There is some big news in the world of options trading to announce. I received an email discussing how you can now exercise options right within the RobinHood trading app.
Robinhood stated, “Instead of contacting support to exercise contracts, you can now exercise your long contracts from your options position screens. Additionally, with instant exercise, funds, and shares from exercises are available immediately during market hours.”
Having to contact support was a big pet peeve I’ve heard from options traders and fair criticism of Robinhood options up till now. They should have done this a long time ago. In addition to the ability to exercise your options within the app, they sound like they will be giving more support to people who find themselves in a scenario where their options contract get assigned early. If you weren’t aware, this sometimes happens when selling options, and it doesn’t matter what platform you’re trading on.
If you’re not familiar with Robinhood, it’s a neat little trading app that is great for new investors. Whether you want to trade individual stocks, cryptocurrency, or stock options, it’s well worth checking out. It’s not as robust as some of its competitors, and it lacks advanced charts, but in terms of the app, I think it’s the most intuitive and streamlined one I’ve tried so far. Best of all, trades are free, minus the minimal fees that the stock exchange itself charges on security sales. When you sign up here, you’ll get a free stock gifted to you. You don’t even have to fund the account to receive your free stock share.
If you’re using Robinhood and need more advanced stock charts, then I highly recommend MarketClub. Their stock charts, alerts, and trade triangle indicators make the perfect chart service to use when using a simple trading app like Robinhood.
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