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6:29 How to enter this trade on Robinhood
A brief overview of bull call spreads and how to enter them on RobinHood. You may have to upgrade options level in settings. Bull call spreads are an excellent trading strategy if you want to use less capital to enter the trade, and/or want to increase your probability of profit. They are a type of vertical spread. This means that they involve two legs (options) of the same kind (in this case calls) where one is purchased and the other is sold. They must have the same expiration date to be a vertical. Their only difference is their strike prices.
This is a debit spread, so you pay premium to enter the trade. You should have a predetermined % profit where you will close at, and you will “sell-to-close” this trade, and any profit+initial investment will be credited to your account.
This video also shows how to input this trade in Robinhood. I have a separate video on inputting any type of options trade into Robinhood, and you will have to refer to this from now on because I will not be including input examples in future videos since it becomes to repetitive. Thanks!
Please let me know if I said something that is incorrect!