I was wondering if anyone could give me any insight on how to land a Clerking/Runner position at the CBOE. Im a recent college grad and have my sights set on starting at the bottom of a firm and learning the trade. If anyone could help me out it or give me any pointers it would be greatly appreciated! Thanks
Like Mav said, these positions are things of the past. Pits are gone for the most part. I suggest to start reading this forum and try to figure out what kind of trading interests you.
look on craigslist sometimes they have stuff on there...or find a firm that is on the floor and see if they have jobs.
The only actual trading pit left at the CBOE is the SPX. There are no CBOE clerking jobs available with trading firms. To get an entry level job with a CBOE trading company you will need either quant or programming skills. I suggest you look at the CME/CBOT companies, or perhaps even NYMEX trading firms. If you really want to get into the cboe floor, you could apply with some of the brokerage companies or perhaps with the exchange itself. It is always easier to find a job when you are in the game somehow. Do not send a resume to these companies. Walk in their door, sahke someone's hand and tell them you are eager to do whatever it takes to have a career in the business. Here's a few ideas though... http://www.lakeshoresecurities.com/about_us.html --a brokerage company which still emphasizes human relationships as their main asset. http://www.belvederetrading.com/ -- a large, mainly SPX trading firm. They actually have "trading assistant" in their job openings section. http://www.chicagotrading.com/ --a very diversified derivatives trading company. Amazingly enough they have a "TA" or trading assistant job opening as well. Again, I would highly suggest you hand off a resume in person. An emailed resume will get trashed.
I still believe if you want it bad enough you can find a spot. The cme and cbot still have some very active options pits as well. If you are in Chicago get a stack of resumes and go down to van buren st between the two exchanges. Be aggressive as one of the bums out there selling "street wise". Talk to everyone who will listen...and when they say no...ask them if they know anyone who might be hiring. If someone sees you there for three or four days in a row and wanting it bad you just might get your shot. Go to Ceres in the cbot and hangout also. Just dont give up. It really all depends on how bad you want it. Im going to say it one more time....It all depends on how bad you want it! I worked for one of the above firms for alomost 10 years. Yea it was easier back then no doubt but this is exactly how I did it. Make yourself know my man! Jim