How scoring works

1. You submit a call

You pick a US-listed stock or ETF, say whether it will beat the market (Long) or lag the market (Short), and choose a horizon: 1 day, 1 week, End of week, 1 month, 3 months, 6 months, 12 months, Pick a date. The moment you submit, your call is timestamped and locked. You can't edit or delete it.

2. Your entry price is the next market open

Your entry price is the opening price of the next regular trading session after you submit. A call submitted at 2pm Tuesday enters at Wednesday's open. A call submitted Saturday enters at Monday's open (or Tuesday's, if Monday is a market holiday). We record SPY's opening price for the same session.

This rule exists so nobody can react to news they already saw during the day.

3. Your call closes

• At the end of the horizon: it closes at the closing price on the last trading day of the horizon.
• Early, if you choose: you can close an open call early. It exits at the next session's opening price and is marked “Closed early.” It still counts.
• If the stock is delisted or acquired: it closes at the last available price.

We use split- and dividend-adjusted prices so stock splits and dividends don't distort results.

4. The math

Stock return   = exit price ÷ entry price − 1
SPY return     = SPY exit ÷ SPY entry − 1
Direction      = +1 for Long, −1 for Short
Excess return  = Direction × (Stock return − SPY return)
Win            = Excess return > 0

Example: a Long call

You go Long on a stock at $100. It closes at $110 (+10%). SPY went from $500 to $510 (+2%) over the same window. Excess return = +1 × (10% − 2%) = +8%. That's a win.

Example: a Short call

You go Short on a stock at $50. It falls to $45 (−10%). SPY rose 1%. Excess return = −1 × (−10% − 1%) = +11%. That's a win too: you said it would lag the market, and it did.

5. Check it yourself

Every call page has a “How this was scored” section listing the exact dates and prices used. Anyone can redo the math by hand.

Target prices

If you set a target price, we record the first date the stock hit it. Hitting a target doesn't close your call. Your score always comes from the horizon (or your early close).