SteveNix, I'm not the option guy. S2, I'm sure would have the better answer. I would think that the $1½ that you query would be time decay and volatility. Take off the time value from the intrinsic price and the volatility value would be pricing in the bear rally that may have already seen it's peak as it approaches May op ex. There should be a lot of money in the calls bought during this leg up that 'the boys' will want to smoke in 7½ trade days from now. The move down for op ex and off the top of this run, adding in the Financial's capital raising parties on a daily basis and where I read that the decrease in earnings has the S&P500 up at 22/23 X earnings. The wheels coming off shortly might cut that volatility value the rest of the difference. As I said. I'm not the option guy, but....... S2 how far off base is my guess?
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