I was looking to buy jan11 puts on AIG and I noticed that some contracts were only good for 5 shares because of the 1:20 reverse split.. But why do those contracts have such a HIGH bid and ask price if they only control 5 shares, shouldn't they be lower than the normal contracts? example: 2.50 strike price jan 11 ............................Bid Ask 100 share contract 0.19 0.24 5 share contract 1.24 1.37 Maybe the 1.24 is the price of the whole contract and not per share. So the per share on the 5 share contract would be 0.248 bid for example. That is still high though.