Banknifty weekly option prices

Does anybody know why banknifty weekly option prices are so high in spite of Monday being holiday and only 3 days to expiry.

Cost of volatility is an important part when pricing an option. These are volatile times we are living in, if tomorrow tuesday no news comes out, the vols will drop and in turn all option prices might drop quite fast.

Suggest you to go through: http://zerodha.com/varsity/module/option-theory/