Volatility-Driven Convertible Bonds Trader

Peak6 Investments LLC; New York (NY); Hybrid; USD 100,000 - 125,000; Full time

Benefits offered by this job

Healthcare benefits (medical, dental,/

Competitive PTO

401k match

Parental leave

HSA contribution match

Calm app subscription

Tuition reimbursement

Remote work up to two days a week

Job summary

PEAK6 Capital Management seeks a Convertible Bonds Trader to join our Equity Capital Markets team, focusing on volatility-driven strategies and convertible arbitrage mechanics. This hands-on role emphasizes gamma/vega risk management and relative value opportunities across bonds, equity, and credit, with real-time hedging and pricing refinement.

You will partner with senior traders on sizing and book construction, leveraging Bloomberg and Python to stay ahead of market moves.

Qualifications

• 2–5 years of experience trading or supporting a trading function in convertible bonds, equity derivatives, or volatility products.
• Strong grounding in options theory (Black-Scholes, Greeks, vol surfaces, skew/term structure dynamics).
• Solid fixed income math (yield curves, duration, credit spreads, YTW/YTM/YTC).
• Proficiency with Bloomberg (CBs, OMON, derivatives pricing functions) and other pricing/analytics platforms.
• Demonstrated ability to think in terms of risk (Greeks) rather than just price.
• Strong quantitative reasoning and comfort making decisions under uncertainty and time pressure.
• Excel proficiency; Python or other scripting ability a plus for automating analysis.
• A competitive, self-directed mindset suited to a prop trading environment — you’ll be given real risk and expected to earn more of it.
• No specific degree required — but a track record and demonstrated market knowledge matter.

Responsibilities

• Trade convertible bonds with an emphasis on the embedded optionality — managing gamma, vega, and volatility exposure across the book.
• Identify and execute relative value opportunities between convertible bonds, their underlying equity, listed options, and credit
• Monitor and hedge delta, gamma, and vega exposures in real time; adjust hedges as underlying equity and implied vol shift
• Build and refine pricing/valuation views using derivatives pricing tools, challenging model outputs against market‑observed levels
• Analyze issuer credit quality, capital structure, and fixed income terms (yield‑to‑worst, conversion premium, credit spread) as inputs to trade decisions
• Partner with senior traders on position sizing, risk limits, and book construction
• Stay current on primary issuance, calls/puts, corporate actions, and other events that affect convert valuations

Skills

Convertible bonds trading

Options theory

Greeks

Quantitative reasoning

Bloomberg

Excel

Python

Risk management

Decision making under time pressure

Tools

Bloomberg Terminal

Job description

PEAK6 Capital Management seeks a Convertible Bonds Trader to join our Equity Capital Markets team, focusing on volatility-driven strategies and convertible arbitrage mechanics. This hands-on role emphasizes gamma/vega risk management and relative value opportunities across bonds, equity, and credit, with real-time hedging and pricing refinement.

You will partner with senior traders on sizing and book construction, leveraging Bloomberg and Python to stay ahead of market moves.