School of Business has great showing at Options Trading Simulation
Two teams from 17吃瓜鈥檚 School of Business made an impressive showing in the ninth edition of the Options Trading Simulation. More than 3,000 undergraduate and MBA students from 38 Canadian universities competed over the course of eight weeks. Go Panthers Go, a team made up of Jeremy Heartz and Quentin Ng, took sixteenth place overall. Darcy Norton, competing as a one-man team, took twentieth place.
Ng and Heartz ended the competition with a balance of $148,391, on an initial 鈥渋nvestment鈥� of $100,000. Norton鈥檚 final balance was $141,762. The teams鈥� returns were impressive, at 48.4 per cent and 41.8 per cent respectively.
Heartz explains one of the successful trades his team made: Suncor Energy Inc. 鈥淲e had a good idea that the stock could only perform better than expected due to it being in the oil and natural gas sector鈥攚here expectations were low because of the current price of oil鈥攁s well as Suncor having lost facilities in the Fort McMurray wildfire. The stock rose by about 7 per cent, and our options responded by increasing by 500-600 per cent; on a total investment of $9,000 we made $55,000.鈥�
鈥淭he teams deserve all the credit,鈥� said faculty supervisor Dr. Andrew Carrothers. 鈥淚 simply explained the basic concepts and demonstrated how to trade. These two teams made 340 transactions over the eight weeks of competition. Clearly the phenomenal performance was a result of their decision-making. It is very satisfying when 17吃瓜 punches well above its weight class.鈥�
Teams from 17吃瓜鈥檚 School of Business have enjoyed great success in recent years in regional, national, and international case competitions. , the successes have helped raise the profile of the school in the world of academia and with potential international students.
The 17吃瓜 prides itself on people, excellence, and impact and is committed to assisting students reach their full potential in both the classroom and community. With roots stemming from two founding institutions鈥擯rince of Wales College and Saint Dunstan鈥檚 University鈥�17吃瓜 has a reputation for academic excellence, research innovation, and creating positive impacts locally, nationally, and internationally. 17吃瓜 is the only degree granting institution in the province and is proud to be a key contributor to the growth and prosperity of Prince Edward Island.
