Advice for a Junior Options Trader
Hi everyone,
I am soon to graduate and have secured a junior position at a proprietary trading firm (DRW/Mako/SIG) - could I have some opinions and advice on the 'best' desks for options market making/position taking in terms of your own personal interests/potential exit opportunities (should I ever want or need them) etc. I will have the chance to rotate and see multiple desks.
As it will be some time before I actually begin trading, do you have any tips on useful contributions on an options trading desk? Or even just general advice for a junior options trader?
Been lurking for some time and have learned a lot from this forum over the years, thanks for the advice.
lol one of these is not like the others.
To be honest it won't matter at a prop shop. You will basically have no exit opps bar starting your own prop so just pick the desk with the people you like best. At a prop your day to day will probably be fairly similiar. Some products use screens more and others use phones/floor brokers so think about that as well.
Okay sure, thanks. Do you happen to know which products are more screen or phone based? Got any advice on what you would find useful for a junior to do to contribute on a derivatives desk?
My advice is to find someone who takes a genuine interest in your development and work with them as closely as possible. The "best" desks vary by firm and market environment so it's difficult or impossible for us to really help you with that. Also, the best place for you likely won't end up being the "best" desk.
Ask as many intelligent questions as possible and try to never ask the same question twice. If someone takes the time to teach you something, write it down after work and think about it over the next few days. Try to understand it on a deeper level and think of follow up questions and natural progressions.
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