Hi there
You ask several questions and therefore I answer one by one:
The process of an option is that you enter the options e.g. 76a for call or put. Then you settle the transaction and post the premium. At maturity if European style you either expire the option (has no value) or exercise the option. If you exercise automatically when settling the exercise an fx deal e.g. 60a is created. You then settle this FX deal and post it. No other sequence is possible.
If you use the option price calculator TXAK make sure that you have all the market data completed such as interest rates for the two currencies, volatility and also the spot price of the currency pair. Furthermore you need to define the strike price for puts and calls. If this is done you get all the prices.
Kind regards
Juerg Heiz