1. One of a number of things from which only one can be chosen
   "what option did I have?";
   - alternative, choice
    
2. The right to buy or sell property at an agreed price; the right is purchased and if it is not exercised by a stated date the money is forfeited
   "He purchased a stock option with a strike price of $50"
    
3. The act of choosing or selecting
   "The option of which course to take was left to the students";
   - choice, selection, pick
    
4. An adjustable parameter that controls how a device, program, or application functions
   "Change your privacy options";
   - setting, configuration, preference

1. Buy an option to use something
   "The new novel was optioned by the film studio, but they'll probably never decide to make a movie from it"

Derived forms: optioned, optioning, options

Type of: action, deciding, decision making, derivative, derivative instrument

Encyclopedia: Option, Right of