An interview with an options analyst

June 2026

Professional portrait of Ethan Wong, options analyst

Ethan Wong works out of Toronto as an options analyst for a Canadian asset management group. We spoke about his daily workflow, how he applies option implied probability in practical scenarios, and what advice he would offer to anyone new to the field. The conversation covered real-world challenges, teamwork, and the kind of skills that help you stay useful in a shifting market.

Tell us about the work you do day to day—what’s your routine, and where does option implied probability fit in?

Most people think my work is just spreadsheets and theory, but it’s a lot more hands-on. A typical day starts with looking over the overnight market data—option prices, volatility shifts—and seeing what’s changed. I’ll sketch out a few implied probability distributions by hand before ever touching our bigger models. You learn to spot when the numbers don’t match the story, and that’s where experience counts. Some days are long, especially when things swing unexpectedly, but the variety keeps you honest. It’s not about finding a magic number, but about staying consistent and explaining your reasoning clearly to the rest of the team.

What’s been the most rewarding—and most challenging—part of the role so far?

The biggest highlight is when you see your analysis actually shape a team’s risk conversation. Sometimes you flag a scenario no one else considered, and it gets real attention. That said, the tough part is when a probability curve points somewhere uncomfortable—maybe toward more uncertainty, not less. You’ve got to make the case anyway, even if it slows down decision-making. What I appreciate is that, over time, colleagues start to value the clarity, even if it’s not always what they want to hear.

How do teams typically share knowledge or support each other in your area?

You get a real mix. Some come in with a knack for math but struggle with market quirks, others the reverse. What stands out is that the folks who last don’t panic when the data gets messy—they stick to a process, check their work, and stay transparent. We run lots of informal review sessions, not just to nitpick but to show how we handle unknowns. That builds a sense of trust, and honestly, it makes everyone sharper.

If you could give advice to someone just starting out in option implied probability, what would you say?

My main advice? Don’t be afraid of not knowing everything on day one. Early on, I tried to solve everything myself and burned out. Instead, lean on the team, ask clear questions, and document your steps. If you make a mistake, own it—people respect honesty a lot more than bravado. You’ll learn faster by being open about where you’re stuck.

What skills or qualities do you think will be most important in this field over the next few years?

It depends on the day, but lately, we’re seeing more demand for people who can bridge technical know-how with clear explanations. Tools and models shift, but the value comes from folks who stay steady under pressure and communicate what the numbers mean. If you focus on that, you’ll stand out—no matter what the market throws at you.

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An interview with an options analyst