Monthly Sell Call Competition Rules


- For an entry to be valid, it must be received by the relevant deadline as stated on the Competitions page

- The Display Name may either be your real name or a pseudonym

- Company choices must be unique, so choices already entered into the table cannot be chosen in another entry UNLESS, the company has already been chosen and the company name has an (R) next to it. You can choose to roll-over your previous month's pick for a maximum of one month, regardless of whether it has been already chosen. This is called the rollover rule.

- Price depreciation will be the method of comparison

- The scoring system is points-based dependent upon your position. It follows as below:
   - Zero points if the company share price appreciated over the month or if the share price is flat on the month, otherwise:

  
   - This scoring system gives a clear incentive to find a company that is likely to fall, regardless of the percentage loss, given that a 2% fall has the potential to be credited with a significantly higher score than a company that is flat on the month

- The company you choose does NOT need to be short-able in real life. The primary purpose of the competition is academic and to help you refine your ability to recognise companies with downside potential

- The Bid Price will be used for the start price; the Ask Price will be used the final end-of-month price. Where it is possible to purchase within the defined spread, the last trade price will be used where appropriate

- The table is automatically updated every few minutes using Google Finance to provide quotes. However, Google Finance provides the price of the last trade, hence for illiquid stocks the shown price may deviate significantly from the mid-price. However, at the end of the month, I will manually enter the most appropriate price to ensure no actual disadvantage

- There are no prizes aside from the kudos of outperforming peers!

- Should a share be suspended or delisted, an appropriate method of valuation for the shares will be used to be determined at my discretion. If a company is taken over or merges with another company for cash, the cash value per share will be the final price. If taken over for equity, the cash equivalent of the equity will be used for the final price, as appropriate.

- A company that releases news either past 16:35 on the Friday, or unofficially has news released by the media over the weekend may be deemed invalid at my discretion.

- You cannot choose a company currently suspended, that has already announced a delisting vote, or that is set to delist. I may disallow entries at my discretion on this basis.

- If a company undertakes a stock split or rights issue, the share price will be adjusted for appropriately