QB Stocks - Game Rules

At the beginning of the season, each investor sets a starting 'Portfolio Value' (e.g., $200 virtual dollars). Usually the group admin will recommend an amount for everyone in the group.

Each week, you must select:

• 3 QB stocks to be long.
• 1 QB stock to be short.

For your three long positions, you will select the percentage of your portfolio you want to allocate to each QB stock. These percentages can sum up to 100% of your 'Portfolio Value'.

Example: You allocate 30% of your portfolio to Long 1, 20% to Long 2, and 50% to Long 3. This adds up to 100%.

Your short position is automatically set at an additional 30% of your current 'Portfolio Value'. This 30% for the short does not count against the 100% allocated to your long positions.

(This gives you 130% effective exposure: 100% for longs + 30% for the short)

All unused portfolio cash (i.e., if your long positions don't sum to 100% and you explicitly hold cash, or if you default to "all cash") will roll over to the next week but is subject to market relativity. It is generally recommended to invest 100% of your portfolio in long QB positions, because holding cash typically yields a 0% return and may underperform the overall market.

You must submit your QB stock picks before the kickoff of the first game relevant to your chosen QBs for that week.

If you forget, or do not make any new picks, your three long positions will enter the new week holding "all cash" (100% of your investable portfolio is cash). "All cash" usually does not perform well relative to the market.

QB stock prices will change each week based on performance. If a QB does not play in their scheduled game or records no stats, their price will remain unchanged from the previous week.

Weekly results will be finalized after the last NFL game of that week (typically Monday Night Football). These results are used to determine the new QB prices and the new portfolio values for all investors.

• The 'Total Market Value' is equal to all of the investors' aggregate starting portfolio values for that week.
• After the results come out each week, each investor will have a 'Nominal Portfolio Value' based on the raw performance of their picks.
• The 'Market Multiple' for the week is calculated as: Total Nominal Value of all Investors (after results) / Total Market Value (aggregate starting values).
• Each investor's 'Nominal Portfolio Value' is then divided by that week's 'Market Multiple' to arrive at their 'Real Portfolio Value'.
• The sum of all investors' 'Real Portfolio Values' will always equal the original 'Total Market Value' for that week.

Example: An investor begins the week with a $200 Portfolio Value. Based on their QB's performance, their 'Nominal Portfolio Value' increases to $450. If the 'Market Multiple' for that week is 1.5x, their 'Real Portfolio Value' is adjusted to $450 / 1.5 = $300. This $300 becomes their buying power for the following week.

If your 'Portfolio Value' drops to zero or goes negative, you are out of the game.

There are no minimum snaps needed to create a price as long as the QB records at least one statistic. If a QB is inactive, or active for a game but records zero in all statistical categories, their price will remain unchanged from the previous week.

Hold a single long stock that represents over 50% of your portfolio value or under 10% of your portfolio value. (This rule encourages diversification and meaningful position sizes.)

Exception: The 'pink-sheet' or 'hard-to-borrow' rules described below.

Have your three long positions, in aggregate percentage allocation, be greater than 100% of your 'Portfolio Value'.

Buy a QB stock that has a price of less than $3.00.

Reasoning: Very low-priced stocks can have extreme percentage volatility with small absolute price changes, potentially distorting game balance.

Exception: If one of your existing long positions drops below $3.00 (becomes a 'pink-sheet'), you can choose to keep it for the following week. If you do, the number of shares will stay the same as the previous week.

Short a QB stock that has a price greater than $7.00.

Reasoning: Very high-priced stocks are easy short picks. We want the decision to short a QB to come with some risk.

Exception: If your existing short position rises above $7.00 (becomes 'hard-to-borrow'), you can choose to keep it as your short for the following week. If you do, the number of shares will stay the same as the previous week.

To see past picks, click on an investor's name on the 'Investors' tab (or equivalent section).

Refer to the 'Picks' tab (or equivalent) to see picks submitted for the current, unplayed week.

If the QB does not play in the game or does not record any statistic, his price will remain unchanged from the previous week.

If the QB gets injured during the game, his recorded stats up to that point will count when calculating his new price. There is no minimum snap count required if stats are recorded.

If you see your name and picks on the 'Picks' tab (or receive a confirmation message), your picks have been submitted successfully.

You can change your picks by submitting again. Changes can be made up until that specific QB's game has started or the general weekly deadline.

If you see an error message on the 'Trade' tab (or equivalent), you must correct your picks before they can be successfully submitted.

If having trouble submitting (especially on a computer), try using a phone, refreshing the browser, and trying again.

Real-time pricing uses live stats to show indicative performance of stocks and investor portfolios while NFL games are being played.

A QB's real-time price is an estimate, often calculated as: (QB's previous week stock price * % of game time remaining) + (calculated stock price based on QB's live stats in the current game so far).

Example: A QB enters the week with a price of $4.00. He's played one quarter (75% of game time remaining). In that quarter, his live stats equate to a $2.00 current game segment price. His 'Real-Time' stock price estimate: ($4.00 * 0.75) + $2.00 = $3.00 + $2.00 = $5.00.

These real-time stock price estimates can be used to show real-time portfolio value changes and indicative 'Market Multiple' shifts during game day.

After all games are over, the real-time stock prices should converge to the final calculated stock prices. These final prices are official and used for making picks for the subsequent week.

Weekly picks are always made using final prices from the previous week, never based on in-game real-time prices.