option

Pronunciation: /ˈɒpʃən/

The English word “option” has 6 meanings listed here.

noun

One of a set of choices that can be made.
The freedom or right to choose.
A contract giving the holder the right to buy or sell an asset at a set strike price; can apply to financial market transactions, or to ordinary transactions for tangible assets such as a residence or automobile.
The acquiring or retention of a nationality through personal choice as a right, bypassing selective legal mechanisms for naturalization, especially in cases where a territory is transferred or passed on from one state to another.

From French option, from Latin optiō (“choice; option; act of choosing”), from optō (“to choose, select”). Equivalent to opt + -ion.

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Definitions are from Wiktionary, extracted by Kaikki.org, and are available under the CC BY-SA 4.0 licence.