Systematic Equity Options Trader

Trading Interview; Chicago, Northern (IL, KY); Hybrid; USD 170,000 - 250,000; Full time

Job summary

Old Mission Capital in Chicago seeks a Systematic Equity Options Trader to design and implement quantitative trading strategies across equity options, collaborating with research and technology teams to deploy robust, scalable approaches.

You will build pricing models, manage risk, monitor market microstructure, and optimize execution while contributing to a high-performance trading desk. This role offers a lucrative base salary and discretionary bonus opportunity.

Qualifications

• Bachelor's degree in a quantitative field; advanced degree preferred.
• 4+ years in systematic options trading or related.
• Strong understanding of options pricing, Greeks, and volatility dynamics.
• Proficiency in Python or C++.
• Experience with statistical analysis, machine learning, and quantitative modeling techniques.
• Strong understanding of market microstructure and execution algorithms.

Responsibilities

• Design and implement systematic trading strategies for equity options across 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.
• 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

Python

C++

Statistics

Quantitative modeling

Machine learning

Risk management

Market microstructure

Analytical thinking

Education

Bachelor's degree in Mathematics, Statistics, Computer Science, Physics, Engineering (quantitative field)

Advanced degree preferred

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.

Old Mission does not seek capital from outside investors, allowing us the flexibility to aggressively invest in our team members and keep them engaged in the firm’s growth.

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 is not accepting unsolicited resumes from any staffing/search firms. All resumes submitted by staffing/search firms to any employee at Old Mission via-email, the Internet or directly without a valid signed search agreement will be deemed the sole property of Old Mission, and no fee will be paid in the event the candidate is hired by Old Mission.

This description was published by Old Mission Capital. Applications are handled on their careers site: we are not the employer and cannot process them.

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…