I. ˈäp-shən noun
Etymology: French, from Latin option-, optio free choice; akin to Latin optare to choose
Date: 1593
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 option 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
Synonyms: see choice
II. transitive verb
Date: 1926
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 option ed the novel for a film