option

/ˈɒpʃən/

#1,287 of the most-used English words

noun

1. One of a set of choices that can be made.
2. The freedom or right to choose.
3. 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.

Similar: alternative, choice, possibility

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. To configure, by setting an option.