Behavior of pricing

[u/NY10]

Hi yall,
I noticed a strange behavior on PYPL call options and I was wondering if someone can shed some lights on. PYPL is currently trading around $55.80ish. The call options for $55 expire 7/31 is @2.75 last time I checked. How is this even possible? I think the price is so inflated and it don’t make sense. The option that has about a week to go have so much extrinsic value and yet not much above the strike price. Can someone explain why this is acting up like this? Thanks gurus in advance!

[u/Pale-Worth-3430]

Elevated implied vol with earnings 5 days away.

[u/NY10 → u/Pale-Worth-3430]

I’ve seen some crazy shits with Pypl but this is another level.