Greetings to everyone, I am very new to options. Planning to start very slow and very small. Form time to time I get some questions, answers to which I canât find in the âsurfaceâ literature (right now Iâm starting with such) and need someone who is in âoptions themeâ to help me with them. It could also be some points on which I might need confirmations from options folks. I am planning to put such questions in this thread from time to time, and would really appreciate time of those who reply. Questions are very simple. Please donât tear me to pieces for that. Thanks to all in advance for the input (I hope Iâll get some) QUESTION#1 This is the âSeptember 07 (ESU7)â ES call option. ES is currently trading at 1486.5 Bid / Ask / Strike 37.00 / 37.75 / 1470 #1. THE VALUE OF OPTION To get the number for the value (assuming I want to buy at the market) I need to multiply the ask by 50. Is this correct? (So in this particular case the premium I would have pay would be equal to 37.75*50 = $1887.5) #2. INTRINSIC & EXTRINSIC Intrinsic value = 16.5 points Can you tell extrinsic value from the quote?