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Robinhood users say the app won't cash in their bets against Silicon Valley Bank
- vba616 4y agoIsn't stuff like this covered in the booklet you are supposed to read when you get permission to trade options? From the OCC or whatever?
- VagueMag 4y agoFrom what I understand, Robinhood isn't following the usual rules in refusing to allow their clients to exercise options early. I have some SBNY puts in an ETrade account and while they're requiring ridiculously exorbitant margin, they will still let me exercise. I think it's pretty likely that some kind of settlement or OTC trading gets worked out before Friday, but it's a bit nerve wracking to have potential big winnings stuck in purgatory. Edit: The CEO confirmed on Twitter they are working on the issue. https://twitter.com/vladtenev/status/1635868988814262272 https://twitter.com/vladtenev/status/1635868988814262272
- vba616 4y agoI don't understand how they could be refusing to allow clients to exercise puts if the people complaining don't have the stock to sell.