Before revision:   Our results shed new light on the connection between both the volatility of the continuous component and the jump parameters and the behavior of ATM option prices near expiration  .
After revision:  The asymptotic regime considered, in which the strike is made to converge to the spot stock price as the maturity approaches 0, is more relevant in applications since the most liquid options have strikes that close to the spot price. Our results shed new light on the connection between both the volatility of the continuous component and the jump parameters and the behavior of ATM option prices near expiration .