The reality TV show I'm a Celebrity…Get Me out of Here has been on British television since 2002 and reappeared (aired in 2003) on American TV last night. I'm borrowing the show's title for today's post.
Can you imagine a trading room, decorated as a jungle, and populated with traders of various persuasions? We follow the action for one week and each trader sits at a computer screen and trades as many hours per day as he/she wants to trade.
No trading software is allowed. This is down and dirty trader against trader. All food is delivered, cots are available for sleeping. Shower rooms and clothes changes are available as requested.
The biggest loser (or smallest winner) for the week is kicked out of the trading room. There is no voting. The game continues until only one player remains.
One additional rule: To prevent absurd investments and wild gambles in an attempt to win, each player deposits $100,000 into the trading account before the contest begins. No extra money is available. Any player who loses the entire 100 grand is unceremoniously bounced. Each keeps whatever remains of that initial deposit (plus all profits) upon exiting the contest.
The winner collects a prize that triples his/her final account value. That's the incentive: make a bunch, win a bunch. The contest ends in eight weeks.
Father Ben: He wears and trades collars
Old Timer: A buy and hold investor for the past 40 years
Passive John: Owns only Vanguard 500 Index Fund
Penny Jones: She only trades penny stocks
Boston: Sells front-month SPX strangles
Birdman: Buys Russell 2000 Index (RUT) iron condors
Sedaka: Trades calendar spreads
Author: Writes covered calls exclusively
Retail gal: Only buys puts and calls. No hedging
The stage is set. The battle lines are drawn. Who's first to be eliminated?