One shot make it count, page-11

Hey chart doctor, can you spare me some time and tell me how options work? My understanding is that each option controls a parcel of 100 shares so 1k buys the right to CONTROL 100K shares - correct? At the expiration date (or before - is this right?) you can trade the shares and pocket the profit. If the options are worth less than the original price at time of expiration, you have done your dough? Is this correct? Am I way off here?

Please advise?