USO Dec'22 Options cost 20 times less than options in 30 days or so

External question — Personal Finance Stack Exchange Author: Igor Original post: https://money.stackexchange.com/questions/125878 License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/ Adaptation: HTML converted to plain text; contact email addresses removed. I am confused. I have long term USO (600+ days) options and currently they are trading 20 times lower than the same options that expiring 20 days from now. Should't the long term one have time value + intrinsic value? Both ITM of course. What am I missing here? Are they going bankrupt soon or what?