VIX December call quote

[fh2000]

VIX index is now at 21.97. The quotes of VIX December $10 call is 8.4/8.6 per Yahoo, and MarketWatch site:

VIX Options Chain - CBOE Volatility Index Options Chain - MarketWatch

How isn't there at least intrinsic value for at least 11.97 + little bit of time value?

 

[DrRoy]

I think it implies that the VIX is expected to be lower in December.

 

[ERD50]

I wouldn't trust any bid/ask after market - gotta look at it in real time while it is open.

But I'd agree with DrRoy - volatility is probably high before the election, and would be expected to drop afterwards. Not that that makes sense to me, but it probably is just how it is.

 

[Curmudgeon]

How isn't there at least intrinsic value for at least 11.97 + little bit of time value?

It is at $10 + 11.97 + time value, it's just that in this case the time value is negative

 

[FIRE'd@51]

VIX options are priced off the VIX futures, not the spot VIX. The Dec VIX futures are trading around 19, so the option looks fairly priced to me.

VIX Term Structure