Rounding out its offering on the options trading front, Robinhood rolled out multi-leg options strategies on its platform.
In a blog post announcing the new feature, the free stock trading mobile app operator said that multi-leg options strategies improve the options experience for traders and give them more control over their investments.
“There are a lot of strategies … that options traders need to be successful,” said Chris O’Neil, product manager for Robinhood’s options business, in an interview with Investopedia.
Prior to the multi-leg options strategies launch, traders couldn’t easily access these strategies on the platform.
“This is a way to solidify our offering,” said O’Neil, noting that Robinhood got into the options market in a more robust way in December and that it has had more than $2 billion in options volume since then.
“We’ve seen explosive growth, with options trading growing month over month. More people are choosing Robinhood over competitors, whether it’s first-time options traders or someone that has years of experience.” The executive noted that Robinhood has lowered the barriers of entry for options trading, including price and complexity, which has contributed to its growth.
According to Robinhood, multi-leg options strategies have been one of the most requested features by options investors.