An action (or series of actions) that, when performed, automatically selects a preferred outcome of several possible outcomes, depending on the actions of other actors.

(finance) An option to buy a stated quantity of an asset or financial product, such as stock, at a stated price (the strike price), on a stated future date (or range of dates); contrasted with put option.

(finance) An option to sell a stated quantity of an asset or financial product, such as stock, at a stated price (the strike price), on a stated future date (or range of dates); contrasted with call option.

(American football) A formation that allows the quarterback to pass the ball or to give the ball to the fullback or to one of two running backs.

plural of triple option

plural of nuclear option

plural of local option

(finance) A put option that makes a payoff in the event the issuer of a specified reference asset defaults.

plural of credit default option

(idiomatic) To not commit to a decision, to keep various options available.