Senior Options Portfolio Manager

Role Description

Run a discretionary options book inside the proprietary strategy group of an established multi-strategy investment platform. The seat sits on a team that manages roughly $1.7B notional in put-side and volatility exposure across US equity indices and single names. You'd own a sub-book within that mandate and report into the head of the strategy group.

This is a backfill, not a build. Infrastructure, risk framework, prime brokerage, and back office are already in place. Your job is to put on trades, manage greeks, and produce P&L.

What you'll do

• Construct and manage a discretionary options book — primarily puts, put spreads, and vol structures across SPX, sector ETFs, and large-cap single names.
• Sit at the intersection of macro view and structural carry: most positions are held weeks to quarters, not days.
• Manage greeks — delta, gamma, vega, theta — actively. Hedge dynamically.
• Coordinate with the broader strategy group on overlay positioning, tail hedging, and book-level vega exposure.
• Own attribution. P&L is yours. So is the explanation when it doesn't work.

Qualifications

• 8–15 years managing or running an options book at a hedge fund, prop shop, vol boutique, or asset manager overlay seat.
• Discretionary (not systematic) options experience. You make the trade decision.
• Demonstrable P&L track record across at least one full vol cycle (ideally including 2018, 2020, 2022).
• Fluency with put structures, vol surface dynamics, and tail risk hedging.
• Comfort sizing positions against a live notional book in the high hundreds of millions to low billions.

Requirements

• Background at one of: a recognized vol boutique (Capstone, Parallax, Universa, Artemis, Long Tail Alpha, QVR, Ambrus, True Partner), an asset manager overlay seat (Parametric, Eaton Vance, PIMCO, Nuveen, BlackRock, GS AM), or a multi-manager pod focused on options or vol relative value.
• CFA, CMT, or equivalent quant credentials.
• Published thought leadership on volatility, tail hedging, or convexity strategies.

Benefits

• Comp is competitive with senior options PM seats at top vol-focused funds — guaranteed base, signing arrangement, and a P&L-linked bonus structure with meaningful book economics. Specifics shared under NDA after a screening conversation.

Process

• This is a confidential, retained search. The hiring firm will not be named in initial outreach. Qualified candidates will receive a full company brief and meet the principal portfolio manager before any decision points.
• If your background fits, reply to this thread or reach out directly. Initial conversation is 30 minutes, no commitment.
• Search managed by TalentCollyde. All inquiries held in confidence.