option

American  

[op-shuhn] / ˈɒp ʃən /

noun

1. the power or right of choosing.

2. something that may be or is chosen; choice.

   Synonyms:

   election , selection

3. the act of choosing.

   Synonyms:

   election , selection

4. an item of equipment or a feature that may be chosen as an addition to or replacement for standard equipment and features.

   a car with a long list of extra-cost options;

   a telephoto lens option for a camera.

5. stock option.

6. a privilege acquired, as by the payment of a premium or consideration, of demanding, within a specified time, the carrying out of a transaction upon stipulated terms; the right, as granted in a contract or by an initial payment, of acquiring something in the future.

   We bought one lot and took a 90-day option on an adjoining one.

7. Football.  a play in which a back has a choice of either passing or running with the ball.

---

verb (used with object)

1. to acquire or grant an option on.

   The studio has optioned his latest novel for film adaptation.

2. to provide with optional equipment.

   The car can be fully optioned at additional cost.

option British  

/ ˈɒpʃən /

noun

1. the act or an instance of choosing or deciding

2. the power or liberty to choose

3. an exclusive opportunity, usually for a limited period, to buy something at a future date

   he has a six-month option on the Canadian rights to this book

4. commerce the right to buy ( call option ) or sell ( put option ) a fixed quantity of a commodity, security, foreign exchange, etc, at a fixed price at a specified date in the future See also traded option

5. something chosen; choice

6. short for local option

7. not to commit oneself

8. See soft option

---

verb

1. (tr) to obtain or grant an option on

Related Words

See choice.

Other Word Forms

• optionable adjective
• preoption noun

Etymology

Origin of option

First recorded in 1595–1605; from Latin optiōn-, stem of optiō “choice,” equivalent to op(tāre) “to select” ( opt ) + -tiō -tion

Example Sentences

But if he had to park some money in the world of artificial-intelligence stocks, he recently praised a pair of options.

From MarketWatch

"One of the great heavyweights of the last 10 years. I spoke with my team and said he is the first option."

From BBC

The company has a special focus on so-called defined-outcome funds, or buffer funds, which use options contracts to offer investors protection from market downturns while retaining access to some of the gains.

From The Wall Street Journal

This option, however, can be a very expensive way to release the equity in your home.

From MarketWatch

His absence Sunday left undrafted rookie Max Brosmer under center, and the shutout loss didn’t provide any confidence that the Vikings have any option left other than hoping that McCarthy improves.

From The Wall Street Journal

Related Words

• benefit
• choice
• opportunity
• preference
• privilege
• right