The Chicago Trading Company Probability / Options Concept Interview is stage 4 of 6 in the Chicago Trading Company interview process, after the Core-Values Behavioral Screen. Format: 45–60 min · with a trader / researcher. The technical round, drawn directly from CTC's QTA prep-guide topics: probability, conditional probability / Bayes, expected value, common distributions, independence, confidence intervals, and market-making bid/ask intuition.
Preparing for this round? Open the Chicago Trading Company Probability / Options Concept Interview in the interview funnel. A free account saves your progress.
What the Probability / Options Concept Interview tests
Problems are trading-flavored and concept-driven: they want clean reasoning applied to a setup, not a memorized formula.
- The technical round runs 30 to 45 minutes: mental maths, expected value, estimation questions with a confidence range, and questions on your CV.
How to prepare for the Probability / Options Concept Interview
- Master the QTA primer topics as reflexes. EV of a bet, conditional probability / Bayes updates, and the shape of common distributions should be instant.
- Think like a market maker. For pricing questions, state a fair value, put a credible spread around it, and widen with uncertainty — narrate the risk.
- Estimate, then refine. Give a fast point estimate and a bound before committing; talking through the setup scores more than a fast opaque number.
Further reading: Market-making game interview guide · How quant superdays work · Behavioral questions at trading firms.
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Frequently asked questions
What is the Chicago Trading Company Probability / Options Concept Interview?
It is stage 4 of 6 in the Chicago Trading Company interview process, after the Core-Values Behavioral Screen. Format: 45–60 min · with a trader / researcher. The technical round, drawn directly from CTC's QTA prep-guide topics: probability, conditional probability / Bayes, expected value, common distributions, independence, confidence intervals, and market-making bid/ask intuition. Problems are trading-flavored and concept-driven: they want clean reasoning applied to a setup, not a memorized formula.
How long is the Chicago Trading Company Probability / Options Concept Interview?
Candidates report: 45–60 min · with a trader / researcher.
How should I prepare for the Chicago Trading Company Probability / Options Concept Interview?
Master the QTA primer topics as reflexes. EV of a bet, conditional probability / Bayes updates, and the shape of common distributions should be instant. Think like a market maker. For pricing questions, state a fair value, put a credible spread around it, and widen with uncertainty — narrate the risk.
What comes after the Probability / Options Concept Interview?
The Trading / Market-Making Game (stage 5 of 6). Format: Interactive · with a trader.
Practice the Chicago Trading Company Probability / Options Concept Interview round
Open the round in the Chicago Trading Company funnel: the round notes, prep, and every other stage of the process.