OPTION

Pronunciation (US):

(GB):

IPA (US):

 Dictionary entry overview: What does option mean? 

• OPTION (noun)
  The noun OPTION has 3 senses:

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. one of a number of things from which only one can be chosen

3. the act of choosing or selecting

  Familiarity information: OPTION used as a noun is uncommon.

 Dictionary entry details 

• OPTION (noun)

Sense 1

Meaning:

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

Classified under:

Nouns denoting possession and transfer of possession

Hypernyms ("option" is a kind of...):

derivative; derivative instrument (a financial instrument whose value is based on another security)

Hyponyms (each of the following is a kind of "option"):

naked option (a put or call option for which the seller or buyer has no underlying security position)

covered option (a put or call option backed by the shares underlying the option)

call; call option (the option to buy a given stock (or stock index or commodity future) at a given price before a given date)

put; put option (the option to sell a given stock (or stock index or commodity future) at a given price before a given date)

straddle (the option to buy or sell a given stock (or stock index or commodity future) at a given price before a given date; consists of an equal number of put and call options)

incentive option; incentive stock option (an option granted to corporate executives if the company achieves certain financial goals)

stock option (the right to buy or sell a stock at a specified price within a stated period)

lock-up option (an option to buy the crown jewels offered to a white knight in order to forestall a hostile takeover)

Sense 2

Meaning:

One of a number of things from which only one can be chosen

Classified under:

Nouns denoting cognitive processes and contents

Synonyms:

alternative; choice; option

Context example:

my only choice is to refuse

Hypernyms ("option" is a kind of...):

deciding; decision making (the cognitive process of reaching a decision)

Hyponyms (each of the following is a kind of "option"):

impossibility; impossible action (an alternative that is not available)

soft option (an easier alternative)

Hobson's choice (the choice of taking what is offered or nothing at all)

opening; possibility; possible action (a possible alternative)

default; default option (an option that is selected automatically unless an alternative is specified)

druthers; preference (the right or chance to choose)

obverse (the more conspicuous of two alternatives or cases or sides)

Sense 3

Meaning:

The act of choosing or selecting

Classified under:

Nouns denoting acts or actions

Synonyms:

choice; option; pick; selection

Context example:

you can take your pick

Hypernyms ("option" is a kind of...):

action (something done (usually as opposed to something said))

Hyponyms (each of the following is a kind of "option"):

coloration; colouration (choice and use of colors (as by an artist))

sampling ((statistics) the selection of a suitable sample for study)

conclusion; decision; determination (the act of making up your mind about something)

volition; willing (the act of making a choice)

election (the act of selecting someone or something; the exercise of deliberate choice)

ballot; balloting; vote; voting (a choice that is made by counting the number of people in favor of each alternative)

casting (the choice of actors to play particular roles in a play or movie)

Derivation:

opt (select as an alternative over another)

 Context examples 

Your options will depend on how far along the pregnancy is, as well as the type, size, and stage of your cancer.

(Cancer and Pregnancy, NIH)

The options are surgery, radiation therapy, and chemotherapy.

(Brain Cancer, NIH: National Cancer Institute)

The options also depend on the type of tumor and where it is.

(Childhood Brain Tumors, NIH: National Cancer Institute)

Treatment options include chemotherapy, other drug therapy and radiation.

(Childhood Leukemia, NIH: National Cancer Institute)

Additional description of the criterion group option relationship.

(Defined Criterion Group Option Relationship Comment, NCI Thesaurus)

The only treatment options for kidney failure are dialysis or a kidney transplantation.

(Chronic Kidney Disease, NIH: National Institute of Diabetes and Digestive and Kidney Diseases)

Used to indicate that either or both of two items or options may be valid.

(And/Or, NCI Thesaurus)

If you do need treatment, surgery and radiation are options.

(Acoustic Neuroma, NIH: National Institute of Deafness and Communication Disorders)

To date, nine asteroids have been identified as potential candidates for the mission, having favorable orbits and measuring the right size for the ARM full capture option.

(NASA announces latest progress in hunt for asteroids, NASA)

"I think that when we have those kinds of options to look at, we should look at them without having to spend decades trying to figure out exactly how they work."

(Vitamin C Might Shorten Tuberculosis Treatment Time, Study Indicates, VOA/Steve Baragona)