Why is this option bid so high?

Oh. Well, bids have to be honored so looks valid. Possible for stocks that very volatile, unless your broker doesn’t show the correct price. Also likely on distant expirations.
You can try selling naked or covered calls on it :)

Yeah, I wouldn't sell a naked call on it. Yikes! But a CC looks pretty good. It's priced a little better than the naked put.
It just doesn't make sense for an MM to bid more than 50% of the stock price.
It's a Jan. expiry, so...
 
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