I have a LEAPS for XSP that expires Dec of 2026 and currently has a delta of 0.83. However, when I try to do a CC on it with an expiration of this coming Friday it tells me: "This strategy is unavailable because it comes with unlimited risk". There is a "Dismiss" button and when click on it there is a "Submit" button available. If I click it will Robinhood actually submit my order for the CC?
I've done PMCC with other options (though much cheaper) with Robinhood so I have not seen this before.
Posted by Eves98
1 Comment
What level options do you have? I do PMCC on RH and never had this issue but they are on individual stocks versus index funds. That is likely why it is throwing this statement but will still allow it since you have the LEAPS.