With CBA trading at $31.56 CBAWOJ yesterday had a spread of...

With CBA trading at $31.56 CBAWOJ yesterday had a spread of 7.1/7.6 Today at $31.56 it is trading at 6.2/6.7.

I know it is a fair way OTM with an exercise of $34 but with over 6 weeks to expiry how could it lose 1 cent or nearly 20% overnight.The Delta hasn`t changed and is still at 0.04.

I rang Citiwarrants and the explanation was Vol. has changed.

Is this right or just another shonky MM.

Cheers