MLM options how do they work?

Bit of a novice question although I have been buying shares for around 15 years I have never owned options. so the mlmob options that expire 25 march 2024 I have the option of selling them on market like normal shares,
Or keeping them before they expire i believe their price is 6c so just say Feb 2024 the SP is at 10c I have the option of converting the options to regular shares which have a cost base of 6c? If the SP is below 6c they expire. Is this correct?
Also how do I go about converting my options how do i pay to have this done is it my online broker ??
thanks in advance