The Belvedere Trading Interview Process

Belvedere Trading's own options simulator, used in university courses, previews the exact skill its interview process tests for.

Belvedere Trading runs candidates through an options pricing and probability screen, one or two interviews with traders that lean heavily on its own trading simulation software, and a final round assessing judgment under pressure. Founded in Chicago in 2004, Belvedere Trading built its identity around options market making and volatility trading, and its interview process leans on the same simulator the firm has licensed to university finance courses, which gives candidates an unusually direct preview of what the job actually involves.

Belvedere Trading makes markets in listed equity and index options, trading volatility and the Greeks that describe an option position's sensitivity to the underlying, time, and implied volatility. The firm's edge sits in pricing options accurately across a chain and managing the resulting portfolio risk as market conditions shift through the trading day.

Belvedere is also known outside pure trading for developing an options trading simulator used in academic finance courses at several universities, which means many candidates arrive at the interview already familiar with the firm's own software and its approach to teaching market making.

The process typically opens with an online application and a probability or options pricing assessment. A first interview, usually with a trader, covers core options concepts and basic mental math, checking whether a candidate can reason about delta and gamma exposure without hesitation.

Later rounds frequently use Belvedere's own simulation software to run a live market-making exercise, where candidates quote and manage a simplified options book while conditions change. A final round typically adds a conversation with senior traders focused on decision-making under pressure and fit with a relatively small, close-knit trading floor.