Systematic Equity Options Trader

Trading Interview; Chicago (IL); On-site; USD 170,000 - 250,000; Full time

Benefits offered by this job

Discretionary bonus

Comprehensive benefits

Job summary

Old Mission is seeking a Systematic Equity Options Trader to join our Chicago HQ. You will design, implement, and manage systematic trading strategies across equity options, working closely with quantitative research and technology teams to capitalize on market inefficiencies while controlling risk.

This role demands strong knowledge of options pricing, Greeks, volatility dynamics, and programming in Python or C++.

Qualifications

• Bachelor's degree in Mathematics, Statistics, Computer Science, Physics, Engineering, or related quantitative field.
• 4+ years of experience in systematic options trading, quantitative trading, or quantitative research.
• Strong understanding of options pricing theory, Greeks, and volatility dynamics.
• Proficiency in Python or C++ is a prerequisite.
• Experience with statistical analysis, machine learning, and quantitative modeling techniques.
• Must have a strong understanding of the market microstructure and execution algorithms.
• Excellent analytical and problem-solving skills.
• Ability to work effectively in a fast-paced, collaborative environment.

Responsibilities

• Design and implement systematic trading strategies for equity options, including single-name options, index options, and volatility products
• Build and maintain quantitative models for options pricing, volatility forecasting, and risk management
• Monitor and optimize existing strategies and identify opportunities for improvement
• Collaborate with quantitative researchers to translate research insights into production trading strategies
• Manage portfolio risk through systematic hedging and position management
• Analyze market microstructure and develop strategies to optimize execution quality
• Work with technology teams to build robust, scalable trading infrastructure
• Conduct post-trade analysis to evaluate strategy performance and identify areas for improvement

Skills

Options pricing theory

Greeks

Volatility dynamics

Python or C++

Statistics & ML

Quant modeling

Market microstructure

Analytical skills

Team collaboration

Education

Bachelor's degree in Mathematics/Statistics/CS/Physics/Engineering

Advanced degree preferred

Tools

Python

C++

Machine Learning

Job description

Old Mission is a global proprietary trading firm that leverages state-of-the-art technology and research to identify and execute profitable trading strategies across multiple asset classes around the world. Our offices in Chicago, New York, and London are all composed of naturally-curious individuals who thrive in a team environment and constantly strive for improvement.

About the Position

Old Mission is seeking a Systematic Equity Options Trader to join our growing options trading desk in our Chicago HQ. This Equity Options trader will be responsible for developing, implementing, and managing systematic trading strategies across equity options markets. This Equity Options Trader will work closely with our quantitative research and technology teams to develop systematic approaches that capitalize on market inefficiencies while effectively managing risk.

Responsibilities

Design and implement systematic trading strategies for equity options, including single-name options, index options, and volatility products

Build and maintain quantitative models for options pricing, volatility forecasting, and risk management

Monitor and optimize existing strategies, identifying opportunities for enhancement and improvement

Collaborate with quantitative researchers to translate research insights into production trading strategies

Manage portfolio risk through systematic hedging and position management

Analyze market microstructure and develop strategies to optimize execution quality

Work with technology teams to build robust, scalable trading infrastructure

Conduct post-trade analysis to evaluate strategy performance and identify areas for improvement

Required Qualifications

Bachelor's degree in Mathematics, Statistics, Computer Science, Physics, Engineering, or related quantitative field; advanced degree preferred

4+ years of experience in systematic options trading, quantitative trading, or quantitative research

Strong understanding of options pricing theory, Greeks, and volatility dynamics

Proficiency in Python or C++ is a prerequisite

Experience with statistical analysis, machine learning, and quantitative modeling techniques

Must have a strong understanding of the market microstructure and execution algorithms

Excellent analytical and problem-solving skills

Ability to work effectively in a fast-paced, collaborative environment

Preferred Qualifications

Experience trading equity options or volatility products systematically

Knowledge of order book dynamics and high-frequency trading concepts

Familiarity with real-time data processing and low-latency systems

Track record of developing profitable quantitative trading strategies

Base Salary Range

$170,000 - $250,000 - Salaries are based on numerous factors such as skills, experience, and education. Our compensation package also includes a discretionary bonus and a comprehensive benefits program for full-time employees.

Old Mission Capital is a quantitative market-making firm founded in 2008. It prices "thousands of financial instruments globally" and has "traded trillions of dollars of securities using proprietary systems and…"