Volatility Trader

Simplex Trading•Chicago, IL

2d•$150,000 - $200,000•Onsite

About The Position

As a Volatility Trader at Simplex, you will take an analytical approach to identifying market opportunities with favorable risk-reward profiles with the goal of generating trade ideas and enhancing our core market making pricing systems. We expect that you have experience thinking about volatility valuation through a variety of lenses, including analysis of implied-vs-realized, term structure and event pricing, skew surface dynamics, and relative value or cross-asset relationships. You will manage discretionary positions and work closely with our existing market making team to create systematic pricing overlays and improve hedging, risk management, and edge capture.

Requirements

Minimum 3–5 years of professional experience in a volatility trading/research or portfolio management role.
Demonstrated track record of generating and executing profitable trading ideas.
Strong practical foundation in options theory and Bayesian statistics/probability.
Strong analytical judgment under uncertainty; able to operate decisively under constraints.
Precise technical communication skills; able to concisely present conclusions and articulate associated inputs, assumptions, and process.
Sufficient technical skills to independently interface with data and prototype research ideas.

Responsibilities

Conduct research to identify market dislocations, mispricings, or other trading opportunities in the volatility space.
Monitor and manage live positions with a focus on order flow dynamics and counterparty behavior.
Work closely with Simplex's core market making team to develop systematic approaches to volatility valuation or pricing overlays.
Continuously improve the firm's toolset for volatility research, risk management, and P&L attribution.
Clearly communicate and document research methodology and trading decisions for collaboration and review.