The second of three monthly contests in Benzinga’s paper trading competition powered by TradeZero kicked off on Oct. 15, giving contestants a chance to take home a portion in the more than $30,000 in cash and prizes offered during the three-month run.

The current leader of the second contest has posted an impressive gain thanks to the 2024 presidential election.

The Contests: Powered by TradeZero, the World Championship of Trading is the ultimate trading competition for investors to prove their keen eye during a three-month time period.

The first of three separate contests kicked off on Monday, Sept. 16. A second contest kicked off Oct. 15 and runs through Nov. 14. The third and final contest begins Nov. 15.

Contestants start each contest with a paper balance of $100,000. Each investor will have around one month to generate the highest profits from a starting balance of $100,000 in a simulated trading account.

Contestants in the World Championship of Trading will have access to Benzinga’s Live Squawk product.

Investors will also gain exposure to TradeZero’s newly patented short-selling tools.

Here’s the leaderboard for the second contest through Nov. 10:

1^st: Sebastian N.: $7,201,478.01

2^nd: Shruthi M.: $530,212.10

3^rd: Stephen L.: $385,435.00

Each of the top 10 contestants on the leaderboard has a balance of at least $244,000, gaining over 144% during the contest.

Last week's leader Shruthi M. fell to second place. Andrea S., who won the first contest, fell from second place last week to sixth place and has some ground to make up to win another prize in the trading competition.

This week's top 10 features only four of the top 10 from last week, which shows how the leaderboard changes.

Second Contest Leader: Benzinga recently talked to first-place leader Sebastian N to find out more about how he generated the huge gains in a short time.

"I was definitely waiting for the election," Sebastian told Benzinga. "To win this contest you gotta go big."

Knowing that Tesla Inc CEO Elon Musk had endorsed Donald Trump in the election and the stock could gain from a Trump win, Sebastian said he tracked the electric vehicle stock.

The trader said the stock was already breaking out before the election and seemed like it was going to continue moving higher. Sebastain bought Tesla calls and made it the biggest trade he had made during the contest.

"If Trump wins, we're gonna do well," Sebastian said, recalling his trades.

The trader said he sold the Tesla calls shortly after Trump won the election, netting a large profit in the paper trading contest, but admits he could have made an even larger gain if he held onto them for longer.

Sebastian, who will likely be the winner of the second contest, said he also competed in the first contest and it didn't go so well.

His approach in the second contest was to remember that the leaderboard often changes and it's a multi-week contest with time to play catch up.

"Completely possible to go from 20^th to 1^st with a good trade."

Sebastian's advice for anyone entering the third and final contest is to remember that the leaderboard is constantly changing and you can still win the contest.

"No matter where you are on the leaderboard, you can always improve on your trading."

If Sebastian wins first place and takes home the $10,000 prize, he said he will use some to pay off student loans, put some of the money into his IRA and maybe trade with the rest.

First Contest Winner: Andrea S., the winner of the first contest, went from $100,000 to more than $1 million in the paper trading account in less than a month.

Benzinga previously interviewed Andrea S., who was in the top 10 for most of the contest and was in first place several weeks.

Contest Rules: The contest is open to residents of the United States and Canada who are 21 years of age or older.

Traders will be able to buy simulated equities and options from U.S. markets during the contest periods starting with a balance of $100,000. No fractional shares will be allowed. Traders have to hold a minimum of one stock or option throughout the contest. A minimum of five days of one trade or more must be completed throughout each contest.

Interested investors have been able to sign up to join the contest since Friday, July 26. Signing up for the first contest will automatically register an entry in the second and third contests. Traders can sign up for the contests after the start dates as long as it is before a cutoff deadline.

The dates for the contests are listed below:

Contest 1: Sept. 15 through Oct. 14
Contest 2: Oct. 15 through Nov. 14
Contest 3: Nov. 15 through Dec. 14

The last days to register for the remaining contests are at 9 a.m. ET on Nov. 7 and Dec. 8.

Contest Prizes: Participants have the chance to win as much as $30,000 in cash and prizes during the contests. Travel and expenses will not be paid for the NYSE tour prizes.

Here are the prizes for the World Championship of Trading.

Contest 1:

First Place: $5,000 cash, lifetime of Benzinga Pro Essential, tour of the NYSE and lunch for two at the NYSE.
Second Place: $1,000 cash, one year of Benzinga Pro Essential.
Third Place: $500 cash, one year of Benzinga Pro Essential.

Contest 2:

First Place: $10,000 cash, lifetime of Benzinga Pro Essential, tour of the NYSE and lunch for two at the NYSE.
Second Place: $2,000 cash, one year of Benzinga Pro Essential.
Third Place: $1,000 cash, one year of Benzinga Pro Essential.

Contest 3:

First Place: $15,000 cash, lifetime of Benzinga Pro Essential, tour of the NYSE and lunch for two at the NYSE.

Find out more at the World Championship of Trading site.

Read Next:

EXCLUSIVE: Top 20 Most-Searched Tickers On Benzinga Pro In October 2024 — Where Do Tesla, Nvidia, Apple, DJT Stock Rank?

The World Championship of Trading (the “Contest”) involves the assembling and managing of a fantasy stock portfolio and not actual trading results. Contest information and results (collectively, the "Content") have been made available for information and entertainment purposes only and should not be considered trading or investment advice or a recommendation as to any security. All trading involves risks. Neither Benzinga nor TradeZero make any representations and warranties with respect to the accuracy of the Content, nor do they accept any liability which may arise directly or indirectly from use of the Content. See the Contest’s official rules for all terms and conditions.

TradeZero provides self-directed brokerage accounts to customers through its operating affiliates: TradeZero America, Inc., a United States broker dealer, registered with the Securities and Exchange Commission (SEC) and member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC); TradeZero, Inc., a Bahamian broker dealer, registered with the Securities Commission of the Bahamas; and TradeZero Canada Securities ULC, a Canadian broker dealer, member firm of the Canadian Investment Regulatory Organization (CIRO) and member of the Canadian Investor Protection Fund (CIPF). If you have any specific questions about TradeZero's brokerage services, please reach out to the TradeZero broker dealer in your jurisdiction.

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