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The simpler way to do this is to just sell the option. It's value, when "in the money" will be the amount that the underlying stock exceeds the strike price (this is called the intrinsic value) plus the remaining "time value".

This is also simpler than exercising the option and then selling the stock which would involve two commissions.

Note that, as with stocks, it's not necessary to buy first; you can sell the option first (called option writing) and then buy it back later.
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