The Quick Release Magnetic Bit Holder You Have To Have. In today's fast paced world and everyone up against a time line, you don?t want to work harder, but smarter. The Quick Release function will save you time. Changing bits takes just seconds. Push the Quick Release foward with ease, pop the bit out, insert a new one and let go. The Quick Release pops right back into place. It?s that easy. Designed for use with any length and type of bit. Made of Stainless Steel. Available in 2-1/3" & 3"