Webster's English Dictionary

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option

Cross references:
  1. choice                
 
op.tion \'a:p-sh*n\ n [F, fr. L option-, optio free choice; akin to L 
   optare to cho]ose, Gk epiopsesthai to be going to choose 1: an act of 
   choosing  2a: the power or right to choose : freedom of choice  2b: a 
   privilege of demanding fulfillment of a contract on any day within a  
   specified time 2c: a right to buy or sell designated securities or 
   commodities at a specif ied price during the period of the contract 2d: a 
   right of an insured person to choose the form in which payments due h im on 
   a policy shall be made or applied