Quote from spinn:
That would be my question too....how are they better than in the money options?
Its relative and without going off on tangents, there are many considerations depending on the underlying and how aggressive a mover it is, time til expiration, etc.
Ill give you a real world example. Take GOOG right now this morning. Its tanking by over $7 a share, but the in the money JAN put barely appreciated by $4, while the JAN SSF contract is down $6.80.