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
Showing 1–5 of 5 · filtered from 100Clear filters
- 003You make a market in a coin-flip contract paying Rs 100 on heads. One trade in four is the interviewer, who knows the outcome and trades only when it helps; the rest is balanced. What is the narrowest breakeven spread, and what does quoting 45 at 55 cost over 40 trades?Citadel SecuritiesLondon · 2026
- 014A contract settles at a die roll, doubled if a coin lands heads, plus 5 if a drawn card is red. Quote it, then decide whether to trade with a bot showing 9.5 bid, 10.5 offer, and whether to make or take.OptiverAustin · 2025
- 050Three players are each dealt one card from 1 to 10 without repeats, and the contract settles at the highest card. You hold a 7. Price it, then reprice after another player immediately bids 8.5.Belvedere TradingChicago · 2022
- 062A bag holds four stones, each black or white, with every count of black stones from 0 to 4 equally likely. Two stones drawn without replacement are both black. Make a market on a contract paying Rs 100 if the third stone is black, then respond when the interviewer lifts your offer at 80.CitadelNew York · 2025
- 075A contract settles at the sum of three cards drawn without replacement from ten cards numbered 1 to 10, at Rs 100 a point. Quote a two-way market before any card, after the first card shows 9, and after the second shows 2, keeping pace with the dealer.OptiverChicago · 2026
Company names and figures are illustrative.