Quant case studies, worked step by step

Cases
100
Traced to a firm
43
Topics
11
Hard
30
Topic
All topicsSignal research and data tasks10Options and volatility trading10Market-making games14Portfolio construction10Strategy evaluation and backtests9Execution and market microstructure8Fixed income and credit8Regression and model review8Risk measurement and limits9Statistical arbitrage and event trades8Position sizing and bankroll6
Level
AnyWarm upCoreHard
Source
AnyReported at a firmStandard
Showing 1–7 of 7 · filtered from 100Clear filters
  1. 024You are long 10 contracts on the number of sixes in 30 dice, bought at an average of 5.2 at Rs 100 a point, when the interviewer reveals that none of the first 12 dice shows a six. Reprice, mark your P&L and decide whether to cut.Market-making gamesCoreOptiverAmsterdam · 2023
  2. 026You and three computer quoters make markets on the sum of five cards drawn from one suit numbered 1 to 13. Each bot has seen one card and its mid is 37, 33 or 39. What did each bot see, and where do you quote?Market-making gamesCoreOptiverChicago · 2025
  3. 048Make a market on the product of two dice. The fair value is 12.25 with a standard deviation near 8.9 and a long right tail. How wide are you for one lot and for ten, and which way do you lean?Market-making gamesCoreCitadelNew York · 2025
  4. 073You are making a market on the number of sixes in twelve dice. After you quote, six of the dice are revealed and exactly one of them is a six. Reprice, and explain what happens to your width even though the fair value does not move.Market-making gamesCoreQuant tradingOptions market making
  5. 077Make a market on the number of cars parked at a large suburban mall at 1 pm on Saturday: four levels of about 250 bays, occupancy somewhere between 70% and 90%. Then the interviewer sells to your bid three times in a row. How do you quote, and how do you update?Market-making gamesCoreDRWChicago · 2025
  6. 088The interviewer asks for a market on the maximum of four fair dice, then lifts your offer twice in a row at 5.4. What is the contract worth, how wide should the market be given its skewed distribution, and how do you requote?Market-making gamesCoreOptiverSan Francisco · 2026
  7. 098Corvinta runs two markets on the same pair of dice: A settles at their sum and B at the first die minus the second. Another player quotes A at 6.5 bid, 7.5 offer and B at -0.5 bid, 0.5 offer. The first die is revealed as 5. Update both fair values and find the trades.Market-making gamesCoreCitadelLondon · 2026

Company names and figures are illustrative.