I think GP disagreed with your assumption that a $1.1/-$1 coin flip was worth $0.05, so they'd pay more for the $0.6/-$0.5 coin flip than for the $1.1/-$1 flip, but still less than $0.05.
They would pay a premium to avoid uncertainty, so they wouldn't accept that offer either. The uncertainty is the same whether you sell or buy the flips. I don't know you, but I guess you wouldn't pay $499K for a $1M/$0 flip, and you wouldn't sell such a flip for $499K either. This is the same phenomenon on a much smaller scale.
What do you mean by “expectations”? If Amazon trades a $2000, is the expectation that it will stay at $2000 forever? Or is the expectation that will go up because it will surpass expectations?
If by expectations we mean the numbers published by sell-side analysts they may or may not be close to the actual market expectations.