10 Optiver Quantitative Researcher (New Grad) Interview Questions (2026)
Optiver's new-grad quant researcher loop in 2026 is the most famously mental-math-heavy interview in the industry. The Amsterdam-headquartered market-maker uses standardized assessments globally, with a coin-flip game and 80-question arithmetic test featured prominently. Expect probability puzzles, brainteasers, and trading-game simulations.
By Sam K., Founder, InterviewChamp.AI · Last verified
What is the Optiver Quantitative Researcher (New Grad) interview process?
Recruiter outreach → 80-question mental math test (8 minutes, no calculator) → if pass, probability/brainteaser online assessment → coin-flip game (a live or recorded trading simulation) → onsite of three to four rounds: probability deep-dive, market-making game, fit conversation, sometimes a coding round. Timeline 4-7 weeks. Mental math gate is a real filter — many candidates wash out here.
Behavioral (3)
You are making a market on the outcome of a die roll. You quote a bid and ask for the expected value. The customer can choose to buy at your ask or sell at your bid. How do you set your quote?
Frequently askedOutline
True expected value = (1+2+3+4+5+6)/6 = 3.5. Quote a spread around 3.5 — maybe 3.3 bid, 3.7 ask. Customer choosing to buy at 3.7 means they think EV > 3.7, or they have information. Customer choosing to sell at 3.3 means they think EV < 3.3. After their action, update your prior. Discuss the trade-off between tight spreads (high volume, thin margins) and wide spreads (rare trades, fat margins).
Tell me about a time you made a quick decision under uncertainty.
Frequently askedOutline
STAR. Pick a real instance — could be a hackathon, a project deadline, a research pivot. Walk through the decision framing, what information you had, what you chose, the outcome, and the reflection. Optiver's trading culture is all about decisions under uncertainty — they want to see comfort with imperfect information.
Why Optiver rather than a hedge fund or Wall Street bank?
Frequently askedOutline
Specific reasons: pure market-maker (no clients, no proprietary research bets, no AUM-dependent comp), flat hierarchy, fast career progression for performers, global presence (Amsterdam, Chicago, Sydney, Shanghai, Hong Kong). Reference Optiver's history (founded 1986). Avoid the 'high pay' lead.
Coding (LeetCode patterns) (1)
Implement a function that computes the running maximum over a stream.
Occasionally askedOutline
Track current_max. For each new value, update current_max = max(current_max, value). O(1) per update. For sliding-window variant, use a monotonic deque (decreasing). Walk through both. Common follow-up at Optiver.
Technical (6)
8 × 12.5 = ?
Frequently askedOutline
Recognize 12.5 = 100/8. So 8 · 12.5 = 100. State the trick: 8 and 12.5 are reciprocal-friendly. Optiver's 80-question test expects you to recognize these patterns instantly. Practice common round-number partnerships: 25 = 100/4, 50 = 100/2, 12.5 = 100/8.
I flip a fair coin 5 times. What is the probability of getting at least 3 heads?
Frequently askedOutline
Binomial. Sum C(5,k)·(1/2)^5 for k=3,4,5 = (10+5+1)/32 = 16/32 = 1/2. Recognize the symmetry: in 5 flips of a fair coin, P(at least 3 heads) = P(at most 2 heads) = 1/2 by complementary counting. State the symmetry insight.
What is 65% of 80?
Frequently askedOutline
Two methods: (1) 65% of 80 = 65 · 80 / 100 = 5200/100 = 52. (2) Reframe as 80% of 65 = 52 (multiplication is commutative). Optiver tests these conversions in the 80-in-8 test. Practice swapping to whichever side is easier.
I flip a fair coin until I see heads for the first time. What is the expected number of flips?
Frequently askedOutline
Geometric distribution with p=1/2. E = 1/p = 2. Derive: E = 1 + (1/2)·E (with probability 1/2 you didn't see heads and need to start over). Solve: E/2 = 1, E = 2. Mention variance: Var = (1-p)/p^2 = 2.
Coin flip game: you and I both flip a fair coin. I pay you $3 if both are heads, you pay me $1 if both are tails, no money changes hands otherwise. Is this game fair?
Frequently askedOutline
P(HH) = 1/4, P(TT) = 1/4, P(mixed) = 1/2. Expected value to me: (1/4)·1 - (1/4)·3 + (1/2)·0 = (1-3)/4 = -1/2. So I lose $0.50 in expectation. Unfair to me, favorable to the other player. State the EV calculation clearly. Be ready for follow-up: what payout makes the game fair?
A bat and a ball cost $1.10 total. The bat costs $1 more than the ball. How much does the ball cost?
Occasionally askedOutline
Classic cognitive reflection problem. The intuitive answer ($0.10) is wrong. Algebra: bat = ball + 1, bat + ball = 1.10, so 2·ball + 1 = 1.10, ball = 0.05. Optiver uses these to test whether you pause and verify before committing. State the trap, then the math.
Optiver interview tips
- The 80-in-8 mental math test is a real filter. Practice for weeks before. Topics: two-digit multiplication, division to one decimal, percent conversion, fraction arithmetic, simple square roots.
- Coin flip game: speak your reasoning as you play. Optiver scores on decision quality, not just outcome — wins from luck score lower than losses from sound reasoning.
- Market-making mindset: start wide, tighten as information flows. Embrace the 'I'm uncertain' framing.
- Optiver behavioral rounds screen for low-ego, calm-under-pressure traits. Aggressive storytelling fails.
- Compensation at Optiver new-grad is bonus-heavy and performance-dependent. Show you understand this structure — junior traders earn variable amounts based on their team's P&L.
Frequently asked questions
What questions does Optiver ask in the Quantitative Researcher (New Grad) interview?
This page collects 10 Optiver Quantitative Researcher (New Grad) interview questions: 6 technical, 3 behavioral and 1 coding (LeetCode patterns). The ones candidates report most often: "8 × 12.5 = ?", "I flip a fair coin 5 times. What is the probability of getting at least 3 heads?" and "You are making a market on the outcome of a die roll. You quote a bid and ask for the expected value. The customer can choose to buy at your ask or sell at your bid. How do you set your quote?". Each has an answer outline above.
How long is Optiver's quant research interview process in 2026?
Most candidates report 4-7 weeks from initial contact to offer. The mental-math filter shortens timelines for failures; passing it accelerates the loop.
How hard is Optiver's 80-in-8 mental math test?
Very. 80 arithmetic questions in 8 minutes (6 seconds per question). Passing threshold varies but typically 60+ correct. Topics: multiplication, percent conversion, fraction arithmetic, basic algebra.
What is the coin flip game?
Optiver's signature interview format. You make markets on coin-flip outcomes against an automated counterparty. The system evaluates your bid-ask spreads, position sizing, and decision-making under uncertainty.
Does Optiver sponsor visas?
Yes. Amsterdam HQ supports EU relocations; Chicago supports US H1-B with standard lottery odds. Sydney, Singapore, and Hong Kong offices offer alternative paths.
Can I retake Optiver's interview after rejection?
Yes, after a 12-month cooldown. Mental-math performance is tracked and improvements are expected on re-application.