All Options is a proprietary trading firm headquartered in Amsterdam, with an office in Austin, specialising in equity derivatives market making. The process blends fast technical screening with a genuine emphasis on fit, and the firm has been pivoting toward quantitative trading since 2019, which shows in what the later rounds ask about.
The first thing to establish is which role you applied for, because the opening assessments differ.
- 1Online assessments. Two or three timed tests, and which ones depends on the role.
- 2HR interview. 30 to 45 minutes on motivation, fit and basic trading knowledge.
- 3Technical interview. 45 to 60 minutes with one or two traders.
- 4Superday. A full day combining everything, with senior staff.
Stage 1: Online assessments
| Role | Tests you sit |
|---|---|
| Graduate Trader | Maths test, then sequences test |
| Junior Quant Trader | Sequences test, then a coding assignment. A probability test was part of this historically, but see the note below |
The maths test
80 rapid-fire arithmetic questions in 8 minutes, so 6 seconds each. No calculator and no scratch paper. It covers addition, subtraction, multiplication and division across integers and decimals, plus estimation and rounding.
At that pace, recognising common decimal and fraction conversions instantly is worth more than raw calculation, so drill those on the fractions to decimals trainer alongside the Math Trainer. Rounding and estimating shortcuts are how you buy back time.
The sequences test
26 sequence questions in 5 minutes, identifying the logic in a series and predicting the next value. Expect arithmetic and geometric sequences, and alternating or compound patterns.
At under 12 seconds a question, knowing when to abandon one and guess is a real part of the skill. Drill the pattern types on the Sequence Trainer, and our guide to sequence problems covers the families that recur.
The probability test
We have not heard from candidates sitting this one recently, so it may no longer be part of the process. Prepare for it if your invitation names it, and otherwise treat the probability work below as useful for the technical rounds rather than for a test.
10 questions, each with its own 180-second limit, and the scoring is what made this one different:
- +1 for a correct answer
- −1 for an incorrect answer
- 0 for a skipped or timed-out question
Because wrong answers are penalised and skipping is free, guessing is strictly worse than passing when you genuinely do not know. That is the opposite of most trading assessments, so do not carry the "never leave a blank" habit into this one.
The questions run to dice, cards and coins, plus logic-based probability and estimation. Work the probability questions, the cards and coins collection and the questions reported at All Options, and make sure combinations and permutations are solid.
The coding assignment
Junior Quant Trader applicants only, and it comes after the online tests. Basic algorithm problems, with Python an advantage. Refresh loops, conditionals, lists and dictionaries, and write for readability as well as correctness.
Stage 2: HR interview
A 30 to 45 minute phone or video call on cultural fit, motivation and whether you understand what the firm does.
What comes up
- Why you want to be a trader, and why All Options specifically
- What a market maker is
- What call and put options are
- Whether you follow the markets
How to prepare
Have an authentic story for why trading, and be honest if you are interviewing elsewhere. Know about the firm's pivot toward quantitative trading since 2019, since it explains a lot about the current process. Follow the financial headlines, particularly anything touching options markets, and show some entrepreneurial energy.
Stage 3: Technical interview
45 to 60 minutes with one or two traders, by video or in person, on your trading knowledge, problem solving and decisions under pressure.
What they cover
- Mental maths, continuing from the assessment, on the Math Trainer.
- Market making, such as quoting a bid and ask on a mystery value. Read our make me a market guide and practise on the dice game and the card game.
- Brainteasers, classic puzzles plus logic and estimation. The questions reported at All Options are the targeted set.
- Options theory, covering the Greeks, arbitrage and implied volatility. Our asset classes and trading products course and the option theory questions both cover it.
Questions people actually get
- What happens to delta as the stock price rises?
- How would you hedge a long put position?
- If a coin is flipped 10 times, what is the chance of exactly 4 heads?
Think out loud throughout, and stay steady when you are challenged, since being pushed is part of the format rather than a sign it is going badly.
Stage 4: Superday
A full day, onsite or as a long video call if you are not near the Netherlands, mixing technical, cultural and scenario interviews with short breaks. You meet several team members including senior staff.
What it covers
- A re-examination of both the technical and the fit questions
- In-depth trading and options strategy scenarios
- Open-ended prompts such as describing a trading strategy you find interesting, or what you would do in a given market situation
- Informal conversations aimed at personality and fit
Scenarios that come up
- How would you approach market making in a thinly traded stock option?
- What risks would you watch for when quoting a large trade?
How to prepare
Revisit every earlier round and sharpen the answers that were merely adequate. Keep your energy consistent across the day. Ask real questions about training, culture and expectations, and treat it as mutual: you are deciding about them too.
Closing remarks
All Options runs a structured and unusually transparent process that rewards speed, solid fundamentals and the right attitude. The candidates who do well are not simply the quickest; they are the ones who prepared for the specific formats and can show genuine curiosity about the firm.
Work through everything we have for All Options, and read our full interview guide for how these stages compare across firms.