Billions - Episode Guide

Season 1

Pilot

Episode: 1x01 | Airdate: Jan 17, 2016

Pilot

Chuck Rhoades, the powerful U.S. Attorney for the Southern District of New York, is tipped to a case of insider trading with links to Axe Capital and the billionaire hedge fund king Bobby "Axe" Axelrod. This sets Chuck on a collision course with one of the most powerful men on Wall Street. While it could be a career-defining case for Chuck, he must tread carefully, because his wife, Wendy Rhoades, is the in-house performance coach at Axe Capital and Axe's key confidante. But a costly purchase by Axe gives Chuck the opening he needs, setting off a cat and mouse game where the stakes are high and intensely personal.

Naming Rights

Episode: 1x02 | Airdate: Jan 24, 2016

Naming Rights

Axe installs rigorous compliance measures to gird the company against the investigation by Chuck and the US Attorney's office. When Wendy questions Axe's methods, he compels her to prove her loyalty to the firm. Chuck's investigation is temporarily derailed when he has to divert resources to a case against an Axe rival, billionaire Steven Birch. Axe's black bag man and fixer, Hall, develops a mole inside the US Attorney's office, while Axe makes an aggressive move under the guise of a charitable contribution to the symphony in order to settle an old score.

YumTime

Episode: 1x03 | Airdate: Jan 31, 2016

YumTime

Chuck discovers that while he pursued Steven Birch, the rival Eastern District has made inroads in the Axe case and that he needs to get it back. Chuck horse-trades to regain control of a key witness, Pete Decker, a hedge fund manager with ties to Axelrod. At the same time, Axe makes an activist play for YumTime, a family owned bakery corporation. This move reverberates back to Chuck by way of a very personal connection between his father and YumTime. Wendy is thrown into a moral dilemma when she discovers via a confidential session that one of the few female Portfolio Managers at Axe Capital is going to have her career sabotaged. And Lara Axelrod tries to protect Axe's reputation from a potentially damaging "tell all" book.

Short Squeeze

Episode: 1x04 | Airdate: Feb 7, 2016

Short Squeeze

After getting one of his Portfolio Managers out of trouble with the police, Axe takes a spontaneous trip to see Metallica in concert with his childhood friends. While there, he meets a free spirited young woman who makes him face the limits of his own freedom. He also must fend off a short squeeze–an attack on one of his important holdings–led by Chuck's father. Back in New York, Chuck has an epic day-long proffer session with Pete Decker, learning important facts about the inner workings of Axe Capital. But Chuck must also take action against his own father for his stock manipulation. Axe reckons with a cold betrayal by one of his old friends, and upon his return, Axe makes a momentous decision about the direction of his firm.

The Good Life

Episode: 1x05 | Airdate: Feb 14, 2016

The Good Life

Axe orders his traders to unload their positions, and he unceremoniously disappears from Axe Capital, plunging the firm into chaos. As Axe questions his life choices and plans a trip on his new yacht, Wags and Wendy struggle to maintain order and morale. In response to Axe's disappearance, Chuck intensifies his investigation, which leads him to a farm in Iowa, where he discovers a key witness to a questionable trade. Armed with the damning evidence, Chuck sends the FBI into Axe Capital to make a surprising arrest.

The Deal

Episode: 1x06 | Airdate: Feb 21, 2016

The Deal

The repercussions of the raid on Axe Capital ripple outward. Axe is spoiling for a fight, and plans a scorched-earth defense against this very public attack on his company—threatening his relationship with Wendy in the process. Chuck's interrogation of Dollar Bill does not go as planned, and political pressure mounts for Chuck to recuse himself in the face of a protracted legal battle. Wendy, caught in the middle, engages in deft shuttle diplomacy to facilitate a deal in the best interests of both men. But everything hinges on a fraught face-to-face meeting between Chuck and Axe to finalize the agreement.

The Punch

Episode: 1x07 | Airdate: Mar 6, 2016

The Punch

Pressure starts to take its toll on Axe; Chuck uses the past to his advantage.

Boasts and Rails

Episode: 1x08 | Airdate: Mar 13, 2016

Boasts and Rails

A tip throws the case into jeopardy; secrets surface from Axe's past.

Where the F*ck is Donnie?

Episode: 1x09 | Airdate: Mar 20, 2016

Where the F*ck is Donnie?

A sudden and mysterious disappearance sends both Axe and Chuck spinning.

Quality of Life

Episode: 1x10 | Airdate: Mar 27, 2016

Quality of Life

Axe and Wendy do some soul searching; Chuck suffers a devastating setback.

Magical Thinking

Episode: 1x11 | Airdate: Apr 3, 2016

Magical Thinking

Axe loses hundreds of millions of dollars on a bad trade and turns to Wendy for help. Chuck sets out on an odyssey to secure powerful allies in the fight against Axe. Lu balks at Lara's suggestion she become the new chef at Axe Capital -- and takes her sister back to the old neighborhood to remind her of their roots. Meanwhile, Sacker and Connerty close down the Axe Capital investigation just as Chuck finds evidence -- right in his own home -- that could salvage the case.

The Conversation

Episode: 1x12 | Airdate: Apr 10, 2016

The Conversation

Chuck goes in search of Axe and an explosive confrontation.

Season 2

Risk Management

Episode: 2x01 | Airdate: Feb 19, 2017

Risk Management

In the aftermath of their Season One confrontation, U.S. Attorney Chuck Rhoades and hedge fund king Bobby Axelrod are digging out of the wreckage. Chuck faces scrutiny from within his office and from the Attorney General. Axe refortifies Axe Capital, and weighs his options for retaliation. The fund wrestles with a precarious economic landscape that threatens the very existence of Axe Cap. Wendy entertains an offer from a rival hedge fund manager. Lara intervenes in an emergency at her children's school.

Dead Cat Bounce

Episode: 2x02 | Airdate: Feb 26, 2017

Dead Cat Bounce

Axe publicly spars with a rival hedge fund manager and with the help of a talented intern initiates a new financial play to hurt the competition. Chuck deploys his team to quickly find a high-profile case that might save his sinking status. Wendy navigates a minefield of questioning that could result in disaster for Chuck.

Optimal Play

Episode: 2x03 | Airdate: Mar 5, 2017

Optimal Play

Axe considers buying an NFL team. Chuck cultivates a low-level informant.

The Oath

Episode: 2x04 | Airdate: Mar 12, 2017

The Oath

Chuck develops a new strategy. Axe considers a major charitable pledge.

Currency

Episode: 2x05 | Airdate: Mar 19, 2017

Currency

Chuck, Connerty and Sacker rely on an anxious insider who is willing to wear a wire; Axe's numbers take a big hit, so he scouts ideas for a quick financial play with a huge payoff; Wendy rediscovers her passion for her former job at Axe Capital when she works with an old colleague; the realities of expanding Lara's business come between her and Axe.

Indian Four

Episode: 2x06 | Airdate: Mar 26, 2017

Indian Four

Axe negotiates with a timid seller. Chuck's deal with a defendant fails.

Victory Lap

Episode: 2x07 | Airdate: Apr 2, 2017

Victory Lap

Axe assembles a war room in the Hamptons following a disastrous setback in Sandicot for Axe Capital. The fate of the town hangs in the balance while Axe seeks counsel on how to best recoup his losses. Meanwhile, Chuck capitalizes on a high-profile victory, but alienates Wendy in the process, causing the couple to change the status of their separation.

The Kingmaker

Episode: 2x08 | Airdate: Apr 9, 2017

The Kingmaker

Axe faces opposition investigating Sandicot; Chuck digs up dirt on a rival.

Sic Transit Imperium

Episode: 2x09 | Airdate: Apr 16, 2017

Sic Transit Imperium

Axe is offered inside information; Chuck is pushed to end an investigation.

With or Without You

Episode: 2x10 | Airdate: Apr 23, 2017

With or Without You

Axe deals with a family disturbance; Chuck gets vetted for advancement.

Golden Frog Time

Episode: 2x11 | Airdate: Apr 30, 2017

Golden Frog Time

Chuck finds he has much at stake in Ice Juice; Axe takes out a huge short.

Ball in Hand

Episode: 2x12 | Airdate: May 7, 2017

Ball in Hand

Axe receives unexpected news; Chuck finalizes his long game.

Season 3

Tie Goes to the Runner

Episode: 3x01 | Airdate: Mar 25, 2018

Tie Goes to the Runner

Chuck receives a mandate from a new boss. Axe braves a difficult choice following his recent indictment. Taylor generates a monster strategy. Lara threatens to pull her money from Axe Capital. Sacker strives to prove herself as Chief of Crim.

The Wrong Maria Gonzalez

Episode: 3x02 | Airdate: Apr 1, 2018

The Wrong Maria Gonzalez

Chuck tries to cash in a favor owed to him by an honorable judge. Axe orchestrates creative new avenues for conducting trades. Wendy helps Taylor weather their first major crisis. Connerty continues chasing down Ice Juice leads.

A Generation Too Late

Episode: 3x03 | Airdate: Apr 8, 2018

A Generation Too Late

Chuck faces a dilemma when he's given a perverse directive. Axe expands upon a secret venture. Taylor and Wags interview a different type of Axe Capital employee. Connerty and Dake close in on key witnesses in the Ice Juice sabotage.

Hell of a Ride

Episode: 3x04 | Airdate: Apr 15, 2018

Hell of a Ride

Axe explores the new arena of venture philanthropy and looks to neutralize old accomplices. Connerty's scrutiny of Chuck intensifies. Chuck tries to reconcile with his father. Wags pursues a personal real estate acquisition.

Flaw in the Death Star

Episode: 3x05 | Airdate: Apr 22, 2018

Axe and Chuck fight for the loyalty of the same witness. Taylor travels to Silicon Valley to explore new business opportunities. Dollar Bill plans a big short position on a pharmaceutical company stock.

The Third Ortolan

Episode: 3x06 | Airdate: Apr 29, 2018

Axe tracks down a critical piece of evidence that could destroy him. Both Axe and Chuck reckon with just how far they're willing to go to protect Wendy. The Ice Juice case comes to a head when a judge gives Connerty a difficult deadline.

Not You, Mr. Drake

Episode: 3x07 | Airdate: May 6, 2018

Axe and Chuck face mounting evidence of their involvement in the Ice Juice sabotage. Taylor questions Wendy's authority and motivations at Axe Capital. Connerty makes his case in court but comes up against unexpected witness testimony.

All the Wilburys

Episode: 3x08 | Airdate: May 13, 2018

Axe tries for a fresh start at Axe Capital. Chuck wrestles with whether to honor his word to a friend. Taylor asks for more independence. Lara and Axe negotiate a new arrangement regarding Lara's money.

Icebreaker

Episode: 3x09 | Airdate: May 20, 2018

Axe makes a bold play to secure capital from a controversial source. Taylor chafes against Axe's recent moves. Chuck recruits the allies he needs to move forward with a new plan. Connerty seeks out a career opportunity.

Redemption

Episode: 3x10 | Airdate: May 27, 2018

Kompenso

Episode: 3x11 | Airdate: Jun 3, 2018