Not really. On paper it works, but in practice your position is large enough relative to the whole that your activity is affecting the price. You won't be able to buy as much as you think for that price because there are not enough sellers, and even if you did, your act of selling drives the price down. Big players worry about this all the time. Small players can safely ignore it. The line between big and small depends on the company in question.

I realize that you were talking about options which have slightly different rules, but overall the same applies, in ways adjusted for the rules of options. (I don't know those rules well)