Trading

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Andy Frankenberger

Derivatives Sales Trader

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“Whether I'm trading equity derivatives or competing against the world's best poker players, my objective is the same: identify positive expected-value opportunities while managing risk under uncertainty.”

I joined O’Neil Securities to build and grow its equity derivatives business. I look forward to partnering with institutional clients and collaborating with the rest of the Options team to deliver differentiated trading solutions and exceptional client service.

Throughout my career as a market maker and risk manager, I have developed expertise in identifying attractive trading opportunities and helping clients navigate complex markets. I have partnered with institutional investors to evaluate risk, source liquidity, and execute derivatives transactions efficiently across a wide range of market environments.

Most recently, I worked at BNP Paribas, where I served as Head of Single Stock Options Flow Trading and then Head of ETF Options Flow Trading. As Head of Single Stock Options, I managed a team of traders covering every major U.S. sector while personally making markets in the technology sector. As Head of ETF Options Flow Trading, I managed market making and risk across equity, fixed income, credit, commodity, and emerging market ETFs.

I began my career at JP Morgan as an FX trader, with an expatriate assignment trading the Russian ruble in London and Moscow, before transitioning to the U.S. equity derivatives team, where I became an Executive Director trading listed options, OTC derivatives, and structured products.

I graduated magna cum laude from Duke University with a BA in Economics and Russian. My academic background and experience trading multiple asset classes and global markets have shaped the way I think about risk, communication, and client service.

Beyond trading, I spent several years competing as a professional poker player. I am a two-time World Series of Poker champion and was named World Poker Tour Player of the Year in my first year playing professional poker. Although I was fairly new to poker, my edge came from years of experience making disciplined, time-pressured decisions with incomplete information as a trader.

In my free time, I enjoy spending time with my family, playing tennis, playing the piano, backgammon, and fantasy baseball.