Trader (Convertible Bonds)

PEAK6•Austin, TX

3d•$100,000 - $125,000•Hybrid

About The Position

PEAK6 Capital Management is seeking a Convertible Bonds Trader to join its Equity Capital Markets team, with a mandate focused on volatility-driven strategies. This hands-on position centers on trading the volatility component of convertible bonds—including gamma, vega, and skew—alongside credit and equity-linked risk. The trader will work with senior traders on position sizing, risk limits, and book construction in a proprietary trading environment.

Requirements

5–8 years of experience trading or supporting a trading function in convertible bonds, equity derivatives, or volatility products.
Strong grounding in options theory, including Black-Scholes, Greeks, volatility surfaces, and skew and term-structure dynamics.
Solid fixed-income mathematics, including yield curves, duration, credit spreads, and yield-to-worst, yield-to-maturity, and yield-to-call mechanics.
Proficiency with Bloomberg, including CBs, OMON, and derivatives pricing functions, and with other derivatives pricing or analytics platforms.
Demonstrated ability to assess risk using Greeks rather than focusing only on price.
Strong quantitative reasoning and comfort making decisions under uncertainty and time pressure.
Excel proficiency.
Competitive, self-directed mindset suited to a proprietary trading environment, with readiness to take on real risk and earn additional risk.

Nice To Haves

Python or other scripting ability for automating analysis.

Responsibilities

Trade convertible bonds with an emphasis on embedded optionality and manage gamma, vega, and volatility exposure across the book.
Identify and execute relative value opportunities among convertible bonds, underlying equities, listed options, and credit.
Monitor and hedge delta, gamma, and vega exposures in real time, adjusting hedges as underlying equity prices and implied volatility change.
Develop and refine pricing and valuation views using derivatives pricing tools, and compare model outputs with market-observed levels.
Analyze issuer credit quality, capital structure, and fixed-income terms such as yield-to-worst, conversion premium, and credit spread to inform trade decisions.
Partner with senior traders on position sizing, risk limits, and book construction.
Monitor primary issuance, calls, puts, corporate actions, and other events that affect convertible bond valuations.