I'm just wondering if anyone has used it. My firm is going through mock trading right now and I'd like to get some extra practice. It seems like vol cube is the only legit MM simulator on the market, but it's a little pricey. I'll definitely do their week-long free trial, but I also wanted to get some other's thoughts on it as well. Thanks for any insight.
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What platforms does your group use? Ours uses WhenTech for the pricing and risk, so I can mock trade through that all I want by just creating a dummy account and trading it.
I signed up for the volcube simulator just now (7-day trial) just to see what it's like. Also, what markets are you guys in? Just curious
As far as I've seen most of the software has been developed internally. I'm not 100% sure on that though. We're making markets in equity options. I still have yet to sign up for volcube as I want to get the most out of the 7 day trial and have been busy, but I'll probably do it tomorrow or monday and report back here.
It's pretty cool, I've been playing around. I think it's the best thing I've seen so far. Haven't really played much past level 1
Bump. Would love to see more reviews on this.
I don't like how you can't set vols when paper comes in bidding/offering something. I'd like to reflect what's going on in my pricing sheet. Also, I don't like how it forces you into trades if they're for edge - what if I don't want to put it on? (I think this is actually a bug and they meant to put the "Pass" option here)
It won't let me play above the 1st level, but overall I like the idea of the game. The amount of edge you can capture is a bit unrealistic, but whatever
Volcube is pretty fun, but it gets monotonous once you figure it out. You can master the Level games pretty quickly... I got to the top of the leaderboard in a month or so. All you are doing is following market vol, trading for edge, and keeping your greeks under control. Once you get a feel for this and reach Level 3, there is really not much to do.
Regarding jargon223's comments:
1) They want you to calculate the vol in your head when "paper" comes in, I guess for learning purposes. But yeah it would be nice if you could adjust your pricing sheet, that would help reduce quote times.
2) I was only forced into trades if my bid/ask was hit, so if this was a bug, it was fixed.
3) In a good game, which takes about 10 minutes, your profit will be close to $10,000... so yeah obviously the edge is unrealistic lol, but this is done on purpose so you can understand your performance and learn from it. Not all trades offer you edge, some actually attempt to take edge away. But yes, in a typical session there are a few trades that offer a substantial edge.
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