Study path
Trading and market making
Speed, probability and judgement under uncertainty: the path to a quoting seat at a market maker.
6 topics · 34 lessons · about 7 hoursOptiver, SIG, IMC, Jane Street
- 1
Mental maths and numerical fluencyFLU
Arithmetic fast enough to quote from: multiplication, fractions, percentages and estimation under a clock.
2 chapters · 2 lessons
- 2
Counting and combinatoricsCOMB
The counting machinery behind every probability question: four standard cases, two techniques, and the arguments that prove something cannot be done.
4 chapters · 4 lessons
- 3
ProbabilityPROB
Conditioning, distributions, expectation and the handful of techniques that turn most interview probability questions into one-liners.
6 chapters · 9 lessons
- 4
Games, decision theory and puzzlesGAME
Pricing a game you may keep playing, and the three habits — counting information, reasoning about what others know, working backwards — that the puzzle round is really testing.
6 chapters · 7 lessons
- 5
Market makingMM
Quoting a two-sided market: theoretical value, width, skew, and reading what a fill tells you.
6 chapters · 6 lessons
- 6
Markets and productsMKT
What you need for the "what have you been following?" and "pitch me a trade" parts of the conversation.
6 chapters · 6 lessons