Gas Options Trader
Gas Options Trader
Location: London, United Kingdom
The Opportunity
A leading European energy trading business is seeking an experienced Gas Options Trader to join its London-based proprietary trading team.
This is an exciting opportunity for a commercially minded trader to take ownership of a discretionary natural gas options book, generating returns through volatility, directional and relative value trading strategies across European gas markets. The successful candidate will combine strong risk-taking capabilities with deep options expertise and a thorough understanding of gas market fundamentals.
The role offers significant exposure to some of the most liquid and dynamic natural gas markets globally, with the ability to leverage extensive market intelligence, analytic and cross-commodity insights.
Key Responsibilities
- Manage a proprietary natural gas options portfolio within agreed risk limits.
- Generate P&L through execution of volatility, directional and relative value trading strategies.
- Trade options linked to major European gas hubs including TTF, NBP, THE, PEG and PSV.
- Develop market views based on:
- Supply and demand fundamentals
- Storage dynamics
- LNG flows
- Weather analysis
- Infrastructure outages
- Geopolitical developments
- Identify and execute opportunities across:
- Volatility surfaces
- Calendar spreads
- Regional hub spreads
- Cross-commodity relationships
- Monitor and manage option risk exposures, including delta, gamma, vega and theta.
- Work closely with quantitative, analytics and risk teams to enhance trading performance.
- Contribute market insights, trading ideas and strategic recommendations.
- Continuously develop and refine trading strategies to maximise risk-adjusted returns.
Candidate Profile
Essential Requirements
- Minimum 3 years' experience trading natural gas derivatives or options.
- Proven experience managing a proprietary trading book and taking discretionary risk.
- Strong understanding of European natural gas markets.
- Experience trading options linked to liquid gas hubs such as TTF and NBP.
- Demonstrable track record of generating P&L within a risk-controlled environment.
- Thorough understanding of:
- Options pricing
- Volatility trading
- Greeks management
- Risk management principles
- Strong quantitative and analytical skills.
- Ability to perform effectively in a fast-paced trading environment.
Preferred Experience
- Gas market exposure and understanding of global gas flows.
- OTC and exchange-traded options experience.
- Knowledge of gas, power and cross-commodity relationships.
- Experience using Python, VBA, R or similar analytical tools.
- Background in proprietary trading, commodity trading houses, utilities, banks, hedge funds or market-making environments.
What We're Looking For
The ideal candidate will be an entrepreneurial trader who enjoys taking risk and identifying market opportunities. You will possess strong commercial instincts, disciplined risk management and the ability to develop and execute profitable trading strategies independently.
This role would suit a trader looking for greater autonomy, increased responsibility and the opportunity to build a long-term career within a highly regarded energy trading platform.
FAQs
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