valuation thoughts, page-235

Simple, go find the announcement associated with the option that you wish to trade.
Options have a substantial amount of risk. They could easily go to zero. They should always be valued in a way that allows for the strike price . I am a newbie so don't take this as advice.
One way to calculate the value would be to take what you believe that the SP may be before they expire less a good profit margin to allow for the risk of total capital loss minus the strike price .

So looking at the option price of 4.7 cents the market believes that the SP in just under 2 years should be worth well north of 31 cents . The market however is only risking 4.7 cents to make that bet.

Good luck