The word EXERCISE in the context of options and finance (the topic shown in the screenshot — Binance Stock Options) is translated as exercising or realizing an option.
​The main meaning of this term:
​Exercising an option (Exercise an option): This means using your right to buy or sell the underlying asset at a predetermined price (exercise price / strike price).
​In simple terms: when you “exercise” an option, you trigger the transaction and buy/sell the asset that is specified in it.