Robinhood Users Struggle to Cash in on Winning Bets Against Silicon Valley Bank

Robinhood users who purchased put options on the now-collapsed Silicon Valley Bank and Signature Bank are unable to cash in on their profitable bets, as the trading app is not allowing them to sell their contracts or get paid. Robinhood's reasons for not letting users exercise their options are due to the logistical nightmare of buying the shares if they don't already own them to satisfy the contract. Fidelity has also faced criticism for its failure to pay up. Users are questioning why they were allowed to buy put contracts on stocks they didn't own in the first place.