– I bought a 1-contract put a few weeks ago.
– I am now in profit and am ready to close the position by selling the put.
– When I go to sell it, I see my “+1” on the option chain for the contract that I own. So far so good.
– I click the price next to the option and it says “1 Contract Available.” OK.
– I enter “Sell – 1 Contract” and my limit price.
– I get this error: “You don’t have enough buying power for the collateral needed to sell”
I understand needing collateral to OPEN a short put contract, but I already own 1 put contract and am trying to sell that one. In other words, I’m going to CLOSE the position and zero out. I’m not initiating a new position. So why is it asking for collateral?
I have tried every button and link in the app and the desktop website. There is no “Sell to Close” option anywhere that I can see.
WTF? RH asking for collateral to sell-to-close a put contract? – RobinHood – Reddit Feed
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