Warrants - IRA BDA

Received a letter from Fidelity that of one of the positions in my IRA BDA is offering warrants with an upcoming expiration date. I currently have 100 shares. I am not interesting in purchasing more shares.
First experience with this, so what are my options?

1. If I do nothing, do I lose the entire investment in my original 100 shares?
2. If answer to #1 is yes, what is the best way to salvage the value of my current 100 shares? As I mentioned, I do not want to purchase more shares? Is the only option to sell at the current market value?
3. If I sell my 100 shares, assume there is no immediate tax consequence as long as I don't withdraw from the Fidelity IRA account?