Hi sab3awi1. you can exercise the option at anytime, generally a...

Hi sab3awi

1. you can exercise the option at anytime, generally a options form will be sent to you by the asx or azl on that form would be payment details for where to send the proceeds for the number of options you would like to exercise. One strategy when your options are in the money( over 12C) is to calculate the number of options you need to sell at market (azlo) and use the proceeds to pay for options you want to exercise. once exercised they will appear in your share holdings ( this can take a week to be processed)

2 generally options which are expiring / expired below the exercise price are worthless. Options are generally valued by ..allowance for time + any amount above the exercise price.

correction - also i note in my previous calculation the profitability for the 50 k azl should read 366,666 is i forgot to subtract the cost base of 12c

good luck