MGTOC MGTOD Options, page-4

ok, so if you buy 1 option at half a cent (current) and share price say hits 10c before expirey and you want to take advantage of your option you will have to pay 5c to convert that option into a share before you can sell the share at a profit
Or you could sell the option just like you bought it in this scenario, most likely at a profit, as long as it is before expirey.

example.
1 option bought at 0.5c then executed for 5c = 5.5c total cost for the process to receive 1 share, then if you sold the share at 10c SP it would = 4.5c total profit per option (specifically referencing the scenario described above)

hope this helps