Trader (Convertible Bonds)

WHO WE ARE

PEAK6 Capital Management is a proprietary options trading firm that has been defining the industry for more than 25 years. While many firms have come and gone PEAK6 Capital Management has consistently delivered liquidity to the options market. We thrive due to our firms special blend of financial acumen ability to manage risk and cutting-edge technology.

Our success is driven by our team of technologists engineers and traders who leverage proprietary tech and a data-centric approach to maintain inventory and stay ahead of the markets so customers can too.

ABOUT THIS ROLE

We are seeking a Convertible Bonds Trader to join our Equity Capital Markets team with a specific mandate around volatility-driven strategies. This is a hands-on role for someone who understands convertible arbitrage mechanics and wants to build a career around trading the volatility component of converts (gamma vega skew) alongside credit and equity-linked risk.

Youll be Responsible for:
Trade convertible bonds with an emphasis on the embedded optionality managing gamma vega and volatility exposure across the book
Identify and execute relative value opportunities between convertible bonds their underlying equity listed options and credit
Monitor and hedge delta gamma and vega exposures in real time; adjust hedges as underlying equity and implied vol shift
Build and refine pricing/valuation views using derivatives pricing tools challenging model outputs against market-observed levels
Analyze issuer credit quality capital structure and fixed income terms (yield-to-worst conversion premium credit spread) as inputs to trade decisions
Partner with senior traders on position sizing risk limits and book construction
Stay current on primary issuance calls/puts corporate actions and other events that affect convert valuations

YOUR EXPERIENCE:
25 years of experience trading or supporting a trading function in convertible bonds equity derivatives or
volatility products
Strong grounding in options theory (Black-Scholes Greeks vol surfaces skew/term structure dynamics)
Solid fixed income math (yield curves duration credit spreads YTW/YTM/YTC mechanics)
Proficiency with Bloomberg (CBs OMON derivatives pricing functions) and other derivatives pricing/analytics platforms
Demonstrated ability to think in terms of risk (Greeks) rather than just price
Strong quantitative reasoning and comfort making decisions under uncertainty and time pressure
Excel proficiency required; Python or other scripting ability a plus for automating analysis
A competitive self-directed mindset suited to a prop trading environment youll be given real risk and expected to earn more of it
No specific degree required but a track record and demonstrated market knowledge matter

OUR REWARDS

We offer a robust package of employee perks and benefits including healthcare benefits (medical dental and vision EAP) competitive PTO 401k match parental leave and HSA contribution match. We also provide our employees with a paid subscription to the Calm app and offer generous external learning and tuition reimbursement benefits. As a hybrid workforce we offer our employees the ability to work remotely up to two days a week.

Base pay offered may vary depending on job-related knowledge skills experience and office location. This position also may be eligible for a discretionary annual bonus in addition to a range of health & wellness benefits enhancing your overall compensation package.

Base Salary Range

PEAK6 is proud to be an equal opportunity employer that does not discriminate on the basis of race color religion sex (including pregnancy sexual orientation and gender identity) national origin age disability veteran status marital status or any other protected characteristic. Our hiring practices ensure that all qualified applicants receive fair consideration without regard to these characteristics.

PEAK6 is committed to creating an inclusive and accessible workplace for all candidates including those with disabilities. We are dedicated to ensuring equal employment opportunities and providing reasonable accommodations to qualified individuals with disabilities. If you require reasonable accommodations to participate in the application or interview process please contact our HR department at We will work with you to provide the necessary accommodations to ensure your full participation in our hiring process.

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