### Comment:
Right, I know there wouldn't be much, but just to clarify--is the extrinsic value actually equal to theta \* number of days left + IV \* vega? (assuming these were constant). Typically, for a well-priced option, I assume I could take the price and subtract how deep in the money it is, but I'm curious as to how to actually find the extrinsic value here. Thanks!

### REPLY:
it's based on the black-scholes model so it's not that simple. i've never found a reliable calculator for it and most online tutorials just define extrinsic value as price - intrinsic so that's kinda useless too 
  
 with bid/ask where it is, you're at a higher risk of volatility screwing you than you are of getting a bad fill or losing some of your time premium

### END.