Quantitative Researcher

Group One Trading, LP; Chicago (IL); On-site; USD 175,000 - 225,000; Full time

Benefits offered by this job

401(k) plan

Roth 401(k) plan

Health insurance

Dental insurance

Vision insurance

Vacation & holidays

Parental leave

FSA

Job summary

Group One Trading, LP is seeking a Quantitative Researcher in Chicago, IL or New York, NY. You will advance our equity options pricing, risk models, and trading insights by applying rigorous data analysis and advanced volatility techniques.

You will collaborate with traders and developers to translate research into actionable trading improvements, contributing to portfolio profitability and model advancement.

Qualifications

• Professional experience in quantitative research, trading, or risk modeling within equity options.
• Expertise with volatility modeling techniques including local, stochastic, and rough volatility models and arbitrage-free surfaces.
• Understanding of option pricing models and portfolio risk management.
• Strong foundation in probability, statistics, numerical methods, and empirical analysis.
• Experience analyzing large datasets and testing hypotheses.
• Knowledge of equity options market structure and electronic market making.

Responsibilities

• Develop and validate pricing and risk models for equity options.
• Collaborate with traders and software developers to implement research into trading decisions.
• Lead hypothesis-driven research to improve pricing, volatility modeling, hedging, and risk management.

Skills

Quantitative research

Equity options trading

Volatility modeling

Option pricing

Statistics

Data analysis

Python

SQL

Independent thinking

Scientific degree

Education

Bachelor's or higher in Physics/Math/CS

Tools

Python

SQL

Job description

Quantitative Researcher

Location: Chicago, IL or New York, NY

Salary Range: $175,000 - $225,000

(Base salary is only one part of Group One Trading's total compensation, which includes an annual discretionary bonus.)

THE OPPORTUNITY

Our Quantitative Researchers combine a deep theoretical and practical understanding of financial markets with a data-driven scientific mindset to drive our business forward. They partner with our quantitative software developers to improve our proprietary trading systems and with traders to translate quantitative research into better trading decisions. Our researchers generate and validate hypotheses that ultimately improve the trade quality, volume, and profitability of our equity options market-making.

THE SKILLSET

• Professional experience in quantitative research, trading, or risk modeling within equity options
• Expertise with volatility modeling techniques such as local, stochastic, and rough volatility models, as well as arbitrage-free implied volatility surfaces
• Deep understanding of option pricing models, and measuring and managing complex portfolio level risk
• Strong foundation in probability, statistics, numerical methods, and empirical analysis
• Experience analyzing large datasets and rigorously testing hypotheses
• Understanding of equity options market structure and the practical dynamics of electronic market making
• Proficiency in Python and SQL, or comparable quantitative research tools
• Independent judgment, intellectual curiosity, and a willingness to challenge existing models and assumptions
• A bachelor's or advanced degree in a scientific field (e.g., Physics, Mathematics, Computer Science)

We value demonstrated research ability, options expertise, and trading insight over experience with any particular technology or academic pedigree.

WHAT TO EXPECT AS A QUANTITATIVE RESEARCHER

Within 1 month, you will develop an understanding of our equity options market-making business, proprietary trading platform, pricing and risk models, research environment, and historical data. You will work directly with traders and quantitative developers to understand how we price options, measure portfolio risk, and make trading decisions.

Within 3 months, you will independently analyze our models and trading behavior, investigate weaknesses or opportunities in how we represent risk, and test improvements against historical and live-market data. Your research will begin influencing our pricing, volatility modeling, hedging, and risk-management decisions.

Within 6 months, you will own research initiatives from hypothesis through production implementation. You will identify opportunities to improve how we model and manage the complex risks inherent in an equity options portfolio and work with traders and quantitative developers to turn successful research into measurable trading improvements.

THE BENEFITS

Our Quantitative Researcher earns a competitive salary, including a performance-based bonus. We provide fantastic benefits, including 401(k) and Roth 401(k) retirement plans with employer matching, medical, dental, vision, generous vacation time, paid holidays, parental leave, and flexible spending accounts (FSA) for health care, dependent daycare, and parking or mass transit expenses.

If this sounds like the right opportunity for you, apply today! Please fill out our initial 3-minute, mobile-friendly application for the Quantitative Researcher role at group1.com/careers. We look forward to meeting you!