I may be wrong here but I thought the share options had a set...

I may be wrong here but I thought the share options had a set price of 4c only when they are above that would they be exercised If it was up to the share holder to decide when to exercise it would be at all different times. Some people may want to exercise at 6c it’s a 50% profit. So throughout the year the actual options would be reducing and fully paid up shares on the market would be seen to be increasing. Like I say I may be wrong I thought the company made the call the date to exercise so everyone who has the options pays up the 3.5c per option.
Thanks in advance to anyone who can fully explain this to me.
Loving this share exciting times ahead bring on the drill.