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Even with only 4 days to maturity, an implied volatility of 61% means that the market believes that there is a decent chance that the stock will dip below 75 (only a 6% drop) over the next 3 days.

I'd like to know how you get to 0.40.

The dominant model in options pricing, the black-scholes model, prices the option you quote at $0.42 with a delta of 0.15, meaning that there is roughly a 15% probability that the stock will drop below the strike. So the market apparently thinks that there is a decent changechance that the stock will drop enough to trigger the option and is willing to pay for that option.

Even with only 4 days to maturity, an implied volatility of 61% means that the market believes that there is a decent chance that the stock will dip below 75 (only a 6% drop) over the next 3 days. The dominant model in options pricing, the black-scholes model, prices the option you quote at $0.42 with a delta of 0.15, meaning that there is roughly a 15% probability that the stock will drop below the strike. So the market apparently thinks that there is a decent change that the stock will drop enough to trigger the option and is willing to pay for that option.

Even with only 4 days to maturity, an implied volatility of 61% means that the market believes that there is a decent chance that the stock will dip below 75 (only a 6% drop) over the next 3 days.

I'd like to know how you get to 0.40.

The dominant model in options pricing, the black-scholes model, prices the option you quote at $0.42 with a delta of 0.15, meaning that there is roughly a 15% probability that the stock will drop below the strike. So the market apparently thinks that there is a decent chance that the stock will drop enough to trigger the option and is willing to pay for that option.

2 added 25 characters in body
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Even with only 4 days to maturity, an implied volatility of 61% means that the market believes that there is a decent changechance that the stock will dip below 75 (only a 6% drop) over the next 3 days. The dominant model in options pricing, the black-scholes model, prices the option you quote at $0.42 with a delta of 0.15, meaning that there is roughly a 15% probability that the stock will drop below the strike. So the market apparently thinks that there is a decent change that the stock will drop enough to trigger the option and is willing to pay for that option.

Even with only 4 days to maturity, an implied volatility of 61% means that there is a decent change that the stock will dip below 75 (only a 6% drop) over the next 3 days. The dominant model in options pricing, the black-scholes model, prices the option you quote at $0.42 with a delta of 0.15, meaning that there is roughly a 15% probability that the stock will drop below the strike. So the market apparently thinks that there is a decent change that the stock will drop enough to trigger the option and is willing to pay for that option.

Even with only 4 days to maturity, an implied volatility of 61% means that the market believes that there is a decent chance that the stock will dip below 75 (only a 6% drop) over the next 3 days. The dominant model in options pricing, the black-scholes model, prices the option you quote at $0.42 with a delta of 0.15, meaning that there is roughly a 15% probability that the stock will drop below the strike. So the market apparently thinks that there is a decent change that the stock will drop enough to trigger the option and is willing to pay for that option.

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Even with only 4 days to maturity, an implied volatility of 61% means that there is a decent change that the stock will dip below 75 (only a 6% drop) over the next 3 days. The dominant model in options pricing, the black-scholes model, prices the option you quote at $0.42 with a delta of 0.15, meaning that there is roughly a 15% probability that the stock will drop below the strike. So the market apparently thinks that there is a decent change that the stock will drop enough to trigger the option and is willing to pay for that option.