Delta Vs Time - exception to approaching 1?

CFA Level III Derivatives
#1

It is my understanding that as an in the money option approaches expiration, its delta should approach 1. Thus, I am very confused by Exhibit 21 on page 425 in Book 5 of the CFA’s texts.

This exhibit shows the delta of a stock as it approaches expiration holding stock price steady. the stock price is 1210 and the strike price is 1200, thus it is in the money. yet, delta is decreasing in the graph.

why??? I can only think that it is because the amount by which the option is ITM is less than the option premium? If that is the case, I cannot find reference to that condition anywhere.

#2

You can refer to the graph in the CFA textbook provided by CFA Institute, page 430.

It is valid, that deltas of in the money options will move toward 1 and deltas of out of the money options will move toward 0, as exparation increases.