options, page-35

First time options holder - questions for exercising:

Could someone please clarify how the strike price is determined when converting the options - i.e. is it whenever the company receives the notice to exercise or just whenever the company decides to execute following receipt of the notice, or something else?

As the SP is on the line now, and assuming the SP will be higher closer to the expiry date, how do I judge when I should post the letter so it arrives close to the cut of date without it being too late?

Which leads me to my next question - can the notice to exercise only be executed by post? Is there no online option which would allow waiting closer to the expiry date?

And finally, if the SP drops below the exercise price after sending my notice to exercise but before my options are exercised will it be executed? If not am I able to request it be cancelled?

Cheers