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What Is the Minimum Price an Option Can Trade For?

The minimum price an option can trade for is its intrinsic value, which is always greater than or equal to zero. In a liquid market, an option's premium will always be at least its intrinsic value, and typically slightly higher due to some time value.

If an Option’s Premium Is 0.05 BTC and Its Intrinsic Value Is 0.02 BTC, What Is Its Time Value?
What Is the Difference between an Option’s Intrinsic Value and Its Time Value at Expiration?
How Is ‘Time Value’ Related to Intrinsic Value?
What Is the Maximum Intrinsic Value a Put Option Can Theoretically Reach?