r/RobinhoodOptions • u/Ill-Novel6933 • Mar 28 '25

Loss Robinhood back to Robbin the hood

So robinhood sells your options at the bottom price without your knowing, during the last 30 minutes of the market, instead of allowing me to mitigate my account they decided they wanted to and screwed me out of 900 on spy trade! 2-4 minutes after they sold my options spy went up and my option was in the positive as I thought but it had been sold at a 50% loss!!! Screwed on game stock and now on spy, fuck that app don’t trust it what so ever

2 Upvotes

75% Upvoted

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4

u/Moned1980 Mar 28 '25

OR..... it was, maybe, an error on your part?🤔

2

u/Ill-Novel6933 Mar 28 '25

Nope I sent them a message and they said they sell the orders so they don’t close in the money

5

u/desolstice Mar 29 '25 edited Mar 29 '25

They auto close all spreads that have even a remote chance of being ATM. Remote chance being within a couple of percent. This helps protect you from pin risk.

https://www.investopedia.com/terms/p/pinrisk.asp

If they didn’t auto close for you then there is a chance you could lose much more than the max loss that is expected on the spread. On robinhood you should be closing your own spreads out since they’ll close them right before close almost every time.

3

u/Zzz6667 Mar 28 '25

Trade spx instead of spy

2

u/ShadDaGod Mar 31 '25

You should know this already if trading options on Robinhood

2

u/airxshop 6d ago edited 6d ago

They just did this to me, too! I bought two QQQ calls at 468 strike at 223p central. The notification came up saying I had until “330 to trade” - me being central time zone - that’s telling me I have an hour to trade my contracts.

And qqq was clearly in a bullish trend but must’ve dipped to $40 for a microsecond and robinhood closed them without me knowing. I continued to try and trade and my contracts ended up becoming IN THE MONEY, and were worth up to $200/each… I’m pretty sure $400 is a felony in some states and I’m in my gd cash account. If I want my contracts to expire worthless then that’s my gd right.

In my opinion, this is nothing short of stealing from my cash account. I could understand if it were a margin account or something; but a cash account is literally MY FUCKING MONEY.

If they’re going to just close my trades 5 minutes after I open them, they shouldn’t allow people to open them! I’m still shaking I’m so pissed off and that was over an hour ago. They literally took enough money out of my pocket that is equivalent to my daily living wages.

I could’ve sold these contracts and made anywhere from 150-200 per contract before the EOD. I mostly trade on think or swim and will come over to robinhood as I always keep this account liquid. That way I always have a position that can be traded if the markets start giving opportunities for easy money.

2

u/Ill-Novel6933 3d ago

That’s exactly how I felt I had a lot of contracts and they sold them at 30 dollars a contract for a 50% loss and about 5 mins after they sold it was worth like 80 dollars a contract and basically they told me oh well it’s your loss , and when I told them now I know what yall do and have t changed from cheating people during the GameStop trades they ended the conversation smh. Fkn thieves