Quantitative Researcher
Group One Trading•Chicago, IL
•Hybrid
About The Position
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.
Requirements
- 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)
Nice To Haves
- Demonstrated research ability
- Options expertise
- Trading insight
Responsibilities
- Generate and validate hypotheses to improve trade quality, volume, and profitability of equity options market-making.
- Partner with quantitative software developers to improve proprietary trading systems.
- Partner with traders to translate quantitative research into better trading decisions.
- Independently analyze models and trading behavior.
- Investigate weaknesses or opportunities in how risk is represented.
- Test improvements against historical and live-market data.
- Influence pricing, volatility modeling, hedging, and risk-management decisions.
- Own research initiatives from hypothesis through production implementation.
- Identify opportunities to improve how complex risks inherent in an equity options portfolio are modeled and managed.
- Work with traders and quantitative developers to turn successful research into measurable trading improvements.
Benefits
- Competitive salary
- Annual discretionary bonus
- 401(k) and Roth 401(k) retirement plans with employer matching
- Medical insurance
- Dental insurance
- Vision insurance
- Generous vacation time
- Paid holidays
- Parental leave
- Flexible spending accounts (FSA) for health care, dependent daycare, and parking or mass transit expenses
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What This Job Offers
Job Type
Full-time
Career Level
Senior
