NXROA OPTIONS

Hi guys as I’ve previously stated I am new to options.

I am just wondering what my options actually are (excuse the pun)

I purchased 670,000 @ 0.004 and now made a little however thinking to hold an execute with the presumption NXR stays above 0.05.

If they are for instance @ 0.10 at 31st December and NXROA are 0.045 do I only have to pay the 0.005 x 670,000? (being the difference)

How does it work also? do I have to do anything or will the company contact me?

Any help is much appreciated only young and trying to grasp the basics