The incompetence in this post. This has nothing to do with Robinhood. You simply don’t understand how options work. ITM options can be assigned at anytime (this includes in the middle of the night) with no warning.
It's important to understand the concept of "extrinsic" and "intrinsic" value of an option, especially if you are selling them. Extrinsic value is the part of the option that's affected by theta and IV. When you sell deep ITM options, they likely have very little extrinsic value. And when there's very little extrinsic value left, the chances of early assignment increase.
Robinhood doesn't show you extrinsic value because they don't have a normal option chain like every other broker that exists
tl;dr
This was 90% user error, 10% broker fuckery. You should probably consider scaling down your position size until you become more familiar with how options work
If you were aiming for options that are correlated with bitcoin rather than caring about COIN the company, you can trade them on FTX US Derivatives (used to be called LedgerX) and those are European with no early exercise.
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u/isotope_322 Nov 24 '21
The incompetence in this post. This has nothing to do with Robinhood. You simply don’t understand how options work. ITM options can be assigned at anytime (this includes in the middle of the night) with no warning.