Definition of option
(Entry 1 of 2)
1 : an act of choosing hard to make an option between such alternatives
2a : the power or right to choose : freedom of choice He has the option to cancel the deal.
b : a privilege of demanding fulfillment of a contract on any day within a specified time
c : a contract conveying a right to buy or sell designated securities, commodities, or property interest at a specified price during a stipulated period also : the right conveyed by an option The ad is for a condo to rent with an option to buy.
d : a right of an insured person to choose the form in which payments due on a policy shall be made or applied
3 : something that may be chosen: such as
a : an alternative course of action didn't have many options open
b : an item that is offered in addition to or in place of standard equipment A sunroof is one of the options that you can get with the car.
4 : an offensive football play in which a back (see back entry 1 sense 3) may choose whether to pass or run with the ball
— called also option play
optioned; optioning; options
Definition of option (Entry 2 of 2)
1 : to grant or take an option on
2 : to acquire the exclusive right to use (an author's work) as the basis for a motion picture the studio optioned the novel for a film
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