Abstract
We give a complete classification of semistable rank two sheaves on three-dimensional projective space with maximal third Chern character. This implies an explicit description of their moduli spaces. As an open subset they contain rank two reflexive sheaves with maximal number of singularities. These spaces are irreducible, and apart from a single special case, they are also smooth. This extends a result by Okonek and Spindler to all missing cases and gives a new proof of their result. The key technical ingredient is variation of stability in the derived category.
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