Robinhood Stock Soars After Extending Trading Hours

Call traders have been quick to jump on the news

Deputy Editor
Mar 29, 2022 at 12:33 PM
facebook twitter linkedin

Robinhood Markets Inc (NASDAQ:HOOD) is gathering plenty of attention today from the investing world, after the trading platform announced that it will extend its hours as it works towards its goal of 24/7 investing. Robinhood will increase pre-market trading to 7 a.m. from 9 a.m. and after-hours to 8 p.m. EST. The stock is soaring in response, up 24.7% to trade at $15.98 at last check. 

This positive price action has HOOD breaking past pressure at its 60-day moving average, which has kept a lid on gains since mid March. Year-to-date, however, the equity is still down 10.2%. 

HOOD March29

Short interest has been on the rise, and the 59.27 million shares sold short account for 8.2% of the stock's available float. In other words, it would take nearly three days to buy back these bearish bets, at Robinhood stock's average pace of trading. 

Options traders are targeting HOOD with fervor after the news, particularly options bulls, with overall options volume pacing for the top percentile of its annual range. So far, 437,000 calls have crossed the tape, in comparison to 82,000 puts. The weekly 4/1 16-strike call is the most popular, followed by the 15-strike call in the same weekly series, with new positions being bought to open at both. 



How to collect 1 dividend check every day for LIFE

Did you know you could collect 1 dividend check every day the market is open? You could also do it starting with just $605! For me, I'm collecting 70 dividend checks every quarter…which averages around 1.1 dividend checks every business day. There's no trading behind this... no penny stocks or high-risk investments. All you do is buy and hold and you're set. There's no set up required either. If you start buying the dividend stocks I show you today... you could collect 1 dividend per day starting as early as this week. Click here for all the details.