|1.||[ noun ] (writing) 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|
|Related terms:||derivative_instrument covered_option put_option straddle incentive_option call_option stock_option lock-up_option naked_option|
|2.||[ noun ] the act of choosing or selecting|
|Synonyms:||selection choice pick|
"your choice of colors was unfortunate" "you can take your pick"
|Related terms:||action decision vote sampling volition election colouration casting pick|
|3.||[ noun ] (psychology) 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"
|Related terms:||decision_making possibility obverse soft_option default_option Hobson's_choice impossibility preference|