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option

n. · v.
US //ˈɑpʃən// UK //ˈɒpʃən// op·tion
  1. 1 a choice (n.)
    A2 Elementary

    one of the things you can choose from a group of possibilities.

    one of a set of available choices or alternatives.

    Example

    We have several options for dinner, including Italian and Thai food.

    Example

    The committee explored every available option before deciding that a complete restructuring was the only viable path forward.
  2. 2 the right to choose (n.)
    B1 Intermediate

    the freedom or right to make a choice.

    the power, right, or liberty of choosing.

    Example

    The contract gives you the option to renew your lease next year.

    Example

    Having the option to work from home has significantly improved the team's overall productivity and job satisfaction.
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  1. 3 financial contract (n.)
    C1 Advanced Technical Finance

    a legal agreement that lets you buy or sell something at a fixed price later.

    a financial instrument giving the holder the right, but not the obligation, to trade an asset at a specified strike price.

    Example

    He bought stock options as part of his investment plan.

    Example

    The investor exercised her call option when the market price rose significantly above the agreed strike price.
  2. 4 computing setting (n.)
    B1 Intermediate Computing

    a setting in a computer program that you can change.

    a user-definable setting or parameter within a software application.

    Example

    You can change the language in the settings option of the app.

    Example

    The advanced options menu allows users to toggle hardware acceleration and adjust the cache size for better performance.
  3. 5 to buy a right (v.)
    C1 Advanced Formal

    to pay for the right to buy or use something later.

    to acquire an option on something, especially the rights to a creative work.

    Example

    The studio decided to option the book for a future movie.

    Example

    A major production company has already optioned the screenplay, though filming is not expected to begin until next year.

    Usage

    The verb is transitive and usually refers to intellectual property or real estate.
Origin

From French option, from Latin optiō (“choice; option; act of choosing”), from optō (“I choose, select”). Equivalent to opt + -ion.

Word family
Idioms1 entry

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