Dear colleagues, Advice/help please...Im trading on the NABTrade...

Dear colleagues,

Advice/help please...

Im trading on the NABTrade platform and have never traded in Options and a bit confused about this. I have read up on Options and understand the risks, put and call orders and how the the exercise price and date work. I'm just a bit confused how this is done on exchange traded options though?

The Orderpad states the Options are trading at $0.008 or 0.8c (ask price) and they expire on 31 June 2023 and strike/exercise price of the underlying stock is 10c. It also says the fixed settlement Type is "L" - i dont understand what this is at all??

So my expectation is that if i buy 1,000,000 Options (assuming i can buy that many?) which would be say $8,000 now once the share price hits 10c+ i am able to exercise these (however you do that? - Advice appreciated) at 10c ps which would be $100,000 for all 1 million.  The hope (yes risk) is that i keep them until 2023 when the price is WAY ABOVE 10c so that i can make a decent widfall.

Any advice/comment appreciated.

Long term share holder and believer in BAT and its management and the potential for graphite and graphene in our energy focussed future.

Thanks in advance.

Nigel.