options

Hi,
I received options on the last Cap Raise and was wondering what my options were.I dont usually invest in options and they were kind of worthless when i received them but now they hold some value

Am i right in thinking that i can:
1.Buy and Sell ISNOB on market today
2. Hold and exercise options for a cost (whats the cost?) 3. The ops expire on June/july 2014, so do i need to wait till then to exercise them?

i use commsec as my broker, how do i exercise the options when the time comes.