How do I turn my BIGO options into shares, page-4

What I don't understand is that right now there are bids in the queue for the heads priced at 70c and asks for the options at 44c.
Given that the strike price is 25c, you can buy and convert the options for 69c (i.e 25c + 44c), and simultaneously sell the heads for 70c, yielding a 1c risk-free profit. Why isn't this being arbitraged away? Is it just there isn't enough volume to justify the transaction cost?