n. 1. The act of choosing; choice: Her option was to quit school and start her own business. 2. The power or freedom to choose: We have the option of driving or taking the train. 3. a. The right, usually obtained for a fee, to buy or sell an asset within a specified time at a set price. b. A contract or financial instrument granting such a right: a stock option. c. The right to make a movie adaptation of a literary work or play: a movie studio that purchased an option on a book. d. Baseball The right of a major-league team to transfer a player to a minor-league team while being able to recall the player within a specified period. 4. Something chosen or available as a choice. See Synonyms at choice. 5. An item or feature that may be chosen to replace or enhance standard equipment, as in a car. 6. Football An offensive play in which a back, usually the quarterback, decides during the play whether to run with the ball, throw a pass, or make a lateral, depending on the actions of the defense. tr.v. op·tioned, op·tion·ing, op·tions 1. To acquire or grant an option on: "had optioned for a film several short stories about two policemen" (Barbara Goldsmith). 2. Baseball To transfer (a major-league player) to a minor-league club on option. [Latin optiō, optiōn-.] |
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