Ronin Capital: more information regarding interview for assistant trader position
Anybody know about this firm? They're a prop shop in Chicago that mostly trades equity options. I have an interview for an assistant trader position. Do you know what the base for this job would be?
Have no idea ... but I'd be curious to hear about your interview. I was considering them as well.
Since its a prop-shop in equities you'll definitely want to be up on your B.S., B.S. w.r.t to random rates, vega (kappa), delta etc.
If you have any questions about these topics, pm me.
Don't worry about base. Worry about the fact that when most of Wall Street was shitting itself in '08, there were guys at Ronin and other Chicago props pulling down six to seven figure days.
Midas, you know this for a fact? Could you share any juicy stories regarding this?
Not too surprising that volatility traders killed it during the market crash of 2008. My guess is this year is pretty bad for them.
I can verify that there were guys putting up 6-7 figure days in 2008. Taking the other side of market order in illiquid markets can be quite lucrative. Some of the stuff that happened then was just stupid. Really made you wonder who the idiot institutional traders were and how they ever got their jobs.
lol because every volatility trader is long vol?
cmon son.... use your head.
My guess is the base salary is quite low since it's for an assistant trader role.
My slightly educated guess on the base salary would be 40-50k base. Maybe a tad more, depending on how quickly they want you to start trading.
Also, Midas makes a good point that during the crisis options traders were killing it because volatility was through the roof. With this extended rally we've been having, pretty much the opposite is happening. The trading is drying up a tad (at least from what I've seen) and the upside growth isn't what it once was. Still a solid opportunity, but don't go in there expecting to make '08-level money unless you think another gigantic financial crisis is coming soon. The Japan Earthquake and the Arab spring happening at the same time haven't even had much effect.
Just my $0.02.
Volatility and volume have been much lower since '08 which means prop trading isn't looking as lucrative as it was in the past. With that said, a lot of trading across the street haven't been doing particularly well either. Good luck and hopefully you come out ahead. I tried interviewing for Ronin back in the day but didn't get an interview. It's a decent shop overall in my op.
Ronin Capital (Originally Posted: 08/26/2011)
Anyone heard of these guys? theyre a prop shop based out of Chicago. Haven't found anything online about interviews and size of firm any advice would be appreciated.
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