Samuel Lee : the volume for DLC is primarily set by SocGen, the issuer as market-maker
essentially the idea is to realize the 5x of underlying stock movement (either long or short).
so there is no speculative value, but of course it is quite common to place a trade between the bid and ask since the spread might be 3 cents at times.

Calvin123 : just buy from or sell from the bid or ask price if want to trade.

Calvin123 : as the price gets higher in value, the spread will also be higher.