Trade of the Week: Robinhood

Memestocks, Options, Trade of the Week
by Jay Soloff
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Options action returned in a big way last week to the meme stocks, made famous in 2021 through Reddit user groups.  The primary platform for trading those meme stocks (and their options) was (and still is) Robinhood (HOOD).  The popular mobile brokerage platform has struggled quite a bit since its heyday.  However, heavy options activity in HOOD options may suggest the stock is about to become relevant again.  A large combo trade in May options is at least one very bullish trade from last week.

Author: Jay SoloffJay Soloff is the Options Portfolio Manager at Investors Alley. Jay is also the editor for 48-Hour Income, Options Insiders, and co-editor of Weekly Income Accelerator and POWR Income with Tim Plaehn. Prior to joining the online investment world, Jay was a floor trader and market maker on the CBOE, the world's largest options exchange. His experience includes trading a multi-million dollar options portfolio in equities options as well as serving as a consultant to Wall Street options trading groups. Jay also spent time as a senior analyst at a hedge fund of funds, where he analyzed professional options funds as well as traded option strategies for hedging purposes. All told, Jay has 20 years of options trading experience. He received his undergrad degree in Economics at the University of Illinois - Champaign, and his MBA and Master of Science in Information Management from Arizona State University.
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