What does this mean and how do I execute it on the Robinhood app?[ONT]SELL TO CLOSE THE CMG JUNE 13, 2025 54-STRIKE PUT AT 1.58 OR BETTER

**Bottom-line** “SELL TO CLOSE the CMG 13 Jun 2025 $54 PUT at 1.58 or better” means you already own that Chipotle (CMG) put option and you want to exit the position by placing a **limit-sell order** for **$1.58 per contract ( $158 credit ) or higher**. In other words, you’re asking the market to pay you at least $1.58; if someone is willing to pay more, that’s “better.” --- ## 1. Decoding the sentence | Piece | What it means | Practical takeaway | |-------|---------------|--------------------| | SELL TO CLOSE | You are the **seller**, but only to **close** an existing long position—this is not opening a new short. | You must already hold the contract. | | CMG | Underlying stock is Chipotle Mexican Grill. | Make sure you’re on the CMG options chain. | | 13 Jun 2025 | The contract’s expiration date. | Verify the correct expiry row in the chain. | | $54 PUT | Strike price and option type. | Look for “54 P Jun 13 ’25.” | | at 1.58 or better | A **limit price**. For a seller, “better” = **higher premium**. | Enter $1.58 as the limit; fills occur at ≥ 1.58. | --- ## 2. How to execute it in the Robinhood mobile app 1. **Open the app** and tap the **Magnifying glass** (Search). 2. Type **CMG** and select Chipotle Mexican Grill. 3. Tap **Trade → Trade Options**. 4. On the top bar, swipe to **June 13 2025**. 5. Scroll the strikes until you see **54 Put** (it should show “In Position” in gold text). 6. Tap that row; your open contract(s) will appear. 7. Tap **Sell** (because you’re closing). 8. Order type: choose **Limit Order**. 9. **Contracts**: enter the number you hold (usually 1 unless you purchased more). 10. **Limit Price**: type **1.58**. 11. **Time-in-Force**: Day (or GTC if you want it to remain active). 12. Review the estimated credit (e.g., $158 per contract), slide **Submit**. 13. You’ll see “Pending” until the market buys from you at $1.58 or higher; you can cancel/modify at any time before it fills. --- ## 3. Tips & “gotchas” • If the bid-ask is, say, 1.40 × 1.65, a 1.58 limit sits inside the spread and has a fair chance to fill. • Robinhood shows option prices **per share** but settles **× 100**; don’t be surprised when $1.58 displays as $158. • Verify you are using **“Sell to Close,”** not “Sell to Open,” to avoid unintentionally shorting the option. • “Better” only goes one way for sellers: if you can get 1.65, your order will fill at that higher price. • Market liquidity after Chipotle’s 50-for-1 split means strikes look numerically low—that’s normal. --- #### Quick check If your Robinhood position list already shows “CMG 6/13/25 $54 Put 1 Contract – Avg Cost $X,” then you’re ready. If nothing appears, you don’t own it and can’t sell to close. *Hope that clarifies the jargon and the exact taps needed—good luck closing the trade!*