Strong Sell SPCX by Dec 21, 2026.

Hi all, I bought a LEAP Put for space X - 15 Jan 2027 strike price $100. I know it's a casino so it was more just a test than anything else. I bought it for 7.44 when the stock price was about 195. It's 185 today but the option itself is 6.80. I know there's a long long way to go but is this because I bought it at high IV, so even if the stock price is lower …