Wolverine Trading Interview Questions
A representative Wolverine Trading quant-interview practice set — options pricing, expected value and probability — matched to how the firm interviews, each with a full worked solution.
Inside the Wolverine Trading interview
Wolverine Trading is a Chicago-based options market-making firm, and its interviews are built to find fast, calibrated thinkers: clean options intuition, sharp expected-value reasoning, and the kind of probability and brain-teaser work you can do out loud under a clock.
What they test
The core is expected value and probability done quickly and correctly — coin-flip and dice payoff games, Bayes-rule updates, gambler's ruin, and pattern races. Around it sits an options-pricing block (binomial steps, put-call parity, replication and payoff diagrams) and a cluster of market-making and Kelly bet-sizing games where you must quote a fair value and size a bet, not just compute one number.
The recurring shapes
Expect optimal-stopping games (when to keep a roll vs. re-roll), put-call parity and static replication of an arbitrary payoff from calls and puts, Bayesian updating from a noisy witness or signal, and balance-scale deduction (find the odd coin or ball in two or three weighings). Sicherman dice and Catalan-number counting show up as the combinatorial curveballs.
How to approach
Lead with the fair value, then a tight range — market makers reward a quick honest estimate over a slow exact one. Anchor option questions on no-arbitrage (parity, replication, one-step binomial) rather than memorized formulas, and on EV questions write the recursion or the stopping rule before plugging numbers. Say your assumptions out loud so the interviewer can follow your edge.
The mix leans medium, with a few easy warm-ups (payoff diagrams, Birthday, Monty Hall) and three hard capstones (twelve-ball weighing, Sicherman dice, arbitrary-payoff replication).
Wolverine Trading options pricing questions (5)
Wolverine Trading expected value questions (5)
Wolverine Trading probability questions (5)
Wolverine Trading brain teasers questions (3)
Wolverine Trading combinatorics questions (3)
Wolverine Trading game theory questions (3)
Wolverine Trading interview FAQ
What kind of questions does Wolverine Trading ask in quant interviews?
Candidates most often report options pricing, expected value and probability questions. This page collects 24 of them — each with a full worked solution.
How hard are Wolverine Trading interview questions?
The set spans 6 easy, 15 medium and 3 hard problems. Most sit at medium difficulty — solvable in a few minutes with clean reasoning — with a harder tail that rewards knowing the canonical tricks.
How do I prepare for the Wolverine Trading quant interview?
Work through this set by topic (use the sidebar), starting from your weakest area. 12 problems are free to open with their full solution, so you can judge the quality before anything else. Then broaden out with the related firms below — the question families overlap heavily.
Are these the actual Wolverine Trading interview questions?
This is a representative practice set matched to how Wolverine Trading interviews — chosen from our bank by topic and style rather than claimed as verbatim reports. Every problem carries a full worked solution.