Does an Option’s Premium Ever Equal Its Intrinsic Value before Expiration?

Theoretically, an option's premium will rarely equal its intrinsic value before expiration because of the time value component. Even with a very short time remaining, there is usually some non-zero time value due to the possibility of a final price move.

However, for deep ITM options very close to expiration, the time value can be negligible, making the premium very close to the intrinsic value.