Strikes: Next-gen trading app with intuitive tools and no hidden fees
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But when implemented properly options trading can provide 2 key benefits: boosting potential profits and mitigating associated risks. How else would retail traders be able to preserve their investments in case of a market crash?
Also, to be clear: options are still high risk, you can't predict the future. Robinhood options leaves much to be desired, and I think an app focused on options will go a long way for traders because they don't have enough information.
I will also highlight that a lot of people have been burned by not being able to act on their positions via robinhood due to the platform falling over from demand. This is the chief reason I won't do options trading. Would love to see assurances that when I need to exit a position i'll actually be able to, such as having an SLA.
You say that "options are high risk coz we cannot predict the future".. well, everything is a high risk then since most people imo cannot do that :) Stocks can be no less risky than options - when the company goes bust shareholders oftentimes lose 100% of their investment. But with options people can fine-tune their exposure and risk profile. For example, owning stocks and reasonably OTM puts would mitigate the investor's exposure to that particular company.
I find your concerns about options trading reasonable though, especially after the Robinhood experience. Just like you said RH doesn't provide any meaningful tools effectively turning options trading in a compulsive gambling. The way how they treated their clients (in fact not clients but an inventory, MM are their real customers) leaves much to be desired, and yes, retail options traders should have an SLA in place with their broker unless they don't mind being an inventory.