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What is the process for closing a put option on Robinhood with digital currencies?

avatarProfessorMAZENov 29, 2021 · 3 years ago3 answers

Can you explain the step-by-step process for closing a put option on Robinhood with digital currencies? I'm new to options trading and would like to understand how to close a put option specifically on the Robinhood platform.

What is the process for closing a put option on Robinhood with digital currencies?

3 answers

  • avatarNov 29, 2021 · 3 years ago
    Sure! To close a put option on Robinhood with digital currencies, follow these steps: 1. Open the Robinhood app and navigate to the options trading section. 2. Find the specific put option you want to close in your portfolio. 3. Tap on the option to view its details. 4. Look for the 'Close' or 'Sell' button and tap on it. 5. Enter the number of contracts you want to close. 6. Review the order details and confirm the trade. 7. Once the trade is executed, your put option will be closed and the corresponding digital currencies will be credited to your account. Please note that the process may vary slightly depending on the version of the Robinhood app you are using, but these general steps should guide you through the process.
  • avatarNov 29, 2021 · 3 years ago
    Closing a put option on Robinhood with digital currencies is pretty straightforward. Just follow these steps: 1. Open the Robinhood app on your device. 2. Navigate to the options trading section. 3. Locate the put option you want to close in your portfolio. 4. Tap on the option to view its details. 5. Look for the 'Close' or 'Sell' button and tap on it. 6. Enter the quantity of contracts you wish to close. 7. Review the order details and confirm the trade. 8. Once the trade is executed, your put option will be closed and any digital currencies associated with it will be added to your account. That's it! You've successfully closed a put option on Robinhood with digital currencies.
  • avatarNov 29, 2021 · 3 years ago
    Closing a put option on Robinhood with digital currencies is a breeze! Here's how you do it: 1. Open the Robinhood app and go to the options trading section. 2. Find the put option you want to close in your portfolio. 3. Tap on the option to view its details. 4. Look for the 'Close' or 'Sell' button and give it a tap. 5. Enter the number of contracts you want to close. 6. Take a moment to review the order details and then confirm the trade. 7. Once the trade is executed, your put option will be closed and the digital currencies associated with it will be credited to your account. Easy peasy, right? Enjoy your trading experience on Robinhood!