Here is some more basic trading advice. The concepts are shown in many trading articles and courses, both free and paid. As you view the charts & expanations you will begin to see the use of some of the famous "Greeks". It shows how one , Theta, which measures decay of Option premium value over time, can be used. The interaction of time , price and volatility is covered.

The Passage Of Time Leads To Profitability For Option Traders

"The intrinsic value of an option is that portion of the option that has value by virtue of the current stock price. For example, AAPL currently trades around $607 / share as I write this. The August 600 strike call trades at around $27.00. The …"
http://www.dailymarkets.com/options/2012/07/18/the-passage-of-time-leads-to-profitability-for-option-traders/

 By understanding the "Greeks" you are able to make decisions , not, just gut reations. It may look complex at first but it is worth doing if you intend to trade Options.