If you dig a layer deeper on payments for order flow, the majority of that revenue comes from options trading. Because they're more opaque, options carry fatter

If you dig a layer deeper on payments for order flow, the majority of that revenue comes from options trading. Because they're more opaque, options carry fatter margins versus stock. Not surprisingly, Robinhood makes it very easy for users to trade options. Lucrative for Robinhood, but potentially risky for investors. More thoughts on that below. https://kjlabuz.substack.com/p/57-robinhood-traders-anonymous https://kjlabuz.substack.com/p/57-robinhood-traders-anonymou...