n.
  - a thing that is or may be chosen. 
▸the freedom or right to choose.
 - a right to buy or sell a particular thing at a specified price within a set time.
 
v.
 buy or sell an option on.
 
  Phrase
  
    
      - keep 
(or leave)
 one's options open
 not commit oneself. 
    
   
  Etymology
  C16: from Fr., or from L. optio(n-), from the stem of optare ‘choose’.