$MO , Hi new to the MO board , I’ve been looking at call options. Can anyone explain the 32 1/2 Jan 15 2021 calls ? There’s 10 Months till exp and the options last traded at 7 And the spread was 4.75 by 8.40 . Stock is 4 points itm . Do options no longer account for time value ? Or is it due to the volatility. I just think these seem strangely cheap . Any input would be appreciated. Thank you .