3  definitions  found 
 
  From  Webster's  Revised  Unabridged  Dictionary  (1913)  [web1913]: 
 
  Option  \Op"tion\,  n.  [L.  optio;  akin  to  optare  to  choose  wish, 
  optimus  best,  and  perh.  to  E.  apt:  cf  F.  option.] 
  1.  The  power  of  choosing;  the  right  of  choice  or  election;  an 
  alternative. 
 
  There  is  an  option  left  to  the  United  States  of 
  America,  whether  they  will  be  respectable  and 
  prosperous,  or  contemptible  and  miserable,  as  a 
  nation.  --Washington. 
 
  2.  The  exercise  of  the  power  of  choice;  choice. 
 
  Transplantation  must  proceed  from  the  option  of  the 
  people,  else  it  sounds  like  an  exile.  --Bacon. 
 
  3.  A  wishing;  a  wish.  [Obs.]  --Bp.  Hall. 
 
  4.  (Ch.  of  Eng.)  A  right  formerly  belonging  to  an  archbishop 
  to  select  any  one  dignity  or  benefice  in  the  gift  of  a 
  suffragan  bishop  consecrated  or  confirmed  by  him  for 
  bestowal  by  himself  when  next  vacant;  --  annulled  by 
  Parliament  in  1845. 
 
  5.  (Stock  Exchange)  A  stipulated  privilege,  given  to  a  party 
  in  a  time  contract,  of  demanding  its  fulfillment  on  any 
  day  within  a  specified  limit. 
 
  {Buyer's  option},  an  option  allowed  to  one  who  contracts  to 
  buy  stocks  at  a  certain  future  date  and  at  a  certain 
  price,  to  demand  the  delivery  of  the  stock  (giving  one 
  day's  notice)  at  any  previous  time  at  the  market  price. 
 
  {Seller's  option},  an  option  allowed  to  one  who  contracts  to 
  deliver  stock  art  a  certain  price  on  a  certain  future 
  date,  to  deliver  it  (giving  one  day's  notice)  at  any 
  previous  time  at  the  market  price.  Such  options  are 
  privileges  for  which  a  consideration  is  paid. 
 
  {Local  option}.  See  under  {Local}. 
 
  Syn:  Choice;  preference;  selection. 
 
  Usage:  {Option},  {Choice}.  Choice  is  an  act  of  choosing; 
  option  often  means  liberty  to  choose  and  implies 
  freedom  from  constraint  in  the  act  of  choosing. 
 
  From  WordNet  r  1.6  [wn]: 
 
  option 
  n  1:  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 
  2:  an  alternative  action  "what  option  did  I  have?"  or  "there 
  no  other  alternative"  or  "my  only  choice  is  to  refuse" 
  [syn:  {alternative},  {choice}] 
 
  From  The  Free  On-line  Dictionary  of  Computing  (13  Mar  01)  [foldoc]: 
 
  option 
 
  {command  line  option} 
 
 

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