Career track · Derivatives

Derivatives Foundation

Every contract obliges someone to do something. You work through payoffs, breakeven and moneyness, the Greeks as a risk report shows them, and the basis a hedge leaves.

Derivatives Foundation careers are found across firms like

J.P. Morgan
Goldman Sachs
Jane Street
Optiver
Citadel Securities

Company names are shown as industry examples only; no partnership or affiliation is implied.

Priority 01

Core

cannot work the seat without these.

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What’s inside

Derivatives, Hedging & Structured Products

Practise the questions firms actually asked

100 real Derivatives Foundation interview questions from 19 firms, each with a model answer and the mistakes to avoid.

Asked at Morgan Stanley, Nomura and 17 more firms

Practise interview questions

Crack the puzzles interviewers love

100 Derivatives Foundation brainteasers, from probability to mental maths. Try each one first, then read the worked solution.

66 traced to firms
12 topics
29 hard ones

Solve the puzzles

Work the cases like a real round

100 Derivatives Foundation case studies: a business, its numbers and a task. Work it on paper, then open the solution one step at a time.

12 traced to firms
12 topics
29 hard ones

Work the cases

Case 022Core

On a Rs 1,000 stock, compare a covered call, a protective put and a long straddle over three equally likely outcomes of 850, 1,000 and 1,150. Which makes more money on average, which has the more volatile P&L, and where does each come from?

1What does each strategy pay in each outcome?
2Which makes more money on average, and which is more volatile?
3Where does each strategy's average P&L come from?

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Core

Derivatives, Hedging & Structured Products

Practise the questions firms actually asked

Crack the puzzles interviewers love

Work the cases like a real round

Duration and What It Does Not Tell You

Bond Pricing and Yield Mechanics

Tax Aware Portfolio Decisions

Credit Exposure and How It Is Reduced

Value at Risk and What It Hides

Common Size and Trend Analysis

Reading a Cash Flow Statement

Ratio Analysis That Says Something

Building a Working Capital Schedule

Backtesting a Strategy

Hypothesis Testing

Cleaning Financial Data

Regression for Finance

Hedging a Real Exposure

The Greeks, Practically

Futures, the Basis and What Moves It

Reading an Option Payoff

Rebalancing: When, Why and What It Costs

Strategic and Tactical Asset Allocation

Measuring Risk in a Portfolio

Writing an Investment Thesis

Reading an Annual Report Fast

Reading a Sector Before a Company

Spotting Quality of Earnings Red Flags

Short Selling Mechanics

Long Short Mechanics

Fund Waterfalls and Carry

The LBO in Structure

Analysing an Issuer's Credit

Building a Client Risk Profile

Goal Based Planning Arithmetic

Precedent Transactions and Why They Differ

Reading a Term Sheet Structurally

Building a Comparable Companies Table

Sizing a Market

Reading a Term Sheet as a Founder

How a Venture Round Actually Works

Retrieval and Grounding for Finance

Document Extraction in Finance

Comparing Funds Without Being Fooled

How a NAV Is Struck and Which Day You Get

Reading a Fund Factsheet Properly

Building a Discounted Cash Flow

Building a Revenue Forecast From Drivers

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