Meaning & Definition of word "Option"

Option

/ˈɒp.ʃən/

1. a thing that is or may be chosen.
- Example: You have the option to select your preferred seat on the plane.
2. the freedom or ability to choose.
- Example: We provide customers with several options to customize their orders.
3. a right to buy or sell an asset at a specified price within a specified time period.
- Example: Investors often use options to hedge against potential losses in their portfolios.
4. a contractual agreement granting a party the right to buy or sell an asset at a predetermined price.
- Example: The company offered an option to purchase additional shares at a fixed price.

From Latin 'optio', meaning 'choice'.

give someone options:

to provide someone with choices

in the option pool:

in a range of available choices or alternatives

option A/B:

used to refer to two choices available.

choose:

to select from a number of possibilities.

select:

to carefully choose as being the best or most suitable.

alternative:

one of two or more available possibilities.

Meaning: It's all optional.

Example Sentence: The extra credit work is all optional, so don't stress about it.

Meaning: Take it or leave it.

Example Sentence: That's my final offer; it's just an option for you.