Subject: Re: Put ask price higher than Strike
The stock price is currently 2.24, and here are prices for options expiring in about a year:
Strike price of 5. Bid is $1, ask is $5.20
Another Strike is 7.50. Bid is $3.50, ask is $8.50

That kind of wide open bid/ask spread is meaningless. It's basically the market maker saying I'm closed for business, unless you're a sucker. If you make a reasonable offer inside the spread, the market maker will take it.

Elan