[op.tion] n [F, fr. L option-, optio free choice; akin to L optare to choose] (ca. 1604) 1: an act of choosing
2. a: the power or right to choose: freedom of choice 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 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: as a: an alternative course of action "didn't have many ~s open" b: an item that is offered in addition to or in place of standard equipment
4: an offensive football play in which a back may choose whether to pass or run with the ball--called also option play syn see choice
[2]option vt (1926): to grant or take an option on