Da fuq just happened in my interview?

Can't tell yet. They will have a discussion internally and let you know or not

I would suggest you go and crush every options related textbook and online resource you can find.

Thanks all, WSO never ceases to amaze me how helpful you guys are. Some users sent me different texts on options. I truly appreciate the help.

May also not be a bad idea to mention that you were a little nervous during the first interview but reviewed the questions over the weekend you missed and feel you can answer them now if that's relevant. They may not care, but at least it shows initiative.

Good luck!

Just curious, what kinds of calculations did the first MD have you doing? Mental math/brain teaser?

read about options...duh

They all asked market awareness questions, a few fit questions, and a few technicals. I'll write up a lengthy post on it after my interview is complete on Monday. No brain teasers. The calculations came from conversion rates and interest payments. I fumbled with the first guy on the mental math pretty badly, but I recovered and finished strong with the last two MDs. I'll post specifics on Monday.

I don't understand why you need help here, the MD literally told you to know options.. so study options.

Realistically, your chances depend on your competition. If they are strong, then you're probably done. Generally, the people getting the job come away killing the interview (or at the very least, not bombing it)

http://www.investopedia.com/university/options/#axzz1zsFuub4k Best source I could find on the web.

http://www.optionsclearing.com/about/publications/character-risks.jsp

I know its the thing they give you when you open an options account, but honestly it is really good material.

What kind of firm was this?

@TS mind sharing some of the options related text?

hope you get an offer, no worries.

cheers.

The best way to learn about something is to jump into the fray. While this advice won't prepare you for Monday, it's best to "have some skin in the game." Aside from that, McDonald R. L., Derivatives Markets (2nd ed., Addison Wesley); Solid reading material that will introduce you to the underlying mathematics of derivatives markets, and it will provide insight into fundamental strategy.

3 diff MDs trade 3 diff products. The first guy does want you near his book/desk. #2 don't care. #3 does and he trades wait for it OPTIONS. So really the only shot you got is to learn options and kill it, since are the books/desks who like you.

Really not that hard to decipher, you moved on but you need to learn options.

http://www.optionseducation.org/en.html is a really good site for learning options, from the basics to pretty complex stuff

Update: Just got off the phone with MD #3, did really well again. Thank you all for helping me. I was very prepared because of the information in this thread. I answered all the questions clearly and thoroughly.

At the end of the call the MD thanked me for my time and said I did very well and that he was impressed. He also said that MD #1 and MD #2 were unsure, I told him that given another chance to speak with them I would redeem myself. He ended by saying that I would hear back this week whether or not I move on to the final round.

Well congrats!!