MoneyArmedInvestors,
Re: Your question, you don't have to exercise the option unless you want to, 95% of options don't get exercised, they basically get sold back into the market with a "Sell to close" instruction if you "Bought to open" this is the most basic for of an option transaction. Also you can sell anytime you want with or without a profit, you don't have to be in the money to do so, be careful because if you are in the money at expirey, you could be automatically exercised by your broker or they may sell your contract(s) for you. Hope this helps.
IMO
BB