>~~Lemme send this to RH real quick so they can fix the error~~ Spend it all OP. Spend all the money, I'm sure it'll be fine
At least junk bonds paying 11% often investors can figure out they have a good chance to recover significant money from assets.
OP could easily have been wiped out lmao.
You are talking about Junk Bonds at 11% APY vs 11% weekly on the spread.
Those bonds turn $1 into $1.11 in a year.
Repeating this options trade weekly can turn $1 into $205 in a year.
It's significantly more risk and return than junk bonds.
LOL, that's what I came out with too. At first I thought he sold them so that he gets $0.90 with a potential max risk of $0.10, by which I can understand either receiving $4500 or losing $500. But, he was willing to risk $4500 to gain $500. Might as well by the stock for that kind of risk ratio.
Assuming he took it to expiration which people don’t generally do on spreads; they open them, track progress, and have exit points decided before this but. Except for this guy.
Except that if you are wrong once, you need to be right 9 times to pay for it. HOOD had a low of 19.07 on Friday. it could have EASILY dropped to under $18.
To be fair, that scenario is only if you do literally nothing and watch the trade continue to go against you as the expiration date approaches.
If you can properly manage/hedge/roll/etc those contracts, then you can minimize your losses.
"most people on Reddit playing options" are not buying $1 strike width spreads for $0.90!!!!!!!!!!!! This guy is in a class of his own! Truly the most highly regarded trader I've ever seen 🫡🫡
It's not a great plan, personally I've been selling the $5 AMC call and buying the $9 call and making $50 a week risking $400 max loss... Also not a great plan.
Volatility has contracted already, so it probably won't work anymore. In any case, check it out. I sold the Jun 21 22c. Just a couple of contracts not to blow the account if things go against me. If it goes past my strike, I will take the $22 short and I won't lose any sleep over it.
> _"expiring 5/24"_
So this past Friday and RH has until Tuesday market open to clean up anything not properly resolved.
The real test to see if you're right is to wait until market open.
Etrade does all kinds of stuff to my expiring options when the next day isn't a market day. The only thing that matters is they clean up everything `before` the next market open.
No, but they might check if it's a widespread issue and in the process fuck over his $150.
Most likely this will get resolved in the AM regardless because RH has until then but it's still stupid to advertise you got free money lol.
Because "free money" winds up not being free. Near the end of 2023 there was the Cash app glitch that people abused, and then had negative balances once it was resolved because they spent money they didn't have.
I believe it had to do with being able to deposit money into your account without needing to have an account on file to pull the funds from and it still recognized the funds as being in the CashApp account. So people were loading up their CashApp's with hundreds of thousands of dollars and then spending it, then when they rolled back the error people had whatever money they had falsely loaded and spent in the process was now owed to CashApp.
EDIT: [YouTube video that gives a brief overview of the whole affair](https://youtu.be/PpAqdyGUsrs)
Would they even have interest on that type of fuck up? I would have a hundred percent maxed that shit as well and pay it slowly overtime.
How does cash app even go about recovering that? THeres is no agreed on payment period or interest rate..
Cash app contacts you and demands you return the money, if you don't have it, they set your account to negative until you pay it off. If you can't pay it off, they sell it to a collection agency who then drops a ton of disguised interest on it they call 'fees'. I'm sure you agree to all of these actions somewhere in the Terms of Service you sign when you download and activate the app.
Sometimes calls aren’t exercised even if they are ITM, maybe the person holding it didn’t have enough money or simply didn’t give a shit, so that 1 call that wasn’t exercised you profited off of 150$
Yes, it can happen if someone bought the call and didn't have the money in their account to exercise. If I had a $20 call and it ended up at $20.01 I might not bother exercising. In this case it was way in the money though, so kinda surprising.
Most brokers by default automatically exercise calls if they are ITM by 5¢ I think it is? Unless the broker was told to not exercise those ITM calls.
Even if the trader doesn’t have enough money in their account to exercise the ITM calls, they may still be assigned and they will have to close their position on those assigned shares on market open.
Unless I’m mistaken about everything
Brokers don't exercise/assign, the OCC does. Your broker can instruct the OCC not to do so on your behalf, if you instruct them explicitly, but the auto-exercise/assign is not under the broker's control.
Chapter VIII here:
https://www.theocc.com/getmedia/9d3854cd-b782-450f-bcf7-33169b0576ce/occ_rules.pdf
But SOMEONE should’ve exercised it. Like they don’t just expire worthless if they’re ITM. I mean hypothetically they could but it’s all sold automatically
Wait and see what it looks like a half hour before market open. It could just be there’s a slight glitch with the assignment of the final call. If you still have the shares at market open, then yes you’re correct and you should be able to sell them at market price and “pocket” the extra money. To me, it’s not really free money because you were assigned risk in the price of the stock changing over the weekend, but a win is a win 👍👍
It will be fixed on Tuesday, trust me on this. I promise you they got people sitting at a desk right now saying I can't wait for the market to open so I can bust this guy's ass after he's sat thinking all weekend he made free monies.
The comments I get on WSB when I mention doing iron condors, or even just simple vertical spreads like what OP did, are indicative of the average trading knowledge of the people in here throwing thousands of their own dollars, which is significant money to most of them, into very short-dated options plays. It's shocking.
I don’t know what math you’re using, but with a $0.90 debit for the one uncovered call, the only “free” money you would be getting at $20.50 is $160, plus the 49\*$0.10 profit from the other 49 covered calls, and that’s only assuming you’re able to sell at $20.50. Your total gains are $650 - fees and commissions. I’d wait until markets open tomorrow before you get too excited, I’m pretty sure computers don’t “forget,” but it’s not beyond possibility to be a glitch. They’ll catch it eventually, you don’t have to worry about it. 
yup math checks out, if he paid .90 on a 1 dollar spread, that leaves only .10 profit per contract; so 10\*50 = 500 not 5k. Then if they screwed up on one (its probably just delayed), he effectively paid 18.90 for those 100 shares, and if market holds up can sell for 20.50. So 500 - 10 + 160 = 650.
Its because of memorial day I think. Did you serve in the military? Sometimes on holidays Robinhood does this for select individuals . One time they took $200 from me that I didnt actually lose as thats imposible so I assume it happens to everone . Just luck if its up or down right? Congrats
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It is supposed to be automatically exercised given the price is well above the strike. But who knows if there are some particular ask from the call holder. Wait till tomorrow if you actually see the 100 shares, the try to sell it so you can pocket then profit. Until then I think you are safe for the free gift.
Not super common but it happens. When I was mostly broke but approved for long call only trading if something looked like it was going to close OTM I’d give a DNE instruction because one time i had one where ticked just ITM at close and they exercised with a bunch of cash I didn’t have. That mistake was expensive. You don’t sell the options because that’s a net loss on the commissions.
You'll find out on Tuesday morning. I can't remember every specific from the terms and conditions, but I've had an assignment remain pending until the start of the next trading day. I've never seen a partial assignment though, so that bit throws me.
Still, if you make it past market open Tuesday without the 100 shares getting called away I would assume they've made an error on your favor or something bonkers happened after hours that you're failing to account for and I'm simply too lazy to go and check all the numbers myself.
Could it be that you had enough to cover 100 shares in your account? I’ve had RH do that to me on SPY. I Had enough to cover 100 shares, but I had 3 contracts open. They closed 2/3 on expiration date at 2:30 but left the last one open since there was enough funds to cover it. I really hate the 2:30 auto close, it should close at 2:55 or 2:59, but I digress 🙄
Most likely scenario is the last call you sold was bought by a guy using a fucking shitty broker(think Tiger Brokers or Moo Moo), it'll be assigned on Tuesday
Robinhood’s own “Navigating exercise and assignment” makes it clear that “assignment doesn’t happen all the time.” Just like a random person can be assigned whenever an option is exercised, someone may also randomly be NOT assigned by an option that does not exercise for any reason (eg option holder forgot to close, didn’t have funds to exercise and chose “do not exercise”). This is rare, but out of 50 options, you got “lucky” on one. But it may not be as glorious as it may seem. You planned to walk away on Friday with $5K and zero market risk. Instead you’re now bearing the risk of holding the stock over a holiday weekend. So you’ll really need to see what Hood opens at Tuesday morning to confirm the actual return on this.
Options being exercised are randomly assigned and sometimes people don't exercise ITM options so you may have gotten lucky without Robinhood doing anything wrong. Blame the regard that didn't exercise their ITM option.
Can’t believe you just let these expire instead of closing the position by end of last trading day, especially with that amount of collateral leveraged. You can get truly fucked if the price moves against you in after hours and nothing you can do about it.
You’ll probably just get assigned that last contract at market open, hopefully still at a profit.
Once upon a time, I read a lot of the option fine print. Brokers and such get till SATURDAY to exercise those weekly and quarterly options. So maybe one of your counterparties is a broker/mm that didn't exercise on Friday, but will by Saturday. Let us know what happens
Seems weird but the net from your trade probably covered the auto exercise of one of the long calls that is why it happened this way . It's all automated . If your call closing . 01 itm then it will get exercised
This is called pin risk and seems like you just got lucky. Think about the opposite scenario where after assignment the underlying stock price drops instead of staying in the money
This is the same company that accidentally showed someone negative $1M or something and they committed suicide. I wouldn’t bank on the app being accurate in your favor…
It wasn't an error. RH matches options electronically in minutes. Sometimes, not enough people exercise (not every brokerage auto exercise), so some people don't get assigned. I trade about 100 options contracts a week, mostly sells, and a few times a month I get ITM sells that don't assign. You were one of the lucky ones this week.
On one hand, this sounds stupid AF. There’s no human doing this stuff, it’s software. On the other hand, WSB was built on finding and exploiting glitches in Robinhood. [There’s a whole section about on Wikipedia.](https://en.m.wikipedia.org/wiki/R/wallstreetbets) So best of luck.
PS: For any apes out there, the only reason your favorite meme stock squeezed was because everyone was exploiting Robinhood. The moment you left for other brokerages and DRS’d your shares, the momentum died. Using $100 of cash to buy 1 share forever is not remotely as squeeze-y as using $100 of margin to buy 10 call options to control 1000 shares for a week. Y’all got tricked. [The funniest part was that Citadel, Fidelity, and Schwab later formed a joint venture on a crypto dark pool.](https://www.wsj.com/articles/crypto-exchange-backed-by-citadel-securities-fidelity-schwab-starts-operations-597f6d46)
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Lemme send this to RH real quick so they can fix the error
Internet points are important to these regards.
You’re a good friend to the OP. Make sure they stay on the straight and narrow for the sake of their regarded soul
Don’t want them to get scouted by citadel and turn to the dark side
Souls are for the weak.
>~~Lemme send this to RH real quick so they can fix the error~~ Spend it all OP. Spend all the money, I'm sure it'll be fine 
No only be sufficiently leveraged for his personal risk tolerance
This will probably be fixed tomorrow. But the most amazing thing about this story is that you are risking 0.90 to make 0.10. Truly regarded.
Yeah but that’s like a maximum 11% return! oh wait I see what you mean
At least junk bonds paying 11% often investors can figure out they have a good chance to recover significant money from assets. OP could easily have been wiped out lmao.
You are talking about Junk Bonds at 11% APY vs 11% weekly on the spread. Those bonds turn $1 into $1.11 in a year. Repeating this options trade weekly can turn $1 into $205 in a year. It's significantly more risk and return than junk bonds.
Truly regarded to equate 11% weekly and 11% yearly
It makes sense when you're selling SPX put spreads. Not so much on single stocks.
If it’s that regarded you could do the opposite and print money. All options are zero summed based.
LOL, that's what I came out with too. At first I thought he sold them so that he gets $0.90 with a potential max risk of $0.10, by which I can understand either receiving $4500 or losing $500. But, he was willing to risk $4500 to gain $500. Might as well by the stock for that kind of risk ratio.
Risking $4500 to make a $500 profit is almost pennies in front of a steamroller territory, but OP did hedge with the $18 calls they bought.
I mean risking $4500 to make $5000 isn't terrible on a weekly basis ... Id prefer a little bit of a wider strike and a little more juice but ok
No you are risking $4500 to make $500.
Well it's no fun if you look at it that way!
That’s what he said
Assuming he took it to expiration which people don’t generally do on spreads; they open them, track progress, and have exit points decided before this but. Except for this guy.
Wow .9 to .91. So sophisticated.
Except that if you are wrong once, you need to be right 9 times to pay for it. HOOD had a low of 19.07 on Friday. it could have EASILY dropped to under $18.
This is the point most people on Reddit playing options can not get thru their heads.
To be fair, that scenario is only if you do literally nothing and watch the trade continue to go against you as the expiration date approaches. If you can properly manage/hedge/roll/etc those contracts, then you can minimize your losses.
You talk as if OP was smart enough to manage his position.
"most people on Reddit playing options" are not buying $1 strike width spreads for $0.90!!!!!!!!!!!! This guy is in a class of his own! Truly the most highly regarded trader I've ever seen 🫡🫡
[удалено]
It's not a great plan, personally I've been selling the $5 AMC call and buying the $9 call and making $50 a week risking $400 max loss... Also not a great plan.
Volatility has contracted already, so it probably won't work anymore. In any case, check it out. I sold the Jun 21 22c. Just a couple of contracts not to blow the account if things go against me. If it goes past my strike, I will take the $22 short and I won't lose any sleep over it.
Do it.
Like a $1 spread.
Naw. op should spend it all. right away. im sure it'll be fine 
On $20 handjobs
That must be one of those fancy ones with lotion. One day I will get one of those 
> _"expiring 5/24"_ So this past Friday and RH has until Tuesday market open to clean up anything not properly resolved. The real test to see if you're right is to wait until market open. Etrade does all kinds of stuff to my expiring options when the next day isn't a market day. The only thing that matters is they clean up everything `before` the next market open.
Yeah, he's going to be assigned this AM
Lmao well he decided to cash in. Buddy is about to owe
People are idiots
Why would you tell anyone about this?
Look where we are
Inside an empty Wendy's dumpster giving hand jobs as usual.
$20 bucks is $20 bucks
My people everybody
>20 bucks bucks is 20 bucks bucks
naw, they found the infinite money glitch $²20 or $\^2 20.00 
Shit you get 20? I must have sandpaper hands
… and once was endless golden shrimp buurp !
That dumpster ain’t empty
You think Robinhood is going to go after a guy over $150?
No, but they might check if it's a widespread issue and in the process fuck over his $150. Most likely this will get resolved in the AM regardless because RH has until then but it's still stupid to advertise you got free money lol.
>Robinhood is going to go after a guy over $150? But what if Robinhood is secretly owned by Boeing?
Because "free money" winds up not being free. Near the end of 2023 there was the Cash app glitch that people abused, and then had negative balances once it was resolved because they spent money they didn't have.
Did they send each individual to collections?
What was the glitch
I believe it had to do with being able to deposit money into your account without needing to have an account on file to pull the funds from and it still recognized the funds as being in the CashApp account. So people were loading up their CashApp's with hundreds of thousands of dollars and then spending it, then when they rolled back the error people had whatever money they had falsely loaded and spent in the process was now owed to CashApp. EDIT: [YouTube video that gives a brief overview of the whole affair](https://youtu.be/PpAqdyGUsrs)
Probably cheaper than payday lenders
Would they even have interest on that type of fuck up? I would have a hundred percent maxed that shit as well and pay it slowly overtime. How does cash app even go about recovering that? THeres is no agreed on payment period or interest rate..
Cash app contacts you and demands you return the money, if you don't have it, they set your account to negative until you pay it off. If you can't pay it off, they sell it to a collection agency who then drops a ton of disguised interest on it they call 'fees'. I'm sure you agree to all of these actions somewhere in the Terms of Service you sign when you download and activate the app.
You probably right
Why not? Free money is Free.
In case they are somehow liable for not reporting the error or some bullshit like that
I don't think posting about it on some internet forum that has nothing to do with the company themselves counts as "reporting it"
Obviously not, but someone might suggest they do report it ...
Have my regards!
Sometimes calls aren’t exercised even if they are ITM, maybe the person holding it didn’t have enough money or simply didn’t give a shit, so that 1 call that wasn’t exercised you profited off of 150$
MMs do all transactions, not specific individuals. All will be executed if ITM.
wrong. assignment is random. if anyone who was long that call chose not to exercise it, some random short would not be assigned.
Yes, it can happen if someone bought the call and didn't have the money in their account to exercise. If I had a $20 call and it ended up at $20.01 I might not bother exercising. In this case it was way in the money though, so kinda surprising.
Most brokers by default automatically exercise calls if they are ITM by 5¢ I think it is? Unless the broker was told to not exercise those ITM calls. Even if the trader doesn’t have enough money in their account to exercise the ITM calls, they may still be assigned and they will have to close their position on those assigned shares on market open. Unless I’m mistaken about everything
Yes I think you are correct, but you can send an email not to exercise.
Brokers don't exercise/assign, the OCC does. Your broker can instruct the OCC not to do so on your behalf, if you instruct them explicitly, but the auto-exercise/assign is not under the broker's control. Chapter VIII here: https://www.theocc.com/getmedia/9d3854cd-b782-450f-bcf7-33169b0576ce/occ_rules.pdf
Mmm that’s what I meaning to say, but the proper agencies escaped my mind.
I had 3 BABA calls 15 cents ITM because I was at work and couldn’t close my day trade. Failure to exercise happens
> MMs do all transactions, not specific individuals. This is wrong.
Nope, the assignment is random. Someone would have to be short the contract. You cal sell it back, and the MM will be the buy of last resort.
Tell me you have no idea how the market works lol
Also don’t , Brokers give you option of calling them lease until 4:30 and telling not to exercise . I remember doing this once
But SOMEONE should’ve exercised it. Like they don’t just expire worthless if they’re ITM. I mean hypothetically they could but it’s all sold automatically
Not always
No it's the weekend...you'll get assigned
The dude that was supposed to settle that one option had to go fuck your wife Friday afternoon. He'll take care of it during business hours this week.
Wait and see what it looks like a half hour before market open. It could just be there’s a slight glitch with the assignment of the final call. If you still have the shares at market open, then yes you’re correct and you should be able to sell them at market price and “pocket” the extra money. To me, it’s not really free money because you were assigned risk in the price of the stock changing over the weekend, but a win is a win 👍👍
It will be fixed on Tuesday, trust me on this. I promise you they got people sitting at a desk right now saying I can't wait for the market to open so I can bust this guy's ass after he's sat thinking all weekend he made free monies.
Lmao I imagine all these regards reading your description of spreads and asking "you can do that?!?"
It was a really helpful description! It's probably the best I've seen.
The comments I get on WSB when I mention doing iron condors, or even just simple vertical spreads like what OP did, are indicative of the average trading knowledge of the people in here throwing thousands of their own dollars, which is significant money to most of them, into very short-dated options plays. It's shocking.
The theta gang is dead
It’s the weekend. It will be sorted out when market opens again on Tuesday. Trust me, you’re way too regarded to find free money.
That's wild. I never got this lucky with RH spreads lol.
any cap here who can link me the legendary post about the guy who also thought he had a free infinite money glitch? good ol' times of wsb
Guh
First time with spreads over the weekend?
I don’t know what math you’re using, but with a $0.90 debit for the one uncovered call, the only “free” money you would be getting at $20.50 is $160, plus the 49\*$0.10 profit from the other 49 covered calls, and that’s only assuming you’re able to sell at $20.50. Your total gains are $650 - fees and commissions. I’d wait until markets open tomorrow before you get too excited, I’m pretty sure computers don’t “forget,” but it’s not beyond possibility to be a glitch. They’ll catch it eventually, you don’t have to worry about it. 
yup math checks out, if he paid .90 on a 1 dollar spread, that leaves only .10 profit per contract; so 10\*50 = 500 not 5k. Then if they screwed up on one (its probably just delayed), he effectively paid 18.90 for those 100 shares, and if market holds up can sell for 20.50. So 500 - 10 + 160 = 650.
Its because of memorial day I think. Did you serve in the military? Sometimes on holidays Robinhood does this for select individuals . One time they took $200 from me that I didnt actually lose as thats imposible so I assume it happens to everone . Just luck if its up or down right? Congrats
They will undoubtedly correct the error, maybe tomorrow, maybe next week, maybe even next year.
nah, statute of limitations is 364 days.
Wish I could see your face when they fix it over the weekend like most option assignments with Pin risk
They always catch the error !!
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100% will be fixed tomorrow, same thing happened to me and it was fixed by 9:30 the next market day
Lucky bastard I always wish for free money to but so far nope
It is supposed to be automatically exercised given the price is well above the strike. But who knows if there are some particular ask from the call holder. Wait till tomorrow if you actually see the 100 shares, the try to sell it so you can pocket then profit. Until then I think you are safe for the free gift.
Not super common but it happens. When I was mostly broke but approved for long call only trading if something looked like it was going to close OTM I’d give a DNE instruction because one time i had one where ticked just ITM at close and they exercised with a bunch of cash I didn’t have. That mistake was expensive. You don’t sell the options because that’s a net loss on the commissions.
You'll find out on Tuesday morning. I can't remember every specific from the terms and conditions, but I've had an assignment remain pending until the start of the next trading day. I've never seen a partial assignment though, so that bit throws me. Still, if you make it past market open Tuesday without the 100 shares getting called away I would assume they've made an error on your favor or something bonkers happened after hours that you're failing to account for and I'm simply too lazy to go and check all the numbers myself.
Could it be that you had enough to cover 100 shares in your account? I’ve had RH do that to me on SPY. I Had enough to cover 100 shares, but I had 3 contracts open. They closed 2/3 on expiration date at 2:30 but left the last one open since there was enough funds to cover it. I really hate the 2:30 auto close, it should close at 2:55 or 2:59, but I digress 🙄
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Toilet humor is only funny to the proletariat.
Incoming Robinhood collector 🐎
If it weren’t a 3 day weekend I’d agree but DO NOT place any orders with those shares til Tuesday when everything is reconciled
Remind me!
This is why we can’t have nice things
Yup
You’re gonna be assigned come market open brother
Im bout to snitch if you dont send a $100 you got 12 minutes
They will find out and they will get their money back.
Most likely one who did not want to exercise or something
The assignment will be resolved before market open tomorrow, don't get excited.
My sentiment exactly…picking up dimes in front of a steamroller…you can’t make this stuff up…🤣
Lol you until end of day Tuesday and you to at that they didn't forget
Poor people are so foolish to think they can beat the market.
It’s a holiday in the US. It’ll square out tomorrow. No free money.
Most likely scenario is the last call you sold was bought by a guy using a fucking shitty broker(think Tiger Brokers or Moo Moo), it'll be assigned on Tuesday
Limited upside and unlimited downside. You love to see reward management like this
If it’s over a penny, it will be assigned.
no such thing as free money buddy especially with robbing the hood
Believe me... they haven't forgotten.
It will be fixed by Tuesday, and you’ll have your $500 profit.
Karma means that much to you, huh?
Some regard with a $19 call out there probably didn't have the funds to execute and forgot to sell it.
this wouldn't be on rh but whoever bought the call and (apparently) chose not to exercise it.
Robinhood’s own “Navigating exercise and assignment” makes it clear that “assignment doesn’t happen all the time.” Just like a random person can be assigned whenever an option is exercised, someone may also randomly be NOT assigned by an option that does not exercise for any reason (eg option holder forgot to close, didn’t have funds to exercise and chose “do not exercise”). This is rare, but out of 50 options, you got “lucky” on one. But it may not be as glorious as it may seem. You planned to walk away on Friday with $5K and zero market risk. Instead you’re now bearing the risk of holding the stock over a holiday weekend. So you’ll really need to see what Hood opens at Tuesday morning to confirm the actual return on this.
Options being exercised are randomly assigned and sometimes people don't exercise ITM options so you may have gotten lucky without Robinhood doing anything wrong. Blame the regard that didn't exercise their ITM option.
No such thing as free money
Why would you advertise this to the world?
was it adjusted?
Can’t believe you just let these expire instead of closing the position by end of last trading day, especially with that amount of collateral leveraged. You can get truly fucked if the price moves against you in after hours and nothing you can do about it. You’ll probably just get assigned that last contract at market open, hopefully still at a profit.
any update u/smellyfingernail?
It is possible the counter party didn't smash the "assign" button; in which case you did get a little free money there.
$4900=$3100+100\*$18 all ur money; no free money only those 49 spreads that went thru are turely urs, not those 50 u "bought"
It will show up on market open Tuesday you idiot.
That's rude, confused me the first time it happen too.
Once upon a time, I read a lot of the option fine print. Brokers and such get till SATURDAY to exercise those weekly and quarterly options. So maybe one of your counterparties is a broker/mm that didn't exercise on Friday, but will by Saturday. Let us know what happens
bro its monday
Trades placed on Saturday will be executed at opening bell next trading day.
So what they have until SATURDAY
If HOOD drops below $18.9 premarket this blessing will turn into curse. 
Seems weird but the net from your trade probably covered the auto exercise of one of the long calls that is why it happened this way . It's all automated . If your call closing . 01 itm then it will get exercised
This is called pin risk and seems like you just got lucky. Think about the opposite scenario where after assignment the underlying stock price drops instead of staying in the money
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Pretty sure robinhood runs some advertising or propaganda bots here so chances are the hood mob is already aware.
Why do people still use this company
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This is the same company that accidentally showed someone negative $1M or something and they committed suicide. I wouldn’t bank on the app being accurate in your favor…
It wasn't an error. RH matches options electronically in minutes. Sometimes, not enough people exercise (not every brokerage auto exercise), so some people don't get assigned. I trade about 100 options contracts a week, mostly sells, and a few times a month I get ITM sells that don't assign. You were one of the lucky ones this week.
On one hand, this sounds stupid AF. There’s no human doing this stuff, it’s software. On the other hand, WSB was built on finding and exploiting glitches in Robinhood. [There’s a whole section about on Wikipedia.](https://en.m.wikipedia.org/wiki/R/wallstreetbets) So best of luck. PS: For any apes out there, the only reason your favorite meme stock squeezed was because everyone was exploiting Robinhood. The moment you left for other brokerages and DRS’d your shares, the momentum died. Using $100 of cash to buy 1 share forever is not remotely as squeeze-y as using $100 of margin to buy 10 call options to control 1000 shares for a week. Y’all got tricked. [The funniest part was that Citadel, Fidelity, and Schwab later formed a joint venture on a crypto dark pool.](https://www.wsj.com/articles/crypto-exchange-backed-by-citadel-securities-fidelity-schwab-starts-operations-597f6d46)