Volatility Trader

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.

• →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.

• 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.

Founded in Chicago in 2004, Simplex is a leading, technology-driven, proprietary market-making firm. We work with the most advanced technology and software in the market, and we’ve continued to remain at the forefront of the industry by always focusing on innovation, automation, and data-driven analysis. We also leverage our experience and expertise to make strategic investments and capitalize on opportunities in the venture capital markets with promising, early-stage financial and technology start-ups. 

• Benefits: Excellent a la carte Medical/Dental/Vision (free employee coverage!), 401(k) match, generous parental leave!
• The Office: The kitchen is stocked with snacks, and beverages; you also have daily stipends for breakfast and lunch! 
• Tuition Reimbursement: As an investment in our employees’ careers and the company’s future, we offer educational assistance to provide employees with professional development opportunities that increase their skills and enhance their contributions to the organization!
• Employee Discounts: To gyms, national brands, and more!
• Building: We are located in the Federal Reserve building. As a tenant, you have access to a building gym and a full cafeteria. We are easily accessible to all public transportation.
• Charity Match: We match up to $2,000 a year in donations to the charities of your choice!
• Fun Events: In-person happy hours, celebrations throughout the year, game nights, video game fun, and so much more!

Simplex is an Equal Opportunity Employer. Simplex and its recruitment partners may use artificial intelligence (AI) tools to support certain aspects of the recruiting and hiring process. Final hiring decisions are made by humans. For all job postings, Simplex may use AI to review and analyze applications, resumes, interviews, and applicant responses.  Simplex complies with applicable federal and state laws governing AI use. Applicants may still request reasonable accommodations. For more information related to AI or to request an accommodation, please contact HR@simplextrading.com.