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
option
verb
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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Merriam-Webster unabridged
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Time Traveler for option
The first known use of option was circa 1550
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