PHARMACEUTICALS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>02043Q107</cusip>
    <value>7065893</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28637</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>28637</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALNYLAM PHARMACEUTICALS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>02043Q107</cusip>
    <value>14730378</value>
    <shrsOrPrnAmt>
      <sshPrnamt>59700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>59700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALPHABET INC</nameOfIssuer>
    <titleOfClass>CAP STK CL C</titleOfClass>
    <cusip>02079K107</cusip>
    <value>19422180</value>
    <shrsOrPrnAmt>
      <sshPrnamt>57000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>57000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ALPHABET INC</nameOfIssuer>
    <titleOfClass>DEP SHS RP1/20 B</titleOfClass>
    <cusip>02079K602</cusip>
    <value>4866500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>100000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ARES MANAGEMENT CORPORATION</nameOfIssuer>
    <titleOfClass>CL A COM STK</titleOfClass>
    <cusip>03990B101</cusip>
    <value>580850</value>
    <shrsOrPrnAmt>
      <sshPrnamt>5000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>5000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ARES MANAGEMENT CORPORATION</nameOfIssuer>
    <titleOfClass>6.75 SE B PFD</titleOfClass>
    <cusip>03990B309</cusip>
    <value>1540097</value>
    <shrsOrPrnAmt>
      <sshPrnamt>40250</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>40250</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BLACKLINE INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>09239B109</cusip>
    <value>7112693</value>
    <shrsOrPrnAmt>
      <sshPrnamt>268100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>268100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BOEING CO</nameOfIssuer>
    <titleOfClass>DEP CONV PFD A</titleOfClass>
    <cusip>097023204</cusip>
    <value>5901500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>100000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>BOEING CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>097023105</cusip>
    <value>23293460</value>
    <shrsOrPrnAmt>
      <sshPrnamt>125200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>125200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CLOUDFLARE INC</nameOfIssuer>
    <titleOfClass>CL A COM</titleOfClass>
    <cusip>18915M107</cusip>
    <value>26372096</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75939</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>75939</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>CLOUDFLARE INC</nameOfIssuer>
    <titleOfClass>CL A COM</titleOfClass>
    <cusip>18915M107</cusip>
    <value>39277368</value>
    <shrsOrPrnAmt>
      <sshPrnamt>113100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>113100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>COMPASS INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>20464U100</cusip>
    <value>9768000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1100000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>COREWEAVE INC</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>21873S108</cusip>
    <value>7840800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>90000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>90000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ENOVIS CORPORATION</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>194014502</cusip>
    <value>10103310</value>
    <shrsOrPrnAmt>
      <sshPrnamt>553000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>553000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EVERGY INC</nameOfIssuer>
    <titleOfClass>NOTE 4.500%12/1</titleOfClass>
    <cusip>30034WAD8</cusip>
    <value>20251590</value>
    <shrsOrPrnAmt>
      <sshPrnamt>15800000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>15800000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>EVERGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>30034W106</cusip>
    <value>2376732</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>30300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRSTENERGY CORP</nameOfIssuer>
    <titleOfClass>NOTE 3.875% 1/1</titleOfClass>
    <cusip>337932AV9</cusip>
    <value>17158564</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16600000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>16600000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FIRSTENERGY CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>337932107</cusip>
    <value>17639643</value>
    <shrsOrPrnAmt>
      <sshPrnamt>407100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>407100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLUOR CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>343412102</cusip>
    <value>5723096</value>
    <shrsOrPrnAmt>
      <sshPrnamt>119530</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>119530</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>FLUOR CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>343412102</cusip>
    <value>16250472</value>
    <shrsOrPrnAmt>
      <sshPrnamt>339400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>339400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL PMTS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>37940X102</cusip>
    <value>22050900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>270000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>270000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GLOBAL PMTS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>37940X102</cusip>
    <value>2425599</value>
    <shrsOrPrnAmt>
      <sshPrnamt>29700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>29700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>GUARDANT HEALTH INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>40131M109</cusip>
    <value>16908528</value>
    <shrsOrPrnAmt>
      <sshPrnamt>94800</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>94800</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HEWLETT PACKARD ENTERPRISE C</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>42824C109</cusip>
    <value>557312</value>
    <shrsOrPrnAmt>
      <sshPrnamt>8723</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>8723</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>HEWLETT PACKARD ENTERPRISE C</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>42824C109</cusip>
    <value>1820865</value>
    <shrsOrPrnAmt>
      <sshPrnamt>28500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>28500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>IREN LIMITED</nameOfIssuer>
    <titleOfClass>ORDINARY SHARES</titleOfClass>
    <cusip>Q4982L109</cusip>
    <value>195079360</value>
    <shrsOrPrnAmt>
      <sshPrnamt>4772000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>4772000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES INC</nameOfIssuer>
    <titleOfClass>MSCI STH KOR ETF</titleOfClass>
    <cusip>464286772</cusip>
    <value>4569500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>25000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>25000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>20 YR TR BD ETF</titleOfClass>
    <cusip>464287432</cusip>
    <value>5833500</value>
    <shrsOrPrnAmt>
      <sshPrnamt>75000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>75000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>CHINA LG-CAP ETF</titleOfClass>
    <cusip>464287184</cusip>
    <value>6368544</value>
    <shrsOrPrnAmt>
      <sshPrnamt>187200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>187200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>CHINA LG-CAP ETF</titleOfClass>
    <cusip>464287184</cusip>
    <value>1020600</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>30000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ISHARES TR</nameOfIssuer>
    <titleOfClass>20 YR TR BD ETF</titleOfClass>
    <cusip>464287432</cusip>
    <value>7000200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>90000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>90000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>ITRON INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>465741106</cusip>
    <value>15515298</value>
    <shrsOrPrnAmt>
      <sshPrnamt>179700</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>179700</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ITRON INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>465741106</cusip>
    <value>847254</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9813</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9813</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>KRANESHARES TRUST</nameOfIssuer>
    <titleOfClass>CSI CHI INTERNET</titleOfClass>
    <cusip>500767306</cusip>
    <value>7340745</value>
    <shrsOrPrnAmt>
      <sshPrnamt>299500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>299500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>KRANESHARES TRUST</nameOfIssuer>
    <titleOfClass>CSI CHI INTERNET</titleOfClass>
    <cusip>500767306</cusip>
    <value>2451000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>100000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>100000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>LIVE NATION ENTERTAINMENT IN</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>538034109</cusip>
    <value>36060900</value>
    <shrsOrPrnAmt>
      <sshPrnamt>213000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>213000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>LUCID GROUP INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>549498202</cusip>
    <value>5083837</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1249100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1249100</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>LUCID GROUP INC</nameOfIssuer>
    <titleOfClass>COM NEW</titleOfClass>
    <cusip>549498202</cusip>
    <value>66146</value>
    <shrsOrPrnAmt>
      <sshPrnamt>16252</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>16252</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MICROCHIP TECHNOLOGY INC.</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>595017104</cusip>
    <value>24614205</value>
    <shrsOrPrnAmt>
      <sshPrnamt>316500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>316500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MICROCHIP TECHNOLOGY INC.</nameOfIssuer>
    <titleOfClass>DEP SHS REPSTG</titleOfClass>
    <cusip>595017302</cusip>
    <value>11732175</value>
    <shrsOrPrnAmt>
      <sshPrnamt>175500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>175500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MP MATERIALS CORP</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>553368101</cusip>
    <value>14256422</value>
    <shrsOrPrnAmt>
      <sshPrnamt>301468</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>301468</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>MP MATERIALS CORP</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>553368101</cusip>
    <value>5821399</value>
    <shrsOrPrnAmt>
      <sshPrnamt>123100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>123100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEXTERA ENERGY INC</nameOfIssuer>
    <titleOfClass>UNIT 02/15/2029</titleOfClass>
    <cusip>65339F655</cusip>
    <value>2842290</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>66000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEXTERA ENERGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>65339F101</cusip>
    <value>14875336</value>
    <shrsOrPrnAmt>
      <sshPrnamt>196400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>196400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NEXTERA ENERGY INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>65339F101</cusip>
    <value>2717400</value>
    <shrsOrPrnAmt>
      <sshPrnamt>35878</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>35878</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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    <nameOfIssuer>NOVANTA INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>67000B104</cusip>
    <value>1365024</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>NOVANTA INC</nameOfIssuer>
    <titleOfClass>UNIT 11/01/2028</titleOfClass>
    <cusip>67000B203</cusip>
    <value>4202494</value>
    <shrsOrPrnAmt>
      <sshPrnamt>69500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>69500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ON SEMICONDUCTOR CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>682189105</cusip>
    <value>10860809</value>
    <shrsOrPrnAmt>
      <sshPrnamt>141288</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>141288</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>ON SEMICONDUCTOR CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>682189105</cusip>
    <value>22945695</value>
    <shrsOrPrnAmt>
      <sshPrnamt>298500</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>298500</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>PG&amp;E CORP</nameOfIssuer>
    <titleOfClass>PFD CONV SER A</titleOfClass>
    <cusip>69331C306</cusip>
    <value>12045120</value>
    <shrsOrPrnAmt>
      <sshPrnamt>381000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>381000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>PG&amp;E CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>69331C108</cusip>
    <value>23434250</value>
    <shrsOrPrnAmt>
      <sshPrnamt>1913000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>1913000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PPL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>69351T106</cusip>
    <value>2775916</value>
    <shrsOrPrnAmt>
      <sshPrnamt>84400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>84400</Sole>
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      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>PPL CORP</nameOfIssuer>
    <titleOfClass>UNIT 02/15/2029</titleOfClass>
    <cusip>69351T866</cusip>
    <value>2697300</value>
    <shrsOrPrnAmt>
      <sshPrnamt>60000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>60000</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>PPL CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>69351T106</cusip>
    <value>325907</value>
    <shrsOrPrnAmt>
      <sshPrnamt>9909</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>9909</Sole>
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      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>REALTY INCOME CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>756109104</cusip>
    <value>7721460</value>
    <shrsOrPrnAmt>
      <sshPrnamt>142200</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>142200</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
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  <infoTable>
    <nameOfIssuer>REDDIT INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>75734B100</cusip>
    <value>88213092</value>
    <shrsOrPrnAmt>
      <sshPrnamt>619300</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>619300</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>REDDIT INC</nameOfIssuer>
    <titleOfClass>CL A</titleOfClass>
    <cusip>75734B100</cusip>
    <value>68196426</value>
    <shrsOrPrnAmt>
      <sshPrnamt>478773</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>478773</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RIVIAN AUTOMOTIVE INC</nameOfIssuer>
    <titleOfClass>NOTE 3.625%10/1</titleOfClass>
    <cusip>76954AAD5</cusip>
    <value>10080000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>10000000</sshPrnamt>
      <sshPrnamtType>PRN</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>10000000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>RIVIAN AUTOMOTIVE INC</nameOfIssuer>
    <titleOfClass>COM CL A</titleOfClass>
    <cusip>76954A103</cusip>
    <value>9412200</value>
    <shrsOrPrnAmt>
      <sshPrnamt>630000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>630000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SEAGATE TECHNOLOGY HLDNGS PL</nameOfIssuer>
    <titleOfClass>ORD SHS</titleOfClass>
    <cusip>G7997R103</cusip>
    <value>19448461</value>
    <shrsOrPrnAmt>
      <sshPrnamt>21086</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>21086</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SELECT SECTOR SPDR TR</nameOfIssuer>
    <titleOfClass>ST STR STAPL ETF</titleOfClass>
    <cusip>81369Y308</cusip>
    <value>2418000</value>
    <shrsOrPrnAmt>
      <sshPrnamt>30000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>30000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SEMTECH CORP</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>816850101</cusip>
    <value>134903940</value>
    <shrsOrPrnAmt>
      <sshPrnamt>756400</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>756400</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SOFI TECHNOLOGIES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>83406F102</cusip>
    <value>7193472</value>
    <shrsOrPrnAmt>
      <sshPrnamt>457600</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>457600</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SOFI TECHNOLOGIES INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>83406F102</cusip>
    <value>12328772</value>
    <shrsOrPrnAmt>
      <sshPrnamt>784273</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>784273</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SOUTHERN CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>842587107</cusip>
    <value>5531581</value>
    <shrsOrPrnAmt>
      <sshPrnamt>66734</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>66734</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SOUTHERN CO</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>842587107</cusip>
    <value>13850919</value>
    <shrsOrPrnAmt>
      <sshPrnamt>167100</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
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    <putCall>Put</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>167100</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR GOLD TR</nameOfIssuer>
    <titleOfClass>GOLD SHS</titleOfClass>
    <cusip>78463V107</cusip>
    <value>45700800</value>
    <shrsOrPrnAmt>
      <sshPrnamt>120000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <putCall>Call</putCall>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>120000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPDR GOLD TR</nameOfIssuer>
    <titleOfClass>GOLD SHS</titleOfClass>
    <cusip>78463V107</cusip>
    <value>5331760</value>
    <shrsOrPrnAmt>
      <sshPrnamt>14000</sshPrnamt>
      <sshPrnamtType>SH</sshPrnamtType>
    </shrsOrPrnAmt>
    <investmentDiscretion>SOLE</investmentDiscretion>
    <votingAuthority>
      <Sole>14000</Sole>
      <Shared>0</Shared>
      <None>0</None>
    </votingAuthority>
  </infoTable>
  <infoTable>
    <nameOfIssuer>SPECTRUM BRANDS HOLDINGS INC</nameOfIssuer>
    <titleOfClass>COM</titleOfClass>
    <cusip>84790A105</cusip>
    <value>7163851</value>
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