> Someone with an option actually paid money to exercise it.
If you still have the option, then you haven't paid to exercise it. Once you exercise it, you have a stock (or the sale proceeds in the case of an exercise-and-sell transaction).
If you still have the option, then you haven't paid to exercise it. Once you exercise it, you have a stock (or the sale proceeds in the case of an exercise-and-sell transaction).
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