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Current Events > Wait so Robinhood just GIVES you money for opening a sell call?

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DJquackquack
02/03/21 4:16:43 PM
#1:


I thought another human somewhere actually had to take you up on the call for you to make the premium, but now it looks like youre payed just for opening it in the first place. Am I understanding that correctly?

If so, whats to stop people from just opening ridiculous sell call contracts that nobody would actually take you up on, and then profiting from the premium, rinsing and repeating? (Like say opening a sell call for $14 when the stock is only worth $7)

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#2
Post #2 was unavailable or deleted.
AllegraD
02/03/21 4:19:37 PM
#3:


People use Robinhood?


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DJquackquack
02/03/21 4:24:24 PM
#4:


Future_Trunks posted...
you make like a dollar
$88 dollars to be exact.

Source: I just opened one at the aforementioned price :P

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#5
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DJquackquack
02/03/21 4:35:21 PM
#6:


Future_Trunks posted...
if you're naked, then you better be ready for the potential of getting fucked
Nah, Im good. RH dont allow naked sell calls.

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CE_gonna_CE
02/04/21 9:29:55 AM
#7:


DJquackquack posted...
I thought another human somewhere actually had to take you up on the call for you to make the premium, but now it looks like youre payed just for opening it in the first place. Am I understanding that correctly?

Not correct. The money is coming from a buyer, not RH. Ive made offers that were not accepted and had to bring em down like $5 to trigger a buy.


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Tyranthraxus
02/04/21 9:40:05 AM
#8:


DJquackquack posted...
$88 dollars to be exact.

Source: I just opened one at the aforementioned price :P

I hope you have 100 shares in whatever you just sold.

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CE_gonna_CE
02/04/21 9:52:57 AM
#9:


Tyranthraxus posted...
I hope you have 100 shares in whatever you just sold.
Hes correct in post #6, from what I can tell. RH wont allow naked calls.


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