Company Events & EarningsExtended setexperimental liveNew

Polymarket MA Close Drift

Updated event-drivenData needs: mediumlong onlyshort only
paper
2001
Source
Extends: Mitchell, M., Pulvino, T. (2001). "Characteristics of risk and return in risk arbitrage." Journal of Finance 56(6). Polymarket overlay is novel (alphactor 2026-05-20).
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In plain terms

Polymarket asks 'will the merger close on time?' — if YES is above 75% but the stock is still trading far below the deal price, take the long. Symmetric short when YES drops below 25%.

How it works

For merger/acquisition markets ("Will X merger close by date Y?"), the polymarket YES probability is a clean prior on deal-completion. When the polymarket says >75% close-prob but the equity is trading far below the deal price (wide deal-spread), the classical Mitchell-Pulvino risk-arb edge is amplified: there's a paid wait AND a prediction-market vote of confidence on completion. Symmetric short on <25% close-prob (break risk).

No live results for this strategy yet. Charts appear once it has earned a top spot on at least one stock, either on its own or as part of a blend of several strategies.
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Data dependencies

  • Daily prices

    Adjusted-close OHLCV for every US-listed ticker; primary price feed.

  • Polymarket markets

    A data feed this strategy reads, refreshed on its normal schedule.

  • Polymarket prices daily

    A data feed this strategy reads, refreshed on its normal schedule.

Expected edge

Reported return
untested — moonshot
Tested over
T+0 to T+90d

Untested — moonshot. Target 100-300 bps on the subset of merger-arb tickers with a linked polymarket market.

Example tickers where this is likely to fire

Illustrative only, the signal fires based on the live data, not a fixed list.

Related families

Explore Polymarket MA Close Drift on alphactor.ai

See which tickers this family is currently firing on, with live signals and rankings.

For informational and educational purposes only. Not financial advice. Learn more