040: Bryan Wiener – Reflects on His Years as a Pit Trader, and Takes Us to School on the Subject of Options
Chat With Traders
00:00
What Was Your Role in Trading Machines?
After graduating from UChicago, you went to work at trading machines. What was your role there? I was basically like the tech sector trader. We would see orders that were bidding or offering limited orders and options. And we would take them if they offered edge, just like in the pit. In order comes in below my theoretical value, as long as it seemed like a good, there was enough edge for that particular stock. So when it's time to only buy or only sell, I toggle some switches. If the machine thought something was too risky to trade, I might override the machine.
Transcript
Play full episode
