ETO forum almost dead, and this is a VERY late reply.
The value of an option has essentially two components.
1. Time value. As the option gets closer to expiry (months->days->hours) this value slowly (then rapidly!) decreases. It will be zero expiry. This reflects the longer the time to expiry the more chance the option has of gaining value (by virtue of the volatility of the market and the stock).
2. Intrinsic value. This is the value of the option strike compared to the underlying security. If your call strike price is $20.00 (you can buy the stock at $20.00) and the stock is $22.00 then the option has a intrinsic value of $2.00. It is "in the money" for $2.00. Remember the intrinsic value can be zero, and all options "out of the money" have an intrinsic value of zero.
In your example the intrinsic value is zero. The time value is the only value left, as the market has moved in the opposite direction in a fairly powerful way and you only have two weeks left to expiry, the time value is likely zero (or very close to it).
In summary the market can move against your option strike price, in that case your value is only time value which slowly (and then rapidly) "decays' to zero at expiry.
The option value can be calculated using the Black-Scholes equation (and their equivalents) if you really want to get into options.
