Hi! I too have odoo options and I cant quite grasp how it works,...

Hi! I too have odoo options and I cant quite grasp how it works, if I buy my options for 1.2 cents from ado do I then go to my portfolio and buy them at the lowest price i can get them for or can I buy them at any time and hold onto them untill they send confirmation that I have paid the 1.2 cents and once I own and have paid for them can I sell them at anytime before september date or is there a time limit. I would appreciate if anyone could simplify this for me as this is my first option and the books I am reading is a bit confusing
thechrisjive