With a six-foot-tall muscular body and a ponytail, this is what Jon Najarian looks like. Whether he resembles Arnold Schwarzenegger or Steven Seagal more, opinions seem to be quite divided. In the trading hall, he wears a trading jacket with a "Terminator 2" badge on it, and "Arnie" looks worried.
Jon Najarian's office is large but messy. In front of a huge computer screen, there is a leather chair that he uses exclusively, and the armrest part has cracked, exposing the sponge inside, "Is it because of boredom or some other deeper emotion?" I thought to myself. There are many trophies in the room, and many photos on the wall, reflecting an interesting college life, a happy family, and success.
In 1989, Jon Najarian founded Mercury Trading Company, which was a designated primary market maker, responsible for maintaining the normal market trading of specific stocks. Two years later, the company's capital return rate was 415%.
Currently, the company is the second most active market maker at the Chicago Board Options Exchange. I think the name of Mercury Trading Company is well chosen, Mercury is the god of commerce and the patron saint of traders in Roman mythology.
Mercury provides market-making services for 60 to 80 stocks, mostly in the biotechnology, high-tech, medical, and gaming sectors. The company's revenue comes not only from market-making activities but also from directional trading positions.
On busy trading days, Mercury executes about 500,000 shares and 10,000 options contracts, with a turnover of about 60 million US dollars. Currently, Mercury's business is gradually expanding to other exchanges (such as the Philadelphia Stock Exchange) and other products (such as foreign exchange options, real-time quotation services, and fund management).
Dr. J's background
In 1981, Jon Najarian retired from the Chicago Bears, and his original forward position was replaced by rookie Mike Singletary. The broker wanted to recommend him to the Chicago Board Options Exchange because professional athletes have a more positive attitude, a strong desire to compete, and a quick response, which are all necessary conditions for surviving in the world's largest securities exchange.
Soon after, the broker told Najarian that he did not have the qualifications of a professional trader. At this time, Najarian was determined to become a top trader. Initially, he helped a position trader Tom Ho for free, in exchange for some learning opportunities.
As a result, Tom Ho became Najarian's mentor. They are still good friends. During four months of running orders, he also learned some spread trading knowledge. Soon, Najarian joined LTECO (the largest professional quote dealer at the Chicago Board Options Exchange) and became Lee Tanzer's trading partner.
In 1983, Jon Najarian officially entered the Chicago Board Options Exchange as a floor trader. He was directly in the core of the market: IBM, the world's most active stock option. He has been working in this field until he founded Mercury Trading Company in 1989.
Can't be good at only one skill
Jon Najarian is a super trader, and his qualifications far exceed those described by Rubinfeld in the first chapter of the best-selling book "Super Traders". When Najarian founded Mercury Trading Company, he also co-founded the Professional Traders Association with Tom Ho, which provides trading advisory services for foreign banks and large corporations, and also holds seminars for individual investors.
In addition, Najarian is often invited to give speeches, covering topics such as derivatives, trading, industry, and over-the-counter products. He regularly appears on the Financial News Channel, explaining the weekly options market with Bill Griffin, and also often appears on other channels' programs, such as Fox TV's "Fox Morning Report".
In 1994, Najarian was elected as a director of the Chicago Board Options Exchange and was appointed as the co-chairman of the marketing committee. Because he was chased by everyone, Najarian had to set up the Options News Station, sharing time with everyone in the air, and providing instant news service.
In 1997, Najarian established the "Dr. J Lucky Star" website, to provide information from the floor to the off-floor traders. The information provided by this website is quite good, I suggest you go and have a look.