Robinhood is automatically initiating GME sell orders on users' behalf
Yes I can confirm. Robinhood sold 3 of my GME options as I was selling some of my other positions in order to exercise 3 GME $115C JAN29 for $150 and 6 ACM $7C for ~$5 for me at 2:13pm on 1/29/21.<p>This was when both stocks were near the lowest point during the day.<p>I had ~$110,000 total portfolio with many positions holding penny stocks strictly so I would be able to unload in the afternoon. I had been exercising AMC $7C all day and 2 of them were not sold automatically as I had sell limits on them.<p>Immediately after, both GME and AMC prices went up.<p>This is criminal on a level I have not seen before. An options contract gives me the right to buy the shares at a certain price and that right was taken away from me.<p>The total difference in the GME contracts from the point at which they sold mine and the average price all day was about $35k less. This. Is. Criminal and it must be shut down completely.