Ex-IMC Semiconductors Quant: AI Is Good Enough to Beat the S&P 500

Podcast: Odds on Open · Ethan Kho

Opublikowano: 2026-09-17

Lihong Wang spent his career as a discretionary options trader at IMC, one of the world's largest market makers, trading semiconductor volatility on names like Nvidia, AMD, and Broadcom. In this episode, he breaks down how a prop trading desk actually makes money: reading order flow to identify counterparties, trading against structured product hedging flows from Asian banks, warehousing benign risk instead of externalizing it, and why correlation blowups — like the DeepSeek selloff and July's deleveraging cascade — are how options market makers get hurt. He explains why the seat at a top trading firm is one of the most leve...