The film’s non-linear structure is anchored by Murphy’s dreary January 1st morning with Omi and his crying child. Nora’s phone call establishes the haunting premise: Electra has vanished and may have committed suicide.
Flashbacks reveal how Murphy and Electra began as soulmates who pushed the boundaries of their intimacy. Seeking new thrills, Electra invites their neighbor Omi into a threesome. However, Murphy secretly sleeps with Omi behind Electra's back without protection, resulting in Omi's pregnancy. When Electra learns of this betrayal, their relationship violently collapses. Electra descends into heavy drug use and despair, cutting Murphy out of her life entirely. Murphy is forced by circumstance to stay with Omi to raise the baby, entering a loveless marriage.
In the film's final act, Murphy lies in the bathtub with baby Gaspar, weeping uncontrollably under the weight of his guilt and unchangeable reality. He hallucinates Electra embracing him in the bath, whispering declarations of love. The screen cuts to black on the title card "THE END," sealing Murphy in an eternal cycle of unfulfilled longing and mourning a love that was destroyed by his own vanity.