option

I. noun Etymology: French, from Latin option-, optio free choice; akin to Latin optare to choose Date: 1593 1. an act of choosing 2. a. the power or right to choose ; freedom of choice 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 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: 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 4. an offensive football play in which a back may choose whether to pass or run with the ball — called also option play Synonyms: see choice II. transitive verb Date: 1926 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 motion picture <

the studio optioned the novel for a film

>