I know there's been 10,000 of these posts before, but things change with time so I was wondering what everyone's opinion is today of the top options trading firms. How would you rank firms like Optiver, IMC, Belvedere, Wolverine, DRW, Jane Street, etc?
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Can't forget SIG
Its really hard to generalize because they all specialize on different markets.
Assuming you are talking traditional MMing, I will say SIG is #1 in equity option MM. Citadel would be close 2nd. I heard other small shops(Spot?) make a decent chunk of cash there. In the world of Equity index Option MM, I will say Optiver/CTC/IMC are the big players. Akuna/Belveder/Wolverine are also strong in the S&P complex. If you go to the fixed income space, DRW is definitely the king of Eurodollar. For US treasuries, Optiver(US + Amsterdam office) trades almost 40% of the CME volume. Jane Street doesn't trade options actively, they mostly focus on ETFs.
If you talk about just taking positions, there would be lots of different big and small shops that are profitable that people don't know. You could just make a killing by being long vol during Brexit, but does that make it the best shop?
Also all of these firms have difference characteristics. Some shops might have edge on trading delta of an option, some would have edge on trading vol. Some firms encourage traders taking big-ass positions(doubling down), some has a tighter risk limit.
Jane Street may trade some options but I don't think they are one of the best firms at it. Optiver and IMC post their financial results so you can get a sense of how they are doing.
Best US Options Trading Firms? (Originally Posted: 09/24/2015)
What are the best options trading firms in the US? Obviously, Citadel, Wolverine, and SIG come to mind in terms of prop shops, but I was wondering if anyone had any color on banks and whatnot.
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