optionop·tion /ˈɒpʃənˈɑːp-/ noun [countableC]1a choice between two or more possible things, for example productsChoosing between the available options in mobile phones is very confusing.
2something that is offered in addition to the standard equipment when you buy something, especially a carPassenger airbags are available as standard or as an option on all of its cars.
3COMPUTING one of the possible choices you can make when using a computer programthe split-screen option
4FINANCE (also option to purchase) when an organization buys something, the possibility that it will buy more lateroption for/onThe Spanish air force is due to take 87 of the aircraft, with an option for a further 16.
Shanghai Aviation agreed to buy 26 MD-80s and took options on 15 others.
5FINANCE the right to buy or sell shares, bonds, currencies, or COMMODITIES (=oil, metals, farm products etc) at a particular price within a particular period of time or on a particular date in the futureOptions allow an investor to bet on moves in large amounts of currencies using relatively small stakes.
Each crude-oil options contract entitles its holder to buy or sell the equivalent of 1,000 barrels of oil at a predetermined price.
The stock price fell and the option expired (=came to the end of the period of time when it could be used).
→ American option → call option → covered option → currency option → double option → European option → index option → in-the-money option → out-of-the-money option → put and call option → put option → share option → stock-index option → stock option → traded option