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Sr. Trader - Options

Building the Future of Crypto 

Our Krakenites are a world-class team with crypto conviction, united by our desire to discover and unlock the potential of crypto and blockchain technology.

What makes us different?

Kraken is a mission-focused company rooted in crypto values. As a Krakenite, you’ll join us on our mission to accelerate the global adoption of crypto, so that everyone can achieve financial freedom and inclusion. For over a decade, Kraken’s focus on our mission and crypto ethos has attracted many of the most talented crypto experts in the world.

Before you apply, please read the Kraken Culture page to learn more about our internal culture, values, and mission. We also expect candidates to familiarize themselves with the Kraken app. Learn how to create a Kraken account here.

As a fully remote company, we have Krakenites in 70+ countries who speak over 50 languages. Krakenites are industry pioneers who develop premium crypto products for experienced traders, institutions, and newcomers to the space. Kraken is committed to industry-leading security, crypto education, and world-class client support through our products like Kraken ProKraken NFT, and Kraken Futures.

Become a Krakenite and build the future of crypto!

Proof of work

The team

Kraken’s OTC desk is a market leader in one of the most innovative and fast-growing industries in the world. Renowned for our white-glove service, we provide market-making to clients globally, 24/7. Offering deep liquidity for tighter spreads, we deliver a private and personalized service for institutional clients and high-net-worth individuals executing large orders. Our OTC desk ensures discreet, secure, and ultra-competitive execution and settlement services.

We’ve established ourselves as a dominant OTC desk for spot trading, built an options desk to service institutional clients, and recently launched structured products. Now, we’re on the hunt for a new Senior Trader who is curious and passionate about advancing the mainstream adoption of cryptocurrency and the technology behind it. That’s where you come in!

As the Senior Trader, you will primarily work with our options team to interface with clients, price and risk manage options trades, and cover operational aspects of settlement. You will also gain exposure to the spot and lending desks and may assist in coverage of those operations from time to time.

Reporting to a Director, this individual contributor role offers a fantastic opportunity for a motivated trader eager to shape the future of crypto from a leading position within a top-tier brand.

The Opportunity

  • Provide white-glove derivatives sales trading coverage to OTC institutional clients, pricing and trading vanilla options, and managing associated hedges.

  • Manage day-to-day delta hedging and risk management of the client options book.

  • Assist with operational aspects, including trade settlement and collateral monitoring across platforms and clients.

  • Contribute to the 24/7 coverage of the OTC desk offering trading and operational support as needed due to staffing or market conditions.

  • Collaborate with internal teams (operations, accounting, and settlement) to ensure accurate settlement of transactions.

  • Work alongside other Kraken traders and cryptocurrency researchers to enhance market knowledge and expertise.

  • Drive client and volume growth for the OTC desk with both new and existing clients.

Skills you should HODL

  • A minimum of 3 years of trading experience, including at least 1 year in options within the financial services and/or crypto space, with a strong understanding of the products. Experience with other trading desks, such as OTC and spot, is an added advantage.

  • Experience in trade execution, options pricing and risk management, strong understanding of electronic trading systems, covering front-to-back processes.

  • Experience with operational processes and safeguards, with strong attention to detail.

  • Demonstrated ability to build and maintain relationships with institutional clients.

  • A track record of driving sales and expanding business within the HNWI and institutional sales segment.

  • Strong quantitative and analytical skills; proficiency in Python or other coding languages is a plus.

  • Passion about the cryptocurrency world and most importantly a learning attitude about new crypto-industry trends.

  • Believe wholeheartedly in the crypto, cypherpunk, libertarian values of Kraken described in our Tentaclements document.

  • This is a remote position based in the NORAM region (USA and Canada). You must be willing to work NORAM hours and weekends as needed.

#LI-DM1 #LI-Remote #USNNY #CANUS

This job is accepting ongoing applications and there is no application deadline.

Please note, applicants are permitted to redact or remove information on their resume that identifies age, date of birth, or dates of attendance at or graduation from an educational institution.

We consider qualified applicants with criminal histories for employment on our team, assessing candidates in a manner consistent with the requirements of the San Francisco Fair Chance Ordinance.

Kraken is powered by people from around the world and we celebrate all Krakenites for their diverse talents, backgrounds, contributions and unique perspectives. We hire strictly based on merit, meaning we seek out the candidates with the right abilities, knowledge, and skills considered the most suitable for the job. We encourage you to apply for roles where you don't fully meet the listed requirements, especially if you're passionate or knowledgable about crypto!

As an equal opportunity employer, we don’t tolerate discrimination or harassment of any kind. Whether that’s based on race, ethnicity, age, gender identity, citizenship, religion, sexual orientation, disability, pregnancy, veteran status or any other protected characteristic as outlined by federal, state or local laws. 

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Average salary estimate

$150000 / YEARLY (est.)
min
max
$120000K
$180000K

If an employer mentions a salary or salary range on their job, we display it as an "Employer Estimate". If a job has no salary data, Rise displays an estimate if available.

What You Should Know About Sr. Trader - Options, Kraken

Are you ready to join a trailblazer in the crypto world? Kraken is on the lookout for a passionate and driven Sr. Trader - Options to enhance our dynamic OTC desk. At Kraken, we don’t just follow trends; we create them by empowering individuals through cryptocurrency. As a fully remote company, you'll be joining a diverse family of Krakenites dedicated to making financial freedom accessible to everyone around the globe. In this role, you'll engage with institutional clients, deftly managing options trades while ensuring all operational aspects run smoothly. Your expertise will shine as you work on delta hedging, trade settlement processes, and driving growth for our OTC desk. Plus, with your proven ability to build relationships and your keen analytical skills, you’ll thrive in a role where your contributions directly impact our mission. If you have a minimum of three years of trading experience, particularly in options, and you possess a strong understanding of execution and risk management, we want to hear from you! Dive into the crypto revolution with Kraken and help us shape the future of finance. It's time to unlock new opportunities and be part of an innovative team that's just getting started.

Frequently Asked Questions (FAQs) for Sr. Trader - Options Role at Kraken
What are the primary responsibilities of the Sr. Trader - Options at Kraken?

As the Sr. Trader - Options at Kraken, your main responsibilities include providing white-glove derivatives trading coverage for OTC institutional clients, managing the day-to-day delta hedging and risk of client options books, and overseeing operational aspects such as trade settlement and collateral monitoring. Your role is crucial in ensuring smooth trading operations and enhancing client services.

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What qualifications are required for the Sr. Trader - Options position at Kraken?

To be considered for the Sr. Trader - Options position at Kraken, you should have at least three years of trading experience, with a minimum of one year in options trading. A strong understanding of electronic trading systems, operational processes, and the ability to build relationships with institutional clients are vital. Proficiency in coding languages like Python is a plus.

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How does Kraken support its Sr. Trader - Options in achieving their goals?

Kraken supports its Sr. Trader - Options by fostering a collaborative work environment and providing continuous growth opportunities. You'll work alongside seasoned traders and cryptocurrency researchers, enhancing your market knowledge and expertise while driving client and volume growth for the OTC desk. Kraken's commitment to its mission also ensures that team members are aligned and supported in achieving financial inclusion globally.

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What makes a successful Sr. Trader - Options at Kraken?

A successful Sr. Trader - Options at Kraken is someone who is deeply passionate about cryptocurrency, possesses strong analytical skills, and demonstrates a track record of driving sales in institutional environments. The ability to maintain relationships with clients, attention to detail, and a learning attitude toward new market trends are essential traits for this role.

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Is the Sr. Trader - Options position at Kraken a remote role?

Yes, the Sr. Trader - Options position at Kraken is fully remote. You’ll be part of a global team, collaborating with colleagues from 70+ countries while working flexible hours suitable for the NORAM region. This setup promotes a diverse and inclusive work environment, allowing you to balance your professional and personal life effectively.

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Common Interview Questions for Sr. Trader - Options
What strategies do you implement for effective delta hedging in options trading?

When discussing delta hedging strategies, it's important to explain the process of balancing the option's delta with positions in the underlying asset. Mention your experience in using models to forecast price fluctuations and how you adjust your approach based on market movements. Providing examples from your past experience can illustrate your capability.

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How do you assess the risk management practices within your options trading operations?

In addressing risk management practices, highlight the importance of having robust protocols in place for monitoring open positions, collateral, and market conditions. Discuss tools and techniques you utilize for assessing risk, such as value-at-risk (VaR) analyses, and your experience in implementing contingency plans to mitigate unexpected market movements.

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Can you explain your experience working with institutional clients in an OTC setting?

When discussing your experience, emphasize specific interactions with institutional clients, focusing on how you tailored your services to meet their unique needs and preferences. Share examples of successful transactions, your approach to relationship building, and how you maintained trust and communication during the trading process.

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What is your approach to pricing options in volatile markets?

In volatile markets, your pricing strategy should encompass assessing the volatility and liquidity of the underlying asset while setting realistic bid-ask spreads. Discuss your experience using quantitative models to adjust pricing dynamically and explain how your knowledge of the market allows you to provide competitive rates to clients.

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How do you keep up with trends and news in the cryptocurrency space?

Staying informed is critical in the fast-paced crypto environment. Share strategies you use to stay updated, such as following industry blogs, social media, and news platforms dedicated to cryptocurrency, along with your involvement in communities discussing emerging trends and innovations in the field.

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What methods do you utilize for trade execution in fast-moving markets?

Effective trade execution in fast-moving markets requires leveraging electronic trading systems and algorithms. Detail your experience with different trading platforms and how you ensure timely and strategic execution through using smart order routing and spread management techniques.

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Describe a challenging situation you faced as a trader and how you handled it.

When presenting a challenging situation, focus on your thought process and decision-making. Discuss the factors you evaluated and the actions you took to resolve the issue while highlighting the results that followed. Emphasizing your adaptability and problem-solving skills will be valuable.

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How important is teamwork in your trading experience?

Teamwork is essential in trading environments, especially when collaborating on complex transactions. Discuss how you share insights with your colleagues, support each other in market analysis, and ensure accurate settlement processes through collective efforts. Highlight examples where teamwork led to successful outcomes.

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What trading technology do you find most useful, and why?

In your response, mention specific technologies, tools, or platforms that enhance trading efficiency, such as algorithmic trading software, risk management systems, and data visualization tools. Explain how these technologies improve decision-making and streamline operations.

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Why do you want to work at Kraken as a Sr. Trader - Options?

Share your enthusiasm for Kraken’s mission and how it aligns with your values, particularly regarding financial inclusion and the growth of the crypto space. Discuss your admiration for the company’s innovative approach, commitment to security, and a collaborative culture that supports personal and professional growth.

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DATE POSTED
January 12, 2025

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