the right to buy or sell property at an agreed price; the right is purchased and if it is not exercised by a stated date the money is forfeited
"The developer accepted my down payment for the land option, knowing that if I didn't close on the sale within six months, my entire deposit would be lost."
one of a number of things from which only one can be chosen
"what option did I have?"
"there is no other alternative"
"my only choice is to refuse"
One of a set of choices that can be made.
"You have two options for lunch: the salad or the sandwich."
In plain English: An option is a choice you have between different things.
"You have the option to pay with cash or credit card."
Usage: Use "option" to refer to a specific choice available within a limited set from which you must select. It functions as a noun and often appears with the preposition "of" when specifying the available selections, such as in "you have an option of three flavors."
To purchase an option on something.
"We decided to buy a call option on Tesla stock before the earnings report came out."
In plain English: To choose between different possibilities.
"You can option a player for your team if you want to sign him later in the season."
Usage: In everyday usage, the verb "to option" means to secure exclusive rights to purchase or produce something, such as a film or property, by paying a fee for that right. You use it when you are not buying the item immediately but reserving the legal ability to do so later under specific terms.
The word comes from the French option, which was borrowed from the Latin optio meaning "a choice." It originally referred specifically to the act of selecting something before entering modern English usage.