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.

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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

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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

“As with all stock options, there is only value if the share price meaningfully exceeds the exercise price, and in this case, it must be on an exceedingly aggressive 5-year timeline.”

From The Wall Street Journal

While doctors monitored their seizures to assess treatment options, the patients also took part in voluntary computer-based tasks.

From Science Daily

One option is simply to throw more money at the problem, boosting the value of contracts and maybe even setting up more NHS-run community clinics which can employ dentists directly.

From BBC

“We’re in a tough spot, ladies and gentlemen, and I can’t identify a lot of good options, even as the ships carrying the Marines are heading for the Gulf,” he added.

From Barron's

The company appeared to use a mix of derivative contracts, including options, that were keyed off oil prices.

From Barron's

Related Words

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