Without correct information, we cannot provide a correct answer. There are plenty of real live examples out there without creating your own. If this is a real example, quote the ticker symbol. Then tell us which option you bought. Maybe your stock is WMT, and you bought the Sep 80 call at 1.25. We can do the math of how much money that costs and calculate how many months out that is, but that isn't part of the option quote. You are confused about something, and add confusing nomenclature. All stock options are always for 100 shares of stock, for example.

I think you are confused about "exercise." Forget exercise. Nobody uses it except for a few experienced professionals. You have the "option" to exercise. It is not a "must."

If you are using the option to speculate, then you are simply betting on the change in price of the option, just like in a stock. If you own a stock, you are hoping it will increase in price, same with an option. You simply sell the option to close your position and take your profit, same as with a stock. You can do that at any time before expiration. If the underlying stock goes down in price, you don't have to do anything because the call option will expire worthless. There is nothing you "must" do.

You have a lot of reading and learning to do before you're ready to trade.

the market price now is $45

and i bought the call option $125 for 100 shares for 6 motnh @$50

next month the market price for the stocks is $40

do i have to buy it @ $50 or @ $40

please help