Plot

Two fifteen-year-old girls from different sides of the tracks compete to see who will be the first to lose their virginity while at a summer camp.

Fifteen year olds Ferris Whitney and Angel Bright meet when they attend the same summer camp and are assigned the bunks next to each other in the same cabin. It's hate at first sight as they are seemingly polar opposites: romantic and literate Ferris comes from a wealthy and thus privileged background, while streetwise and chain-smoking Angel is from the proverbial wrong side of the tracks. But they share one similarity: they are both virgins, the only ones of their age in their cabin. Due to pressure from their cabin mates, most specifically the aggressive Cinder Carlson, the two enter into a bet on who will lose their virginity first and by the end of the summer. Ferris, who initially seems more interested in the pursuit of the opposite sex, quickly sets her sights on Gary Callahan, the much older coach at the camp. But Angel finds her own target, namely Randy Adams, an equally streetwise boy attending the camp across the lake. The process becomes a bonding exercise for the two girls, who take divergent paths to their end goal and in dealing with the aftermath of the alleged big events.—Huggo

A group of teenage girls from Atlanta, Georgia go to summer camp, an, unbeknownst to the adults, two of them made a bet as to which one will lose her virginity first, with all the girls in camp betting money on the contest. The girls involved in the contest are opposites and rivals: cynical, suspicious and streetwise poor girl Angel Bright (Kristy McNichol) and naive, prissy and romantic rich girl Ferris Whitney (Tatum O'Neal). The rest of the girls divide into two teams, each rooting for or egging on either Ferris or Angel. The two girls the choose guys they want to lose their virginity with. Angel targets Randy Adams (Matt Dillon), a boy from the camp across the lake, and Ferris attempts to seduce Gary Callahan (Armand Assante), the (much older) camp counselor.

The girls engage in typical teenage camp behavior, like food fights and singing around a campfire. Both girls discover that sex is not what they thought it would be. Ferris thinks of sex as love and romance and wine and flowers and poetry. She imagines herself swept off her feet by Gary. When she lies about making love with him, Gary gets in trouble for having sex with a fifteen-year-old. She discovers that physical sex can have disagreeable consequences. Her attitude is now more grounded in reality; she has become more like Angel. Meanwhile, Angel approaches the same issue from the other side and learns the opposite lesson. She views the contest as a purely biological action, "no big deal" and "nothing", as her mother told her. But when she attempts making love with Randy in a boathouse, she becomes confused by scary feelings she did not know she had. She behaves defensively, like she doesn't want this. Now also confused, Randy is discouraged by her recalcitrance and leaves her behind.

Angel sees that sex is more than just a mechanical function she can cynically turn on or off. This involves feelings and caring and love. Sex is important, and something she deeply wants. As Randy leaves, she tearfully protests "But I like you!" She meets Randy a few days later with a much improved attitude - one closer to Ferris'. This time she pays attention, not to condoms and clothing, but to Randy and her feelings about him. As the novel described this, "All her fear and resistance melted as they kiss. Soon, she didn't know who was touching whom, only that this was wonderful and right and fine." Angel has sex in the boathouse, but doesn't tell the other girls. Ferris remains a virgin and lies about an evening of romantic passion ("We had chilled Chablis; the darkness enveloped us").

Eventually, Ferris discovers that sex is not just a fantasy of poetry and flowers and moonlight or something from a novel, that the biological aspect is not necessarily romantic, and Angel discovers that biological sex involves powerful emotions that touch her deeply and transform her soul. Neither girl is quite ready for the emotional aspect that sex brings; When Randy seeks her out, Angel admits that while she likes him, she is not ready for that kind of a relationship (he says they can start over, but Angel observes that it's too late and wouldn't be enough), and Ferris apologizes to Gary. Together, the girls talk with the Camp Director and confess the situation, saving Gary's job. Angel and Ferris, the two outsiders, discover they are more alike than different, and as they return home to their parents, they become best friends.