Chicago Prop Trading Internship
Hey everyone. I recently was invited to take a first round video-chat interview for a Trader Trainee Program with Belvedere Trading out of Chicago. From what I've read on these forums, it seems this company has a pretty difficult interviewing process.
I am wondering if anyone here has recently interviewed for an internship here, or has any insight as how to best prepare for this? I have some experience in options and foreign exchange markets. I plan to use this as a strong point, but some more information about what kind of questions they ask would be immensely helpful as well.
While I have knowledge on pricing and basic option trading strategies, I know little about market making and its intricacies. Will this be very necessary for a summer internship? Or are they looking primarily for intelligent candidates they can teach these things to?
That. You're not expected to know a whole lot, probably. Read Natenberg's Options Pricing and Volatility. You will not grasp all the core concepts very well the first time you read it, but they may put that in front of you later anyway if you get a job/internship there (regardless, it is a great book, arguably the de facto book, on options market-making afaik). Belvedere had several guys on the NYMEX floor when I was there - I think a couple left but to where I don't know.
Thank you for the reply. I will check that book out, but my interview will be within the next 2 days so I don't know if powering through a 400-500 page book would be the best use of my time. In terms of intelligence-based questions, what are some standard things a company like this would ask?
How did the interview go?
It has not been scheduled yet due to the long weekend. I assume it will be in the next 2-3 days though.
Went alright. Ended up not receiving an offer though. A few questions going over my resume and past experiences. One brain teaser. About 35-40 minutes of mental math and probability stuff (EV specifically).
don't be too worried about it if you're still in school and getting internships. Personally, I'm not that interested in working for a prop shop
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