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GLOSSARY

TERMS

24H: How much a player's price has moved over the last 24 hours.
Account value: Your cash plus the current value of every player you hold.
Bot: An automated house trader, always marked [BOT]. Bots follow the same rules as everyone and can't win contests, and some of them trade on value, which helps keep prices orderly.
Buy-in: Everything you've put into your account: the $25,000 you started with plus any reloads. Your return is measured against it.
Cash out: Leaving an injury hold early, at the frozen price less a 5% fee.
Contest: A monthly or season competition in one league. Joining opens a separate portfolio with $10,000, ranked by its return.
Portfolio: A set of cash and holdings. You have an all-time portfolio plus one for each contest you enter, and every trade goes into the one shown at the top of the screen.
Closing price: A player's frozen price when his league's season ends: the lower of his last price and his 24-hour average.
Cover: Buying back the shares of a short to close it.
Delist: Removing a player from the market. Every holder is paid his current price, with no fee.
Fee: The 1% charged on every buy and sell, included in your cost and your profit numbers.
Frozen price: A player's price while he's on an injury hold: his price from just before the injury.
Game score: One number for a player's game, built from his box score (the Tape Score in the NBA, PPR and IDP fantasy scoring in the NFL). It shapes what we think his play is worth. See how prices work.
Halt: A pause in trading on a player, from the start of his game until 30 minutes after the final, or briefly for breaking injury news.
Hold through: Keeping your shares of a player ruled out for the season, frozen until he returns. A one-time choice that can't be undone.
IPO: A newly listed player's opening: a set time on the IPO calendar, with a 2x deeper market for his first day.
Injury hold: Trading stopped on a player out long-term, with his price frozen at its pre-injury level until he's back.
Long Haul: The season board for buy-and-hold traders. Sell anything within 7 days of buying it and you're not ranked there.
League: A private leaderboard for you and your friends, ranking members in each contest and all-time.
Limit order: An order that waits for your price: a limit buy fills at your price or lower, a limit sell (take profit) at your price or higher.
Market order: An order that fills right now at the quoted price.
Offseason: The stretch between a league's season end and its preseason reopen, when its players don't trade and held positions sit frozen.
Paper P&L: Profit or loss on shares you still hold, if you sold them at today's price.
Price limit: Trading can't push a player more than 35% above or below what his play is worth, and one account can only move one player so far in a day.
Position cap: The limit on any one player: no more than 35% of your account value when you buy.
Price: What one share of a player costs right now. It moves only with trading, and over time it tends to settle near what his play is worth.
Real P&L: Profit or loss you've locked in by selling.
Reload: $10,000 of play money you can add when your account runs low. Reloads count toward your buy-in, so they never help your ranking. All-time portfolio only.
Retired stock: A player you can keep or sell but nobody can buy.
Return: Your profit as a percentage of your buy-in. Rankings use it, so big and small accounts compete on the same footing.
Season average: A player's average game score this season, shown on his page.
Short: Selling shares you don't own to profit if the price falls. Collateral is locked while it's open.
Staking: Borrowing buying power against a frozen position, up to 50% of its frozen value at 0.05% a day. Due when it reopens or pays out; you never lose more than the staked shares.
Stop buy: An order that buys automatically once a price rises to your number, often used to catch a breakout.
Stop loss: An order that sells automatically if a price falls to your number, to limit a loss.
Team stock: A team traded as its own stock, like LAL-NBA. It's valued on the team's results (margins adjusted for home court and opponent), not its players' prices, and its price moves by trading.
Take profit: A limit sell above today's price, so you lock in a gain automatically.
Ticker: A player's short trading symbol, like SGA or JOKIC. Tickers stay with a player for good, even if he changes teams.
Trade tape: The public feed of every trade on the market, at /trades.