you can resell the put at any time before it expires

I get the general jist of put options, but I'm a bit confused.

So lets say a stock valued today at $100.

I purchase a put with a strike price of 95 with an expiration of november 1st. 100 share standard

On november 1st the price is $90.00.

So what happens? Do i need to physically buy 100 shares before the end of the day on november 1st then choose to exercise the option? Lets say I go into a coma between october 31st and november 2nd.

Or is it like october 31st, i have to sell it to someone. Maybe instead of 5X100, they'll buy the contract for 450. Thats where i'm getting lost

I was trying to buy 1 contract with a strike price of $35. It says

Stock Expiration date $35 put

$1.60 +0.51 (46.79%)

Bid 1.05 Ask: 1.85 volume 48

So i'm assuming that means i'd be paying.....$1.60 * 100 = $160 to purchase this contract (+ commission)

I'd need it to drop more than $1.60 / share to profit.

Now when i try to place that order, it says i have to set it as a limit order. Beyond confused there. Are they saying its not $1.60 / share?

I just wanted to go ahead and do it and dissect the numbers later....figured a small amount isn't a big deal, but i cant even do that.