I. ˈäpshən noun
( -s )
Etymology: French, from Latin option-, optio free choice — more at opine
1. : an act of choosing : exercise of the power of choice
at the student's option and with the professor's permission — Loyola University Bulletin
hard to make one's option between such alternatives
2. obsolete : expression of a desire : wish
3.
a. : the power or right to choose (as between alternatives) : freedom of choice
have an option … between accepting its findings or sticking to what we call traditional grammar — W.N.Francis
b. : a right formerly belonging to an archbishop of the Church of England to select any one dignity or benefice in the gift of a suffragan bishop consecrated or confirmed by him for bestowal by himself when next vacant
c.
(1) : a privilege of demanding fulfillment of a contract on any day within a specified limit
(2) : a right (as a put or call) to buy or sell designated securities or commodities at a specified price during the period of the contract
d. : a right of an insured person to choose the form in which various payments due him on a policy shall be made or applied
4. : something that is offered for choice or that is chosen ; especially chiefly Britain : elective
Synonyms: see choice
II. transitive verb
( -ed/-ing/-s )
: to grant or take an option (as to purchase or rent) on
optioned a building site to an out-of-state company
ready to option the film rights from the author