BB equities - but I think I prefer deals?

Most derivatives are complicated enough (with the exception of stuff like delta one) and just don't have the two way flow that cash equities do, so that the only way to make markets in them is to hold inventory risk, which you try to hedge where no perfect hedge exists. Short of singularity level AI, you really need human decision making to price these types of derivatives when large risks are being taken that can make or lose the firm hundreds of millions. Computers have automated much of cash equities because its mostly an agency business of buying and selling shares without taking substantial risk, and outside of extremely large positions, the trading side is simple execution, which can be automated, with even principal trades being often held for less than a second. By contrast, in much of equity derivatives (and most derivatives), positions may need to be held for days, weeks, or even longer (for really exotic/structured stuff, sometimes years), depending on where it falls on the liquidity spectrum. Trades are hedged with liquid instruments, but its usually impractical to perfectly hedge anything but the simplest of derivatives, so a large degree of discretionary risk management is required for orders of significant size or complexity, which represents most of the trading revenue and jobs at banks nowdays.