QFE OPTIONS, page-3

You need to sell QFYOB. Make good the money from sale proceeds. Then buy QFY. One sell and buy another.

Or hold till Aug 2021, any time from now till then by paying a cent you can convert to QFY shares. You need to approach the company, pay and have it converted. Pay to the company and get shares.

Unless QFY trades past 0.01 c options notionally have no value. Only due to the time you have which is nearly 2 yrs there is value given to it in the hope that between now and Aug 2021 QFY will trade past 0.01

Hope it is clear.