There are also times when the value of using charts is questionable. For example, if the underlying drops 20% in a day, say from $25 per share to $20 per share, and there is only one trade for a particular option on the underlying that day, it could make a big difference in the price if the option was trading $25 or $20.
Market value is market value. The value of the option would change as the underlying stock price has changed. Otherwise the forces of arbitrage would correct the situation quickly.
What you're really trying to surmise is how extreme the price change in the option would be. Typically if there's a big drop in one day of that magnitude the company is either going to have a news release or impending news. I would still expect a good sized change in the option price.
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