option

1 of 2

noun

op·​tion ˈäp-shən How to pronounce option (audio)
1
: an act of choosing
hard to make an option between such alternatives
2
a
: the power or right to choose : freedom of choice
He has the option to cancel the deal.
b
: a privilege of demanding fulfillment of a contract on any day within a specified time
c
: a contract conveying a right to buy or sell designated securities, commodities, or property interest at a specified price during a stipulated period
also : the right conveyed by an option
The ad is for a condo to rent with an option to buy.
d
: a right of an insured person to choose the form in which payments due on a policy shall be made or applied
3
: something that may be chosen: such as
a
: an alternative course of action
didn't have many options open
b
: an item that is offered in addition to or in place of standard equipment
A sunroof is one of the options that you can get with the car.
4
: an offensive football play in which a back (see back entry 1 sense 3) may choose whether to pass or run with the ball

called also option play

option

2 of 2

verb

optioned; optioning; options

transitive verb

1
: to grant or take an option on
2
: to acquire the exclusive right to use (an author's work) as the basis for a movie
the studio optioned the novel for a film
Choose the Right Synonym for option

choice, option, alternative, preference, selection, election mean the act or opportunity of choosing or the thing chosen.

choice suggests the opportunity or privilege of choosing freely.

freedom of choice

option implies a power to choose that is specifically granted or guaranteed.

the option of paying now or later

alternative implies a need to choose one and reject another possibility.

equally attractive alternatives

preference suggests a choice guided by one's judgment or predilections.

a preference for cool weather

selection implies a range of choice.

a varied selection of furniture

election implies an end or purpose which requires exercise of judgment.

doing a tax return forces certain elections on you

Examples of option in a Sentence

Noun You have the option of staying home or coming with us. He has the option to cancel the deal. We have a wide range of options available to us. Menu options at the café include soups, salads, and sandwiches. Select an option from the drop-down menu. Filing taxes online is an option for people with Internet access. I had no option but to start over. A good option is to do the work yourself. Employees will each be granted options to buy 1,000 shares of company stock. The option must be exercised within five years.
Recent Examples on the Web
Examples are automatically compiled from online sources to show current usage. Read More Opinions expressed in the examples do not represent those of Merriam-Webster or its editors. Send us feedback.
Noun
The company continues to explore potential strategic transactions, including acquisitions and strategic options involving its subsidiaries. Quartz Bot, Quartz, 8 Nov. 2024 Frankly, this option should be baked into the cost, just like the webcam improvements. PCMAG, 7 Nov. 2024
Verb
King, who famously options his literary properties for $1 with a short leash attached, has several film adaptations in the offing. Mike Fleming Jr, Deadline, 21 Oct. 2024 This in turn could open up new options in Ukraine and Syria, options the United States might be happy to have. Michael Kimmage, Foreign Affairs, 11 July 2018 See all Example Sentences for option 

Word History

Etymology

Noun and Verb

French, from Latin option-, optio free choice; akin to Latin optare to choose

First Known Use

Noun

circa 1550, in the meaning defined at sense 1

Verb

1888, in the meaning defined at sense 1

Time Traveler
The first known use of option was circa 1550

Dictionary Entries Near option

Cite this Entry

“Option.” Merriam-Webster.com Dictionary, Merriam-Webster, https://www.merriam-webster.com/dictionary/option. Accessed 23 Nov. 2024.

Kids Definition

option

noun
op·​tion
ˈäp-shən
1
: the power or right to choose
2
: a right to buy or sell something at a specified price during a specified period
took an option on the house
3
: something that may be chosen
a CD player was one of the options on the car

Legal Definition

option

1 of 2 noun
op·​tion ˈäp-shən How to pronounce option (audio)
1
: the power or right to choose
also : a choice made or available
2
: a privilege of demanding fulfillment of a contract on any day within a specified time
3
: a contract conveying in exchange for the payment of a premium a right to buy or sell designated securities, commodities, or interests in property at a specified price during a stipulated period
also : the right conveyed by such a contract
decided to exercise his option
call option
: an option to buy at a fixed price at or within a certain time compare put option in this entry
covered option
: an option in which the optionor owns the security or commodity to be conveyed under the option compare naked option in this entry
futures option
: an option on futures
incentive stock option \ in-​ˈsen-​tiv-​ \
: a stock option granted by a corporation to its officers and employees as supplementary compensation that is subject to special tax treatment under the Internal Revenue Code
index option
: an option on a stock index
naked option
: an option in which the optionor does not own the security or commodity and will have to purchase it at market price if the optionee decides to exercise the option compare covered option in this entry
put option
: an option to sell for a fixed price at or within a specified time
stock option
: an option giving the optionee the right to purchase a specified number of shares of stock from a corporation at a specified price at or within a specified time see also incentive stock option in this entry
4
: a right of an insured to choose the form in which various payments due him or her on a policy shall be made or applied
dividend option
: an option allowing the owner of a participating insurance policy and especially a life insurance policy to determine how dividends are to be paid (as in cash or by being applied as payment for additional insurance)
installments-for-a-fixed-amount option
: a settlement option in which the insurer retains the policy proceeds and makes periodic payments of a fixed amount until the proceeds are exhausted

called also fixed amount option

installments-for-a-fixed-period option
: a settlement option in which the policy proceeds are retained by the insurer and paid in installments over a fixed period of time

called also fixed period option

interest-only option
: a settlement option in which the insurer retains the policy proceeds and makes interest payments at a guaranteed minimum rate
joint-and-last-survivorship option
: an option in which the insurer makes periodic payments to two or more persons (as a husband and wife) of the proceeds or usually cash value of a policy until the death of the last survivor
life income option
: a settlement option in which the insurer retains the policy proceeds and makes periodic payments for the beneficiary's life or for a specified number of years even after the beneficiary's death with payments to a different recipient
nonforfeiture option \ ˌnän-​ˈfȯr-​fə-​ˌchu̇r-​ \
: an option (as to surrender the policy for its cash value or convert the policy to one with a smaller face amount or to a term policy with a shorter period) available to a policyholder who has ceased paying premiums
settlement option
: an option to receive payments of the proceeds of a life insurance policy other than by lump sum

option

2 of 2 transitive verb
: to grant or take an option on
started buying or optioning riverfront landRita Koselka

More from Merriam-Webster on option

Last Updated: - Updated example sentences
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