Experienced Commodities Options Trader
Belvedere Trading is a leading proprietary trading firm and market maker headquartered in Chicago, with additional offices in Boulder, New York, and Singapore. Founded in 2002, the firm builds proprietary trading technology and risk management systems to capitalize on market inefficiencies across options and other derivatives markets.
About Belvedere Trading
Belvedere Trading emerged in March 2002 as one of Chicago's newest market makers, establishing its place in the SPX pit on the floor of the Chicago Board Options Exchange. Since inception, the firm has invested iteratively in proprietary technology, starting with an options model, adapting it to handheld computers, and eventually building its software systems from the ground up. Due to its ultramodern proprietary technology and risk management capabilities, Belvedere is able to quickly capitalize on inefficiencies in the marketplace, with trading models and software systems continually re-engineered, optimized, and maintained to stay competitive. The firm operates from Chicago, Boulder, New York, and Singapore, employs close to 300 individuals, and is known for low turnover, high referral rates, and a strong company culture centered on core values such as teamwork, ownership, and innovation. Belvedere focuses on proprietary trading across asset classes including equity and commodity options, leveraging cutting-edge technology and talented people to sustain its growth.
Skills
About the Role
You will help expand and lead Belvedere's presence in commodity derivatives markets. You'll take ownership of strategy development, pricing, and risk across commodity options products, bringing strong market intuition, quantitative rigor, and a collaborative mindset to a fast-paced environment where you'll work with others to solve complex problems and push trading capabilities forward.
Requirements
- 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
Responsibilities
- 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 commodities options trading groups