"option" in the noun sense
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. option, alternative, choice
one of a number of things from which only one can be chosen
"what option did I have?"
"there is no other alternative"
"my only choice is to refuse"
3. choice, selection, option, pick
the act of choosing or selecting
"your choice of colors was unfortunate"
"you can take your pick"
Source: WordNet® (An amazing lexical database of English)
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