Definition of "option" in English

noun

1. One of a set of choices that can be made.

2. The freedom or right to choose.

3. (finance, law) A contract giving the holder the right to buy or sell an asset at a set strike price; can apply to financial market transactions, or to ordinary transactions for tangible assets such as a residence or automobile.

4. (law, uncountable) The acquiring or retention of a nationality through personal choice as a right, bypassing selective legal mechanisms for naturalization, especially in cases where a territory is transferred or passed on from one state to another.

verb

1. To purchase an option on something.

   • The new novel was optioned by the film studio, but they'll probably never decide to make a movie from it.

2. (computing, dated) To configure, by setting an option.