In the Black-Scholes formula, the unit of time is usually in years from what I understand. An online calculator I found allows the users to input the time in days and years.
Would the formula still be accurate if I were to plug in say 1 hour for the time variable, by first converting it to years, given that 1 hour is roughly 0.000114155 years? I would assume yes, but the reason I am asking is because of this case scenario that I found with the above calculator. Given the following parameters, the calculator returns a call value of $7.81.
However, when I change the time units to years, and plugin the above converted value of one hour to years, the call value drops to $7.00. Why is this the case? Shouldn't a dramatic move increase the price for a call option if it happens in a shorter period of time versus if it takes longer to happen?