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Draft for attorney review. Bracketed items are placeholders to be filled in before launch.

Contest rules

Last updated October 6, 2026

Bragging rights only

Every Closing Bell Picks contest is free to enter. There are no entry fees, no prizes, no cash, and nothing of value to win. Contests are played for fun and bragging rights among friends in private leagues. Nobody can buy an advantage.

Closing Bell Picks is for entertainment and education. Nothing in the app is investment advice or a recommendation to buy, sell, or hold any security. All portfolios are virtual; no real money is invested.

Who can play

  • You must be 18 or older and confirm it when you sign up.
  • One account per person. Leagues are private: you join with an invite link or code.

Picks

  • Each contest has a virtual budget (for example, $50,000), a number of picks, and a limit on how much of the budget can go into one stock, all set by the league's commissioner and shown on the contest page.
  • You choose a dollar amount for each pick. At the contest's opening bell, each pick buys as many whole shares as that amount allows at the official opening price; the rest stays as cash. Picks lock at the opening bell.
  • Eligible securities are U.S.-listed stocks and ETFs priced at $1 or more with a market value of at least $300 million when picked.
  • If the commissioner turns on auto-pick, a player who doesn't pick is put in an S&P 500 index fund (SPY). Otherwise the budget stays in cash.
  • League-mates can see each other's picks once a contest starts, not before.

Swaps

If the contest allows swaps, you can sell one holding entirely and buy another. A swap executes at the next regular-session price after you request it, and the stock you buy must meet the same limits as a pick.

Scoring

  • Your score is your portfolio's total return over the contest: holdings at regular-session prices plus cash and dividends, compared with the starting budget. If the commissioner uses handicaps, a player's head start is added to their return.
  • Only regular-session prices (9:30 a.m. to 4:00 p.m. New York time, on the NYSE calendar) count. Pre-market and after-hours prices are shown for information only.
  • Splits, dividends, and mergers are applied automatically: splits adjust shares, dividends are credited as cash from the ex-date, and mergers convert to cash or the acquirer's shares.
  • Standings use delayed market data during the day. The final standings are set from the official close of the contest's last day.
  • Players with exactly the same score share the rank (for example, 1, 2, 2, 4).

Seasons

In a season-long league, each week is a contest everyone plays, and players are also paired head-to-head. The higher weekly score wins the matchup; an exact tie is a tie; a bye counts as a win. The top teams by record go to the playoffs.

Corrections

If a data error affects results, we may correct standings. Corrections are recorded and never erase the original record.

Fair play and conduct

Keep league chat friendly enough that everyone wants to stay. Harassment, hate, spam, and sexual content aren't allowed. Players can report or block others, and commissioners can remove messages. See the terms of service.