BB summer analyst role in eq derivatives trading

Sopuli's picture
Rank: Senior Baboon | 189

Hi WSO, am looking to gain an understanding of what a summer analyst will be doing at equity derivatives trading desk as this is somewhat unclear to me. Will be interning this summer in Europe but US folk please feel free to bump in with your experience

From what I understood during the interviews, I will get to work in market making and risk hedging of open positions. The head of the desk also told me that I get to have some (very) small mandate whether to fully hedge some position x or leave it partially unhedged if i have a view on the market (e.g. "prop" trading).

What else is there to expect? What should I work on before beginning in June (besides knowing whats going on the markets? Learn basic knowledge of options/statistics, brush up on math? How can I help the most the guys at the desk, other than not fucking up anything during the summer?

Lots of questions but appreciate all answers, cheers.

Comments (7)

Feb 14, 2018

If you're definitely working in derivs, I'd recommend reading through Natenberg's "Options Volatility and Pricing." You definitely won't understand everything the first time through but it does provide a great baseline in an easy to digest way and you'll have a leg up on the other interns when you get started. Even just knowing basic greeks/spreads and how greeks vary across time/delta space will be huge.

    • 1
Mar 29, 2018

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Mar 29, 2018

but should be quite easy based on your background

Mar 29, 2018

but how to project trading exp...that wud be relevant for IB......

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Mar 29, 2018

IB as in S&T? eurdollar futures are immensely important in the finance world. maybe show you having knowledge of libor dynamics, forward rate curve, etc. knowledge of HJM, libor market model, and most important practical realworld knowledge.

I see you're from India from your profile. I don't know what they do in IB over there. Though I'm guessing there isn't as much S&T going on. mostly just IBD- e.g. m&a, advisory? In that case you're less valuable in IB.

Mar 29, 2018
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