Conclusion (TL;DR)
On Robinhood you can place this order in four quick screens: (1) open the QCOM option chain, (2) pick the 13-Jun-2025 expiration, (3) tap the $150 Put and choose “Buy”, (4) set a Limit price of $3.90 and submit. Your maximum loss is the $390 premium per contract, while gains accelerate if QCOM drops below the $146.10 break-even at expiry (current stock ≈ $147.841).
Step-by-Step on the Robinhood App
| Step |
What to tap / enter |
Tips & what you’ll see |
| 1 |
Search QCOM → tap “Trade” → “Trade Options” |
If Options aren’t enabled yet, Robinhood will guide you through a brief approval flow. |
| 2 |
At the top of the chain, swipe the expiration bar until you see Jun 13 ‘25; select it. |
Weekly expirations are bright-green; confirm the date shows 6/13/2025. |
| 3 |
Tap “Puts” (right side). Scroll to the $150 strike. |
The row will show Bid / Ask; midpoint ≈ MEP. |
| 4 |
Tap the row → choose Buy → choose 1 Contract (or more) → Review. |
The order ticket now says “Buy 1 QCOM $150 Put 13 Jun 25”. |
| 5 |
Above the “Swipe up” button, tap Order Type → select Limit Order. Enter 3.90. |
Mid-price moves; you can 1) start at 3.90, or 2) tap the “i” icon to see current mid and adjust ± few cents. |
| 6 |
Time-in-force: Good-for-Day (GFD) is fine; use GTC if you want it to rest overnight. |
|
| 7 |
Confirm buying-power, then Swipe Up to Submit. |
No commission on Robinhood; the app immediately shows “Pending”. You can cancel/modify if it doesn’t fill. |
Trade Parameters at a Glance
| Contract Details |
Value |
| Underlying |
Qualcomm (QCOM) |
| Current stock price |
$147.841 |
| Option type |
Long Put |
| Expiration |
13 Jun 2025 (≈ 53 weeks) |
| Strike |
$150 |
| Limit (MEP) |
$3.90 |
| Cost per contract |
$390 (premium × 100) |
| Break-even at expiry |
$150 – $3.90 = $146.10 |
| Max loss |
Premium paid ($390) |
| Max gain |
Theoretical $14,610 if QCOM → $0; practically capped by underlying’s decline |
Practical Tips
-
Fill strategy:
• If the bid/ask is wide, placing the limit a few cents above the midpoint often fills faster.
• You can edit the order after placing (tap the order → Modify → change limit).
-
Monitor Greeks (tap the ≡ icon on the contract page):
• Delta ≈ –
6/5/2025 07:29pm
