Why can’t I place market orders on options?
Robinhood does not support market orders for options contracts due to greater volatility in the options market relative to equities markets. Placing limit orders will give your order a better chance of being executed at the price you want. This way, you’ll know how much you’re going to pay to buy a contract.
You can place Good-til-Canceled or Good-for-Day orders. Your app’s default setting is Good-for-Day, but if you’d like to enter a Good-til-Canceled order, you can simply tap the clock icon and select Never Expires when you place your order.