option (
http://definr.com/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: an alternative action; "what option did I have?"; "there no
other alternative"; "my only choice is to refuse" [syn:
alternative,
choice]
3: the act of choosing or selecting; "your choice of colors was
unfortunate"; "you can take your pick" [syn:
choice,
selection,
pick]