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taken an option on

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Definition of taken an option on

: to obtain the right to buy (something) at a particular price
  • The company has taken an option on some land nearby.

Word by Word Definitions

taken

  1. : past participle of take

See the full definition of taken
option play

  1. : an act of choosing

  2. : the power or right to choose : freedom of choice

  3. : a privilege of demanding fulfillment of a contract on any day within a specified time

  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

See the full definition of option

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