David Einhorn, who once finished 18th in the World Series of Poker (WSOP), was knocked out of the competition on Monday night.But as we know well, Wall Streeters are well represented on the competitive poker circuit.
One Wall Streeter who’s survived the first two rounds of the tournament is Jeremy Wien.
Wien trades index volatility for Peak6 Capital Management.
Out of 6,685 competitors, there are 1,866 players left.
Right now, with 117,000 chips, Wien is in 695th place, according to Bloomberg.
He began his career at Goldman Sachs, on the index volatility desk “making markets in VIX options as well as trading SPX futures and options,” before moving to Société Générale to launch their VIX business.
Wien told Bloomberg:
It’s a grind, and early on especially it’s about survival. You have to build up some chips when you can. You can’t just play no hands and fold your way to Day 3 because that doesn’t accomplish anything and it may not even work. Experience matters in this tournament more than others. There are definitely poker players who are better than me who haven’t played this tournament as much as I have or figured it out as much as I have.
According to his website, “by the time of his departure from Soc Gen in March of 2010, SG had gained #1 market share in VIX trading.”
Wien earned his undergraduate degree from Georgetown.
He says his “two biggest passions are the Atlanta Falcons and poker.”
“Siince he was born without much natural athleticism (to put it mildly),” his website says, “he has stuck to the Falcons only from a spectator’s perspective and chosen poker as his primary competitive hobby.”
He chose well. He’s recorded 5 top-24 finishes in the PokerStars’ Sunday Million, which is the largest weekly online poker tournament, and he’s played WSOP five times, making it to the third round since 2009, when he made it to day 5 of the Main Event and finished 282nd.
Yesterday, he tweeted: “1896 players left heading to day 3; my chip stack is 695th…can’t wait for tomorrow…”
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