Definition of option

Definition of option
  1. option Noun One of the choices which can be made.
  2. option Noun The freedom or right to choose.
  3. option Noun 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.
  4. option Verb To purchase an option on something.
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