HSX realizes that "The Hangover" has NO chances of winning 'Best Picture" or even being NOMINATED, so 'why' make that one of the options for Nomioptions? Would you 'buy' this option, or short it? I doubt any of us would 'buy' it, I'm guessing most would short it. I think the reason FOR having these options, is to see 'who' can pick the right one out of a group of real contendors...THAT makes it a little more real in the sense of a stock market game. To throw "Hangover" to the 'wolves' so to speak, just to have it in the group is silly in my opinion. I don't think anyone would feel it has a chance of winning anything, and thus would short it all the way to the bank.
Other than that, with other stars or movies being on the list of options, I'm thinking that HSX puts those in that they feel (again) have the best chance of being nominated. NOT that some stars don't deserve to be on the list, but there has to be a limit of the number they put ON the list to begin with...Otherwise, we may end up with a list of 20 people who they (or us) think should be nominated for an Oscar.
These are just my own thoughts on your question, as I have NO IDEA as to how HSX decides who to put on (or leave off) their Nomioptions lists...