option

(noun, verb)

noun

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

Definition categories: possession, derivative

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

- what option did I have?

Similar word(s): alternative, choice

Definition categories: thought, deciding

3. the act of choosing or selecting

Similar word(s): choice, pick, selection

Definition categories: act, action

verb

1. To purchase an option on something. [from the 20th c]

- The new novel was optioned by the film studio, but they'll probably never decide to make a movie from it.