Option: difference between Close Position and Exercise (img)?

Do I understand correctly that Close Position will close the option and you will get the profit / loss at the time of closure, while exercising will mean you actually buy the stock at the strike price?

If so, what if your account doesnt have enough money to actually buy the stock at the given strike price?

https://i.imgur.com/dFNbWu4.jpg (Edit: img URL)

Submitted May 07, 2018 at 11:17AM by JRzhutou https://ift.tt/2FPOAI8