Not 100% on this but I suspect the in the money puts start to be dominated by the inherent value so you have to pay for that in the money portion of the option price. The out of the money put is pure volatility.
Not 100% on this but I suspect the in the money puts start to be dominated by the inherent value so you have to pay for that in the money portion of the option price. The out of the money put is pure volatility.