To answer part of the question as to the reason an option can decrease or not move in value even when the price moves up, it's Volatility. If the volatility of the market is rapidly decreasing, and the price is increasing, the option value could actually stay the same or even possibly decrease. There may be other things that cause it to, but I think the biggest factor is the volatility. Time is another factor, which can also be combined with volatility and do the same.

JeffK