Definitions for: Option

[n] the act of choosing or selecting; "your choice of colors was unfortunate"; "you can take your pick"
[n] an alternative action; "what option did I have?"; "there no other alternative"; "my only choice is to refuse"
[n] 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

Webster (1913) Definition: Op"tion, n. [L. optio; akin to optare to choose, wish,
optimus best, and perh. to E. apt: cf. F. option.]
1. The power of choosing; the right of choice or election; an

There is an option left to the United States of
America, whether they will be respectable and
prosperous, or contemptible and miserable, as a
nation. --Washington.

2. The exercise of the power of choice; choice.

Transplantation must proceed from the option of the
people, else it sounds like an exile. --Bacon.

3. A wishing; a wish. [Obs.] --Bp. Hall.

4. (Ch. of Eng.) A right formerly belonging to an archbishop
to select any one dignity or benefice in the gift of a
suffragan bishop consecrated or confirmed by him, for
bestowal by himself when next vacant; -- annulled by
Parliament in 1845.

5. (Stock Exchange) A stipulated privilege, given to a party
in a time contract, of demanding its fulfillment on any
day within a specified limit.

Buyer's option, an option allowed to one who contracts to
buy stocks at a certain future date and at a certain
price, to demand the delivery of the stock (giving one
day's notice) at any previous time at the market price.

Seller's option, an option allowed to one who contracts to
deliver stock art a certain price on a certain future
date, to deliver it (giving one day's notice) at any
previous time at the market price. Such options are
privileges for which a consideration is paid.

Local option. See under Local.

Syn: Choice; preference; selection.

Usage: Option, Choice. Choice is an act of choosing;
option often means liberty to choose, and implies
freedom from constraint in the act of choosing.

Synonyms: alternative, choice, choice, pick, selection

See Also: action, ballot, balloting, call, call option, casting, coloration, colouration, conclusion, covered option, deciding, decision, decision making, default, default option, derivative, derivative instrument, determination, druthers, election, Hobson's choice, impossibility, impossible action, incentive option, incentive stock option, lock-up option, naked option, obverse, opening, possibility, possible action, preference, put, put option, sampling, soft option, stock option, straddle, volition, vote, voting, willing

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