Shot almost entirely at night, O Fantasma chronicles a young trash collector's descent into a world of increasingly bizarre sexual encounters. Sergio (Ricardo Meneses) spends his days living in a run-down rented room, engaging in anonymous sex and trying to rebuff the advances of his co-worker Fatima (Beatriz Torcato). Unfulfilled by his daily sexcapades, Sergio finally gets turned on by a Tom of Finland-esque motorcyclist (Andre Barbosa), whose physical beauty becomes the source of Sergio's obsession. Sergio stalks him, eventually donning bondage gear and making the motorcyclist his love prisoner. After having his brutish way with his comely captive, Sergio vanishes into the night and prowls the city's garbage dumps in a phantasmic odyssey of sexual dysfunction and cruelty.