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Belvedere Trading

Posted 6 months ago

Open

Experienced Commodities Options Trader

ChicagoOn-siteFull-time

AI Summary

Experienced commodities options trader leads market-making and strategy development across energy, metals, agriculture, or related markets, partnering with quants and technologists to optimize pricing, risk, and analytics.

About this role

Belvedere Trading is a leading proprietary trading firm. We are a team driven by intellectual curiosity, seeking answers that will change not only how we trade in this technological age, but also the future landscape of the trading industry.
Our traders provide liquidity to the market through their market-making activities and are the masters of a diverse set of commodities, interest rates, exchange-traded funds (ETF), and equity index options. Traders partner with our technologists to continually engineer and optimize our trading systems to stay on top of the industry.

As an Experienced Commodities Options Trader, you will help expand and lead Belvedere’s presence in commodity derivatives markets. In this role, you will take ownership of strategy development, pricing, and risk across commodity options products. You’ll bring strong market intuition, quantitative rigor, and a collaborative mindset to a fast-paced environment where we work together to solve complex problems and push our trading capabilities forward.

What you'll do

  • Become a leader in options market-making, while being recognized and compensated for your contributions within the firm.
  • Participate in formal education on quantitative concepts to build your trading knowledge.
  • Lead market-making and execution across commodity options products, guiding pricing, risk parameters, and strategic direction.
  • Own and refine trading strategies from ideation through execution, generating insights in high-volume and high-volatility markets.
  • Identify trends and mispricings by leveraging data, market structure knowledge, and an understanding of supply–demand dynamics across commodities.
  • Collaborate with technologists and quants to enhance analytics, improve models, and systematize trading workflows that scale.
  • Develop tools to analyze positional opportunities, evaluate risk, and improve options liquidity.
  • Manage risk with discipline, monitoring exposures in real time and ensuring adherence to Belvedere’s risk philosophy.
  • Work cross-functionally with research, technology, and trading teams to drive innovation and support the continued evolution of our commodities options trading groups.

    • What you'll need

  • 3–7+ years of experience trading commodity options (energy, metals, agriculture, or related markets).
  • Demonstrated success generating PnL, managing complex risk profiles, and navigating fast-moving markets.
  • Deep understanding of options pricing, volatility dynamics, and commodity market structure, including fundamental drivers.
  • Proficiency with analytical and programming tools such as Python, R, or SQL, with the ability to work with large datasets and improve modeling or decision-support systems.
  • Ability to thoughtfully approach decision-making, thrive under pressure and adapt quickly to changing market conditions.
  • Excellent communication skills and a team-oriented mindset.
  • Bachelor’s degree or higher in Finance, Engineering, Physics, Mathematics, Economics, Computer Science, or a related technical field.

    • Skills

    Commodity Market StructureData AnalysisExecutionLarge DatasetsMarket MakingOptions PricingPythonQuantitative MethodsRRisk ManagementSQLStatistical ModelingTrading SystemsVolatility Dynamics

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