WordWeb Online

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
    
3. The act of choosing or selecting
   - choice, selection, pick

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, options, optioning

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

Encyclopedia: Option Option, Right of