option
op
ˈɑp
aap
tion
ʃən
shēn
British pronunciation
/ˈɒpʃən/

Definition & Meaning of "option"in English

Option
01

something that can or may be chosen from a number of alternatives

option definition and meaning
example
Examples
You have the option to choose between different colors for your new car.
02

the action of choosing or making a selection

option definition and meaning
example
Examples
After much thought, she finally exercised her option to stay.
03

a contract that gives the holder the right, but not the obligation, to buy or sell an asset at a predetermined price within a specified time frame

Wiki
example
Examples
Traders may purchase options on commodities like gold or oil as a way to gain exposure to these markets without owning the physical assets.
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