Definitions

1. noun

a possible choice or alternative; a possibility or an opportunity

“The company offers a range of health insurance options to its employees.”

2. verb

to choose or select something as a possibility or alternative

“You can option the new smartphone for pre-order before its official release.”

3. verb

to reserve or set aside something for future use or consideration

“The team optioned the young player for the upcoming season.”

4. noun

a right or privilege granted to someone, especially in a company or organization

“The executive’s option to buy the company’s stock at a discounted price was a major bonus.”