This Quick Release Sleeved Bit Holder is a magnetic bit holder that firmly holds on to the bit. The magnet is strong enough to hold both the bit and the screw. You can quickly switch between bits with this magnetic bit holder, so you don't waste any time. Helps to make the drilling process far easier as the screw is held securely in place and does not have to be held in position. 

Key features:

• Firmly holds bit 
• Quickly switch between bits
• Makes drilling easier