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dgamma


Total Posts: 2
Joined: Mar 2015
 
Posted: 2015-03-02 22:01
Hello guys,



Ultimately my goal is to get into volatility trading with equity option both vanilla and exotic. My background is I completed a Masters in Quant Finance back.

In the search for jobs, I have been invited for interviews for an Exotic Bookrunners position - may I ask if this is a good platform to learn about exotics and eventually move into trading?

I understand that getting straight into a trading position is optimal - just wanted to hear people's experience regarding this if possible.

Thank you for your time

leftic


Total Posts: 86
Joined: Jun 2007
 
Posted: 2015-03-03 03:57
Please believe me that this is a useful response:

2007 called, it wants its career path question back.

dgamma


Total Posts: 2
Joined: Mar 2015
 
Posted: 2015-03-03 09:24
My apologies, but I was still in high school in 2007.

If you could excuse and forgive my ignorance - could you explain further?
I gather from the tone that, no it's completely too far from where I would like to be.

goldorak


Total Posts: 1042
Joined: Nov 2004
 
Posted: 2015-03-03 09:32
Is there anything we can call "exotic" nowadays? Because I would buy whatever is called "exotic" or "enhanced".

If you are not living on the edge you are taking up too much space.

leftic


Total Posts: 86
Joined: Jun 2007
 
Posted: 2015-03-04 04:32
Well, you have to question why that tiny area of finance is THE one you just must do. If it were growing and hot as it was in 2006, then you could understand it as a cagey if cynical career move. But vol and exotics are dead, boring and unlikely to stage some meteoric comeback.

Find a job you enjoy doing. If vol is the only thing you enjoy, then I weep for you. There's beauty and fascination everywhere, but you have to be open to it to find it.

eeng


Total Posts: 17
Joined: Dec 2014
 
Posted: 2015-03-04 19:45
Just out of curiosity, why do you say vol is dead? There's vol futures, ETFs and all sorts of instruments to trade it which make traded volumes rise every year

quantmatters.wordpress.com

leftic


Total Posts: 86
Joined: Jun 2007
 
Posted: 2015-03-04 22:43
Yeah, but the way you make money trading those is the same way you make money trading equities, or futures. There's very little vol involved in trading VXX. Maybe there are places where that's not true, but if they exist they're not hiring OP. Banks just don't make much money trading vol anymore.

This is my perception of the industry. I could be wrong.

il_vitorio


Total Posts: 103
Joined: Aug 2014
 
Posted: 2015-03-05 04:19
Just as an informative question... Where do you think banks have their actual exposure in?


One of my most productive days was throwing away 1000 lines of code.

Jurassic


Total Posts: 114
Joined: Mar 2018
 
Posted: 2018-05-13 22:34
> Banks just don't make much money trading vol anymore.

Why is this? Do you think this is cyclical or structural?
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