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Wordnet 3.0

NOUN (3)

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;

2. one of a number of things from which only one can be chosen;
- Example: "what option did I have?"
- Example: "there no other alternative"
- Example: "my only choice is to refuse"
[syn: option, alternative, choice]

3. the act of choosing or selecting;
- Example: "your choice of colors was unfortunate"
- Example: "you can take your pick"
[syn: choice, selection, option, pick]


The Collaborative International Dictionary of English v.0.48:

Option \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 alternative. [1913 Webster] 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. [1913 Webster] 2. The exercise of the power of choice; choice. [1913 Webster] Transplantation must proceed from the option of the people, else it sounds like an exile. --Bacon. [1913 Webster] 3. A wishing; a wish. [Obs.] --Bp. Hall. [1913 Webster] 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. [1913 Webster] 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; also, the contract giving that privelege; as, an option to buy a stock at a given price; to exercise an option. [1913 Webster +PJC] Note: A person owning a stock may sell to another person an option or right to buy that stock at some specified price within a specified period of time, and in return will get a premium in consideration for giving the option. If the option price (the strike price) is above the market value for the entire period in which the option is valid, the option is typically not exercised, and expires with no need on the part of the stock owner to transfer the actual stock itself. If however the stock price rises above the option price, the holder of the option may exercise the option, and buy the stock at the specificed price, and may in turn resell the stock at the current market value, perhaps making a net profit on the transaction. The original holder of the stock will receive, in addition to the price at which the stock is sold, the price of the option, and will generally receive more money than if the stock itself were sold at the time that the option was sold. The actual profits for the transaction will depend on the fees that brokers charge for conducting the sales of options and stocks. [PJC] 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. [1913 Webster] 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. [1913 Webster]
WordNet (r) 3.0 (2006):

option n 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 2: one of a number of things from which only one can be chosen; "what option did I have?"; "there no other alternative"; "my only choice is to refuse" [syn: option, alternative, choice] 3: the act of choosing or selecting; "your choice of colors was unfortunate"; "you can take your pick" [syn: choice, selection, option, pick]
Moby Thesaurus II by Grady Ward, 1.0:

41 Moby Thesaurus words for "option": alternate choice, alternative, call, chance, choice, discretion, druthers, election, emption, first option, first refusal, free choice, free decision, free will, full consent, noncontingent free will, opportunity, optionality, pleasure, possible choice, preemption, preference, prerogative, privilege, put, put and call, recourse, refusal, right, right of emption, right of preemption, say, say-so, selection, spread, stock option, straddle, strap, strip, way out, will and pleasure
The Free On-line Dictionary of Computing (18 March 2015):

command line option option (Or "option", "flag", "switch", "option switch") An argument to a command that modifies its function rather than providing data. Options generally start with "-" in Unix or "/" in MS-DOS. This is usually followed by a single letter or occasionally a digit. More recently, GNU software adopted the --longoptionname style, usually in addition to traditional, single-character, -x style equivalents. Some commands require each option to be a separate argument, introduced by a new "-" or "/", others allow multiple option letters to be concatenated into a single argument with a single "-" or "/", e.g. "ls -al". A few Unix commands (e.g. ar, tar) allow the "-" to be omitted. Some options may or must be followed by a value, e.g. "cc prog.c -o prog", sometimes with and sometimes without an intervening space. getopt and getopts are commands for parsing command line options. There is also a C library routine called getopt for the same purpose. (2007-02-18)
Bouvier's Law Dictionary, Revised 6th Ed (1856):

OPTION. Choice; Election; (q.v.) where the subject is considered.